The USA compounding pharmacies market size was projected to be worth US$ 10,326.0 million in 2022. By the end of 2023, the market is likely to reach a valuation of US$ 11,099.0 million. The global market for USA Compounding Pharmacies is likely to garner a 7.8% CAGR and reach a market worth US$ 23,430.35 million by 2033.
Key Market Trends and Highlights
| Attributes | Key insights |
|---|---|
| Estimated Market Value in 2022 | US$ 10,326.0 million |
| Expected Market Value in 2023 | US$ 11,099.0 million |
| Expected Market Value in 2033 | US$ 23,430.35 million |
| Value-based CAGR from 2023 to 2033 | 7.80% |
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During the historical period, 2018 to 2022, the USA compounding pharmacies market grew at CAGR of 5.2%.
| Report Attributes | Details |
|---|---|
| Market value in 2018 | US$ 8,430.81 million |
| Market value in 2022 | US$ 10,326.0 million |
| CAGR from 2018 to 2022 | 5.2% |
The market is expanding because of rising health awareness and improved healthcare infrastructure. Precision medicine, commonly referred to as personalized medicine or tailored medicine, provides patients with superior healthcare results.
Through compounding, the pharmacist may tailor medications to each patient's needs, giving patients a greater chance to fight disease. The need for compounding pharmacies in the USA is anticipated to increase over the next ten years due to the country's strong healthcare industry.
The Food and Drug Administration (FDA) of the United States offers regulations for preserving the caliber of medicines. Each state has its own laws and rules governing the operation of a compounding pharmacy. These rules aid in increasing patients' trust in compounding pharmacies and are anticipated to boost demand for them over the projection period.
Principal Consultant
The below table highlights how oral and tropical medication products is projected to lead the regional market in terms of product. These products acquired a 60.5% market share in 2022.
The hormone replacement therapeutics was estimated to have acquired 39% market share of the USA compounding pharmacies market. From the perspective of pharmacy type, the traditional compounding pharmacies is expected to gain traction. In 2022, these kinds of pharmacies were estimated to have gained 27.8% of the regional market share.
| Category | Market share in 2022 |
|---|---|
| Oral and Tropical Medication | 60.5% |
| Hormone Replacement Therapeutics | 39% |
| Traditional compounding pharmacies | 27.8% |
Based on product type, the oral and tropical medication segment is expected to continue leading the USA compounding pharmacies market. In 2022, the segment gained a regional market share above 60%.
Numerous medications can be taken orally in the form of liquids, tablets, capsules, or chewable tablets. The oral route is the one that is most frequently utilized since it is the most practical, typically the safest, and least costly.
The segment of oral medications is growing as a result of rising sales and the expiration of blockbuster medications. Over US$ 1 billion in sales were earned yearly by blockbuster pharmaceuticals over the past five years.
Compounding pharmacies in the United States experience high demand for these medications. These drugs is mostly used to alleviate mild ailments like fever and joint pain. They also promote sleep, strengthen the immune system, lessen anxiety, and soothe itching. Skin irritations can also be treated with these drugs.
Tropical medications, on the other hand, like creams and gels are also gaining traction throughout the United States market for compounding pharmacies. Patients are generally afraid of the injections and the oral medicines, but not about the tropicals. Doctors, thus, prescribe the patients tropicals whenever feasible.
It is remarkable how frequently topical medications have been used recently. This is primarily attributable to the medication's shown superior benefits over disadvantages. After all, the skin generates both systemic and local effects, making it the perfect delivery route for drugs.
Based on therapeutic area, hormone replacement therapeutics is expected to continue gaining traction in the USA compounding pharmacies market. In 2022, the segment gained a 39% market share.
In order to suit the individual demands of each patient, hormone replacement treatment frequently necessitates customized formulations. Compounding pharmacies are experts in making hormone treatments that are individually suited to the preferences as well as hormone levels of each patient.
