A pharmacy that is operated by a licensed pharmacist, licensed physician or a person under the guidance of a licensed pharmacist is called compounding pharmacy. The process of combining, blending, or modifying substances to make a treatment specific to the requirements of a certain patient is known as drug compounding. Compounding is the process of combining two or more medications. These medications are not FDA-approved. Compounding pharmacists can combine medications to create liquids with a specific flavor, topical creams, transdermal gels, suppositories, or other dosage forms that are suitable for the individual needs of their patients. Making copies of pharmaceuticals that are already in market is not considered compounding because it is against the law to do so.
When a medication is traditionally compounded, it is prepared to the prescriber's exact specifications and given directly to the patient in accordance with a valid prescription for that person. A pharmacist who has been granted licensure by a state board of pharmacy does or oversees the compounding of pharmaceuticals. State pharmacy boards oversee the practice of compounding. All pharmacists and pharmacies engaged in compounding are subject to regulation by both federal and state authorities, with the exception of community and hospital compounding pharmacists who are permitted exemptions from the Federal Food, Drug and Cosmetic Act of 1938 if they comply with the regulations set forth in Section 503A.
Increasing geriatric population is expected to drive market growth over the forecast period. For instance, according to data published in February 2022, on International Association for the Study of Pain, in the U.S., in 2021, about 50 million elder patients were suffering from chronic pain.
Key features of the study:
- This report provides in-depth analysis of the U.S. compounding pharmacies market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the U.S. compounding pharmacies market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Avella Specialty Pharmacy,Ltd PharMEDium Services, Institutional Pharmacy Solutions, Cantrell Drug Company, Triangle Compounding Pharmacies, Hoye’s Pharmacy,Vertisis Custom Pharmacy,Smith Caldwell Drug Store,Nephron Pharmaceuticals Corporation,Rx3 Compounding Pharmacy,B Braun Melsungen AG,Clinigen Group PLC,QuVa Pharma,ITC Compounding Pharmacy, and Lorraine’s Pharmacy.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The U.S. compounding pharmacies market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the U.S. compounding pharmacies market
- U.S. Compounding Pharmacies Market, By Product Type:
- U.S. Compounding Pharmacies Market, By Therapeutic Area:
- Pain Management
- Hormone Replacement Therapy (HRT)
- Specialty Drugs
- U.S. Compounding Pharmacies Market, By Application:
- Company Profiles
- Avella Specialty Pharmacy
- Company Highlights
- Products Portfolio
- Key Highlights
- Financial Performance
- PharMEDium Services
- Institutional Pharmacy Solutions,
- Cantrell Drug Company,
- Triangle Compounding Pharmacies
- Hoye’s Pharmacy
- Vertisis Custom Pharmacy
- Smith Caldwell Drug Store
- Nephron Pharmaceuticals Corporation
- Rx3 Compounding Pharmacy
- B Braun Melsungen AG
- Clinigen Group PLC
- QuVa Pharma
- ITC Compounding Pharmacy
- Lorraine’s Pharmacy
“*” marked represents similar segmentation in other categories in the respective section.