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  • Published On : Feb 2022
  • Code : CMI4921
  • Industry : Pharmaceutical
  • Pages : 226
  • Formats :

The process of combining, mixing, or changing substances to create a treatment according to the needs of a specific patient is known as drug compounding. Compounding is the process of mixing two or more medications. Individual chemicals are blended in the exact strength and dosage form required for the patient. Compounded drugs are prepared based on a practitioner's request. The U.S. Food and Drug Administration (FDA) regulates the ingredients, which generally consist of drugs that have undergone FDA clinical trials and receive approval. Compounding is carried out when a patient cannot be treated with the U.S. Food and Drug Administration (FDA) approved drug such as when a patient is allergic to a dye in a medicine.

The U.S. ophthalmic compounding pharmacies market is estimated to be valued at US$ 219.2 million in 2021 and is expected to exhibit a CAGR of 5.0% during the forecast period (2021-2028).

Figure 1. U.S. Ophthalmic Compounding Pharmacies Market Share (%) in Terms of Value, by Formulation, 2021

U.S. Ophthalmic Compounding Pharmacies  | Coherent Market Insights

Increasing drug shortage in the U.S. is expected to drive the market growth over the forecast period.

An increase in the ophthalmic drug shortage and thereby to meet its demand in the U.S., it is expected to drive the market growth over the forecast period. For instance, according to the report from the Department of Health and Human Services 2019,  the dosage form most offered by the 503B registered facilities was injectable, i.e., almost 53 U.S. outsourcing facilities were offering injectable compounding drugs in 2018. This was followed by the other sterile liquids, solids, semi-solids, and non-injectable sterile dosage forms.

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U.S. Ophthalmic Compounding Pharmacies Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 219.2 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 5.0% 2028 Value Projection: US$ 307.9 Mn
Geographies covered:
  • North America: U.S.
Segments covered:
  • By Drug: Mitomycin, Amphotericin, Fluconazole, Voriconazole, Tropicamide, Atropine Sulfate, Albumin 5%, Cyclosporine 0.5-2%, Moxifloxacin, Gentamicin, Vancomycin, Amikacin, Tobramycin, Tetracycline, Metronidazole, Acetylcysteine, Bevacizumab, Tacrolimus, Retinoic Acid, Carosine, Latanoprost, Dorzolamide, Brimonidine, Timolol, Others
  • By Formulation: Eye Drops, Ointments, Injections, Others
  • By Therapeutic Application: Dry Eyes, Glaucoma, Cataracts, Conjunctivitis, Age-related Macular Degeneration, Uveitis (Eye Inflammation), Others
  • By Pharmacy Type: 503A, 503B
Companies covered:

Fagron Sterile Services US, New Drug Loft & VLS Pharmacy, Nora Apothecary, Lifecare Pharmacy, Avella Specialty Pharmacy, Triangle Compounding Pharmacy, O’Brien Pharmacy, Tache Pharmacy, Northmark Pharmacy, Edge Pharma, and ImprimisRx

Growth Drivers:
  • Increasing drug shortage in the U.S.
  • Increasing geriatric population and improved longevity due to customized medicines
  • Increasing eye disorders in the U.S.
Restraints & Challenges:
  • Product recalls
  • Issues related to safety standards of ophthalmic compounded drugs 

Figure 2. U.S. Ophthalmic Compounding Pharmacies Market Share (%), by Pharmacy Type, 2021

U.S. Ophthalmic Compounding Pharmacies  | Coherent Market Insights

Increasing prevalence of eye disorders is expected to drive the market growth during the forecast period.

The increasing prevalence of various eye disorders is expected to drive the market growth during the forecast period. For instance, according to the article published by the National Institute for Occupational Safety and Health (NIOSH) 2020, every day, around 2,000 U.S. workers with job related eye injuries require medical treatment.

U.S. Ophthalmic Compounding Pharmacies Market – Impact of Coronavirus (COVID-19) Pandemic

The coronavirus (COVID-19) pandemic and lockdown in various countries across the globe have impacted the financial status of businesses in all sectors. The private healthcare sector is one of the sectors which is majorly impacted by the COVID-19 pandemic.

The COVID-19 pandemic has negatively impacted the development, production, and supply of medicines and also affected the growth of the pharmaceutical businesses of various companies across the globe, as the COVID-19 pandemic has led to lockdowns in several countries globally. This lockdown has resulted in the closure of industrial establishments except for the manufacturing of essential commodities and disruption in the supply chain of pharmaceuticals and kits for diagnostic and therapeutic use.

However, key players are engaged in launching new products, in order to overcome the drug shortages during the COVID-19 pandemic. In order to meet the demand-supply gap that was hampered during COVID-19, it is expected to drive growth of the U.S. ophthalmic compounding pharmacies market over the forecast period. For instance, in December 2020, during the COVID-19 pandemic, Triangle Compounding Pharmacy, a company offering digital tools to help refill prescriptions, helped in providing pharmaceutical-grade hand sanitizer to front-line workers across the U.S. Triangle Compounding Pharmacy strengthened its already stringent infectious control measures to help slow the spread of COVID-19 and to protect customers and employees. Moreover, the Triangle Compounding Pharmacy asked its customers to have their prescriptions mailed or shipped.

