USA Compounding Pharmacies Market to Reach USD 23,430.35 Million by 2033 at a 7.80% of CAGR

USA Compounding Pharmacies Market

The USA compounding pharmacies market was valued at USD 10,326.0 million in 2022, and is expected to reach USD 11,099.0 million by the end of 2023. Over the next decade, the market is projected to experience robust growth, with a compound annual growth rate (CAGR) of 7.8%, ultimately reaching a market value of US$ 23,430.35 million by 2033.

This growth is driven by the increasing demand for personalized medications tailored to individual patient needs, especially in cases of complex conditions that require specialized treatments. Compounding pharmacies provide unique solutions, including customized dosages, alternative delivery forms, and the ability to address specific allergies or sensitivities, which are fueling their growing adoption across the healthcare sector.

Key Market Trends and Highlights

• Growing demand for personalized medications: Increasing patient demand for custom pharmaceuticals that meet their specific demands is propelling market expansion.
• Expanding veterinary compounding: The market for specialized pet pharmaceuticals is expanding as a result of rising consumer demand.
• Safety is ensured via regulatory oversight: Standards for quality and patient safety are upheld by strict rules and monitoring.
• Bioidentical hormone therapy: Growing interest in personalized hormone therapies, particularly for the management of menopause.
• Geriatric and pediatric care: There is a market niche for tailoring drugs to certain age groups.
• Filling up drug shortages: Compounding pharmacies in the USA fill the gap left by the lack of commercially available drugs.
• Enhanced pain management: Tailored pain treatment products are a rising market segment.

USA Compounding Pharmacies Market Key Drivers

• The market is expanding as a result of the rising demand for customized medication. By modifying drugs to meet the specific needs of each patient, personalized medicine seeks to enhance the safety and efficacy of pharmaceuticals.
• Patients with particular needs, such as those with allergies or intolerances to specific compounds, those who need treatment for uncommon orphan illnesses, and others, need compounded drugs that are specially formulated for their circumstances.
• Certain drugs that have been discontinued for primarily commercial reasons are still accessible through compounded pharmacies. For instance, the USA. FDA maintains a list of around 206 drugs that have been withdrawn from the market, including budesonide as well as ursodiol capsules, which compounded drugs may easily replace.
• The need for compounded drugs has grown as a result of the lack of commercially available treatments, particularly for chronic illnesses, which has helped the industry expand.
• The bulk of the reported medicine shortages were for drugs used to treat cardiovascular conditions. Pharmaceutical compounding is frequently viewed as the best way to deal with the pharmaceutical shortage and fill any gaps that result from it.
• For instance, the USA Food and Drug Administration (FDA) published a paper titled Drug Shortages: Root Causes and Potential Solutions. In 2019, hospitals stated that they had altered patient care or postponed therapy due to medication shortages, and 36.6% said that they had to postpone routine or emergency operations.
• Such a situation encourages the usage of easily accessible compounded drugs, which is anticipated to fuel the expansion of the compounding pharmacies market in the United States.

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
• 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

Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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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