U.S. compounding pharmacies market segmentation by product type, by application and by regions; Compounding pharmacies market - Drugs shortages to boost demand for compounded drugs.
Valley Cottage, NY -- (SBWIRE) -- 12/12/2017 -- 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).
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.
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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.
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Drivers and Trends
A prime driver for growth of the compounding pharmacies market is drug shortages and this phenomenon is relatively prominent in the U.S. In this regard, the FDA noted that there are active drug shortages for over 300 essential drugs in the country and these shortages occur in spurts. Other factors fueling demand include availability of compounded drugs in multi-ingredient combinations for innovative therapeutic areas such as dermatology, hormone replacement therapy, etc. Furthermore, increasing demand for compounded regenerative medicines, which are mostly topical applications, 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.
Availability of compounded drugs in alternate forms such as a lollipops, transdermal applications, or sterile preparations and ease of usage of these drugs for various therapeutic areas and patient classes is further resulting in increased popularity of customized drugs.
Increasing need to conform to regulatory specifications is however becoming a necessity for compounding pharmacies in the U.S.
Summary of Table of Content
1. Research Methodology
2. Assumptions & Acronyms
3. Executive Summary
4. Market Overview
5. Global Compounding Pharmacies Market Analysis
6. Market Dynamics
8. U.S. Compounding Pharmacies Market Introduction
9. U.S. Compounding Pharmacies Market Analysis, By Product type
10. U.S. Compounding Pharmacies Market Analysis, By Application
11. U.S. Compounding Pharmacies Market Analysis, By Therapeutic Area
12. U.S. Compounding Pharmacies Market Trends
13. U.S. Compounding Pharmacies Market Impact Analysis
14. Company Profiles
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