North America Sterile Compounding Pharmacies Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Injectable Drugs and Infusions) and Route of Administration (Intravenous, Intramuscular, and Subcutaneous)
The sterile compounding pharmacies market in North America is expected to grow from US$ 1,997.45 million in 2021 to US$ 3,218.93 million by 2028; it is estimated to grow at a CAGR of 7.1% from 2021 to 2028.
Personalized medicine has gained significant attention due to its specific drug delivery and dosing capabilities. According to the report published by Personalized Medicine Coalition, personalized medicines accounted for more than a quarter of all new therapeutics approved since 2015. For instance, the Food and Drug Administration (FDA) Center for Drug Evaluation and Research (CDER) approved 53 new molecular entities (NMEs) in 2020. Among the 49 therapeutics NMES, 19 (almost 39%) are personalized medicines. This is the highest percentage since 2018, where personalized medicines accounted for 42% of the newly approved NMEs. Sterile compounding medications act as the best alternative for traditional pharmacy compounding practices, especially for meeting specific medical needs of patients that the FDA-approved drugs cannot meet. For example, sterile compounding pharmacies offer customized (personalized) formulations, such as injectable drugs, via different administration routes to create dosages as per patients' requirements related to strengths or forms that can eliminate components of FDA-approved drugs that patients are allergic to. Moreover, in some cases, where patients do not respond to traditional forms of treatment or need a different administration route with diverse strengths, sterile products fulfill these needs by offering customized patient solutions. With compounding being considered an essential part of customized medicine, the accelerating demand for precision therapies in recent years has opened new revenue streams for sterile compounding pharmacies. Several key players have begun to focus on inorganic growth strategies for innovating and developing efficient products, which is further anticipated to drive the market in North America.
Both community and hospital compounding units were heavily involved in managing the COVID-19 pandemic. The increased demand for personal protective equipment (PPE) and other supplies has left many hospitals struggling to maintain the integrity and safety of their sterile compounding operations. Also, during the pandemic situation, United States Pharmacopeia (USP) published a new guidance document addressing operational concerns regarding sterile compounding during the COVID-19 crisis. Hospitals are taking seriously the need to adjust their approaches to sterile compounding due to COVID-19 related equipment shortages. The degree of adjustment needed varies widely from day to day and institution to institution. Apart from that, as per the report released by the Government of Canada, the pandemic has created a number of challenges for businesses. For example, disruptions in supply chain and distribution chains and the limited availability of contract service providers affect the ability to perform tasks such as external calibration and specialized equipment maintenance. Thus, the aforementioned factors have highly impacted the sterile compounding pharmacies market.
North America Sterile Compounding Pharmacies Market Revenue and Forecast to 2028 (US$ Million)
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North America Sterile Compounding Pharmacies Market Segmentation
North America Sterile Compounding Pharmacies Market – By Product
- Injectable Drugs
- Infusions
North America Sterile Compounding Pharmacies Market – By Route of Administration
- Intravenous
- Intramuscular
- Subcutaneous
North America Sterile Compounding Pharmacies Market– By Country
- US
- Canada
- Mexico
North America Sterile Compounding Pharmacies Market-Companies Mentioned
- Avella Specialty Pharmacy
- B. Braun Melsungen AG
- Fagron, Inc.
- Fresenius Kabi AG
- Pace Pharmacy
- Pavilion Compounding Pharmacy, LLC.
- Pencol Compounding Pharmacy
- PharMEDium Healthcare Holdings, Inc.
- SandsRx
- Triangle Compounding Pharmacy
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Sterile Compounding Pharmacies Market – By Product
1.3.2 North America Sterile Compounding Pharmacies Market – By Route of Administration
1.3.3 North America Sterile Compounding Pharmacies Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Sterile Compounding Pharmacies Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America PEST Analysis
4.3 Experts Opinion
5. North America Sterile Compounding Pharmacies Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Uptake of Personalized Medicines
5.1.2 Benefits of On-site Sterile Compounding
5.2 Market Restraints
5.2.1 Product Recalls and Stringent Regulatory Requirements
5.3 Market Opportunities
5.3.1 Development of Centralized or Regional Compounding Centers for Customized Formulation
5.4 Future Trends
5.4.1 Continued Support for Outsourcing Facilities and Manufacturing
5.5 Impact Analysis
6. Sterile Compounding Pharmacies Market– North America Analysis
6.1 North America Sterile Compounding Pharmacies Market Revenue Forecast and Analysis
7. North America Sterile Compounding Pharmacies Market– by Product
7.1 Overview
7.2 North America Sterile Compounding Pharmacies Market, By Product, 2021 & 2028 (%)
7.3 Injectable Drugs
7.3.1 Overview
7.3.2 Injectable Drugs: North America Sterile Compounding Pharmacies Market Revenue and Forecasts to 2028 (US$ Million)
7.4 Infusions
7.4.1 Overview
7.4.2 Infusions: North America Sterile Compounding Pharmacies Market Revenue and Forecasts to 2028 (US$ Million)
8. North America Sterile Compounding Pharmacies Market– by Route of Administration
8.1 Overview
8.2 North America Sterile Compounding Pharmacies Market Share by Route of Administration - 2021 & 2028 (%)
8.3 Subcutaneous
8.3.1 Overview
8.3.2 Subcutaneous: North America Sterile Compounding Pharmacies Market Revenue and Forecast to 2028 (US$ Million)
8.4 Intravenous
8.4.1 Overview
8.4.2 Intravenous: North America Sterile Compounding Pharmacies Market Revenue and Forecast to 2028 (US$ Million)
