U.S. Injectable Compounding Pharmacy Market, by Molecule (Acetaminophen, Phenylephrine, Midazolam, Esmolol, Vancomycin, Epinephrine, Adenocaine, Fentanyl / Bupivacaine, Morphine, Amiodarone, Fentanyl, Heparin, Ketamine, Dextrose, Hydromorphone, Bupivacaine, Lidocaine, BKK (Bupivacaine, Ketorolac, Ketamine), RCK (Ropivacaine, Clonidine, Ketorolac), RKK (Ropivacaine, Ketorolac, Ketamine), Norepinephrine, Diltiazem, Vasopressin, and Others), by Packaging Type (Vials, Ampoules, Prefilled Syringes, and Others), and by Pharmacy Type (503A Pharmacies and 503B Pharmacies), is estimated to be valued at US$ 1,317.9 million in 2021 and is expected to exhibit a CAGR of 7.3% over the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Market players are focusing on adoption of inorganic growth activities such as collaborations, for increasing production as well as access of compounding pharmacy products, and this is expected to aid in the growth of the market over the forecast period.
For instance, in January 2020, QuVa Pharma, Inc., a 503B outsourcing compounding pharmacy, entered into an expanded partnership with Smiths Medical to increase production capacity, as well as to increase access for the hospitals for pre-filled CADD (Computer Aided Design and Drafting) medication cassette reservoirs due to increasing demand for pre-filled CADD medication cassette. This partnership will increase access of over 25 products QuVa offers in pre-filled CADD cassettes.
U.S. Injectable Compounding Pharmacy Market – Impact of Coronavirus (Covid-19) Pandemic
For instance, on April 16, 2020, the U.S. Food and Drug Administration (FDA) issued the guidance document ‘Temporary Policy for Compounding of Certain Drugs for Hospitalized Patients by Outsourcing Facilities during the COVID-19 Public Health Emergency’.
During the pandemic, the U.S. FDA received reports from hospitals regarding difficulties in obtaining FDA-approved drugs due to increased demand and supply chain interruptions. Some of the drugs are already on the U.S. FDA drug shortage list.
The following table shows the list of some of the drugs that are currently in shortage and are required during the COVID-19 treatment:
|Drugs Required During COVID-19 Treatment||Therapeutic Category|
|Fentanyl Citrate||Analgesia, Pediatric|
|Midazolam Hydrochloride||Anesthesia, Neurology|
Therefore, in order to meet the increasing demand for drugs for the treatment of patients on ventilator support, during COVID-19 pandemic, the U.S. FDA allowed registered outsourcing facilities to compound 13 commonly used hospital drugs.
Key players are indulged in inorganic activities such as partnerships and are also engaged in launching new products, in order to overcome the drug shortages during the COVID-19 pandemic. This is expected to drive growth of the market over the forecast period.
For instance, on July 22, 2020, Piramal Critical Care (PCC), a company headquartered in India, entered into a strategic partnership with Medivant Healthcare, a U.S.-based pharmaceutical outsourcing facility, for addressing severe shortage of injectable drugs in hospitals across the U.S. The companies will focus on the distribution of single – dose injectable drugs in all approved states of the U.S., that have fallen dangerously short in supply of drugs, for the treatment of COVID-19 patients.
Browse 9 Market Data Tables and 38 Figures spread through 189 Pages and in-depth TOC on “Injectable Compounding Pharmacy Market”- U.S. Forecast to 2028, by Molecule (Acetaminophen, Phenylephrine, Midazolam, Esmolol, Vancomycin, Epinephrine, Adenocaine, Fentanyl / Bupivacaine, Morphine, Amiodarone, Fentanyl, Heparin, Ketamine, Dextrose, Hydromorphone, Bupivacaine, Lidocaine, BKK (Bupivacaine, Ketorolac, Ketamine), RCK (Ropivacaine, Clonidine, Ketorolac), RKK (Ropivacaine, Ketorolac, Ketamine), Norepinephrine, Diltiazem, Vasopressin, and Others), by Packaging Type (Vials, Ampoules, Prefilled Syringes, and Others), and by Pharmacy Type (503A Pharmacies and 503B Pharmacies)
To know the latest trends and insights prevalent in the U.S. Injectable Compounding Pharmacy Market, click the link below:
Key players operating in the market are focusing on novel product approvals, in order to expand their product portfolio in the market, which is expected to drive the market growth during the forecast period. For instance, in November 2020, Fagron Compounding Pharmacies U.S. launched new products i.e., fentaNYL, HYDROmorphone, and midazolam in Intravenous bags (IV bags). The company is planning to continue to expand IV Bag offerings to include oxyTOCIN, NORepinephrine, and others.
Key Takeaways of the U.S. Injectable Compounding Pharmacy Market:
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