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.
Market Overview and Dynamics
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
US Compounding Pharmacies Market Segmentation
By Product
By Therapeutic Area
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 3,079.64 Million |
| Market Size by 2027 | US$ 5,069.56 Million |
| CAGR (2020 - 2027) | 6.5% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
United States
|
| Market leaders and key company profiles |
|
The US Compounding Pharmacies Market is valued at US$ 3,079.64 Million in 2019, it is projected to reach US$ 5,069.56 Million by 2027.
As per our report US Compounding Pharmacies Market, the market size is valued at US$ 3,079.64 Million in 2019, projecting it to reach US$ 5,069.56 Million by 2027. This translates to a CAGR of approximately 6.5% during the forecast period.
The US Compounding Pharmacies Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the US Compounding Pharmacies Market report:
The US Compounding Pharmacies Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The US Compounding Pharmacies Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the US Compounding Pharmacies Market value chain can benefit from the information contained in a comprehensive market report.
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