May 25, 2024
Ophthalmic Compounding Pharmacies Market

Artificial Intelligence (AI) is Fastest Growing Segment fueling the growth of U.S. Ophthalmic Compounding Pharmacies Market

The global U.S. Ophthalmic Compounding Pharmacies Market is estimated to be valued at US$ 241.67 Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Ophthalmic compounding pharmacies provide customized ophthalmic medications to meet patients’ specific needs. These customized medications are alternatives to commercially available drugs and help improve treatment outcomes for various eye diseases and conditions.

Market key trends:
One of the key trends driving the growth of U.S. ophthalmic compounding pharmacies market is the increasing demand for customized eye medications. Pharmacists at these compounding facilities work closely with ophthalmologists to design unique recipes for eye drugs based on individual patient’s diagnosis and risk factors. They incorporate specific ingredients, dosage forms, delivery mechanisms and concentrations required to maximize treatment effectiveness. This customized approach has boosted treatment outcomes for many complex eye conditions and fueled market demand over the past few years.

Segment Analysis
The U.S. ophthalmic compounding pharmacies market is dominated by custom medication segment. This segment holds the highest market share owing to growing demand for customized ointments, topical solutions, and other formulations to treat specific eye conditions as per patient requirements. Custom medication offers advantages such as design according to the need of the patient, and allow flexibility in modifying doses and ingredients.

Key Takeaways
Global U.S. Ophthalmic Compounding Pharmacies Market Size is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period, due to increasing prevalence of eye diseases and rise in number of ophthalmic surgeries.

The regional analysis shows that the South region holds the highest market share in 2023. This is attributed to the presence of major pharmaceutical companies and availability of advanced healthcare facilities in this region. It is also expected to witness the highest CAGR during the forecast period.

Key players operating in the U.S. ophthalmic compounding pharmacies are Fagron Sterile Services US, New Drug Loft & VLS Pharmacy, Nora Apothecary, Lifecare Pharmacy, Avella Specialty Pharmacy, Triangle Compounding Pharmacy, O€TMBrien Pharmacy, Tache Pharmacy, Northmark Pharmacy, Edge Pharma, and ImprimisRx. ImprimisRx dominates the market owing to its wide product portfolio and strong distribution network across the country.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it