Press release
U.S. Compounding Pharmacies Market to See a Promising CAGR of 5.7% by 2021
Future Market Insights (FMI), in its latest report titled "Compounding Pharmacies Market: U.S. Industry Assessment and Forecast; 2015–2021", has projected the U.S. compounding pharmacies market to expand at a CAGR of 5.7% during the forecast period (2015–2021).
Compounding pharmacies are pharmacies that produce drugs tailored to needs of individual patients, by altering, combining, or mixing active pharmaceutical ingredients of drugs. Compounded drugs are prepared under prescription from physicians. Compounding includes combination of two or more drug ingredients in varied proportions. Most regulatory agencies across the world do not approve compounded medications, and do not verify the safety or effectiveness of compounded drugs. These drugs are usually not reimbursed by pharmaceutical benefit agencies.
Request to View Sample of Research Report @ https://www.futuremarketinsights.com/reports/sample/rep-us-978
Compounding pharmacies in the U.S. are estimated to account for market value of US$ 3,262.6 Mn by the end of 2015, and is projected to witness stable growth due to rising demand for personalized medicines from customers.
The report analyses the U.S compounding pharmacies market in terms of market value (US$ Mn) by product, application and therapeutic area, and provides information regarding market dynamics, value chain, competitive landscape, current trends, market estimations and forecast.
The prime driver for the compounding pharmacies market is medicinal drought. Currently, there's a shortage of over 300 drugs for various diseases in the U.S. When the need for critical drugs are not met through commercially-available branded equivalents, compounded drugs are sought after. Furthermore, increasing demand for anti-aging products that use custom compounded drugs is a prevalent trend across the globe. Innovative sub-therapeutic areas such as bio-identical hormone replacement therapy are also contributing to growing popularity of compounded drugs.
On the basis of product type, the U.S. compounding pharmacies market is segmented into oral medication, topical medication, mouth washes, and suppositories.
Oral medications, constituting drugs that can be swallowed, are expected to exhibit stable growth rates ranging from 4.7% to 8.4% over 2015–2021.
Topical medications constitutes skin-application medications. Expected drivers for topical medication include rising popularity of innovative and promising personalized skin creams. Creams are most popular due to ease of preparation and also longer shelf-life. Ease of product composition even after combining two or three APIs customizes the drug and reduces manufacturing cost. Hence, price range varies significantly, i.e., from US$ 100 to 9,000 and above. Creams are mainly used for minimizing scars, skin irritations and other dermatological concerns and reducing pain at location, where oral dosages are not possible.
Mouthwashes and suppositories are expected to witness slightly lower growth rates owing to formulation rigidity emerging from regulatory restrictions. Popularity of non-sterile products is projected to increase due to increased product safety regulations imposed by the U.S. FDA.
On the basis of application, the U.S. compounding pharmacies market is segmented into medications for adults, veterinary, children, and geriatric population. Among the different application areas, medication for adults is expected to register highest attractiveness index as compared to other application areas during the forecast period. Medication for adults constitute drugs for critical illnesses such as cardiovascular diseases and cancer. Medications for adults are expected to increase owing to more people adopting compounded drugs, as these can be customized as per needs of individual patients.
On the basis of therapeutic area, the U.S. compounding pharmacies market is segmented into pain management and hormone replacement therapy (HRT). Among the two therapeutic area segments, HRT is expected to register highest CAGR as compared to pain management during the forecast period. HRT is expected to gain popularity owing to increasing awareness across the world due to its various benefits associated with age-defying therapies and products to bettering individual health.
Request Report for Table of Contents @ https://www.futuremarketinsights.com/askus/rep-us-978
Key market participants covered in the report include PharMEDium Services, LLC, Institutional Pharmacy Solutions, Cantrell Drug Company, and Triangle Compounding Pharmacies
About Us
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
Contact Us
U.S. Office
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Web: https://www.futuremarketinsights.com/
Compounding pharmacies are pharmacies that produce drugs tailored to needs of individual patients, by altering, combining, or mixing active pharmaceutical ingredients of drugs. Compounded drugs are prepared under prescription from physicians. Compounding includes combination of two or more drug ingredients in varied proportions. Most regulatory agencies across the world do not approve compounded medications, and do not verify the safety or effectiveness of compounded drugs. These drugs are usually not reimbursed by pharmaceutical benefit agencies.
Request to View Sample of Research Report @ https://www.futuremarketinsights.com/reports/sample/rep-us-978
Compounding pharmacies in the U.S. are estimated to account for market value of US$ 3,262.6 Mn by the end of 2015, and is projected to witness stable growth due to rising demand for personalized medicines from customers.
The report analyses the U.S compounding pharmacies market in terms of market value (US$ Mn) by product, application and therapeutic area, and provides information regarding market dynamics, value chain, competitive landscape, current trends, market estimations and forecast.
The prime driver for the compounding pharmacies market is medicinal drought. Currently, there's a shortage of over 300 drugs for various diseases in the U.S. When the need for critical drugs are not met through commercially-available branded equivalents, compounded drugs are sought after. Furthermore, increasing demand for anti-aging products that use custom compounded drugs is a prevalent trend across the globe. Innovative sub-therapeutic areas such as bio-identical hormone replacement therapy are also contributing to growing popularity of compounded drugs.
On the basis of product type, the U.S. compounding pharmacies market is segmented into oral medication, topical medication, mouth washes, and suppositories.
Oral medications, constituting drugs that can be swallowed, are expected to exhibit stable growth rates ranging from 4.7% to 8.4% over 2015–2021.
Topical medications constitutes skin-application medications. Expected drivers for topical medication include rising popularity of innovative and promising personalized skin creams. Creams are most popular due to ease of preparation and also longer shelf-life. Ease of product composition even after combining two or three APIs customizes the drug and reduces manufacturing cost. Hence, price range varies significantly, i.e., from US$ 100 to 9,000 and above. Creams are mainly used for minimizing scars, skin irritations and other dermatological concerns and reducing pain at location, where oral dosages are not possible.
Mouthwashes and suppositories are expected to witness slightly lower growth rates owing to formulation rigidity emerging from regulatory restrictions. Popularity of non-sterile products is projected to increase due to increased product safety regulations imposed by the U.S. FDA.
On the basis of application, the U.S. compounding pharmacies market is segmented into medications for adults, veterinary, children, and geriatric population. Among the different application areas, medication for adults is expected to register highest attractiveness index as compared to other application areas during the forecast period. Medication for adults constitute drugs for critical illnesses such as cardiovascular diseases and cancer. Medications for adults are expected to increase owing to more people adopting compounded drugs, as these can be customized as per needs of individual patients.
On the basis of therapeutic area, the U.S. compounding pharmacies market is segmented into pain management and hormone replacement therapy (HRT). Among the two therapeutic area segments, HRT is expected to register highest CAGR as compared to pain management during the forecast period. HRT is expected to gain popularity owing to increasing awareness across the world due to its various benefits associated with age-defying therapies and products to bettering individual health.
Request Report for Table of Contents @ https://www.futuremarketinsights.com/askus/rep-us-978
Key market participants covered in the report include PharMEDium Services, LLC, Institutional Pharmacy Solutions, Cantrell Drug Company, and Triangle Compounding Pharmacies
About Us
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
Contact Us
U.S. Office
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Web: https://www.futuremarketinsights.com/
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
