Growing acceptance of personalized medicines in U.S.
The U.S. compounding pharmacies market was valued at USD 4,624.4 Mn in 2018 and is expected to reach USD 6,943.4 Mn by the year 2026, growing at a CAGR of 5.2% during the forecast period. Reducing adverse drug reactions, directing targeted therapy, rising patient adherence to treatment, and increasing prevalence of chronic diseases in United States is expected to drive compounding pharmacies market over the forecast period. According to, FDA report on Personalized Medicine, in 2017, 16 personalized drugs were licensed by the U.S. Food and Drug Administration (FDA) Centre for Drug Evaluation and Research (CDER), comprising 34% of the 46 new medicines approved by CDER last year.
The FDA Biologics Evaluation and Research Centre licensed the first ever gene therapies in the United States in 2017, opening the door to a new age in more individualized treatments. All three therapies provide people with acute lymphoblastic leukaemia, broad B-cell lymphoma and retinal dystrophy fresh and much-needed solutions. In the future, more than 42 percent medicines are in the progress have the ability to be personalized medicines. An impressive 73 percent can be personalized drugs in cancer, representing the major impact on oncology study of genetic and molecular technology. Such advancements in personalized medicine allow disorders to be managed more efficiently and effectively, offering great hope for medicine's future. Above mentioned factors are expected to be the key growth driver for U.S. compounding pharmacies industry.
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- The oral medications segment dominated the market in 2018 with a share of 39.6% and is expected to witness growth during the forecast period.
- The pharmaceutical ingredient alteration segment is anticipated to grow with the highest CAGR of 5.9% over the forecast period, followed by Pharmaceutical Ingredient Alteration.
- Adult segment is projected to showcase an overall incremental $ opportunity of USD 1,302.9 Mn between 2018 to 2026.
- In 2018, the U.S. compounding pharmacies market was dominated by pain management therapeutic area, which was 30%.
- In 2019, KRS Global Biotechnology, Inc. Recalls All Drug Products Due to Lack of Assurance of Sterility.
- In 2019, PharMEDium Services, LLC Issues Voluntary Nationwide Recall of 0.5 mg/mL HYDROmorphone HCl in 0.9% Sodium Chloride 1 mL in 3 mL BD Syringe Due to Presence of Sulfite. This is likely to hamper the market share of the company.
- In 2018, Central Admixture Pharmacy Services, Inc. (CAPS) will showcase its 503B and 503A compounding services and quality assurance programs at this year’s American Society of Health-Systems Pharmacists (ASHP) Summer Meeting, June 3-5, at the Colorado Convention Center in Denver, Colorado.
- In 2018, Avella announced that it has been selected by Otsuka America Pharmaceutical, Inc. (Otsuka) to distribute JYNARQUE™ (tolvaptan), the very first FDA-approved therapy for patients diagnosed with autosomal dominant polycystic kidney disease (ADPKD). Avella is one of just three pharmacies providing access to the medication.
- In 2018, PharMEDium Services, LLC Expands Voluntary Nationwide Recall of Additional Lots of Compounded Sterile Products Within Expiry Due to Lack of Sterility Assurance.
- In 2018, Pentec Health’s Nursing Team was honored with ANCC Pathway Award. This is likely to help the company improve its nursing services to next level.