Compounding Pharmacies Market: U.S. Industry Assessment and Forecast; 2015–2021
This Future Market Insights report examines the U.S. compounding pharmacies market for the period 2015–2021. The primary objective of the report is to offer updates and information related to market opportunities in the U.S compounding pharmacies market.
The U.S. compounding pharmacies market report provides insights about compounded drugs, which are customized medicines, prepared by a pharmacist, or a physician and are available in strengths not commercially available. These medicines are easily available at community pharmacies and are known to provide personalized relief. Compounded drugs are available in various forms such as oral applications (capsules, mixtures, etc.), topical applications (creams, gels, lotions, ointments, etc.), and suppositories. These drugs can be formulated for both human beings and animals. The U.S. compounded drug market is expected to expand at a CAGR of 5.7% over the forecast period (2015–2021) to account for US$ 4,812.2 Mn by 2021.
To understand and assess the opportunities in this market, the report is categorically split into three sections, namely, market analysis by product and therapeutic area. The report analyzes the U.S. compounding pharmacies market in terms of market value (US$ Mn).
The report starts with an overview of the U.S. compounding pharmacies market and its usage in various applications. In the same section, FMI covers the U.S. compounding pharmacies market performance in terms of revenue. This section includes, FMI’s analysis of key trends, drivers and restraints from supply and demand perspectives.
The next section of the report analyzes the market on the basis of product type and presents the forecast in terms of value for all the years till 2021. Product types covered in the report are as follows:
The next section of the report analyzes the market on the basis of application segments and presents the forecast in terms of value for the following six years. Drug applications covered in the report are as follows:
Medications for adults
Medication for veterinary purposes
Medications for children
Medications for the geriatric population
Post applications, the section of the report that follows analyzes the market on the basis of therapeutic areas and it in terms of value for the forecast period. Therapeutic areas covered in the report are as follows:
Hormone replacement therapy
When developing the market forecast, the starting point involves sizing the current market, which forms the basis for the forecast of how the market is anticipated to take shape in the near future. For this, FMI referred to several subject matter experts in the compounding pharmacy domain. Given the characteristics of the market, we triangulated the outcome based on different analysis based on supply side, demand side and dynamics of the market such as regulations and GMP guidelines of the compounding pharmacies market. Quantification of data has been considered along with provision of quality insights collected directly from the market through discussion with pharmacists, suppliers, physicians and subject matter experts. This is how market analysis for the forecast period is carried out.
We have also taken into consideration year-on-year growth based on historical growth analysis to understand predictability of the market and to identify right opportunities in the U.S. compounding pharmacies market.
As previously highlighted, the market for U.S. compounding pharmacies is split into various segments on the basis of application, product and therapeutic area. All these segments have been analyzed in terms of Basis Point Share (BPS) to understand the individual segments’ relative contribution to market growth. This detailed level of information is important for identification of various key trends in the U.S. compounding pharmacies market.
Additionally, the absolute dollar opportunity provided in the report is critical and is expected to help in assessing the level of opportunity that a provider can look to achieve from a sales perspective in the U.S. compounding pharmacies market.
Furthermore, FMI has developed the market attractiveness index for all three segments, namely, application, therapeutic area and product segments. This index helps in identifying the real opportunities in the market.
In the final section of the report, the U.S. compounding pharmacies market landscape is included to provide report audiences with a dashboard view, based on categories of providers in the U.S. compounding pharmacies product portfolio; their key developments and strategies have also been included, wherever possible. Key market participants covered in the report are PharMEDium Services, LLC, Institutional Pharmacy Solutions, Cantrell Drug Company, and Triangle Compounding Pharmacies