U.S. Compounding Pharmacies Market, By Therapeutic Area (Hormone Replacement Therapy, Pain Management, Specialty Drugs, Nutritional Supplements, and Others), By Route of Administration (Oral, Parenteral, and Others), By Application (Humans and Veterinary)

Published In : May 2024

Code : CMI3142

Pages :157

Formats :

Excel and PDF

Industry : Pharmaceutical

U.S. Compounding Pharmacies Market Size and Trends

The U.S. compounding pharmacies market is estimated to be valued at USD 5,290.4 Mn in 2024 and is expected to reach USD 7,995.8 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031.

U.S. Compounding Pharmacies Market Key Factors

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The compounding pharmacies market is expected to witness positive growth over the forecast period. Factors, such as increasing demand for personalized medicines, growth in chronic diseases, and rise in geriatric population, are expected to drive the market growth during this period. With a rise in demand for compounded drugs, especially medications requiring a specific dose, delivery method, or ingredient combination, market players are expected to gain opportunities. However, lack of regulations regarding compounding pharmacies and drug recalls pose challenges to market players. Overall, increasing need for personalized care is expected to boost the U.S. compounding pharmacies market between 2024 and 2031.

Increasing Demand for Hormone Replacement Therapy

Increasing demand for hormone replacement therapy (HRT) is expected to boost the growth of the U.S. compounding pharmacies market over the forecast period. For instance, according to data published on September 2021, in the National Library of Medicine, in the U.S., in 2018, about four out of 10 women aged 70-79 years reported having had a hysterectomy.

U.S. Compounding Pharmacies Market Concentration By Players

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Increasing Inorganic Growth Strategies

Increasing adoption of inorganic growth strategies, such as acquisitions, is expected to drive the market growth over the forecast period. For instance, on April 10, 2024, Myonex, a global clinical trial supply company, announced that it had acquired Saveway Compounding Pharmacy, a compounding pharmacy in Delaware, U.S. The acquisition helped Myonex to better supply patients in clinical trials with medication and equipment as needed. It will also help the company expand its clinical trial designs and include direct-to-patient and home healthcare provider capabilities.