In December 2022, prescriptions for hormone replacement therapy grew by 13.74% annually, from 5.02 per 1000 person-years-at-risk (PYAR) in 2010 to 18.17 per 1000 PYAR in 2021, according to the National Center for Biotechnology Information analysis.
With an older population in the United States, more individuals are choosing HRT to lessen side effects like hot flashes as well as pain problems, as well as, in certain circumstances, to slow the spread of cancer. The necessity for hormone replacement treatment in the United States has also grown due to the growing incidence of breast cancer.
In 2022, the traditional pharmacies segment acquired over 27% of the USA compounding pharmacies market share. The State Boards of Pharmacy in the United States of America govern traditional compounding pharmacies, sometimes referred to as "503A compounding pharmacies." Law in the nation that the standards established by the United States Pharmacopoeia (USP) be included into routine pharmacy compounding procedures requires it.
The segment's rise is also being aided by the widespread usage of branded prescription counterparts produced off-label. These pharmacies can supply medication on a patient's prescription, even in circumstances of unavailable or discontinued medications.
Sales of these medications are anticipated to rise throughout the projection period since they are still needed for treatments that need for customized dosing. These compounding pharmacies are often located in smaller communities with fewer major retail pharmacies.
The Federal Food, Drug, and Cosmetic Act states that the FDA is not in charge of managing or supervising these pharmacies. A drug product that is created for a specific patient based on the uninvited receipt of a legal prescription is exempt from the legislation.
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Various new companies are setting up their dominance in the United States market for compounding pharmacies. Few of the notable start-ups have been mentioned below:
| Company | Offerings/ Products |
|---|---|
| Fagron |
|
| CompounderRx |
|
| Innovative Pharmacy Solutions |
|
The existence of several independent pharmacies that exist in various locations throughout the United States has led to a highly fragmented industry.
The industry's players are putting an emphasis on growth and innovation while carrying out calculated business measures to maintain competition. A few of developments by some companies in this domain are provided.
| Market Player | Key Development(s) |
|---|---|
| Harrow |
|
| Nephron Pharmaceuticals Corporation |
|
| Fagron |
|
| Attribute | Details |
|---|---|
| Projected market value in 2023 | US$ 11,099.0 million |
| Projected market value in 2033 | US$ 23,430.35 million |
| Forecast CAGR from 2023 to 2033 | 7.8% |
| Forecast period | 2023 to 2033 |
| Historical period | 2018 to 2022 |
| Market analysis | Value in US$ million |
| Key Market Segments |
|
| Key Companies Profiled |
|
The USA compounding pharmacies market is expected to reach US$ 11099.0 million in 2023.
The USA compounding pharmacies market is set to expand by a CAGR of 7.80% by 2033.
The USA compounding pharmacies industry is forecast to reach US$ 23,430.35 million by 2033.
The oral and tropical medication acquired 60.5% in 2022 and the same trend will continue.
In 2022, hormone replacement therapy had 39% market share.
