The USA compounding pharmacy market in the United States is on track for significant expansion, with a projected valuation of US$ 23,430.35 million by 2033. This surge represents a robust Compound Annual Growth Rate (CAGR) of 7.8% anticipated between 2023 and 2033. The market’s current value is estimated to be US$ 11,099.0 million in 2023.
This growth is primarily driven by the rising demand for personalized medicine. Personalized medicine tailor’s medications to individual patients’ unique needs, enhancing treatment safety and effectiveness. Compounding pharmacies play a crucial role in this space by customizing various medications to address specific patient requirements.
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Several factors contribute to the increasing need for compounded medications:
- Addressing Allergies and Intolerances: Many patients have allergies or sensitivities to certain drug ingredients. Compounded pharmacies can modify medications to eliminate these problematic components, ensuring patients can still receive the necessary treatment.
- Treating Rare Diseases: Patients with rare orphan diseases often require specialized medications that may not be commercially available. Compounding pharmacies can create customized formulations to meet these specific needs.
- Dosage Adjustments: For some patients, standard medication dosages might not be optimal. Compounding pharmacies can adjust dosages to better suit individual needs, improving treatment efficacy and reducing potential side effects.
Key Takeaways from the Market Study
- The USA market for compounding pharmacies expanded at a CAGR of 5.2% from 2018 to 2022.
- The market for USA compounding pharmacies is anticipated to be dominated by the oral and tropical medicine sector.
- The sector increased its regional market share to above 60% in 2022.
- The HRT market category increased its market share in the US compounding pharmacy market to 39% in 2022.
- Over 27% of the market share for compounding pharmacies in the USA was taken by regular pharmacies in 2022.
“The market will see growth during the projected period due to the rising prevalence of chronic illnesses like cancer and increased financing for compounding pharmacies in the USA,” remarks an FMI analyst.
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Competitive Landscape
Prominent players in the USA Compounding Pharmacies market are Avella Specialty Pharmacy, Central Admixture Pharmacy Services Inc., Hoye’s Pharmacy, Vertisis Custom Pharmacy, Smith Caldwell Drug Store, Sixth Avenue Medical Pharmacy, Cantrell Drug Company, Clinigen Group, Dougherty’s Pharmacy, Fagron N.V.
Recent Developments
- In 2021, Adamis Pharmaceuticals Corporation declared that it had signed a legal contract to sell US Compounding Inc.’s assets related to the company’s human compounding pharmacies business and clients for US$15 million before transaction costs and expenses.
- In 2023, well-known American eyecare pharmaceutical manufacturer Harrow stated that ImprimisRx, a completely owned subsidiary of Harrow with a focus on compounding and mail-order pharmacies, will provide its patent-pending, future compounded Atropine formulations.
- Nephron Pharmaceuticals Corporation announced the launch of a novel syringe presentation in 2022. This was done as a part of the wildly successful Nephron 503B Outsourcing Facility business, which continued to profit from the momentum brought on by exponential growth.
USA Compounding Pharmacies Market Key Companies Profiled:
- Avella Specialty Pharmacy
- Central Admixture Pharmacy Services Inc.
- Hoye’s Pharmacy
- Vertisis Custom Pharmacy
- Smith Caldwell Drug Store
- Sixth Avenue Medical Pharmacy
- Cantrell Drug Company
- Clinigen Group, Dougherty’s Pharmacy
- Fagron N.V.
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Segmentation Analysis of the USA Compounding Pharmacies Market:
By Product:
- Oral Medication
- Solid Medication
- Capsules
- Tablets
- Mixtures
- Lollipops
- Lozenges
- Liquid Medication
- Syrup
- Solution/Liquid
- Emulsion
- Suspension
- Topical Medication
- Gels
- Ointments
- Creams
- Lotions
- Solid Medication
- Injectable
- Mouthwashes
- Nasal
- Ocular
- Otic
- Suppositories and Enemas
By Pharmacy Type:
- 503A Pharmacy
- 503B Pharmacy
By Application:
- Adults
- Pediatrics
- Geriatrics
- Veterinary
By Therapeutic Area:
- Hormone Replacement Therapy
- Pain Management
- Dermatology
- Oncology
- Hematology
- Dental
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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