The U.S. compounding pharmacies market is set to witness robust growth through 2030 owing to increasing acceptance of personalized medicines. In addition, easy availability of compounded drugs, along with prevalent drug shortage in the U.S., is also expected to spur market expansion over the forecast timeframe.
Notably, industry players have been adopting profitable strategies to improve their business presence, enhancing overall market dynamics. For instance, in March 2022, Medisca, a supplier of pharmaceutical equipment and ingredients, inked an agreement with SUANFARMA, a European distributor and manufacturer of pharmaceutical ingredients, for the global distribution and supply of Thyroid Powder, USP, for which it leveraged its partnership with Deebio, a pharmaceutical manufacturer.
The U.S. compounding pharmacies market has been bifurcated in terms of application, product, pharmacy type, sterility, compounding type, and therapeutic area. Based on application, the market has been segmented into adult, veterinary, geriatric, and pediatric. Owing to rising adoption rates of compounded medication by veterinary clinics, the veterinary sub-segment is set to depict a CAGR of more than 5.1% between 2022 and 2030.
On the basis of product, the U.S. compounding pharmacies market has been divided into topical, parenteral, nasal, otic, ophthalmic, rectal, and oral. The nasal sub-segment is foreseen to expand at a CAGR of about 5.5% over the forecast timeframe driven by increasing occurrences of ENT disorders that can be treated easily with nasal compounded medications. Additionally, the ease of usage of compounded nasal drops is likely to aid segmental growth.
With respect to pharmacy type, the market has been branched into 503A and 503B. The 503B sub-segment garnered a market share of over 56.5% in 2021 owing to a surge in drug shortages in the U.S., coupled with mounting preference for outsourcing facilities for manufacturing drugs that are in short supply.
By sterility, the U.S. compounding pharmacies market has been fragmented into non-sterile and sterile. In 2021, the non-sterile sub-segment was valued at more than $3.7 billion due to several benefits of non-sterile compounded medications, such as easy availability, self-administration, and personalized route of administration.
With regards to compounding type, the market has been segregated into unavailable pharmaceutical manufacturing (CUPM), pharmaceutical ingredient alteration (PIA), currently pharmaceutical dosage alteration (PDA), and others. The currently unavailable pharmaceutical manufacturing (CUPM) sub-segment held a market share of about 22.8% in 2021 on account of surging incidences of drug shortage across the U.S. In addition, compounded pharmacies play a vital role in curbing drug shortages, which is primed to supplement segmental development.
From the perspective of therapeutic area, the U.S. compounding pharmacies market has been categorized into nutritional supplements, dermatology, hormone replacement, pain management, specialty drugs, and others. In 2021, the specialty drugs sub-segment held around 9.6% market share supported by the ease of formulation of specialty drugs by compounding pharmacies, coupled with rising interest in personalized medicine to predict, diagnose, and treat diseases.