Over the forecast period, rising availability of compounded preparations is anticipated to fuel market expansion. For instance, Central Admixture Pharmaceutical Services, Inc. introduced three novel compounded sterile preparations in May 2020; the goods are two vasodilators that are in low supply for ICU patients. Vasopressin 50 units were added to 50 ml of normal saline (NS), 8 mg of norepinephrine were added to 250 ml of NS, and 1 mg/ml of the sedative midazolam were added to the NS. During the course of the forecast year, market participants are anticipated to expand their facilities more frequently. For instance, Quva Pharma, a U.S. FDA registered manufacturer of compounded medications, announced in September 2019 that it had finished the facility expansion of the cGMP compliant 503B, the U.S. FDA registered manufacturing facility at Bloomsbury, New Jersey, U.S. This increased the facility by 160,000 square feet. Empower Pharmacy will be able to prepare thousands of unique prescriptions every day for the nation's millions of patients thanks to this facility.
According to the Coherent Market Insights, According to estimates, the U.S. 503B Compounding Pharmacies Market will be worth US$ 985.6 million in 2022 and is projected to grow at a 7.6% CAGR over the forecast period (2022-2030)
Key Companies in the U.S. 503B Compounding Pharmacies Industry:
1. Central Admixture Pharmacy Services, Inc.,
The business was established in 1991 and is based in Pennsylvania, United States. The Company's pharmacies fill and distribute IV medications that are branded, patient-specific, and ready when needed to our expanding network of outsourcing pharmacy providers. CAPS® Extended Product Range to Address Medicines Shortage in the US in May 2020: Introduces Three Novel Devices to Treat Critically Ill Ventilated Patients
2. Nephron Pharmaceuticals Corporation,
The business was established in 1937 and is located in Florida, New York. The business produces racepinephrine, albuterol sulphate, ipratropium bromide, and sodium chloride products in addition to generic respiratory medications. Nephron Pharmaceuticals inaugurated a new nitrile centre in Lexington County in Dec. 2022. Under the wildly successful Nephron 503B Outsourcing Facility operation, the company announced the introduction of a brand-new syringe presentation in January 2022.
3. Olympia Pharmacy,
The company was established in 2009 and has its main office in Florida, United States. The business focuses in veterinary drugs, men's and women's health products, anti-aging products, weight reduction products, and bio-identical hormone replacement therapy.
4. Athenex, Inc.,
The business was established in 2003 and is located in New York, United States. Athenex is a multinational speciality oncology pharmaceutical firm with a particular interest in the creation and marketing of cutting-edge treatments for cancer and complementary therapies. Athenex announced the MHRA's decision regarding oral paclitaxel in January 2023. Athenex announced in November 2022 that it had received a favourable Nasdaq listing determination.
5. Avella Specialty Pharmacy,
The business was founded in 1996 and is Located in Phoenix, Arizona. The company's primary areas of interest are compounding, oncology, ophthalmology, fertility, women's health, infectious diseases, animal health, pain management, and transplant medicine. Additionally, Avella provides nationwide mail order services and helps both patients and medical professionals across the country.
6. Atlas Pharmaceuticals,
The company was established in 2017 and is based in Arizona, United States. The Firm focuses on the regulation of pharmaceutical, complementary medicine, and cosmetic products. Atlas Pharma focuses on developing better analytical techniques while also providing final product and raw material analysis.
7. US Compounding Inc.,
The business was founded in 2004 and is located in Arkansas, United States. Pharmaceutical services are provided by US Compounding, Inc. The company offers services for custom-made pharmaceuticals. Serving patients, doctors, veterinarians, and healthcare professionals is the goal of US Compounding.
*Definition: Drug compounding is the process of combining, blending, or changing substances to produce a drug specific to the requirements of a particular patient. Compounding involves combining two or more medications, and the FDA has not approved compounded medications.
