Press Release
Press Release
The United States compounding pharmacies market is experiencing significant growth driven by the expanding geriatric population and increasing life expectancy of the population, and the rising demand for alternative medications. Compounding pharmacies offer cost-effective and customised medication solutions to meet the specific needs of patients. According to the Population Reference Bureau, seniors will make up approximately 24% of the total US population by 2060. As of 2020, there were about 33.1 million individuals in the age group of 65 to 75 years, which were only 21.7 million in 2010. The effectiveness of these drugs in certain areas like pain management, among others, adds to its demand.
Fig: Population Size of Old Age Group: 2010 and 2020
The American College of Apothecaries and the Professional Compounding Centers of America are some of the organisations that offer certification programmes and some basic training in compounding. Nearly 7,500 out of 56,000 community-based pharmacies in the US specialise in offering compounding services, as estimated by the American Pharmacists Association, in terms of specialisation. The development of federal and state-level regulatory framework in order to minimize risks associated with the utilisation of compounded preparations is expected to aid the market in the coming years.
Further, rising collaboration in the form of partnerships is impacting the market dynamics of compounding pharmacies. For instance, in March 2024, CleanroomsUSA partnered with ViTalent to offer an end-to-end solution tailored specifically for 503A and 503B compounding pharmacies to streamline operations and ensure compliance in a regulated environment.
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The major players in the United States compounding pharmacies market are Fagron N.V., PharMedium Services, LLC, and Fresenius Kabi Canada, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Compounding Type |
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Breakup by Sterility |
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Breakup by Therapeutic Area |
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Breakup by Distribution Channel |
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Breakup by Application |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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