U.S. Compounding Pharmacies Market Size to Worth Around US$ 8.3 Bn by 2030

Ottawa, April 28, 2022 (GLOBE NEWSWIRE) -- Demand for US compounding pharmacies remains strong in 2021. Some sales insight revealing the strong growth of U.S. compounding pharmacies market during the past few years are listed below:

• By product, the oral medications segment accounted for 51% while the parenteral medication segment garnered a market share of 18% respectively, in 2021
• By pharmacy type, the 503A segment is expected to grow at a CAGR of 2.3% from 2022 to 2030
• By sterility, the non-sterile segment accounted for 62.5% of the US compounding pharmacies market share in 2020
• Approximately 1,806,590 new cancer cases were estimated to be diagnosed in US in 2020
• Around 606,520 cancer deaths were estimated in US in 2020
• The cancer incidence or rate of new cancer cases in men is 442.4 per 100,000 per year in US
• The cancer death rate is 158.3 per 100,000 per year in US
• Around 16,850 adolescents and children aged 0 to 19 years would be diagnosed with cancer in US in 2020
• US$ 150.8 billion was estimated to be the national cancer care expenditure in US in 2018
• Around 24% of the total US population will be geriatric by 2060
• The lungs, prostate, and colorectal cancer collectively accounted for 43% of the total new cancer cases diagnosed in men in 2021
  
  

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Approximately Over 50% of the US Compounding Pharmacies Market Captured by Oral Medications Segment

The oral medications dominated the market owing to the huge availability of various medicines that are meant to be orally administered. The oral administration of medicines is the most common and the easiest way of administering drugs since centuries. The oral medications are easily available in different formats like granules, powder, tablets, and capsules that offers convenience to the consumers in consuming and storage.

The surging prevalence of chronic ailments among the US population and the growing demand for the personalized and customized medications is expected to further fuel the growth of the oral medications segment.

The parenteral medications is expected to grow at the highest CAGR during the forecast period. The rapidly rising geriatric population and increasing demand for the ophthalmic drugs among the elderly people in US is expected to drive the market growth during the forecast period. The availability of ophthalmic drugs in various formats, increasing product affordability, and rising acceptance among the consumers is driving the growth of the parenteral segment in the US compounding pharmacies market.

Scope of the Report

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What are the key trends in the US Compounding Pharmacies Market?

The rising investments in the research and development and the increased efforts of the market players to innovate their products is expected to boost the growth of the compounding pharmacies market in US. The development of oral liquids, gummy treats, topical gels, and effervescent drinks for the children or pediatric population is driving the demand for the compounding pharmacies significantly. Moreover, the increasing popularity of the pain management therapies in US is bolstering the growth of the US compounding pharmacies market. Most of the compounded pain management drugs are not approved by the US FDA. However, the State Pharmacy Board controls and supervises on this. Furthermore, the demand for the hormone replacement therapy drugs is growing significantly with the surging prevalence of breast cancer among the women population in US. The growing geriatric population and increased penetration of the social media platforms in US is significantly boosting the adoption of the hormone replacement therapy drugs.

What are the key challenges in the US Compounding Pharmacies Market?

As there is a lack of standard regulatory norms regarding the compounded drugs in US, safety is a major issue faced by the market players. The Food and Drug Administration does not regulate the compounded drugs and hence there is a lack of proper standardization. The lack of consumer confidence due to it may hamper or restrict the growth of the US compounding pharmacies market in the upcoming future. Moreover, the changing regulatory specifications are another major challenge faced by the market players operating in the US compounding pharmacies market.

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Top US Compounding Pharmacies Manufacturers in 2020

Triangle compounding pharmacy, Fagron, B. Braun melsungen ag, Fresenius kabi ag, Pencol Compounding Pharmacy, US Compounding Inc., Avella specialty pharmacy, Institutional pharmacy solutions, llc, Pharmedium services llc, and Vertisis custom pharmacy are the most prominent players in the US compounding pharmacies market.

Market Segmentation

By Pharmacy Type

• 503A
• 503B

By Product

• Oral
  • Capsules
  • Granules
  • Tablets
  • Powder
  • Others
• Liquid Preparations
  • Emulsion
  • Syrup
  • Solutions
  • Suspension
  • Others
• Topical
  • Gels
  • Ointments
  • Creams
  • Pastes
  • Others
• Rectal
  • Enema
  • Suppositories
  • Others
• Parenteral
  • SVP
  • LVP
• Ophthalmic
• Nasal
• Otic

By Sterility

• Sterile
• Non-Sterile

By Application

• Adult
• Geriatric
• Pediatric
• Veterinary

By Compounding Type

• Pharmaceutical Ingredient Alteration (PIA)
• Currently Unavailable Pharmaceutical Manufacturing (CUPM)
• Pharmaceutical Dosage Alteration (PDA)
• Others

By Therapeutic Area

• Hormone replacement
• Pain management
• Dermatology
• Specialty drugs
• Nutritional supplements
• Others

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