Us compounding pharmacies market
U.S. Compounding Pharmacies Market, by Product Type (Oral, Topical, Rectal ,Parenteral, Nasal, and Ophthalmic), by Therapeutic Area (Pain Management, Hormone Replacement Therapy (HRT),Dermatology and Specialty Drugs), and by Application (Pediatric, Adults, Geriatrics and Veterinary) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
- Nov 2022
- CMI3142
- 157 Pages
- Excel & Pdf
- Pharmaceutical
A patient who cannot be treated with an Food and Drug Administration (FDA)-approved drug, such as one who has a dye allergy and needs a medication to be made without it, or a patient who is elderly or a child who is unable to swallow a tablet or capsule and needs a medication in a liquid dosage form, may require a drug to be compounded. When a Food and Drug Administration (FDA)-approved drug is not medically necessary to treat a patient, doctors at hospitals, clinics, and other healthcare facilities occasionally provide them compounded medications.
U.S. compounding pharmacies market is estimated to be valued at US$ 4,789.6 million in 2022 and is expected to exhibit a CAGR of 5.9 % during the forecast period (2022-2030).
Figure 1.U.S. Compounding Pharmacies Market Share (%), by Therapeutic Area, 2022
Increasing demand for hormone replacement therapy (HRT) is expected to boost growth of the U.S. compounding pharmacies market over the forecast period.
Increasing demand for hormone replacement therapy (HRT) is expected to boost growth of the U.S. compounding pharmacies market over the forecast period. For instance, according to data published on September 2021, on National Library of Medicine, in the U.S., in 2018, about 4 out of 10 women aged 70-79 years reported having had a hysterectomy.
U.S. Compounding Pharmacies Market Report Coverage
Report Coverage | Details | ||
---|---|---|---|
Base Year: | 2021 | Market Size in 2022: | US$ 4,789.6 Mn |
Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
Forecast Period 2022 to 2030 CAGR: | 5.9 % | 2030 Value Projection: | US$ 7,578.0 Mn |
Geographies covered: |
|
||
Segments covered: |
|
||
Companies covered: |
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 |
||
Growth Drivers: |
|
||
Restraints & Challenges: |
|
Figure 2.U.S. Compounding Pharmacies Market Share (%), by Application, 2022
Increasing shortage of drugs in the U.S. is expected to boost growth of the U.S. compounding pharmacies market over the forecast period.
Increasing shortage of drugs in the U.S. is expected to boost growth of the U.S. compounding pharmacies market over the forecast period. For instance, according to a report of the U.S. Food and Drug Administration (FDA): Drug Shortages: Root Causes and Potential Solutions 2019, 56% of hospitals reported they had changed patient care or delayed therapy in light of drug shortages and 36.6% said they had rescheduled non-urgent or emergent procedures. Such scenario leads to use of readily available compounded medications, which is expected to boost growth of the U.S. 503B compounding pharmacies market
U.S. Compounding Pharmacies Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.
COVID-19 has affected the economy in three main ways: by directly affecting production and demand of drugs and vaccines, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets.
The COVID-19 pandemic resulted in increased demand for drugs and decreased manufacturing capacity of commercially available medications, both of which had a favorable effect for the compounding pharmacy sector. For instance, due to a shortage of medications needed to treat patients, the Food and Drug Administration (FDA) issued guidance regarding the compounding of specific medications for hospitalized patients by Federal facilities and State-licensed pharmacies, including health system and hospital pharmacies, during the period of the public health emergency.
U.S. Compounding Pharmacies Market: Key Developments
In July 2019, PharMEDium Services, LLC which is a pharmaceutical manufacturing announced to recall 45 lots of 0.5 mg/mL HYDROmorphone HCl in 0.9% Sodium Chloride 1 mL in 3 mL BD Syringe to the user level. The recall was due to presence of sulfite in PharMEDium’s electronic customer ordering system that claimed to be sulfite-free.
