Compounding is the manufacture of a bespoke formulation of a drug to meet particular demand of a patient, such as a medicine dose, that cannot be satisfied by commercially accessible pharmaceutical products in the area of pharmacy. In the United States, traditional compounding pharmacies are not regulated by the Food and Drug Administration (FDA). Conventional compounding, commonly known as 'inside border' compounding, is regulated by state boards of pharmacy. In most U.S. states, the United States Pharmacopeia (USP) has established standard pharmacy compounding processes. Compounding pharmacies are classified into five types: independent stores, compounding departments in hospitals, retail drug manufacturer chains, stores with an online order-delivery system, and multi-location shops. Compounding pharmacies are mostly found in individual stores in the United States.
The injectable compounding pharmacy market in the United States is predicted to be worth US$ 1,317.9 million in 2021, with a CAGR of 7.3 percent during the forecast period (2021-2028).
Hospitals are running out of medications, such as pain relievers, as a result of the COVID-19 epidemic. Thus, the rising incidence of chronic diseases such as diabetes, cancer, and others is likely to raise demand for treatment medications, boosting the growth of the U.S. injectable compounding pharmacy market throughout the forecast period.
For example, the U.S. Food and Drug Administration (FDA) published a paper titled Drug Shortages: Root Causes and Potential Solutions. In 2019, 56 percent of hospitals reported changing patient care or delaying therapy due to medication shortages, while 36.6 percent postponed non-urgent or emergent operations. Such a circumstance encourages the usage of easily available compounded pharmaceuticals, which is projected to support the growth of the injectable compounding pharmacy market in the United States.