North America to Dominate the Compounding Pharmacy Market

Mon, 13 April 2020 12:53

Market Definition

Compounding is the method of combinations and preparations of personalized medicines. These medicines are prepared based on the prescription of the physician, where the individual ingredients are combined according to the dosage form and strength of the prescribed dose. The certified pharmacists are allowed to personalize the medicine for the patient to satisfy their specific needs, such as strengths, dosage forms, flavors, and exclusion of ingredients for which the patient is allergic or sensitive. Although compounded drugs are not approved by the FDA, meaning that the FDA will not check the safety and effectiveness of such drugs. This responsibility lies with the state pharmacy boards, which verify that the state-licensed pharmacies manufacture compound drugs comply with the FDCA section 503A standards.

A compound medication is formulated to meet the needs of a patient. Compounding from common drugs may be used to create custom strengths or dosages. The combination of different ingredients can produce unique treatments that otherwise are not possible with conventional medications. Pharmacists who treat compound pharmaceutical goods represent a niche market and will attract more patients to meet specific needs.

Got questions about your regional growth of

Compounding Pharmacy Market?

Just drop us a line or call on +1 646 480 7505

Key Takeaways

  • The global compounding pharmacy market is on the rise with a value to the tune of USD 9876.5 million in 2019, firmly backed by several trends such as increasing adoption of personalized medicines and the alarming shortage and recall of drug products from the market.
  • The nutritional supplement segment is expected to gain significant market share favored by growing demand for compounded nutritional supplements from rising geriatrics population suffering from obesity and other lifestyle-related disorders.
  • North America is estimated to hold a decent share in the global compounding pharmacy market with its significant market contribution coming from the U.S., led by its growing adoption in compounded hormonal therapies by women suffering from menopause-related disorders and with supportive government regulations such as 503A and 503B.
  • Prominent market players operating in the compounding pharmacy market are Fresenius Kabi, Fagron, Wedgewood Pharmacy, Lorraine’s Pharmacy, Cantrell Drug Company, Triangle Compounding Pharmacy, Village Compounding Pharmacy, Olympia Pharmacy, and others.
  • Fagron strengthened its strategic position in the U.S. market by acquiring Humco in April 2018, a developer of patented vehicles used in compounding pharmacies, and by acquiring JCB laboratories in 2015, one of the high-quality sterile compounding pharmacy in the U.S.

Compounding Pharmacy Market Segmentation

By Dosage forms

  • Solid oral preparations
  • Liquid preparations
  • Topical
  • Ophthalmic
  • Nasal
  • Others

By Therapeutic area

  • Hormone Replacement
  • Pain Management
  • Dermatology applications
  • Specialty drugs
  • Nutritional supplements
  • Others

By Compounding type

  • Pharmaceutical ingredient alteration (PIA),
  • Pharmaceutical application alteration (PAA),
  • Currently unavailable pharmaceutical manufacturing (CUPM)
  • Pharmaceutical dosage alteration (PDA)
  • Specialized animal pharmaceutical manufacturing (SAPM)

By End-Users

  • Adult
  • Pediatric
  • Geriatric
  • Veterinary

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

View Full Report Buy This Report Now