8.5 Intramuscular
8.5.1 Overview
8.5.2 Intramuscular: North America Sterile Compounding Pharmacies Market Revenue and Forecast to 2028 (US$ Million)
9. North America Sterile Compounding Pharmacies Market– Country Analysis
9.1 North America: Sterile Compounding Pharmacies Market
9.1.1 Overview
9.1.3 North America: Sterile Compounding Pharmacies Market, by Country, 2021 & 2028 (%)
9.1.3.1 US: Sterile Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
9.1.3.1.1 Overview
9.1.3.1.2 US: Sterile Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
9.1.3.1.3 US: Sterile Compounding Pharmacies Market, by Product, 2019–2028 (US$ Million)
9.1.3.1.4 US: Sterile Compounding Pharmacies Market, by Route of Administration, 2019–2028 (US$ Million)
9.1.3.2 Canada: Sterile Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
9.1.3.2.1 Overview
9.1.3.2.2 Canada: Sterile Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
9.1.3.2.3 Canada: Sterile Compounding Pharmacies Market, by Product, 2019–2028 (US$ Million)
9.1.3.2.4 Canada: Sterile Compounding Pharmacies Market, by Route of Administration, 2019–2028 (US$ Million)
9.1.3.3 Mexico: Sterile Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
9.1.3.3.1 Overview
9.1.3.3.2 Mexico: Sterile Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
9.1.3.3.3 Mexico: Sterile Compounding Pharmacies Market, by Product, 2019–2028 (US$ Million)
9.1.3.3.4 Mexico: Sterile Compounding Pharmacies Market, by Route of Administration, 2019–2028 (US$ Million)
10. Impact Of COVID-19 Pandemic on North America Sterile Compounding Pharmacies Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Sterile Compounding Pharmacies Market–Industry Landscape
11.1 Overview
11.2 Organic Developments
11.2.1 Overview
11.3 Inorganic Developments
11.3.1 Overview
12. Company Profiles
12.1 Fagron, Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Triangle Compounding Pharmacy
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 B. Braun Melsungen AG
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Phar MEDium Healthcare Holdings, Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Fresenius Kabi AG
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Avella Specialty Pharmacy
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Pencol Compounding Pharmacy
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Pavilion Compounding Pharmacy, LLC.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Pace Pharmacy
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 SandsRx
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Sterile Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. US Sterile Compounding Pharmacies Market, by Product – Revenue and Forecast to 2028 (US$ Million)
Table 3. US Sterile Compounding Pharmacies Market, by Route of Administration– Revenue and Forecast to 2028 (US$ Million)
Table 4. Canada: Sterile Compounding Pharmacies Market, by Product – Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada Sterile Compounding Pharmacies Market, by Route of Administration– Revenue and Forecast to 2028 (US$ Million)
Table 6. Mexico: Sterile Compounding Pharmacies Market, by Product – Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico Sterile Compounding Pharmacies Market, by Route of Administration– Revenue and Forecast to 2028 (US$ Million)
Table 8. Organic Developments in the North America Sterile Compounding Pharmacies Market
Table 9. Inorganic Developments in the North America Sterile Compounding Pharmacies Market
Table 10. Glossary of Terms
LIST OF FIGURES
Figure 1. North America Sterile Compounding Pharmacies Market Segmentation
Figure 2. North America Sterile Compounding Pharmacies Market, By Country
Figure 3. North America Sterile Compounding Pharmacies Market Overview
Figure 4. Injectable Drugs Segment Held Largest Share of Product Segment in North America Sterile Compounding Pharmacies Market
Figure 5. US is Expected to Show Remarkable Growth During the Forecast Period
Figure 6. North America: PEST Analysis
Figure 7. Experts Opinion
Figure 8. Impact Analysis of Drivers and Restraints About North America Sterile Compounding Pharmacies Market
Figure 9. North America Sterile Compounding Pharmacies Market – Revenue Forecast and Analysis – 2020- 2028
Figure 10. North America Sterile Compounding Pharmacies Market, by Product, 2021 & 2028 (%)
Figure 11. Injectable Drugs: North America Sterile Compounding Pharmacies Market Revenue and Forecasts to 2028 (US$ Million)
Figure 12. Infusions: North America Sterile Compounding Pharmacies Market Revenue and Forecasts to 2028 (US$ Million)
Figure 13. North America Sterile Compounding Pharmacies Market Share by Route of Administration - 2021 & 2028 (%)
Figure 14. Subcutaneous: North America Sterile Compounding Pharmacies Market Revenue and Forecasts to 2028 (US$ Million)
Figure 15. Intravenous: North America Sterile Compounding Pharmacies Market Revenue and Forecasts to 2028 (US$ Million)
Figure 16. Intramuscular: North America Sterile Compounding Pharmacies Market Revenue and Forecasts To 2028 (US$ Million)
Figure 17. North America: Sterile Compounding Pharmacies Market, by Key Country – Revenue (2021) (US$ Million)
Figure 18. North America: Sterile Compounding Pharmacies Market, by Country, 2021 & 2028 (%)
Figure 19. US: Sterile Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Canada: Sterile Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Mexico: Sterile Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Impact of COVID-19 Pandemic in North American Country Markets
- Avella Specialty Pharmacy
- B. Braun Melsungen AG
- Fagron, Inc.
- Fresenius Kabi AG
- Pace Pharmacy
- Pavilion Compounding Pharmacy, LLC.
- Pencol Compounding Pharmacy
- PharMEDium Healthcare Holdings, Inc.
- SandsRx
- Triangle Compounding Pharmacy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America Sterile Compounding Pharmacies Market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America Sterile Compounding Pharmacies Market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the Sterile Compounding Pharmacies Market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution