According to Nova one advisor, the global compounding pharmacies market size was estimated at USD 16.19 billion in 2023 and is projected to reach USD 30.97 billion by 2033, registering at a CAGR of 6.7% from 2024 to 2033.
The compounding pharmacies market is expanding due to the critical role compounded medications play in providing customized, flexible, and precise dosing when FDA-approved drugs are unavailable or unsuitable. These medications are essential for patients requiring tailored doses or those with allergies to components in commercially available drugs. Compounded medications address pharmaceutical needs during national drug shortages, which strain the ability to provide adequate care. This flexibility and ability to alleviate drug shortages contribute significantly to the growth of the compounding pharmacies market.
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Compounding Pharmacies Market Key Takeaways
• North America accounted for the largest share of 49.11% in 2023.
• The U.S. compounding pharmacies market size was estimated at USD 5.95 billion in 2023 and is expected to be worth around USD 10.76 billion by 2033, poised to grow at a compound annual growth rate (CAGR) of 6.1% during the forecast period 2024 to 2033.
• The pain management segment dominated the market with the largest revenue share of 34.86% in 2023.
• The nutritional supplements segment is anticipated to witness the fastest growth rate over the forecast period.
• Based on the age cohort, the market is divided into adult, pediatric, and geriatric. The adult segment dominated the market with the largest revenue share of 46.1% in 2023.
• The pediatric segment is expected to witness the fastest growth rate over the forecast period.
• Based on sterility, the market is segmented into sterile and non-sterile. The sterility segment dominated the market with the largest share of 59.52% in 2023. It is expected to expand further at the fastest growth rate over the forecast period.
• Based on the compounding types, The PIA segment dominated the market with the largest market of 39.19% in 2023 and is expected to witness the fastest growth rate over the forecast period.
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Compounding Pharmacy Market At A Glance
The compounding pharmacies market is experiencing rapid growth due to the increasing demand for customized medications that traditional pharmacy practices cannot fulfill. Compounding involves combining, mixing, or altering ingredients to create tailored medications based on a licensed practitioner’s prescription. This approach is crucial for geriatric patients, children who cannot swallow pills, and individuals requiring specialized dosage forms such as lollipops or effervescent drinks. Compounding addresses dietary needs with gluten-free, sugar-free, casein-free, vegetarian, vegan, or Kosher options. Common compounded medications include those for pain management (e.g., gabapentin, ketamine) and hormone replacement (e.g., progesterone, testosterone), as well as dermatological treatments offering enhanced therapeutic effects through customized ingredient combinations. This adaptability and personalization are key drivers of the market’s expansion.
• In October 2023, FarmaKeio Custom Compounding enhanced its healthcare services through the acquisition of a state-of-the-art compounding pharmacy.
• In April 2024, Myonex, a leading global clinical trial supply company, completed the acquisition of SaveWay Compounding Pharmacy of Newark, Del. The pharmacy will operate as SaveWay Compounding Pharmacy, a Myonex company.
North America to Sustain the Dominance over the Predicted Timeframe
North America is poised to lead the compounding pharmacies market throughout the forecast period. In the United States, approximately 7,500 of the 56,000 pharmacies offer compounding services, providing specialized formulations and customized medications tailored to individual patient needs. The USP Compounding Compendium, which includes standards from the United States Pharmacopeia and the National Formulary (USP–NF), underpins these services, ensuring adherence to official drug standards. This robust framework and the focused delivery of personalized medication contribute significantly to North America’s dominant position in the market.
Asia Pacific is anticipated to experience the highest CAGR in the compounding pharmacies market over the forecast period. While compounded drugs address critical medical needs for certain patients, they also pose inherent risks. Compounding can occur in various settings, including pharmacies, hospitals, clinics, and outsourcing facilities that supply compounded drugs without patient-specific prescriptions. India, a leading hub for medical tourism, offers cost-effective treatments facilitated by advanced technologies and significant reforms. The country’s strong pharmaceutical sector, characterized by low manufacturing costs, further supports its potential for market growth in the compounding industry.
Recent Breakthrough in Compounding Pharmacies Market
• In July 2024, Revelation Pharma, a nationwide pharmacy headquartered in Florida, has expanded its reach by acquiring pharmacies on both coasts. This acquisition includes a company based in Washington state, furthering Revelation’s coast-to-coast expansion.
