Market Challenges And Opportunities

U.S. Ophthalmic Compounding Pharmacies Market: Restraint

The major factors that hinder growth of the U.S. ophthalmic compounding pharmacies market include product recalls and issues related to safety standards of ophthalmic compounded drugs. For instance, in September 2021, U.S. Food and Drug Administration (FDA) recommended Greenpark Compounding Pharmacy, a family owned and operated pharmacy, to expand its recall to all unexpired compounded drugs intended to be sterile and stop sterile production until it implements adequate corrective actions due to lack of sterility and therefore safety assurance

Product recalls
Issues related to safety standards of ophthalmic compounded drugs

Increasing prevalence of eye disorders is expected to drive the market growth during the forecast period.

The increasing prevalence of various eye disorders is expected to drive the market growth during the forecast period. For instance, according to the article published by the National Institute for Occupational Safety and Health (NIOSH) 2020, every day, around 2,000 U.S. workers with job related eye injuries require medical treatment.

U.S. Ophthalmic Compounding Pharmacies Market – Impact of Coronavirus (COVID-19) Pandemic

The coronavirus (COVID-19) pandemic and lockdown in various countries across the globe have impacted the financial status of businesses in all sectors. The private healthcare sector is one of the sectors which is majorly impacted by the COVID-19 pandemic.

The COVID-19 pandemic has negatively impacted the development, production, and supply of medicines and also affected the growth of the pharmaceutical businesses of various companies across the globe, as the COVID-19 pandemic has led to lockdowns in several countries globally. This lockdown has resulted in the closure of industrial establishments except for the manufacturing of essential commodities and disruption in the supply chain of pharmaceuticals and kits for diagnostic and therapeutic use.

However, key players are engaged in launching new products, in order to overcome the drug shortages during the COVID-19 pandemic. In order to meet the demand-supply gap that was hampered during COVID-19, it is expected to drive growth of the U.S. ophthalmic compounding pharmacies market over the forecast period. For instance, in December 2020, during the COVID-19 pandemic, Triangle Compounding Pharmacy, a company offering digital tools to help refill prescriptions, helped in providing pharmaceutical-grade hand sanitizer to front-line workers across the U.S. Triangle Compounding Pharmacy strengthened its already stringent infectious control measures to help slow the spread of COVID-19 and to protect customers and employees. Moreover, the Triangle Compounding Pharmacy asked its customers to have their prescriptions mailed or shipped.