U.S. Compounding Pharmacies Market Size, Share, & Trends Analysis Report By Type (503A, 503B), By Therapeutic Area, By Age Cohort, Compounding Type, By Sterility, And Segment Forecasts, 2024 - 2030

U.S. Compounding Pharmacies Market Size, Share, & Trends Analysis Report By Type (503A, 503B), By Therapeutic Area, By Age Cohort, Compounding Type, By Sterility, And Segment Forecasts, 2024 - 2030

U.S. Compounding Pharmacies Market Growth & Trends

The U.S. compounding pharmacies market size is anticipated to reach USD 7.18 billion by 2030 and is anticipated to grow at a CAGR of 4.89% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is poised for substantial growth, driven by rising awareness and adoption of compounded medications. The growing demand stems from increasing prescription volumes, frequent drug shortages, and manufacturer discontinuations of key medications. These shortages, impaired by supply chain disruptions and manufacturing delays issues that were intensified by the COVID-19 pandemic have increased the critical role of compounding pharmacies.

According to the FDA, drug shortages increased due to manufacturing restrictions, raw material shortages, and logistic delays during the pandemic. As a result, compounding pharmacies gained more opportunities to fill these gaps in drug availability. The FDA even issued temporary guidance allowing federally and state-licensed pharmacies to compound certain medications for hospitalized patients during public health emergencies. This combination of rising demand and regulatory support is expected to drive market expansion.

U.S. Compounding Pharmacies Market Report Highlights

• Based on type, the 503A segment held the largest revenue share in 2023. This is attributed to the rising demand for personalized medications tailored to individual patient needs.
• Based on therapeutic area, the pain management segment dominated the market with the largest market share in 2023 due to its specialized approaches in alleviating the side effects of standard pain management medications.
• Based on age cohort, the adult segment dominated the market with the largest revenue share in 2023 due to factors such as allergies, specific dosage requirements, and preferences for other forms of medication.
• Based on compounding type, the pharmaceutical ingredient alteration (PIA) segment dominated the U.S. compounding pharmacies market in 2023 due to the high demand for customized drugs from patients with special needs.
• Based on sterility, the sterile segment dominated the market with the largest revenue share in 2023 due to the significant demand for intravenous sterile planning required by geriatric and pediatric patients.
• For instance, in February 2023, Harrow Health, Inc., a prominent U.S. eyecare pharmaceutical company, launched its patent-pending, next-generation compounded Atropine formulations, now accessible through its compounding and mail-order pharmacy subsidiary, ImprimisRx.

Please note The report will be delivered in 2-3 business days upon order notification.