Press release
U.S. Compounding Pharmacies Market By Industry Players B. Braun, Fagron, Athenex Pharma Solutions
Large number of patients increasingly preferring prescription drugs may augment the U.S. compounding market growth. Compounded bioidentical menopausal hormone drugs are gaining grip among women in the U.S. These drugs provide benefits such as creating dosages of medicines that are not available commercially, offering a single dose combination of multiple drugs. According to a report published by Global Market Insights, the U.S. compounding pharmacies market size is expected to exceed USD 7.2 billion by 2027. However, changing regulations and rules stated by the government related to safety measures of compounded drugs may hamper the industry expansion to certain extent. The COVID-19 pandemic has also impacted compounded pharmacies in the U.S. According to the U.S. FDA, medicines compounded by outsourcing facilities and supply of FDA-approved medicines may not be enough to fully address the need for drugs used to treat hospitalized COVID-19 patients.
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Nonetheless, shortage of emergency drugs and other cancer medications may result in driving the demand for drugs from these pharmacies. Shortage in drugs is mainly attributed to issues in manufacturing and quality. Delay in receiving the raw material and other components from suppliers, discontinuation of previously manufactured drugs, and product delay caused from the end of manufacturers leads to a shortage of certain drugs. Restricted capacity of raw material suppliers’ facilities coupled with complexity of the manufacturing process could also result in an increase in drug shortage.
The U.S. compounding pharmacies market is bifurcated into 503A and 503B based on pharmacy type. The 503B pharmacy type segment is expected to witness over 8% CAGR in the estimated timeframe (2021 -2027). Production of compounded medications can lead to lower cost of medicines, enhancing the demand for 503B pharmacies. These compounding drugs offer multiple solutions that are safe and effective to help customers at various healthcare facilities. Thus, the benefits associated with 503B pharmacies could further augment the market scenario.
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The U.S. compounding pharmacies, based on application, is divided into pediatric, veterinary, adult, and geriatric. The veterinary segment is expected to hold more than 4.5% CAGR over the analysis period. Compounding pharmacies provide special treatments to animals in case of absence of government-approved medications. Commercially available medications in dosage forms are legalized for use in some species but are not favored for use in other species including cats and other exotic animals. In certain cases however compounding pharmacies offer precisely formulated drugs for animal species, creating new growth prospects for compounded pharmacies.
Partial Chapter of the Table of Content
Chapter 4 US Compounding Pharmacies Market, By Pharmacy Type
4.1 Key segment trends
4.2 503A
4.2.1 503A market, by country, 2016 - 2027, (USD Million)
4.3 503B
4.3.1 503B market, by country, 2016 - 2027, (USD Million)
Chapter 5 US Compounding Pharmacies Market, By Sterility
5.1 Key segment trends
5.2 Sterile
5.2.1 Sterile market, by country, 2016 - 2027, (USD Million)
5.3 Non-sterile
5.3.1 Non-sterile market, by country, 2016 - 2027, (USD Million)
Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/us-compounding-pharmacies-market
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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