U.S. Injectable Compounding Pharmacy Market

Injectable Compounding Pharmacy Market in United States Expected to be Flourished by Increasing Disease Prevalence

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Injectable compounding pharmacies engage in preparing customized injectable medications by combining or modifying ingredients according to physicians’ prescriptions. Some common specialized injectable medications prepared include pain medications, hormone replacement therapies, allergenic extracts for immunotherapy, and pediatric medications. Increasing prevalence of chronic diseases is a major factor driving demand for such customized injectable medications, which conventional manufacturers are not able to address effectively. For instance, compounding pharmacies prepare specialized sterile formulations for cancer patients to reduce undesirable side effects of chemotherapies.

The U.S. injectable compounding pharmacy market is estimated to be valued at US$ 1747.98 Mn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

Increasing Disease Prevalence: Rising disease burden of chronic conditions such as cancer, Parkinson’s disease etc has increased demand for specialized and customized injectable formulations which injectable compounding pharmacies effectively provide. Increasing demand for pain management medications is also propelling the market growth. For instance, according to Global Burden of Disease Study, disabling hip and knee pain affects over 250 million people worldwide.

Customized Injectable Medications: Injectable compounding pharmacies modify commercially available injectable drugs to meet individual patient needs by changing dosages, removing allergens and designing medications for pediatric patients or patients who cannot swallow tablets or capsules. This ability to prepare customized formulations as indicated by physicians is driving their increased adoption over traditional drug manufacturers.

Segment Analysis

The U.S. Injectable Compounding Pharmacy Market is dominated by 503B Outsourcing facilities segment which holds around 60% market share. This is because 503B Outsourcing facilities offer benefits such as reduced costs, improved quality of compounded medications, and reliable availability of medications to pharmacies.

PEST Analysis

Political: There are stringent regulations regarding quality control and sterility of compounded drugs in the U.S. This drives the outsourcing of injectable compounding to 503B facilities.

Economic: Rising healthcare costs in the U.S. is pushing facilities and hospitals to reduce medication costs through outsourcing injectable compounding to 503B facilities which offer economies of scale.

Social: Increasing prevalence of chronic diseases in the U.S. is leading to rise in demand for compounded medications including injectables thus driving market growth.

Technological: Advancements in aseptic compounding technologies allow 503B facilities to ensure sterility and quality of injectable compounds on a large scale.

Key Takeaways

The U.S. Injectable Compounding Pharmacy Market Size is expected to witness high growth during the forecast period of 2024 to 2031. The U.S. injectable compounding pharmacy market is estimated to be valued at US$ 1747.98 Mn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031.

Regional analysis indicates that the Western region dominates currently due to high concentration of 503B facilities in states like California.

Some of the key players operating in the U.S. Injectable Compounding Pharmacy Market are PerkinElmer, LabLogic Systems Ltd., Hidex Oy, Intertechnique, LabLogic Systems Limited, AMETEK Inc, Beckman Coulter Inc, Berthold Technologies GmbH & Co. KG, Bio-Rad Laboratories Inc., and Hach.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it
Ravina
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Ravina Pandya,  Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.