According to the report titled ‘North America Compounding Pharmacies Market Size By Compounding Type, By Therapeutic Area, By Product, By Application, By Sterility, By Distribution, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’ available with Market Study Report, North America compounding pharmacies market is estimated to be appraised at USD 7.8 billion by the year 2026.
 

Prevalence of chronic disorders across the region with patient inclination towards personalized medications owing to their benefits is primarily stimulating North America compounding pharmacies market.
 

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Notably, compounding pharmacies formulate medications that are hypoallergenic with higher efficacy, based on custom dosages. Different drugs can be combined without adulteration, thereby reducing the number of pills and lowering the medicine cost.
 

Speaking of therapeutic areas, pain management segment of North America compounding pharmacy industry was valued at USD 1.8 billion in 2019. Increasing cases of chronic pain among adults as a result of sedentary lifestyle, in tandem with booming geriatric population who are more susceptible to chronic pain conditions will raise the demand for pain management medication.
 

Based on product, the rectal segment captured approximately 9% market share in 2019. Factors that can be credited for the same include preference for rectal administration when oral route is prohibited or inconvenient, along with the ability of rectal products to have a placebo effect when treating anorectal illnesses.
 

As per application scope, North America compounding pharmacies market share from veterinary segment is slated to grow at an annual rate of 5% over the forecast period. Convenience of adding flavors to drugs, availability of personalized delivery systems, increase in number of pets, and rising purchasing power of pet owners are factors contributing to the growth of compounding pharmacies in the veterinary segment.
 

Speaking of compounding type, pharmaceutical dosage alteration (PDA) segment accounted for 18.2% revenue share in 2019. Focus on altering dosage as per patient’s requirement is a key factor driving growth of the PDA segment. Furthermore, harmful effects of allopathic drugs on elderly people suffering from chronic disorders will bolster the demand for PDA.
 

Moving on to sterility, non-sterile segment of North America compounding pharmacies industry was valued at USD 3.7 billion in 2019. Rising demand for topical pain killers for treating chronic pain, and adoption of non-sterile pills syrups and capsules are augmenting the segmental share.
 

From regional frame of reference, the U.S. compounding pharmacies market is predicted to expand at 6% CAGR over 2020-2026, on account of incorporation of latest technologies for preparing affordable customized drugs, and booming elderly populace.
 

Key players operating in North America compounding pharmacies market sphere include Fresenius Kabi, Wedgewood Village Pharmacy LLC, Athenex, Dougherty’s Pharmacy, Pencol Compounding Pharmacy, Lorraine’s Pharmacy, Clinigen Group, Fagron NV, Nephron Pharmaceuticals Corporation, Triangle Compounding Pharmacy, Rx3 Compounding Pharmacy, The McGuff Companies, and B. Braun Medical Inc.