by The U.S. injectable compounding pharmacy market involves compounding sterile preparations such as total parenteral nutrition (TPN), pain management therapies, hormone replacement therapies and other medications prescribed by healthcare professionals. Injectable compounding pharmacies utilize expertise in pharmacy compounding to provide specialized medications tailored to meet individual needs for patients who may be unable to use commercially available off-the-shelf products. They produce precise formulations, concentrations and dosage forms for direct administration into the body via routes such as intravenously, intramuscularly and subcutaneously.
The global U.S. injectable compounding pharmacy market is estimated to be valued at US$ 1517.34 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growing demand for personalized medications is a key driver expected to fuel the flourishing of the U.S. injectable compounding pharmacy market over the forecast period. Patients often require customized drug formulations due to allergies, side effects or inability to swallow pills/medications in their commercial forms. Injectable compounding provides an avenue for healthcare professionals to individualize treatment as per changing medical needs. Moreover, an aging population prone to complex conditions also contributes to increased demand for compounded drugs tailored for specific diseases, dosages or administration methods. Compounded injectables allow for alteration of drug ingredients, delivery methods as well as formulations like suspensions and elixirs as an alternative to commercially available drugs. This ability to optimize treatment regimens according to individual patient requirements and medical circumstances promotes better health outcomes, thereby propelling market growth.
Segment Analysis:
The U.S. injectable compounding pharmacy market is segmented into hormonal therapies, pain management, wound care, chemotherapy alternatives, and others. The pain management segment dominates the market and accounts for over 35% share due to the increasing prevalence of chronic pain disorders like arthritis. It involves compounding sterile preparations of drugs like lidocaine, bupivacaine, and morphine to relieve pain.
PEST Analysis:
- Political: The market is regulated by regulatory bodies like the FDA that ensure compounding facilities adhere to cGMP standards for sterile production. Favorable reimbursement policies also support the market growth.
- Economic: The rising healthcare spending in the U.S. and increasing affordability have boosted the demand for customized injectable medications prepared by compounding pharmacies. The market receives returns on investment in advanced production technologies.
- Social: An aging population prone to chronic diseases, and a growing awareness about personalized medications are driving patients to seek compounding pharmacy services. Further, social media promotions by pharmacies attract more patients.
- Technological: Compounding pharmacies are equipped with automated compounding devices and robotic technologies to accurately prepare sterile doses. Track-and-trace software ensures products maintain quality from production to the patient.
Key Takeaways:
The Global U.S. Injectable Compounding Pharmacy Market Growth is expected to witness high. The global U.S. injectable compounding pharmacy market is estimated to be valued at US$ 1517.34 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030.
Western states like California, Texas, and Florida account for over 60% of the market share due to the large patient pool and high concentration of compounding pharmacies.
Key players operating in the U.S. Injectable Compounding Pharmacy Market are Central Admixture Pharmacy Services, Inc., Nephron Pharmaceuticals Corporation, QuVa Pharma, Olympia Pharmacy, ASP Cares, Fagron Compounding Pharmacies, Athenex, Inc., Avella Specialty Pharmacy, Atlas Pharmaceuticals, Empower Pharmacy, Carie Boyd’s Prescription Shop, Edge Pharma, Imprimis NJOF, LLC, IntegraDose Compounding Services, LLC, Wells Pharma of Houston, LLC, US Compounding Inc., SCA Pharma, and Vertisis Custom Pharmacy. Key players are focused on expanding their production capacities and service portfolios through collaborations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
