SEATTLE, March 14, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, 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).
Key Trends and Analysis of the U.S. Ophthalmic Compounding Pharmacies Market:
Key trends in the market include adoption of inorganic activities such as collaborations, signing agreements, etc. by the key players in the market for increasing production as well as access to ophthalmic compound pharmacy products, which is expected to drive growth of the market over the forecast period. For instance, in March 2020, ImprimisRx, an outsourcing facility, entered into a product supply agreement with Vision Center Network of America, LLC (VCNA), a group of ophthalmic ambulatory surgery centers. ImprimisRx will become a VCNA preferred supplier for a number of surgical formulations, including a portfolio of topical and injectable medications, as a part of this agreement.
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Key Market Takeaways:
The U.S. ophthalmic compounding pharmacies market is expected to exhibit a CAGR of 5.0% during the forecast period due to the increasing geriatric population. According to the Progress in Neuro-Psychopharmacology and Biological Psychiatry Journal: 2019, chronic pain is highly prevalent among older adults suffering from chronic conditions. Furthermore, according to the Centers for Disease Control and Prevention, (CDC), June 2020, in the year 2018, the highest number of pain management therapies were prescribed to the population in the age group of 60 years and above.
In terms of drugs, mitomycin segment is expected to hold a dominant position in the U.S. ophthalmic compounding pharmacies market in 2021, owing to increasing prevalence of glaucoma. For instance, according to the data published by BrightFocus, a tax-exempt nonprofit organization, in July 2021, more than three million Americans are living with glaucoma
Among formulation, eye drops segment is expected to account for largest market share in the U.S. ophthalmic compounding pharmacies market in 2021. An increasing number of product launches by key players is expected to drive the growth of the eye drops segment over the forecast period. For instance, in June 2019, Pavilion Compounding Pharmacy, a pharmacy compounding accreditation board (PCAB) accredited compounding pharmacy located in the United States, announced the compounding option of providing atropine formulations in several different strengths, including 0.05%, 0.025%, and 0.01%.
Competitive Landscape:
Key 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.
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Market 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
Related Market Intelligence Reports:
Myopia & Presbyopia Eye Drops Market, by Eye Drops (Atropine Drops and Pipeline Products (CSF-1, AGN-190584, Nyxol, UNR844-Cl, PRX-100, MicroLine, and Others)), by Indication (Myopia and Presbyopia), by End User (Hospitals, Ophthalmic Clinics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028
Ophthalmoscopes Market, by Product Type (Direct Inspection and Indirect Inspection), by End User (Hospitals, Eye Clinics, and Ambulatory Surgical Centers), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
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