U.S. Injectable Compounding Pharmacy Market, By Molecule (Acetaminophen, Phenylephrine, Midazolam, Esmolol, Vancomycin, Epinephrine, Adenocaine, Fentanyl/Bupivacaine, Morphine, Amiodarone, Fentanyl, Heparin, Ketamine, Dextrose, Hydromorphone, Bupivacaine, Lidocaine, BKK (Bupivacaine, Ketorolac, Ketamine), RCK (Ropivacaine, Clonidine, Ketorolac), RKK (Ropivacaine, Ketorolac, Ketamine), Norepinephrine, Diltiazem, Vasopressin, and Others), By Packaging Type (Vials, Ampoules, Prefilled Syringes, and Others), and By Pharmacy Type (503A Pharmacies and 503B Pharmacies) is estimated to be valued at US$ 1,516.3 Mn in 2023 and is expected to exhibit a CAGR of 7.3% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing launches of compounded drugs by compounding pharmacies are expected to drive the growth of the U.S. injectable compounding pharmacy market. For instance, in February 2023, Harrow, an eye care pharmaceutical company, announced the launch of its next-generation compounded atropine formulations. The compounded formulations have a physiologic pH of 5.5, no preservatives or boric acid which can be kept at room temperature for up to 180 days.
U.S. Injectable Compounding Pharmacy Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdowns in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a positive impact on the U.S. injectable compounding pharmacy market by highlighting its crucial role in healthcare. The increased demand for critical medications during the pandemic underscored the importance of these pharmacies in ensuring a stable supply. The rapid response to evolving patient needs, regulatory flexibility, and the integration of telehealth services demonstrated the adaptability and resilience of compounding pharmacies. Their ability to meet patient-specific requirements and provide crucial medications during times of crisis solidified their importance in the healthcare ecosystem and thus driving greater recognition and reliance on their services. Hence, U.S. injectable compounding pharmacies were awarded significant investments by government authorities as well as private firms during the COVID-19 pandemic. For instance, in December 2021, Pouschine Cook Capital Management, LLC, a private equity firm, announced its investment in Curexa Pharmacy, an active pharmaceutical ingredient (API)-connected 503A compounding pharmacy.
U.S. Injectable Compounding Pharmacy Market: Key Developments
In September 2023, Eli Lilly and Company, a U.S.-based pharmaceutical company, sued 10 U.S. medical spas, wellness centers and compounding pharmacies for selling products, claiming to contain tirzepatide.
In May 2023, Fagron Academy, a U.S.-based pharmacopeia, partnered with Gates Healthcare, a healthcare consulting firm specializing in the pharmaceutical industry, to expand support to compounding pharmacies.
Browse 9 Market Data Tables and 37 Figures spread through 100 Pages and in-depth TOC on “U.S. Injectable Compounding Pharmacy Market”- Forecast to 2030, U.S. Injectable Compounding Pharmacy Market, By Molecule (Acetaminophen, Phenylephrine, Midazolam, Esmolol, Vancomycin, Epinephrine, Adenocaine, Fentanyl/Bupivacaine, Morphine, Amiodarone, Fentanyl, Heparin, Ketamine, Dextrose, Hydromorphone, Bupivacaine, Lidocaine, BKK (Bupivacaine, Ketorolac, Ketamine), RCK (Ropivacaine, Clonidine, Ketorolac), RKK (Ropivacaine, Ketorolac, Ketamine), Norepinephrine, Diltiazem, Vasopressin, and Others), By Packaging Type (Vials, Ampoules, Prefilled Syringes, and Others), and By Pharmacy Type (503A Pharmacies and 503B Pharmacies)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/us-injectable-compounding-pharmacy-market-4478
Key Takeaways of the U.S. Injectable Compounding Pharmacy Market:
- The U.S. injectable compounding pharmacy market is expected to exhibit a CAGR of 7.3% during the forecast period due to the increasing adoption of inorganic growth strategies like acquisition by key market players. For instance, in July 2023, Revelation Pharma, a national network of 503a and 503b compounding pharmacies, acquired Eagle Pharmacy, a U.S.-based 503B outsourcing compounding pharmacy.
- Major players operating in the U.S. injectable compounding pharmacy 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., SCA Pharma, Leiters Health, Medivant Healthcare and Vertisis Custom Pharmacy
