United States Compounding Pharmacies Market to Grow at a CAGR of 6% During 2024-2032, Aided by the Increasing Geriatric Population and the Rising Incidences of Chronic Diseases

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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Market Breakup by Type, Compounding Type, Sterility, Therapeutic Area, Distribution Channel, and Application:

• Based on type, the market is divided into oral, topical, and suppositories, among others.

• By compounding type, the market is segmented into pharmaceutical ingredient alteration (PIA), currently unavailable pharmaceutical manufacturing (CUPM), and pharmaceutical dosage alteration (PDA), among others.

• Based on sterility, the market is bifurcated into sterile and non-sterile.

• By therapeutic area, the market is segregated into pain management, and hormone replacement therapy (HRT), among others.

• Based on distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online, among others.

• By application, the market is segmented into pediatric, adult, geriatric, and veterinary, among others.

Key Findings of the Report:

• The compounding pharmacies market is experiencing growth due to the increasing geriatric population and drug shortages.

• Compounding pharmacies offer cost advantages over traditional methods, and also facilitate the production of tailored solutions to meet the specific medication requirements of patients, which drive their adoption.

• The evolution of federal laws and the increasing collaborations among market players to enhance the production process, drive quality, and ensure compliance are shaping the market dynamics.

Key Offerings of the Report:

• The EMR report gives an overview of the United States compounding pharmacies market for the periods (2017-2023) and (2024-2032).

• The report also offers historical (2017-2023) and forecast (2024-2032) market information for the type, compounding type, sterility, therapeutic area, distribution channel, and application of compounding pharmacies.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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.

Key Highlights of the Report

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