US Compounding Pharmacies Market

Market Introduction

In the US compounding pharmacies market, conventional compounding pharmacies operate without the supervision of the US FDA. The State Boards of Pharmacy is engaged in regulation of the conventional compounding, also known as ‘within border’ compounding pharmacies. The US Pharmacopeia (USP) has set the standards for pharmacy compounding practices in most states. US compounding pharmacies operate through five main channels: independent store, compounding departments in hospital, part of a big retail drug manufacturer chain, store with an online order-delivery system, and multiple-location shops. In the US, compounding pharmacies are majorly found in independent store format.

US Compounding Pharmacies Strategic Insights

Strategic insights for the US Compounding Pharmacies provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

US Compounding Pharmacies Report Scope

US Compounding Pharmacies Regional Insights

The geographic scope of the US Compounding Pharmacies refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The US compounding pharmacies market is expected to reach US$ 5,069.56 million by 2027 from US$ 3,079.64 million in 2019. The market is anticipated to grow at a CAGR of 6.5% from 2020 to 2027. Factors driving the market include the drug shortage crisis in the US and benefits associated with compounded medications. However, product recalls and stringent regulatory requirements are likely to hinder the market growth during the forecast period.

Key Market Segments

In terms of product, the oral medications segment held the largest share of the market in 2019; however, the topical medications segment is anticipated to register the highest CAGR in the market during the forecast period. In terms of therapeutic area, the pain medications segment held the largest share in 2019 and the same segment is estimated to register the largest market share during the forecast period.

Major Sources

Alliance for Pharmacy Compounding, Compounders' Shortage Drug Source for Hospitals, International Academy of Compounding Pharmacists, National Health Service, National Association of Specialty Pharmacy, and World Health Organization are among the major primary and secondary sources for the US compounding pharmacies market included in the report.

Reasons to Buy Report

• To understand the US compounding pharmacies market landscape and identify market segments that are most likely to guarantee a strong return
• To stay ahead of the race by comprehending the ever-changing competitive landscape for the US compounding pharmacies market
• To efficiently plan M&A and partnership deals in the US compounding pharmacies market by identifying market segments with the most promising probable sales
• To help in taking knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segments that form the US compounding pharmacies market
• To obtain the market revenue forecast for market by various segments from 2019 to 2027 in the US

US Compounding Pharmacies Market Segmentation

By Product

• Oral Medications
• Topical Medications
• Suppositories
• Others

By Therapeutic Area

• Pain Medications
• Dermatological Applications
• Hormone Replacement Therapies
• Others

Company Profiles

• Fagron
• Triangle compounding pharmacy
• Institutional pharmacy solutions, LLC
• B. Braun melsungen ag
• Pharmedium services LLC
• Fresenius kabi ag
• Avella specialty pharmacy
• Pencol Compounding Pharmacy
• Vertisis custom pharmacy
• US Compounding Inc.