• In April 2024, Myonex has completed the acquisition of Saveway Compounding Pharmacy. This acquisition enhances Myonex’s ability to support clinical trial sponsors with direct-to-patient (DTP) and home healthcare provider (HHP) services. It expands patient access nationwide, ensuring they receive the trial medications and equipment they need.
• In March 2024, Medios has acquired the leading pharmaceutical compounding services provider in the Dutch market. This acquisition positions Medios to capitalize on the significant growth in homecare, clinics, and hospitals in the Netherlands and Belgium.
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Compounding Pharmacy Market Segment
By Therapeutic Area, the pain management segment led the market.
In the global compounding pharmacies market, the pain management segment is expected to lead over the forecast period. Compounded analgesics are tailored to individual patient specifications, enhancing the effectiveness of pain management strategies. These formulations can include a range of ingredients such as amantadine, amitriptyline, benzocaine, baclofen, clonidine, diclofenac, lidocaine, ketoprofen, and tetracaine. By providing concentrated analgesics at the application site or utilizing low-dose and multi-drug combinations, compounding pharmacies can address various pain pathways, optimizing pain relief for patients. This customization and precision in pain management make this segment a dominant force in the market.
By Route of Administration, the oral administration segment led the market.
In the global compounding pharmacies market, the oral administration segment is projected to hold the largest revenue share throughout the forecast period. Oral administration remains the most convenient and cost-effective route for medication delivery, widely utilized due to its ease of use and patient compliance. The primary site of drug absorption is the small intestine, with the bioavailability of the medication being significantly influenced by the amount absorbed through the intestinal epithelium. The first-pass effect is a critical factor for orally administered drugs, impacting their overall efficacy. This combination of convenience, cost-effectiveness, and efficiency in drug absorption positions the oral segment as the dominant force in the market.
By Distribution Channel , the hospital pharmacy segment led the market.
In the global compounding pharmacies market, the hospital pharmacy segment is anticipated to dominate throughout the forecast period. Hospital pharmacies, licensed to operate within or for hospitals, are integral in delivering pharmacy services to admitted patients. These facilities are equipped to provide specialized compounding services tailored to the needs of hospitalized patients, including customized formulations and formulations for complex medical conditions. Their crucial role in patient care and their capability to manage and dispense compounded medications in a controlled hospital environment position hospital pharmacies as the leading distribution channel in the market.
In the global compounding pharmacies market, hospital pharmacies are crucial in addressing the needs of pediatric patients who often require medications in non-commercial forms or with added flavorings to enhance compliance. As hospital pharmacists increasingly shift from traditional non-clinical dispensing roles to more clinical and patient-centered functions, the reliance on pharmacy technicians employed in 95% of hospital pharmacies becomes essential. These technicians support the evolving demands of hospital pharmacy services, enabling pharmacists to focus on advanced clinical roles and thereby reinforcing the dominance of hospital pharmacies within the market.
Compounding Pharmacy Market Companies
• Fresenius Kabi
• Fagron NV
• B. Braun Medical Inc.
• Rx3 Compounding Pharmacy
• Clinigen Group PLC
• Dougherty’s Pharmacy, Inc.
• Lorraine’s Pharmacy
• Wedgewood Pharmacy
• Institutional Pharmacy Solutions
• Mcguff compounding pharmacy services
Segments Covered in the Report:
By Therapeutic Area
• Pain Management
• Hormone Replacement
• Dermal Disorders
• Nutritional Supplements
• Others
By Route of Administration
• Oral
• Topical
• Parenteral
• Others
By Age
• Pediatric
• Geriatric
• Adult
• Veterinary
By Compounding Type
• Pharmaceutical Dosage Alteration (PDA)
• Pharmaceutical Ingredient Alteration (PIA)
• Currently Unavailable Pharmaceutical Manufacturing (CUPM)
• Others
By Sterility
• Sterile
• Non-sterile
By Distribution Channel
• Compounding Pharmacy
• Hospital Pharmacy
• Others
By Geography
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
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Nova One Advisor Group Offer Other Reports:
U.S. Compounding Pharmacies Market : The U.S. compounding pharmacies market size was estimated at USD 5.95 billion in 2023 and is expected to be worth around USD 10.76 billion by 2033, poised to grow at a compound annual growth rate (CAGR) of 6.1% during the forecast period 2024 to 2033.
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