Compounding Pharmacies Market in the US to Exceed USD 6.7B by 2026: Global Market Insights, Inc.

SELBYVILLE, Del., March 19, 2020 (Newswire.com) - ​According to the latest report “United States Compounding Pharmacies Market by Pharmacy Type (503A, 503B), Sterility (Sterile, Non-sterile), Product (Oral, Topical, Rectal, Parenteral, Nasal, Ophthalmic, Otic), Application (Paediatric, Adult, Geriatric, Veterinary), Compounding Type (Pharmaceutical Ingredient Alteration, Currently Unavailable Pharmaceutical Manufacturing, Pharmaceutical Dosage Alteration), Therapeutic Area (Hormone Replacement, Pain Management, Dermatology, Specialty Drugs, Nutritional Supplements), Region, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of the United States compounding pharmacies will reach $6.7 billion by 2026.

Growing demand for compounded bioidentical menopausal hormone therapy (BMHT) among women will trigger U.S. compounding pharmacies' market growth. Demand for compounded menopausal therapy is increasing in the U.S., owing to the availability of medication tailored to meet the specific needs of an individual patient. Bioidentical hormones are derived from plants and are structurally or chemically similar to those produced in the body. Compounding pharmacists prepare compounded bioidentical hormones based on a healthcare provider’s prescription. These benefits are anticipated to drive market demand.

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The 503B segment accounted for more than USD 2.5 billion in 2019 and will witness considerable growth during the forecast period. Large scale production from 503B pharmacies will drive the segment growth over the forecast timeframe. Also, the pharmacies under the 503B outsourcing program may sell unlimited sterile and non-sterile products to various healthcare facilities, including clinics and hospitals.

The non-sterile segment accounted for more than 70% of the total U.S. compounding pharmacies market in 2019. Adoption of non-sterile compounded drugs is high among the patient population, owing to ease of drug administration, thereby propelling the segmental growth.

The parenteral segment accounted for around USD 860 million in 2019. Compounded parenteral preparations offer various benefits to patients, such as increased bioavailability and rapid onset of action. It also offers the advantage of localized drug delivery, thus boosting the segmental growth.

The pediatric segment in the U.S. compounding pharmacies market is will witness around a 7% CAGR over the projected timeframe. Many children refuse commercially available medication for its color, texture or taste. A major benefit of compounded drugs is that it allows one to formulate palatable drugs for children and increase its acceptance among them.

The pharmaceutical dosage alteration (PDA) segment is projected to witness around a 6% CAGR over the projected timeline. Demand for altered dosage forms among the elderly population is high, owing to the difficulty in swallowing large pills, thus driving pharmaceutical dosage alteration (PDA) segment growth.

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The dermatology segment accounted for over USD 870 million in 2019. Compounded medications provide precise treatment for skin conditions with fewer adverse reactions while offering long-term solution. According to the American Academy of Dermatology (AAD) Association, dermatologists diagnose and treat more than 3,000 skin diseases, including skin cancer, eczema, infections, psoriasis, and immunological diseases.

Some of the prominent participants operating in the U.S. compounding pharmacies market include B. Braun Medical, US Compounding Pharmacy, Dougherty's Pharmacy, Fagron, Fresenius Kabi, Institutional Pharmacy Solutions, ImprimisRx, McGuff Company, Pencol Compounding Pharmacy, PharMEDium Healthcare Holdings, Rx3 Compounding Pharmacy, Triangle Compounding Pharmacies, and Wedgewood Village Pharmacy.

Some major findings of the compounding pharmacies market report in the U.S. include:

• Increasing shortage of drugs such as cancer medicines and emergency drugs will act as a major impact rendering factor for market growth.
   
•   Factors such as the growing acceptance of personalized medicines and an increasing geriatric population will further propel the demand for the U.S. compounding pharmacies market.
   
•   Convenience and benefits of compounded drugs, such as creating dosages of medication that are not produced commercially and formulate liquid doses for patient with difficulty in swallowing pills, will drive the industry growth.

Table of Contents (ToC) of the report:

Chapter 3.  U.S. Compounding Pharmacies Market Insights

3.1. Industry segmentation

3.2. Industry size and forecast, 2015 - 2026

3.3. Industry impact forces

3.3.1.  Growth drivers

3.3.2.  Industry pitfalls & challenges

3.4. Growth potential analysis

3.5. Regulatory landscape

3.6. Reimbursement landscape

3.7. Innovative compounding technologies

3.7.1.  Web-based quality management system

3.7.2.  Digital tools

3.8. Porter’s analysis

3.9. Competitive landscape, 2019

3.9.1.   Strategy dashboard

3.10.  PESTEL analysis

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About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.

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Source: Global Market Insights, Inc.