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U.S. Compounding Pharmacies Market Future Challenges and Industry Growth Outlook by 2020-2026

Author : Ronak Bora | Published Date : 2020-09-04 

U.S. Compounding Pharmacies Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

U.S. compounding pharmacies market size is poised to witness notable growth in the near future. This growth can be mainly linked with growing shortage of drugs, such as cancer medication and emergency drugs in the region. More and more people are preferring personalized medicines. In addition, the presence of an expanding geriatric population base will propel the demand for compounding pharmacies. In recent years, the region has witnessed a gradual increase in the demand for compounded bioidentical menopausal hormone therapy (BMHT) among women.

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Bioidentical hormones are generally derived from plants and are chemically and structurally similar to hormones produced by the body. Compounding pharmacists synthesize bioidentical hormones based on a prescription provided by the clinician. Global Market Insights, Inc., predicts that U.S. compounding pharmacies market size will surpass US$6.7 billion in valuation by 2026, driven by a strong demand for medication tailored to meet the specific requirements of an individual.

With increasing cases of skin diseases, the demand for compounded dermatology medications have propelled significantly in the U.S. In 2019, the dermatology segment recorded over USD 870 million. Drugs that are formulated specifically for dermatological disease are proven to be a vital solution for skin conditions. However, they might lead to minor reactions over long term use.

These drugs are also of great significance for dermatologists that deal with patients suffering from diverse skin conditions. A report by American Academy of Dermatology (AAD) Association claims that dermatologists diagnose and treat over 3,000 skin diseases which include eczema, infections, skin cancer, psoriasis, and immunological diseases. Rising prominence of these drugs in the dermatology may favor the business of compounding pharmacies in the U.S.

503B compounding pharmacies are gaining considerable momentum in the U.S. These pharmacies are capable of commencing large scale production of compounded drugs. They also have the added advantage of selling unlimited non-sterile and sterile products to healthcare facilities like hospitals and clinics under the 503B outsourcing program.

In 2019, the 503B segment had accounted for over USD 2.5 billion. While with favorable business possibilities, the segment is anticipated to record a major share in the U.S. compounding pharmacies industry over 2026.

According to a report, in 2019, the parenteral segment recorded around USD 860 million. Basically, compounded parenteral treatments offer benefits such as increased bioavailability and rapid onset of action to patients.

It further offers added advantage of localized drug delivery. These factors could spur the growth prospects of compounded parenteral drugs in the U.S., favoring its industry share.

The compounding pharmacies market of U.S. is generally segmented into adult, geriatric, pediatric and veterinary in terms of application. Among these, the pediatric segment is anticipated to witness significant strides, with around 7% CAGR over 2026.

Many children in the U.S. avoid the consumption of commercially available medications due to their flavor, color and texture. As compounded drugs can be formulated as palatable drugs for children, the significance of compounding pharmacies could bolster significantly in the U.S.  

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/us-compounding-pharmacies-market

Partial Chapter of the Table of Content 

Chapter 4.  U.S. Compounding Pharmacies Market, By Pharmacy Type

4.1. U.S. compounding pharmacies market share, by pharmacy type, 2019 & 2026

4.2. 503A compounding pharmacy

4.2.1.  U.S. compounding pharmacies market size, 2015 - 2026 (USD Mn)

4.3. 503B compounding pharmacy

4.3.1.  U.S. compounding pharmacies market size, 2015 - 2026 (USD Mn)

Chapter 5.  U.S. Compounding Pharmacies Market, By Sterility

5.1. U.S. compounding pharmacies market share, by sterility, 2019 & 2026

5.2. Sterile

5.2.1.  U.S. compounding pharmacies market size, 2015 - 2026 (USD Mn)

5.3. Non-sterile

5.3.1.  U.S. compounding pharmacies market size, 2015 - 2026 (USD Mn)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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