North America Sterile Compounding Pharmacies Market Demand,
Supply, Growth Factors 2028

The North America Sterile Compounding Pharmacies Market is expected to grow from US$ 1,997.45 million in 2021 to US$ 3,218.93 million by 2028; it is estimated to grow at a CAGR of 7.1% from 2021 to 2028.

Personalized medicine is rapidly gaining traction due to its ability to deliver targeted drugs and precise dosages. A report by the Personalized Medicine Coalition indicates that over a quarter of all new therapeutics approved since 2015 were personalized medicines. For example, in 2020, the FDA's CDER approved 53 new molecular entities (NMEs), and among the 49 therapeutic NMEs, 19 (approximately 39%) were personalized medicines. This figure represents the highest percentage since 2018, when personalized medicines constituted 42% of newly approved NMEs.

North America Sterile Compounding Pharmacies Market medications are emerging as a crucial alternative to traditional pharmacy compounding, particularly in addressing specific patient needs unmet by FDA-approved drugs. Sterile compounding pharmacies offer customized formulations, such as injectable drugs administered through various routes, and allow for tailored dosages based on individual patient requirements regarding strengths or forms. This customization can also eliminate components of FDA-approved drugs that patients may be allergic to. Furthermore, sterile products provide solutions when patients do not respond to conventional treatments or require different administration routes and varying strengths.

Given that compounding is integral to customized medicine, the increasing demand for precision therapies in recent years has created new revenue opportunities for sterile compounding pharmacies. Several key players are strategically focusing on inorganic growth to innovate and develop efficient products, a trend expected to further propel North America Sterile Compounding Pharmacies Market growth in North America.

Both community and hospital compounding units played a significant role in managing the COVID-19 pandemic. However, the surge in demand for personal protective equipment (PPE) and other supplies strained many hospitals' ability to maintain the integrity and safety of their sterile compounding operations. During the pandemic, the United States Pharmacopeia (USP) issued new guidance to address operational challenges related to sterile compounding during the COVID-19 crisis. Hospitals are actively reassessing their sterile compounding approaches due to equipment shortages caused by the pandemic, with the extent of necessary adjustments varying significantly across institutions and over time. Additionally, a report from the Government of Canada highlighted that the pandemic caused various business challenges, including disruptions in supply and distribution chains and limited availability of contract service providers, impacting tasks such as external calibration and specialized equipment maintenance. Consequently, these factors significantly impacted the North America Sterile Compounding Pharmacies Market.

North America Sterile Compounding Pharmacies Market: Strategic Insights

Strategic insights for the North America Sterile Compounding Pharmacies market offer data-driven analysis of the industry landscape, encompassing current trends, key players, and regional specificities. These insights provide actionable recommendations, enabling stakeholders to differentiate themselves by identifying untapped market segments or developing unique value propositions. By leveraging data analytics, these insights assist industry players—including investors, manufacturers, and other stakeholders—in anticipating market shifts. A forward-looking perspective is crucial for stakeholders to prepare for market changes and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the North America Sterile Compounding Pharmacies Market.

North America Sterile Compounding Pharmacies Market Segmentation        

North America Sterile Compounding Pharmacies Market – By Product

• Injectable Drugs
• Infusions

North America Sterile Compounding Pharmacies Market – By Route of Administration

• Intravenous
• Intramuscular
• Subcutaneous

North America Sterile Compounding Pharmacies Market– By Country

• US
• Canada
• Mexico

North America Sterile Compounding Pharmacies Market-Companies Mentioned

• Avella Specialty Pharmacy
• B. Braun Melsungen AG
• Fagron, Inc.
• Fresenius Kabi AG
• Pace Pharmacy
• Pavilion Compounding Pharmacy, LLC.
• Pencol Compounding Pharmacy
• PharMEDium Healthcare Holdings, Inc.
• SandsRx
• Triangle Compounding Pharmacy

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Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights