Market Dynamics:
The growth of the U.S. compounding pharmacies market is driven by the rising prevalence of various medical conditions that require customized medications which standard pharmaceutical manufacturing cannot address. For instance, according to the estimates of American Cancer Society, around 1.8 million new cancer cases are expected to be diagnosed in the U.S. in 2020. Compounded medications are widely used for cancer patients undergoing chemotherapy in multiple formulations such as oral doses, gels, and topical forms.

Additionally, growing demand for customized medications for veterinary applications is also boosting the demand for compounding pharmacies. Pets often require compounded medications to treat various conditions in smaller doses, specific flavors, or alternate formulations not available in commercial medications. Furthermore, the ability of compounding pharmacies to create medications from unusual ingredients, especially for niche conditions, contributes towards the market growth over the forecast period.

Key Takeaways:

The U.S. Compounding Pharmacies Market Size is expected to witness high growth, exhibiting a CAGR of 5.9% over the forecast period, due to increasing demand for customized medications. The market size was valued at US$ 5072.19 Mn in 2023.

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