Despite some negative media attention over the five years to 2018 due to cases of contaminated prescriptions, the Compounding Pharmacies industry has grown thanks to its indispensable place in the broader Healthcare and Social Assistance sector (IBISWorld report 62). Moreover, the aging population has stimulated demand for prescriptions, including compounded medications. However, noncompliance with certain FDA standards caused some operators to exit the industry altogether or contend with costs. Over the five years to 2023, industry revenue is forecast to grow. As the number of physician visits is expected to rise, more individuals will likely be prescribed medications, which will indirectly stimulate demand for compounded pharmaceuticals.
This industry includes stores that make and sell compounded medications that are not commercially available. Compounded medications are those that are prescribed and written by physicians and prepared by pharmacists for individual patients. This industry does not include pharmacies that outsource compounding services to third parties.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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