The USA compounding pharmacies market is on track for significant growth, estimated to reach USD 5,156.2 million in 2024, with projections indicating a compound annual growth rate (CAGR) of 7.8% between 2024 and 2034. This growth trajectory is expected to drive the market to a valuation of USD 10,659.3 million by 2034, reflecting the expanding role of compounding pharmacies in personalized healthcare solutions.
The increasing demand for customized pharmaceutical formulations is a key driver of this growth. As healthcare needs evolve, patients and healthcare providers are turning to compounding pharmacies to create medications that are tailored to individual health conditions. This shift toward personalized medicine has become a fundamental contributor to the market’s expansion, offering customized treatments that are not commercially available.
The rising focus on personalized treatments has brought compounding pharmacies to the forefront, as they play a vital role in providing solutions that meet specific patient needs. By formulating medications that address unique health requirements, these pharmacies contribute to improving patient outcomes and expanding access to vital therapies. This trend is fueling further growth in the compounding pharmacy industry, with continued demand for tailored solutions.
Key Takeaways:
- Market Growth: Estimated to reach USD 5,156.2 million in 2024, projected to grow to USD 10,659.3 million by 2034, with a CAGR of 7.8%.
- Personalized Medicine Demand: Increasing need for medications tailored to individual patient requirements is driving market growth.
- Custom Formulations: Compounding pharmacies are crucial in providing non-commercial, personalized medicines for specific health conditions.
- Expansion of Services: As the healthcare landscape shifts, compounding pharmacies are playing an increasingly vital role in meeting the evolving needs of patients and providers.
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2019 to 2023 USA Compounding Pharmacies Sales Outlook Compared to Demand Forecast from 2024 to 2034
The USA compounding pharmacies industry recorded a CAGR of 6.4% between 2019 and 2023. According to the industry, USA compounding pharmacies generated USD 4,897.4 million in 2023, up from USD 3,986.8 million in 2019.
The USA compounding pharmacies market has seen drastic changes and shifts between 2019 and 2023 as a result of an increased demand for personalized medications, more intense regulation, and technological advancement.
One of the most noticeable historical trends is the rising demand for customized medications, with specific emphases in areas such as BHRT-pain management, pediatric, and geriatric care, with patients requiring specific formulations tailored to their health needs.
This transition towards personalized care would not have been possible without advances in technology, particularly in areas such as automated compounding systems, 3D printing, and precision software tools, allowing pharmacies to produce first-rate, individualized treatments more efficiently.
The market at the same time was witnessing an increased scrutiny from the regulators, particularly in sterile compounding involving injectables and intravenous solutions. The focus of the founders on compliance with cGMP in cutthroat competition and mandatory inspections of outsourcing facilities was imperative to attract and establish higher quality standards of compounded medications in accordance with regulative laws so as to make drug safety a priority in sterile drug compounding.
All of this focused action was essential to provide risk mitigation against contamination and drug-related safety issues.
Future trends will take over soon in the compounding pharmacies market. Another fundamental transitional trend is the upgrading of pharmacists’ functions from traditional dispensers to active advisors on healthcare services such as therapy management and patient consultations.
This involvement of pharmacists in patient care reduces the incidence of adverse drug reactions and results in improved patient outcomes.
Another trend is the continuous emphasis on the adherence to regulatory compliance; pharmacies will be required to abide by tough FDA guidelines, which will include obtaining cGMP certification so as to guarantee safety and quality in drugs produced.
These trends combined with increasing patient demand for personalized healthcare solutions suggest that the USA compounding pharmacies market will continue to expand, focusing on both innovation and patient safety.
Market Concentration
Tier 1 includes companies cumulatively hold around 34.7% share of the total market revenue. These companies are the largest players in the USA compounding market, with broad national or regional reach, significant infrastructure, and possibly a large share of both sterile and non-sterile compounding services. The companies that comprises tier I are Fagron N.V., Clinigen Group, Avella Specialty Pharmacy.
Tier 2 includes companies cumulatively hold around 27.5% share of the total market revenue. The companies that comprises tier II are Vertisis Custom Pharmacy, Dougherty’s Pharmacy, Hoye’s Pharmacy and others.
These companies are well-established and may have a strong regional presence or a focus on specialized compounding services, but their market share and reach are smaller compared to Tier 1 players.
Competitive Landscape of the USA Compounding Pharmacies Industry
The competition landscape for compounding pharmacies is becoming increasingly dynamic, with recent partnerships and regulatory approvals highlighting market growth in cannabis-derived compounds and psychedelics.
These developments reflect a broader industry trend toward securing compliance and expanding production capacities to meet rising demand for plant-based, pharmaceutical-grade ingredients.
Recent Industry Developments in the USA Compounding Pharmacies Market
- In 2023, Harrow announced the launch of its patent-pending, future compounded Atropine formulations through ImprimisRx, a wholly owned subsidiary that specializes in both compounding and mail-order pharmacy services.
- In 2022, Nephron Pharmaceuticals Corporation unveiled a new syringe presentation as part of its highly profitable Nephron 503B Outsourcing Facility operation, further leveraging the momentum generated by its rapid expansion.
Key Players of the USA Compounding Pharmacies Industry
- Avella Specialty Pharmacy
- Central Admixture Pharmacy Services Inc
- Hoye’s Pharmacy
- Vertisis Custom Pharmacy
- Smith Caldwell Drug Store
- Sixth Avenue Medical Pharmacy
- Cantrell Drug Company
- Clinigen Group, Dougherty’s Pharmacy
- Fagron N.V.
USA Compounding Pharmacies Market Segmentation
By Product Type:
In terms of product type, the industry is segregated into oral medication [solid medication (capsules, tablets, mixtures, lollipops, and lozenges), liquid medication (syrup, solution/liquid, emulsion, and suspension), topical medication (gels, ointments, creams, and lotions)], injectable, mouthwashes, nasal, ocular, otic, suppositories and enemas.
By Pharmacy Type:
In terms of pharmacy type, the industry is segregated into 503A pharmacy, 503B pharmacy.
By Application:
In terms of application, the industry is segregated into adults, pediatrics, geriatrics and veterinary
By Therapeutic Type:
In terms of therapeutic type, the industry is segregated into hormone replacement therapy, pain management, dermatology, oncology, hematology, dental and others
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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