1. Executive Summary
1.1. USA Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Product, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Product, 2023 to 2033
5.3.1. Oral Medication
5.3.1.1. Solid Medication
5.3.1.2. Liquid Medication
5.3.1.3. Topical Medication
5.3.2. Injectable
5.3.3. Mouthwashes
5.3.4. Nasal
5.3.5. Ocular
5.3.6. Otic
5.3.7. Suppositories and Enemas
5.4. Y-o-Y Growth Trend Analysis By Product, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product, 2023 to 2033
6. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Pharmacy Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Pharmacy Type, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Pharmacy Type, 2023 to 2033
6.3.1. 503A Pharmacy
6.3.2. 503B Pharmacy
6.4. Y-o-Y Growth Trend Analysis By Pharmacy Type, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Pharmacy Type, 2023 to 2033
7. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis by Application, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast by Application, 2023 to 2033
7.3.1. Adults
7.3.2. Pediatrics
7.3.3. Geriatrics
7.3.4. Veterinary
7.4. Y-o-Y Growth Trend Analysis by Application, 2018 to 2022
7.5. Absolute $ Opportunity Analysis by Application, 2023 to 2033
8. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Therapeutic Area
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Million) Analysis By Therapeutic Area, 2018 to 2022
8.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Therapeutic Area, 2023 to 2033
8.3.1. Hormone Replacement Therapy
8.3.2. Pain Management
8.3.3. Dermatology
8.3.4. Oncology
8.3.5. Hematology
8.3.6. Dental
8.3.7. Others
8.4. Y-o-Y Growth Trend Analysis By Therapeutic Area, 2018 to 2022
8.5. Absolute $ Opportunity Analysis By Therapeutic Area, 2023 to 2033
9. Market Structure Analysis
9.1. Competition Dashboard
9.2. Competition Benchmarking
9.3. Market Share Analysis of Top Players
9.3.1. By Regional
9.3.2. By Product
9.3.3. By Pharmacy Type
9.3.4. By Application
9.3.5. By Therapeutic Area
10. Competition Analysis
10.1. Competition Deep Dive
10.1.1. Avella Specialty Pharmacy
10.1.1.1. Overview
10.1.1.2. Product Portfolio
10.1.1.3. Profitability by Market Segments
10.1.1.4. Sales Footprint
10.1.1.5. Strategy Overview
10.1.1.5.1. Marketing Strategy
10.1.2. Central Admixture Pharmacy Services Inc.
10.1.2.1. Overview
10.1.2.2. Product Portfolio
10.1.2.3. Profitability by Market Segments
10.1.2.4. Sales Footprint
10.1.2.5. Strategy Overview
10.1.2.5.1. Marketing Strategy
10.1.3. Hoye’s Pharmacy
10.1.3.1. Overview
10.1.3.2. Product Portfolio
10.1.3.3. Profitability by Market Segments
10.1.3.4. Sales Footprint
10.1.3.5. Strategy Overview
10.1.3.5.1. Marketing Strategy
10.1.4. Vertisis Custom Pharmacy
10.1.4.1. Overview
10.1.4.2. Product Portfolio
10.1.4.3. Profitability by Market Segments
10.1.4.4. Sales Footprint
10.1.4.5. Strategy Overview
10.1.4.5.1. Marketing Strategy
10.1.5. Smith Caldwell Drug Store
10.1.5.1. Overview
10.1.5.2. Product Portfolio
10.1.5.3. Profitability by Market Segments
10.1.5.4. Sales Footprint
10.1.5.5. Strategy Overview
10.1.5.5.1. Marketing Strategy
10.1.6. Sixth Avenue Medical Pharmacy
10.1.6.1. Overview
10.1.6.2. Product Portfolio
10.1.6.3. Profitability by Market Segments
10.1.6.4. Sales Footprint
10.1.6.5. Strategy Overview
10.1.6.5.1. Marketing Strategy
10.1.7. Cantrell Drug Company
10.1.7.1. Overview
10.1.7.2. Product Portfolio
10.1.7.3. Profitability by Market Segments
10.1.7.4. Sales Footprint
10.1.7.5. Strategy Overview
10.1.7.5.1. Marketing Strategy
10.1.8. Clinigen Group, Dougherty’s Pharmacy
10.1.8.1. Overview
10.1.8.2. Product Portfolio
10.1.8.3. Profitability by Market Segments
10.1.8.4. Sales Footprint
10.1.8.5. Strategy Overview
10.1.8.5.1. Marketing Strategy
10.1.9. Fagron N.V.
10.1.9.1. Overview
10.1.9.2. Product Portfolio
10.1.9.3. Profitability by Market Segments
10.1.9.4. Sales Footprint
10.1.9.5. Strategy Overview
10.1.9.5.1. Marketing Strategy
11. Assumptions & Acronyms Used
12. Research Methodology
Healthcare
March 2024
REP-GB-1664
324 pages
Explore Healthcare Insights
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USA Compounding Pharmacies Market
