U.S. 503B Compounding Pharmacies Market, by Molecule (Acetaminophen, Phenylephrine, Midazolam, Esmolol, Vancomycin, Epinephrine, Adenocaine, Fentanyl/ Bupivacaine, Morphine, Amiodarone, Heparin, Ketamine, Dextrose, Hydromorphone, Bupivacaine, Lidocaine, BKK (Bupivacaine, ketorolac, Ketamine), RCK (Ropivacaine, Clonidine, Ketorolac), RKK (Ropivacaine, Ketorolac, Ketamine), Other Molecules), by Packaging Type (Vials, Pre-filled Syringes, Ampoule, Syringes, and Others), is estimated to be valued at US$ 985.6 million in 2022 and expected to exhibit a CAGR of 7.6 % over the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Key players operating in the market are focusing on product launches, and this is expected to drive the market growth over the forecast period.
For instance, in March 2021, Ritedose, a 503B outsourcing facility located in South Carolina, launched a new unit dose syringe product, Succinylcholine chloride injection 200 mg/10 ml.
Moreover, in January 2022, Nephron Pharmaceuticals Corporation announced the launch of a brand new syringe presentation under the Nephron 503B Outsourcing Facility Operations, the Cyclic Olefin Copolymer Syringe (COC) has a glass like appearance, however it’s a break resistant and lightweight. COC syringes are suitable for a variety of medications, including highly viscous drug,
U.S. 503B Compounding Pharmaices Market – Impact of Coronavirus (COVID-19) Pandemic
The coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 a pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 572,239,451 cases of coronavirus disease (COVID-19) were reported till July 29, 2022, across the globe.
During the spread of COVID-19 503B outsourcing facilities were crucial partners to health systems and hospital pharmacies in helping to mitigate drug shortage.
Browse 6 Market Data Tables and 33 Figures spread through 199 Pages and in-depth TOC on “U.S. 503B Compounding Pharmacies Market” - Global Forecast to 2030, by Molecule (Acetaminophen, Phenylephrine, Midazolam, Esmolol, Vancomycin, Epinephrine, Adenocaine, Fentanyl/ Bupivacaine, Morphine, Amiodarone, Heparin, Ketamine, Dextrose, Hydromorphone, Bupivacaine, Lidocaine, BKK (Bupivacaine, ketorolac, Ketamine), RCK (Ropivacaine, Clonidine, Ketorolac), RKK (Ropivacaine, Ketorolac, Ketamine), Other Molecules), by Packaging Type (Vials, Pre-filled Syringes, Ampoule, Syringes, and Others)
To know the latest trends and insights prevalent in the U.S. 503B Compounding Pharmacies Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/us-503b-compounding-pharmacies-market-4481
Key players operating in the market are focusing on the adoption of inorganic growth strategies such as mergers, collaborations, partnerships, and acquisitions, in order to strengthen their position in the global market. For instance, in August 2019, Nephron Pharmaceuticals Corporation announced its partnership with Clemson University, South Carolina, U.S. in order to create a robotic solution for automated syringe-filling, which will help to enhance sterile manufacturing in the pharmaceutical production process and keep up with growing hospital demands
Key Takeaways of the U.S. 503B Compounding Pharmacies Market:
- The U.S. 503B compounding pharmacies market is expected to exhibit a CAGR of 7.6 % over the forecast period, owing to rising launches of products. For instance, in January 2020, Fagron Compounding Pharmacies launched ready-to-use OR syringes for hydromorphone, all the OR Syringes are clearly labelled while adhering to American Society for Testing and Materials (ASTM), Drug Quality and Security Act (DQSA) and Institute for Safe Medication Practices (ISMP) medication and anaesthesia labelling standards.
- Among packaging type, pre-filled syringes segment is expected to account for the largest market share during the forecast period, owing to increasing product launches
- Key players operating in the U.S. 503B compounding pharmacies market include Central Admixture Pharmacy Services, Inc., Nephron Pharmaceuticals Corporation, QuVa Pharma, Olympia Pharmacy, ASP Cares, Fagron Compounding Pharmacies, Athenex, Inc., Avella Specialty Pharmacy, Atlas Pharmaceuticals, Empower Pharmacy, Carie Boyd’S Prescription Shop, Edge Pharma, Imprimis NJOF, LLC, IntegraDose Compounding services, LLC, Wells Pharma of Houston, LLC, US Compounding Inc., and SCA Pharma
