U.S. Compounding Pharmacies Market 2021 Growth, COVID Impact, Trends Analysis Report

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U.S. Compounding Pharmacies Market Professional
Survey Report 2021 SWOT Analysis, COVID-19
Impact, Growth Opportunities, Competitive
Landscape And Revenue

• April 2021

Report Id REP-US-978 Published On
2019-05-09Category Healthcare, Pharmaceuticals
Medical Devices
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U.S. Compounding Pharmacies Market Analysis
According to a recent research by Future Market
Insights (FMI), the global compounding pharmacies
market is estimated to have accounted around US
8 Bn in terms of value during 2018. The report on
the U.S. compounding pharmacies market also
projects that the market will grow at a CAGR of
approximately 5 during the period
2018-2028. The U.S. compounding pharmacies
market revenue is expected to increase at a
robust growth rate over the next few years
despite the reporting of several adverse events
and drug mismanagement-related deaths. The U.S.
compounding pharmacies market is expected to gain
popularity in several regions of the U.S. due to
upcoming products and therapeutic areas that are
yet to be tapped by branded manufacturers. Focus
on factors, such as the availability of drugs in
innovative medium/forms and the administration of
varying dosages for various indications, is
expected to drive the adoption of newer dosage
forms of compounded medications.
Download the Sample copy of Report with Table of
Contents and Figures https//www.futuremarketinsi
ghts.com/reports/sample/rep-us-978
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U.S. Compounding Pharmacies Market Analysis
Market Remains Influenced by Availability of
Compounded Pain Management Drugs The growing
popularity of pain management therapies is
fuelling the growth of U.S. compounding
pharmacies market. Compounded pain management
drugs are not FDA-approved, however, they come
under the State Pharmacies Board supervision in
the U.S. For example, medical guidelines such as
the Chronic Pain Guidelines stated by the Medical
Treatment Utilization Schedule (MTUS) do not
support the use of compounds such as Gabapentin
and Baclofen for pain management. However,
compounding pharmacies use these compounds as
well as several others in varying strengths to
attract customers and increase their
revenue. Moreover, an increase in the shortage
of prescription medicine is expected to upsurge
the demand for compounding pharmacies. According
to the U.S. FDA, only 154 drugs were in short
supply or not available in 2007, as compared to
456 in 2012. Currently, the number of drugs in
short supply is around 300. Medicinal drought is
prominent in the U.S. as compared to other
countries, which is also fuelling the revenue
growth of the U.S. compounding pharmacies
market.
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U.S. Compounding Pharmacies Market Analysis
Preview analysis of U.S. Compounding Pharmacies
Market is segmented by (Product Type Solid
Medication, Liquid Medication, Topical
Medication, Injectables, Mouthwashes, Nasal,
Ocular, Otic Suppositories and Enemas Pharmacy
Type 503A Pharmacy 503B Pharmacy Sterility
Sterile Non-Sterile Application Adults,
Pediatrics, Geriatrics Veterinary Therapeutic
Area Hormone Replacement Therapy, Pain
Management, Dermatology, Oncology, Hematology,
Dental Others) Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2018
2028 https//www.futuremarketinsights.com/reports
/us-compounding-pharmacies-market On the other
hand, increasing regulatory pressures are
expected to hamper the growth of the U.S.
compounding pharmacies market. Compounding
pharmacies are engaged in trans-boundary drug
compounding, and the manufacturing of bulk drugs
ingredients need to be registered with the FDA,
undergo mandatory inspections, and abide by GMP
guidelines.
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U.S. Compounding Pharmacies Market Analysis
For instance, the FDA has stated that around 70
of registered firms have been inspected, of which
28 firms have been issued FDA Form 483s
(non-adherence to cGMP regulations and unsafe
compounding practices), and five warning letters,
which implies a very high rate of action.
Compounding pharmacies registering with the FDA
could serve to increase credibility. However,
inspections and compliance with good
manufacturing practices is compulsory. Regulatory
pressures on compounding pharmacies are expected
to force the smaller ones to close their business
primarily due to unsafe compounding practices,
which are likely to directly impact patient
safety. Hormone Replacement Therapeutic Area to
Hold over 38 Revenue Share in Market By product
type, oral medication is the expected to dominate
the U.S. compounding pharmacies market in term of
revenue, which is then followed by topical
medication. The injectable segment by product
type of the U.S. compounding pharmacies market is
projected to grow at a significant rate as
compared to other segments. The hormone
replacement therapy segment is the leading
segment in terms of revenue among all the
therapeutic area segments of the U.S. compounding
pharmacies market, and is estimated to gain a
38.4 revenue share in 2019. Buy this report
_at_ https//www.futuremarketinsights.com/checkout/97
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U.S. Compounding Pharmacies Market Analysis
The U.S. compounding pharmacies market report
tracks some of the key companies operating in the
market, which include Avella Specialty Pharmacy,
Central Admixture Pharmacy Services, Inc., Fagron
N.V., Wedgewood Pharma, PharMEDium Services LLC,
Doughertys Pharmacy, Institutional Pharmacy
Solutions, Lorraines Pharmacy, Village
Compounding Pharmacy, Triangle Compounding
Pharmacy, Olympia Pharmacy, Hoyes Pharmacy,
Vertisis Custom Pharmacy, Smith Caldwell Drug
Store, AIS HealthCare, Soleo Health, Millers
Pharmacy, Centene Corporation, Infinity Care
Solutions, Triumph Pharmacy, and Sixth Avenue
Medical Pharmacy.
Our advisory services are aimed at helping you
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relevant to your specific challenges. Let us know
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