April 20, 2024
U.S. Injectable Compounding Pharmacy Market

U.S. Injectable Compounding Pharmacy Market Is Driving Customization For Complex Medication Therapies

The U.S. injectable compounding pharmacy market deals in the compounding, preparation, dispensing, and administration of customized injectable medications in novel delivery systems or dosages as prescribed by physicians. Customizing injectable medications allows addressing specific clinical needs of patients that are not met by commercially available products. Key ingredients used in injectables include medications such as analgesics, antibiotics, hormones, and other types of active pharmaceutical ingredients. Various delivery forms including suspensions, emulsions, sterile preparations, and lyophilized products are offered. Injectable compounding helps improve patient compliance and therapeutic outcomes through patient-specific sterile preparations. The tailoring of dosage strength, elimination of allergens, and adaptation of different routes of administration enhances clinical effectiveness.

The U.S. injectable compounding pharmacy market is estimated to be valued at US$ 1747.98 million in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the U.S. Injectable Compounding Pharmacy Market Demand are PerkinElmer, LabLogic Systems Ltd., Hidex Oy, Intertechnique, LabLogic Systems Limited, AMETEK Inc, Beckman Coulter Inc, Berthold Technologies GmbH & Co. KG, Bio-Rad Laboratories Inc., Hach. Growing aging population suffering from chronic conditions drives the demand for customized medication therapies. Furthermore, shortages of essential generic drugs encourage the development of alternative formulations through compounding.

The rising geriatric population prone to chronic diseases like cancer, diabetes, and cardiovascular ailments has fueled the need for tailored medication. As Americans aged 65 and above are estimated to grow from 56 million to over 88 million by 2050, demand for targeted treatment will rise immensely. Additionally, complicated conditions often require adjustments in dosage form, strength, and delivery route that compounding pharmacies provide.

The injectable compounding pharmacy market is expanding globally with companies venturing into international markets. For instance, major players have established operations across Australia, Canada, the UK, and Latin American countries to match the growing needs overseas. This expansion allows addressing the complex medication requirements worldwide through safe, high-quality compounded preparations.

Market Key Trends

A key trend gaining traction in the U.S. injectable compounding pharmacy market is the use of advanced technologies for enhanced safety and quality. Players are significantly investing in analytical testing, medical equipment, and robotics to reduce contamination risks and perform complex formulations more precisely. For example, the adoption of aseptic isolators and barrier technologies creates a safer environment for sterile manufacturing. Such technological upgrades help meet the stringent regulations of medical boards and drug enforcement agencies.

Porter’s Analysis

Threat of new entrants: High entry barriers due to capital requirements and need for FDA approvals makes threat of new entrants low.

Bargaining power of buyers: Large group of individual consumers with unique clinical needs gives them more bargaining power.

Bargaining power of suppliers: Relatively few suppliers of raw materials and equipment gives them stronger power in negotiations.

Threat of new substitutes: Potential threat from new types of customized medications and biosimilars.

Competitive rivalry: Intense competition between existing players to gain market share and expand service offerings.

Geographical Regions

The US injectable compounding pharmacy market is highly concentrated in regions with large urban populations like the Midwest and West Coast regions. States like California, Texas, Florida and New York account for over 35% of the total market value due to their dense populations and higher healthcare needs.

The Southeast region centered around states like North Carolina, South Carolina, Georgia and Tennessee is witnessing the fastest market growth. This is attributed to expanding geriatric population, growing chronic disease prevalence and establishment of new specialty compounding pharmacies in these areas. The growth rate in the Southeast region is projected to be around 6-7% annually during the forecast period.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it