U.S. Ophthalmic Compounding Pharmacies Market: Restraint

The major factors that hinder growth of the U.S. ophthalmic compounding pharmacies market include product recalls and issues related to safety standards of ophthalmic compounded drugs.  For instance, in September 2021, U.S. Food and Drug Administration (FDA) recommended Greenpark Compounding Pharmacy, a family owned and operated pharmacy, to expand its recall to all unexpired compounded drugs intended to be sterile and stop sterile production until it implements adequate corrective actions due to lack of sterility and therefore safety assurance

Key Players

Major players operating in the U.S. ophthalmic compounding pharmacies market include Fagron Sterile Services US, New Drug Loft & VLS Pharmacy, Nora Apothecary, Lifecare Pharmacy, Avella Specialty Pharmacy, Triangle Compounding Pharmacy, O’Brien Pharmacy, Tache Pharmacy, Northmark Pharmacy, Edge Pharma, and ImprimisRx.

When a commercially available medicine does not fit the unique needs of an individual patient (human or animal), the drug is compounded by a certified pharmacist. When a patient may be unable to tolerate a commercially available drug, or when the particular formulation required may be unavailable, or the patient may require a treatment that is currently in short supply or has been withdrawn, compounding is carried out. Compounding is defined by the United States Pharmacopeia Convention (USP) as "the preparation, mixing, assembling, altering, packaging, and labelling of a drug, drug-delivery device, or device under a licensed practitioner's prescription, medication order, or initiative in the course of professional practice.

Market Dynamics

The increasing launches of drugs and adoption of inorganic strategies such as collaborations by the key players operating in the market are expected to drive the market growth during the forecast period. For instance, in November 2020, Fagron Sterile Services, a U.S. Food and Drug Administration (FDA) and Drug Enforcement Administration (DEA)-registered 503B outsourcing provider of sterile medications, launched its new innovative silicone-free bevacizumab (AVASTIN) injection using Groninger automation technology in collaboration with West Pharmaceutical Services, Inc., a U.S.-based pharmaceutical company. This silicon-free AVASTIN injection has a long shelf life of 150 days and can be administered safely for ophthalmic applications without depositing any unsafe silicon oil droplets into the eye.

Key features of the study:

  • This report provides an in-depth analysis of the U.S. ophthalmic compounding pharmacies market and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 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. ophthalmic 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 Fagron Sterile Services US, New Drug Loft & VLS Pharmacy, Nora Apothecary, Lifecare Pharmacy, Avella Specialty Pharmacy, Triangle Compounding Pharmacy, O’Brien Pharmacy, Tache Pharmacy, Northmark Pharmacy, Edge Pharma, and ImprimisRx
  • 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. ophthalmic 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. ophthalmic compounding pharmacies market

Detailed Segmentation:

  • U.S. Ophthalmic Compounding Pharmacies Market, By Drug:
    • Mitomycin
    • Amphotericin
    • Fluconazole
    • Voriconazole
    • Tropicamide
    • Atropine Sulfate
    • Albumin 5%
    • Cyclosporine 0.5-2%
    • Moxifloxacin
    • Gentamicin
    • Vancomycin
    • Amikacin
    • Tobramycin
    • Tetracycline
    • Metronidazole
    • Acetylcysteine
    • Bevacizumab
    • Tacrolimus
    • Retinoic Acid
    • Carosine
    • Latanoprost
    • Dorzolamide
    • Brimonidine
    • Timolol
    • Others
  • U.S. Ophthalmic Compounding Pharmacies Market, By Formulation:
    • Eye Drops
    • Ointments
    • Injections
    • Others
  • U.S. Ophthalmic Compounding Pharmacies Market, By Therapeutic Application:
    • Dry Eyes
    • Glaucoma
    • Cataracts
    • Conjunctivitis
    • Age-related Macular Degeneration
    • Uveitis (Eye Inflammation)
    • Others
  • U.S. Ophthalmic Compounding Pharmacies Market, By Pharmacy Type:
    • 503A
    • 503B
  • Company Profiles
    • Fagron Sterile Services US*
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • New Drug Loft & VLS Pharmacy
    • Nora Apothecary
    • Lifecare Pharmacy
    • Avella Specialty Pharmacy
    • Triangle Compounding Pharmacy
    • O’Brien Pharmacy
    • Tache Pharmacy
    • Northmark Pharmacy
    • Edge Pharma
    • ImprimisRx

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The U.S. ophthalmic compounding pharmacies market size is estimated to be valued at US$ 219.2 million in 2021 and is expected to exhibit a CAGR of 5.0% between 2021 and 2028.
Factors such as increasing drug shortage in the U.S., increasing geriatric population and improved longevity due to customized medicines, and increasing eye disorders in the U.S. are expected to drive the growth of the market during forecast period.
Mitomycin segment is the leading drug segment in the market.
The major factors hampering growth of the market include product recalls and issues related to safety standards of ophthalmic compounded drugs.
Major players operating in the market include Fagron Sterile Services US, New Drug Loft & VLS Pharmacy, Nora Apothecary, Lifecare Pharmacy, Avella Specialty Pharmacy, Triangle Compounding Pharmacy, O’Brien Pharmacy, Tache Pharmacy, Northmark Pharmacy, Edge Pharma, and ImprimisRx

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