U.S. Compounding Pharmacies Market: Restraint
The major factors that hinder growth of the U.S. compounding pharmacies market include increasing product warnings in sterile compounding, which have led to decrease in sales of compounded injectable drugs, which is also expected to hinder growth of market. For instance, the U.S. FDA expanded an original warning on using Becton-Dickinson (BD) general use syringes of sizes 1mL, 3mL, 5mL, 10mL, 20mL, and 30mL. The agency noted that interaction with the rubber stopper in some lots of these syringes may adversely impact drug potency if filled in syringes and not used immediately.
Key Players
Major players operating in the U.S. compounding pharmacies market 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.
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snapshot, By Product Type
- Market Snapshot, By Application
- Market Snapshot, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Market Trends
- Recent Developments
- Acquisitions and Partnerships Scenario
- Technology Overview
- Regulatory Scenario
- Pipeline Analysis
- PEST Analysis
- Market Dynamics
- U.S. Compounding Pharmacies Market- Impact of Coronavirus (Covid-19) Pandemic
- Overall Impact
- Impact on Supply and Demand
- COVID-19 Impact on the market
- U.S. Compounding Pharmacies Market, By Product Type, 2017 – 2030, (US$ Million)
- Overview
- Market Share Analysis, 2022 and 2030 (%)
- Y-o-Y Growth Analysis, 2017 – 2030
- Segment Trends
- Oral
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2017–2030, (US$ Million)
- Topical
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2017–2030, (US$ Million)
- Rectal
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2017–2030, (US$ Million)
- Parenteral
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2017–2030, (US$ Million)
- Nasal
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2017–2030, (US$ Million)
- Opthalmic
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2017–2030, (US$ Million)
- Overview
- U.S. Compounding Pharmacies Market, By Therapeutic Area, 2017 – 2030, (US$ Million)
- Overview
- Market Share Analysis, 2022 and 2030 (%)
- Y-o-Y Growth Analysis, 2017 – 2030
- Segment Trends
- Pain Management,
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2017–2030, (US$ Million)
- Hormone Replacement Therapy (HRT)
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2017–2030, (US$ Million)
- Dermatology
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2017–2030, (US$ Million)
- Specialty Drugs
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2017–2030, (US$ Million)
- Overview
- U.S. Compounding Pharmacies Market, By Application, 2017 – 2030, (US$ Million)
- Overview
- Market Share Analysis, 2022 and 2030 (%)
- Y-o-Y Growth Analysis, 2017 – 2030
- Segment Trends
- Pediatric
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2017–2030, (US$ Million)
- Adults
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2017–2030, (US$ Million)
- Geriatric
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2017–2030, (US$ Million)
- Veterinary
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2017–2030, (US$ Million)
- Overview
- Competitive Landscape
- Avella Specialty Pharmacy
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Ltd PharMEDium Services
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Institutional Pharmacy Solutions
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Cantrell Drug Company
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Triangle Compounding Pharmacies.
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Hoye’s Pharmacy
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Vertisis Custom Pharmacy
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Smith Caldwell Drug Store
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Nephron Pharmaceuticals Corporation
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Rx3 Compounding Pharmacy
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- B Braun Melsungen AG
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Clinigen Group PLC
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- QuVa Pharma
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- ITC Compounding Pharmacy
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Lorraine’s Pharmacy
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Avella Specialty Pharmacy
- Section
- Research Methodology
- About Us
*Browse 27 market data tables and 31 figures on “U.S. Compounding Pharmacies Market” – U.S. forecast to 2030
Detailed Segmentation:
- U.S. Compounding Pharmacies Market, By Product Type:
- Oral
- Topical
- Rectal
- Parenteral
- Nasal
- Ophthalmic
- U.S. Compounding Pharmacies Market, By Therapeutic Area:
- Pain Management
- Hormone Replacement Therapy (HRT)
- Dermatology
- Specialty Drugs
- U.S. Compounding Pharmacies Market, By Application:
- Pediatric
- Adults
- Geriatric
- Veterinary