U.S. Compounding Pharmacies Market Size, Growth, Report By2032

The U.S. compounding pharmacies market size surpassed USD 5.78 billion in 2023 and it is projected to hit around USD 9.75 billion by 2032 with a registered CAGR of 6% from 2023 to 2032.

Key Points:

By Product, the oral medications segment dominated the market with the largest market share of 36.41% in 2022.
By Pharmacy Type, 503A segment accounted for more than 73.2% of revenue share in 2022.
By Sterility, the non-sterile segment dominated the market with the highest revenue of 5.9% in 2022.
By Application, the adult segment is expected to significantly boost during the anticipated timeframe.

Approximately Over 50% of the US Compounding Pharmacies Market Captured by Oral Medications Segment

The oral medications dominated the market owing to the huge availability of various medicines that are meant to be orally administered. The oral administration of medicines is the most common and the easiest way of administering drugs since centuries. The oral medications are easily available in different formats like granules, powder, tablets, and capsules that offers convenience to the consumers in consuming and storage.

The surging prevalence of chronic ailments among the US population and the growing demand for the personalized and customized medications is expected to further fuel the growth of the oral medications segment.

The parenteral medications is expected to grow at the highest CAGR during the forecast period. The rapidly rising geriatric population and increasing demand for the ophthalmic drugs among the elderly people in US is expected to drive the market growth during the forecast period. The availability of ophthalmic drugs in various formats, increasing product affordability, and rising acceptance among the consumers is driving the growth of the parenteral segment in the US compounding pharmacies market.

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What are the key trends in the US Compounding Pharmacies Market?

The rising investments in the research and development and the increased efforts of the market players to innovate their products is expected to boost the growth of the compounding pharmacies market in US. The development of oral liquids, gummy treats, topical gels, and effervescent drinks for the children or pediatric population is driving the demand for the compounding pharmacies significantly. Moreover, the increasing popularity of the pain management therapies in US is bolstering the growth of the US compounding pharmacies market. Most of the compounded pain management drugs are not approved by the US FDA. However, the State Pharmacy Board controls and supervises on this. Furthermore, the demand for the hormone replacement therapy drugs is growing significantly with the surging prevalence of breast cancer among the women population in US. The growing geriatric population and increased penetration of the social media platforms in US is significantly boosting the adoption of the hormone replacement therapy drugs.

Table of Contents

Report Scope of the U.S. Compounding Pharmacies Market

Report Coverage	Details
Market Size in 2023	USD 5.78 Billion
Market Size by 2032	USD 9.75 Billion
Growth Rate from 2023 to 2032	CAGR of 6%
Non-sterile Segment Market Share in 2022	72.68%
Oral Medications Segment Market Share in 2022	36.41%
Base Year	2022
Forecast Period	2023 to 2032
Segments Covered	Pharmacy Type, Product, Sterility, Application, Compounding Type, Therapeutic Area

What are the key challenges in the US Compounding Pharmacies Market?

As there is a lack of standard regulatory norms regarding the compounded drugs in US, safety is a major issue faced by the market players. The Food and Drug Administration does not regulate the compounded drugs and hence there is a lack of proper standardization. The lack of consumer confidence due to it may hamper or restrict the growth of the US compounding pharmacies market in the upcoming future. Moreover, the changing regulatory specifications are another major challenge faced by the market players operating in the US compounding pharmacies market.

Top US Compounding Pharmacies Manufacturers in 2020

Triangle compounding pharmacy, Fagron, B. Braun melsungen ag, Fresenius kabi ag, Pencol Compounding Pharmacy, US Compounding Inc., Avella specialty pharmacy, Institutional pharmacy solutions, llc, Pharmedium services llc, and Vertisis custom pharmacy are the most prominent players in the US compounding pharmacies market.