Rise Of Customized Injectable Medications Will Drive Growth Of U.S. Injectable Compounding Pharmacy Market
The U.S. Injectable Compounding Pharmacy Market provides customized medication under different dosage, delivery methods and formulation to meet specific patient needs. Compounded injectable medications help patients who face challenges with manufacturer prepared medications like drug shortages, allergies or inability to swallow pills. Pharmacists have the expertise to carefully prepare such medications under physicians' guidance to improve patient outcomes.
The U.S. Injectable Compounding Pharmacy Market Demand is estimated to be valued at US$ 1747.98 Mn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031.
Compound pharmacies play a vital role in alleviating drug shortages and preparing tailored medications that are unavailable from pharmaceutical companies. Their technicians and pharmacists mix, measure and combine FDA approved ingredients using special equipment under sterile conditions. This allows creation of solutions, suspensions, emulsions and other formulations through total parenteral nutrition, pain management and other therapeutic categories. By developing customized medications, compound pharmacies meet unmet needs of patients intolerant to inactive ingredients, drug delivery vehicles or those seeking alternative dosages, strengths and forms.
Key Takeaways
- Key players operating in the U.S. Injectable Compounding Pharmacy are PerkinElmer, LabLogic Systems Ltd., Hidex Oy, Intertechnique, LabLogic Systems Limited, AMETEK Inc, Beckman Coulter Inc, Berthold Technologies GmbH & Co. KG, Bio-Rad Laboratories Inc.
- The market is driven by rising prevalence of chronic diseases necessitating customized treatments and benefits of compounded injectables over traditional manufactured drugs.
- Technological advancements like closed system transferring ports, automated compounding devices and container closure systems have improved safety and sterility of prepared medications.
The southern region of the United States accounts for the highest market value concentration in the injectable compounding pharmacy market. States such as Texas, Florida and California have experienced significant rise in demand for customized sterile medications over the past few years. This is attributed to factors such as growing geriatric population, increasing prevalence of chronic diseases, expanding healthcare infrastructure and rising adoption of specialized drug therapies in these states. Additionally, concentration of major pharmaceutical companies, medical research institutes and presence of regulatory agencies have augmented the overall injectable compounding drug requirements within the southern regional market. The trend is likely to continue over the coming years with established compounding pharmacies strengthening their presence while new players entering this high potential geographical region.
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