U.S. Compounding Pharmacies Market Growth Accelerated By Increased Demand For Customized Medications

The U.S. compounding pharmacies market offers customized medication services as per the unique medical needs of patients. Compounded medications are prepared by licensed pharmacists to fit the exact medical needs of an individual when an FDA-approved prescription drug may not be suitable. The U.S. compounding pharmacies market caters healthcare requirements of patients with allergies, sensitivities and other complex medical conditions through personalized medications.

The global U.S. Compounding Pharmacies Market is estimated to be valued at US$4.2 billion in  2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increased demand for customized medications among patients with complex medical conditions is one of the major trends propelling the growth of the U.S. compounding pharmacies market. As per estimates, around 50 million Americans have conditions that may require customized medications prepared by compounding pharmacists. The rising aging population who are more susceptible to multiple health issues also requires specialized drugs prepared as per their individual needs. Moreover, compounded medications help address the unmet medical needs of several patients who otherwise do not benefit from standard FDA-approved drugs. This growing need for personalized healthcare is expected to drive the demand for compounded drugs in the U.S., thereby driving the growth of compounding pharmacies over the forecast period.

Segment Analysis
The U.S. Compounding Pharmacies Market Growth is dominated by the pain management segment. Pain management accounts for over 30% of the market owing to the increasing use of compounded medications for pain relief. Compounded drugs are preferred for pain management as they can be customized as per the specific needs of the patient and do not cause undesirable side effects.


Regional analysis:
The Western region dominates the U.S. compounding pharmacies market. States like California, Texas and Florida have the highest number of compounding pharmacies in the country. This is attributed to the rising geriatric population and high demand for customized medications in these states. States in the Midwestern and Southern regions are also capturing market share steadily.

Key players:
Key players operating in the U.S. compounding pharmacies market are PharMEDium, Institutional Pharmacy Solutions, Cantrell Drug Company, Fresenius Kabi AG. These players are focusing on expanding their product portfolios and service offerings through strategic partnerships to strengthen their market position.

Regional analysis:
The Mid-Atlantic region is emerging as the fastest growing market for compounding pharmacies. States like New York, Pennsylvania and New Jersey are witnessing a spike in demand for compounded medications driven by growing acceptance of personalized healthcare. Compounding pharmacies in these states are catering to a diverse range of therapy areas including oncology, dermatology and veterinary medicines.

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