Dublin, Dec. 23, 2024 (GLOBE NEWSWIRE) -- The "U.S. Compounding Pharmacy Market - Industry Outlook & Forecast 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The U.S. compounding pharmacies market is expected to grow at a CAGR of 4.06% from 2023 to 2029.
The U.S. compounding pharmacies market operates in a dynamic and evolving landscape characterized by diverse players, regulatory challenges, and increasing demand for personalized medications. As healthcare trends shift towards personalized treatment solutions, the competition in this sector has intensified. Compounding pharmacies, which offer customized medications tailored to individual patient needs, compete with large pharmaceutical manufacturers, retail pharmacies, and specialized compounding firms. This competition is shaped by factors such as regulatory compliance, quality assurance, technological advancements, and market differentiation.
Furthermore, technology plays an increasingly important role in the US compounding pharmacies market. Pharmacies that invest in automation, digital platforms, and advanced compounding equipment have a competitive advantage. Automated compounding machines, for example, can enhance accuracy, reduce human error, and increase production efficiency, especially in sterile environments where precision is critical.
The key players in the U.S. compounding pharmacies market are Avella Specialty Pharmacy, CAPS, Fagron, Fresenius Kabi, and PenCol Pharmacy. Avella Specialty Pharmacy, a prominent player in the market, is known for its focus on providing personalized, high-quality compounded medications. Avella specializes in sterile and non-sterile compounding, offering a wide range of personalized medications, including hormone replacement therapies, pain management solutions, and dermatological preparations. Also, Avella invests in advanced compounding technologies and quality assurance practices to ensure the safety and efficacy of its products.
MARKET TRENDS & DRIVERS
Advanced Technology Integration
Integrating advanced technologies such as automation, robotic systems, and digital platforms creates new opportunities for the U.S. compounding pharmacies market. These innovations improve operational efficiency, enhance patient care, ensure compliance, and pave the way for future advancements in personalized medicine. As pharmacies continue to adopt these technologies, they will be better equipped to meet the evolving demands of healthcare and provide tailored medication solutions to patients. Also, adopting artificial intelligence (AI) and machine learning (ML) holds great potential for predictive analytics in compounding, such as anticipating patient needs and personalizing formulations based on genetic profiles.
Growing Demand for Compounded Bioidentical Menopausal Hormone Therapy (BMHT) Among Women
The growing demand for compounded bio-identical menopausal hormone therapy is reshaping the U.S. compounding pharmacies market, providing new opportunities for growth and innovation. As women increasingly seek personalized, natural solutions for managing menopausal symptoms, compounding pharmacies are well-positioned to meet this demand. By offering customized hormone treatments that prioritize patient safety and wellness, compounding pharmacies can capitalize on the expanding market for BMHT while contributing to the broader trend of personalized healthcare in the US.
Growing Geriatric Population & Acceptance of Personalized Medications
The growing geriatric population and the increasing acceptance of personalized medications are key drivers of the U.S. compounding pharmacies market. Compounding pharmacies are uniquely positioned to meet the complex and individualized needs of elderly patients, providing customized solutions that enhance healthcare outcomes. As demand for tailored medications grows, compounding pharmacies will continue to play a vital role in the U.S. healthcare system, providing personalized care for diverse patients.
Growing Significance of Compounding for Drug Adherence
The growing significance of compounding for drug adherence is a key driver of the U.S. compounding pharmacies market. Compounding pharmacies play a vital role in improving medication compliance and, ultimately, patient outcomes by offering customized solutions that address the specific needs of diverse patient populations. With advancements in technology and a growing focus on personalized medicine, the future of the compounding pharmacies market is poised for continued growth and innovation.
Rapid Identification of Chronic Diseases
The increasing prevalence of chronic diseases and the advancements in their rapid identification are reshaping the U.S. compounding pharmacies market. Compounding pharmacies offer customized treatment options that address the specific needs of patients with chronic conditions, improving medication adherence, patient outcomes, and overall quality of care. As the demand for personalized medicine continues to grow, compounding pharmacies will remain at the forefront of providing innovative and tailored solutions for chronic disease management, driving their expansion and influence within the healthcare sector.
COMPETITIVE LANDSCAPE
Key Company Profiles
- Avella Specialty Pharmacy
- CAPS
- Fagron
- Fresenius Kabi
- PenCol Pharmacy
Other Prominent Vendors
- Austin Compounding Pharmacy
- Capstone Compounding Pharmacy
- Charles River Laboratories
- Dougherty's Pharmacy
- Eastern States Compounding Pharmacy
- Everwell Specialty Pharmacy
- Harrow
- Hill's Compounding Pharmacy and Milford Pharmacy
- INNOVATIVE RX
- Institutional Pharmacy Solutions
- ITC Compounding Pharmacy
- McGuff Company
- MediVera Compounding Pharmacy
- Nephron Pharmaceuticals
- PCCA
- Precision Compounding Pharmacy
- QuVa Pharma
- Sixth Avenue Medical Pharmacy
- St. Anthony Pharmacy
- The Compounding Pharmacy of America
- Triangle Compounding
- Valor Compounding Pharmacy
- Vertisis Custom Pharmacy
KEY QUESTIONS ANSWERED
- How big is the U.S. compounding pharmacies market?
- What is the growth rate of the U.S. compounding pharmacies market?
- What are the significant trends in the U.S. compounding pharmacies market?
- Which compounding type segment dominates the U.S. compounding pharmacies market share?
- Who are the key players in the U.S. compounding pharmacies market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 244 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $4.89 Billion |
| Forecasted Market Value (USD) by 2029 | $6.21 Billion |
| Compound Annual Growth Rate | 4.0% |
| Regions Covered | United States |
Key Topics Covered:
Market Opportunities & Trends
- Advanced Technology Integration
- Growth in Demand for Compounded Bioidentical Menopausal Hormone Therapy Among Women
- Growth in Collaboration Between Compounding Pharmacies & Healthcare Providers
Market Growth Enablers
- Growth in Geriatric Population & Acceptance of Personalized Medications
- Growth in Significance of Compounding for Drug Adherence
- Increase in Drug Shortage in US
- Rapid Identification of Chronic Diseases
Market Restraints
- Issues Related to Safety Standards of Compounded Drugs
- Changes in Regulatory Constraints
- Poor Compounding Practices Results in Quality Problems
Segmentation by Product Type
- Oral
- Topical
- Parenteral
- Ophthalmic
- Others
Segmentation by Pharmacy Type
- 503A
- 503B
Segmentation by Sterility Type
- Sterile
- Non-sterile
Segmentation by Compounding Type
- Pharmaceutical Ingredient Alteration (PIA)
- Currently Unavailable Pharmaceutical Manufacturing (CUPM)
- Pharmaceutical Dosage Alteration (PDA)
Segmentation by Application
- Pain Management
- Hormone Replacement Therapy
- Anti-aging & Skin Care
- Nutritional Supplements
- Others
Segmentation by Age Cohort
- Adult
- Geriatric
- Pediatric
For more information about this report visit https://www.researchandmarkets.com/r/m6o00l
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