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North America Compounding Pharmacies Market Reginal Outlook – Industry Analysis by 2026

North America Compounding Pharmacies Market Size is Estimated To Exceed USD 7.8 Billion By 2026. The increasing advantages of compounded drugs coupled with rising number of patients visiting physicians to address chronic illness across North America region will offer lucrative market growth opportunities.<br><br>Convenience and benefits offered by compounded medication will create lucrative growth opportunities for market expansion. Customized medication can be formulated to custom dosage levels that can produce hypoallergenic versions of commercial drugs or formulate liquid dosages for patients. Similarly, several drugs can be combined into a single pill through compounding, reducing the overall number of pills. Access to superior quality and unadulterated ingredients enables pharmacists to develop medication at a lower cost. Also, removal of preservatives and designer dyes can lower the cost even further. Capability of compounding pharmacies to formulate hard-to-find drugs will foster the overall market growth.<br>

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North America Compounding Pharmacies Market Reginal Outlook – Industry Analysis by 2026

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  1. North America Compounding Pharmacies Market By Product and by Application Potential till 2026: Graphical Research ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  2. North America Compounding Pharmacies Market Size is Estimated To Exceed USD 7.8 Billion By 2026 The increasing advantages of compounded drugs coupled with rising number of patients visiting physicians to address chronic illness across North America region will offer lucrative market growth opportunities. Convenience and benefits offered by compounded medication will create lucrative growth opportunities for market expansion. Customized medication can be formulated to custom dosage levels that can produce hypoallergenic versions of commercial drugs or formulate liquid dosages for patients. Similarly, several drugs can be combined into a single pill through compounding, reducing the overall number of pills. Access to superior quality and unadulterated ingredients enables pharmacists to develop medication at a lower cost. Also, removal of preservatives and designer dyes can lower the cost even further. Capability of compounding pharmacies to formulate hard-to-find drugs will foster the overall market growth. ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  3. Get sample copy of this research report @ http://bit.ly/3aEMP21 Request for customization @ http://bit.ly/3cFhvmg ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  4. Based on therapeutic area, the North America compounding pharmacies market is segmented into dermatology applications, specialty drugs, pain management, nutritional supplements, and hormone replacement. Amongst them, the pain management segment held around USD 1.8 billion in 2019. Growing cases of chronic pain among adults owing to sedentary lifestyle will surge the demand for pain management medication. For instance, as per Centers for Disease Control and Prevention (CDC), in 2016, around 20.4% of U.S. adults had chronic pain. Additionally, elderly population base is more susceptible to chronic pain that will drive the market growth. On the basis of product, the North America compounding pharmacies market is fragmented into nasal, topical, otic, rectal, ophthalmic, parenteral and oral. The rectal segment witnessed around 9% market share in 2019. Rectal administration is a good substitute when oral route is not allowed and are less costly, that increases the demand for compounding pharmacies. Rectal dosage forms offer considerable placebo effect in the treatment of anorectal illnesses positively influencing the segmental progression. ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  5. The North America compounding pharmacies market, based on application is divided into veterinary, pediatric, adult and geriatric. Amongst them, the veterinary segment will exhibit around 5% CAGR over the analysis timeframe. Veterinary compounded medication offers wide range of prescription options such as addition of flavors to drugs and customized delivery systems driving the market growth. Increasing number of companion animals coupled with change in purchasing power of pet owners will enhance the demand for compounding pharmacies among animals. Compounding type segment covers currently unavailable pharmaceutical manufacturing (CUPM), pharmaceutical dosage alteration (PDA), pharmaceutical ingredient alteration (PIA) among others. The pharmaceutical dosage alteration (PDA) segment is anticipated to exhibit more than 18.2% revenue share in 2019. Increasing need for altering dosage form according to patient’s need will increase its adoption rate over the analysis timeframe. Allopathic drugs may cause adverse reactions in elderly population base suffering from chronic ailments will accelerate the demand for compounding pharmacies. The North America compounding pharmacies market, on the basis of sterility is segmented into non-sterile and sterile. The non-sterile segment held over USD 3.7 billion market revenue in 2019. Growing incidence of chronic pain will create demand for non-sterile medications such as topical pain relievers and pills over the forecast period. Increasing demand for non-sterile medications such as syrups, pills and capsules will augment the segmental progression. ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  6. Based on distribution channel, the North America compounding pharmacies market is classified into hospital pharmacy, compounding pharmacies, and others. The compounding pharmacies segment accounted for around 39% market share in 2019. Rising awareness regarding the benefits of compounded medications will stimulate the growth of compounding pharmacies. Increasing number of compounding pharmacies across the U.S. and Canada will show lucrative growth over the forecast period. Availability of compounded medications with customization in drug alteration and addition of flavor based on patient’s preference in compounding pharmacies will drive the market progression. U.S. compounding pharmacies market is projected to experience around 6% CAGR during the analysis period. Rising adoption of new technologies makes the customized medicine more affordable to patients that will be beneficial for regional growth. The U.S. ageing population is rising rapidly over the past decade and the trend is expected to continue over the analysis period. According to the Population Reference Bureau, the number of Americans of age 65 and older is anticipated to nearly double from over 52 million in 2018 to about 95 million by 2060. The aging population prone to several chronic illness is expected to surge the demand for various compounding pharmacies drugs. ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  7. Some of the well-known industry players operating in the North America compounding pharmacies market include Fagron, Institutional Pharmacy Solutions, Nephron Pharmaceuticals, B. Braun Medical, Mc Guff Company, Clinigen Group, Triangle Compounding Pharmacies, Dougherty's Pharmacy, Athenex, Pencol Compounding Pharmacy, Wedgewood Village Pharmacy, Rx3 Compounding Pharmacy, Lorraine’s Pharmacy and Fresenius Kabi. These eminent industry players have undertaken various growth strategies for maintaining strong foothold in compounding pharmacies market. For instance, in April 2020, Nephron announced the U.S. FDA approval for a new production line. This will help the company cater to growing demand for compounded medication and increase their revenue. North America compounding pharmacies market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments: Compounding Pharmacies Market, By Therapeutic Area, 2015 - 2026 (USD Million) Hormone Replacement Pain Management Dermatology applications Specialty drugs Nutritional supplements Others . ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  8. North America Compounding Pharmacies Market, By Application, 2015 - 2026 (USD Million) Pediatric Adult Geriatric Veterinary North America Compounding Pharmacies Market, By Compounding Type, 2015 - 2026 (USD Million) Pharmaceutical Ingredient Alteration (PIA) Currently Unavailable Pharmaceutical Manufacturing (CUPM) Pharmaceutical Dosage Alteration (PDA) Others ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  9. About Graphical Research: Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle. Contact Us: Parikhit B. Corporate sales, Graphical Research Email:sales@graphicalresearch.comWeb: https://www.graphicalresearch.com ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  10. Stay In Touch With Us For: Website: www.graphicalresearch.com Social Media: Assured Quality On-Time Delivery Payment Security Industry Experts ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

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