Increasing drug shortage in the U.S. drives the U.S. ophthalmic compounding pharmacies market from US$ 219.2 million in 2021
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U.S.
Ophthalmic Compounding Pharmacies Market Key Takeaways
•
Eye drops are anticipated to hold the largest market share, estimated at USD
670.88 million in 2021, due to their non-invasive nature and ease of
administration.
•
Conjunctivitis is also anticipated to be the most remunerative therapeutic use
segment and held a leading market share in 2021, owing to rampant cases of
viral and bacterial conjunctivitis.
•
The market is highly concentrated in North America, with the U.S. holding a
significant share due to its advanced healthcare infrastructure and a large
aging population susceptible to eye disorders.
Drug
Shortages and Aging Population Fuels Growth
A
new report by Coherent Market Insights outlines significant trends in U.S.
ophthalmic compounding pharmacies market. Increasing drug shortage in the U.S.,
Increasing geriatric population and improved longevity due to customized
medicines and increasing eye disorders in the U.S. fuels demand for U.S.
ophthalmic compounding pharmacies market.
Regulatory
Hurdles, Supply Issues, and Rising Competition
The
U.S. ophthalmic compounding pharmacies market is subject to various challenges,
such as the rigorous regulatory climate, which may delay the approval and
manufacturing of compounded medications. The mounting pressure to keep
high-quality standards while dealing with cost constraints also burdens smaller
pharmacies. Drug shortages and supply chain disruptions continue to be a major
challenge, impacting the availability of key ingredients. The market is further
faced with the competition from mass-produced pharmaceutical drugs and the
increased need for individualized treatments, which calls for ongoing
innovation.
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Market
Growth Opportunities
The
U.S. market for ophthalmic compounding pharmacies has strong growth prospects
fueled by the growing need for customized therapies, especially in the elderly
who are susceptible to eye diseases. Improved compounding technology and the
facility to produce tailored drugs give it a competitive advantage over
mass-produced drugs.
The
rising prevalence of chronic eye conditions, such as glaucoma and dry eye
syndrome, presents an expanding patient base. Moreover, the growing acceptance
of compounded solutions by healthcare professionals and patients creates a
larger market for tailored treatments.
Emerging
Market Trend
Personalized
Medicine: The need for customized ophthalmic solutions,
which meet specific patient needs, is on the increase, especially for those
conditions that demand special formulation.
Technological
Innovation: The use of high-compounding technology, e.g.,
automated equipment and accurate dosing, is enhancing compounded drugs as much
as there are precision and efficiency involved.
Integration
with Telehealth: With the rise of telemedicine becoming more
popular, ophthalmic compounding pharmacies are starting to offer virtual
consultations as a way of having even more convenient access to customized
therapy for patients.
Analyst
View:
The
US ophthalmic compounding pharmacy industry will be able to gain strong growth
due to the need for a special and customized product in eye care. An aging
population and increasing incidence rate of eye diseases like glaucoma, macular
degeneration, and diabetic retinopathy have boosted the need for a customized
ophthalmic medication. Strategic collaborations between ophthalmic
professionals, compounding pharmacies, and pharmaceutical companies will be
essential in expanding access to tailored treatments and ensuring optimal
patient outcomes, according to senior analyst.
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Competitor
Insights
Key
companies in the global US ophthalmic compounding pharmacy market include
Fagron
Sterile Services US New
Drug Loft & VLS Pharmacy Nora
Apothecary Lifecare
Pharmacy Avella
Specialty Pharmacy Triangle
Compounding Pharmacy O’Brien
Pharmacy Tache
Pharmacy Northmark
Pharmacy Edge
Pharma ImprimisRx.
Key
Developments
•
In November 2020, B Braun entered into a strategic partnership with Grifols to
combine the B Braun's Safe Infusion Systems with Grifols' automated compounding
portfolio for guaranteeing the safety of automated drug delivery.
•
In August 2021, Adamis Pharmaceuticals entered into a definitive agreement for
selling a significant portion of assets of its subsidiary, US Compounding Inc. About Us: Contact Us: Mr. Shah Phone:
US: + 12524771362 
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