U.S. Injectable Compounding Pharmacy Market
For instance, according to the Journal of American Pharmacist Association: August 17, 2020, 'Pharmacy compounding describes the act of combining, mixing, or altering of the ingredients of a drug to create a new medication according to the needs of an individual patient'. Compounding of a product is done due to a patient allergy to an ingredient in the commercially available products or the need for a different concentration, route of administration, or dosage form of compounded product. For instance, according to the U.S. Food and Drug Administration (U.S. FDA), 2020, due to COVID-19 pandemic hospitals are facing shortage of drugs such as pain management drugs. Thus, the increasing number of chronic diseases such as arthritis is expected to drive demand for pain management medicines, which is expected to boost the U.S. 503B compounding pharmacies market growth over the forecast period. For instance, according to the Centers for Disease Control and Prevention (CDC)’s May 2019 report, an estimated 54.4 million U.S. adults are diagnosed with arthritis, which accounted for around one in four people in the U.S.
Market Dynamics
The increasing drug shortages in the U.S., increasing geriatric population and improved longevity due to customized medicines, rising adoption of inorganic growth strategies by key players operating in the market and increasing novel product approvals and launches are the major factors that are expected to drive the growth of U.S. injectable compounding pharmacy market during the forecast period.
For instance, in May 2020, Central Admixture Pharmacy Services, Inc. launched three new compounded sterile preparations, which are in short supply for the ICU patients. The products are two vasodilators: Norepinephrine 8 mg added to 250 mL normal saline (NS), Vasopressin 50 units added to 50 mL NS, and a sedative: Midazolam 125 mg added to NS (1mg/mL).
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 9 market data tables and 37 figures on “U.S. Injectable Compounding Pharmacy Market” - Global forecast to 2030
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