Throughout the forecast period, rising demand for hormone replacement treatment (HRT) is likely to drive expansion in the U.S. compounding pharmacy market. The growing medicine scarcity in the United States is likely to drive growth in the compounding pharmacies market over the forecast period. PharMEDium Services, LLC, a pharmaceutical manufacturing company, notified in July 2019 the recall of 45 lots of 0.5 mg/mL HYDROmorphone HCl in 0.9% Sodium Chloride 1 mL in 3 mL BD Syringe to the user level. The recall was caused by the presence of sulfite in PharMEDium's sulfite-free computerised client ordering system. The key issues impeding the growth of the US compounding pharmacies market are increased product warnings in sterile compounding, which has resulted in lower sales of compounded injectable medications, which is also projected to stymie industry expansion.
According to Coherent Market Insights, U.S. Compounding Pharmacies Market is estimated to be valued at US$ 4,789.6 million in 2022 and is expected to exhibit a CAGR of 5.9 % during the forecast period (2022-2030).
Prominent Companies in the U.S. Compounding Pharmacies Industry
1. Avella Specialty Pharmacy Ltd
Avella Specialty Pharmacy is a pharmaceuticals company that offers hepatitis and oncology, medications and support. The company was founded in 1996, headquartered in Arizona. The company is acquired by United Health Group.
2. PharMEDium Services
PharMEDium Healthcare is focused on customized pharmacy sterile compounding for hospital intravenous and epidural therapies. It provides compounding services for Calcium Chloride, Esmolol, Fentanyl, Methadone, and more. PharMEDium Healthcare was acquired by AmerisourceBergen Corporation in October 2015. PharMEDium Healthcare was founded in 2003 and is based in Lake Forest, Illinois. In July 2019, PharMEDium Services, LLC announced to recall 45 lots of 0.5 mg/mL HYDROmorphone HCl in 0.9% Sodium Chloride 1 mL in 3 mL BD Syringe to the user level. The recall was due to presence of sulfite in PharMEDium’s electronic customer ordering system that claimed to be sulfite-free.
3. Institutional Pharmacy Solutions
Institutional Pharmacy Solutions is a pharmaceutical company that offers medications and compounding pharmacy services. The company was founded 2003, headquartered in Albama.
4. Cantrell Drug Company
Cantrell Drug Company provides sterile and non-sterile pharmaceutical products to patients, physicians, hospitals, and clinics. The company was founded in 1952, headquartered in Arkansas.
Triangle Compounding Pharmacies,Hoye’s Pharmacy,Vertisis Custom Pharmacy,Smith Caldwell Drug Store,Nephron Pharmaceuticals Corporation,Rx3 Compounding Pharmacy,
5. B. Braun Melsungen AG
The company was founded in 1838, headquartered in Germany. It is Manufacturer of healthcare supplies dedicated to protecting and improving people's health. The company offers products and product systems for anesthesia, intensive care, cardiology, extracorporeal blood treatment and surgeries, thereby enabling healthcare professionals and patients to make the right decisions in specific health-related conditions.
6. Clinigen Group PLC
Clinigen is a rapidly-growing specialty pharmaceutical and services company. Through three businesses, Clinigen SP, Clinigen GAP, and Clinigen CTS, we acquire, license and revitalise niche, hospital-only critical care medicines, and source and supply our own and other pharmaceutical companies’ products. The company was founded in 2010, headquartered in St. Helens. In Nov 29, 2022 Clinigen Group acquired Drug Safety Navigator
7. QuVa Pharma
QuVa Pharma is a quality-compliant manufacturer of compounded and ready-to-administer sterile injectable products. The company was founded in 2015, headquartered in Texas.
8. ITC Compounding Pharmacy
ITC Compounding Pharmacy was established in 1994. Their mission is to provide their customers with the highest quality compounded medications. The company is headquartered in Colorado.
*Defintion- When an FDA-approved drug is not medically essential to treat a patient, doctors at hospitals, clinics, and other healthcare institutions may supply patients with compounded pharmaceuticals.
