Tools commonly used in the Compounding (Retail) industry for day-to-day tasks and operations.

• Mortar and pestle
• Electronic balance
• Capsule filling machine
• Ointment mill
• Powder mixer
• Suppository mold
• Syringe
• Vial
• Graduated cylinder
• PH meter

Common products and services typical of NAICS Code 456110-14, illustrating the main business activities and contributions to the market.

• Hormone replacement therapy
• Pain management
• Dermatology
• Pediatrics
• Veterinary medicine
• Sports medicine
• Podiatry
• Ophthalmology
• Oncology
• Dental

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Pharmacy Technician Certification: This certification is required for pharmacy technicians who assist licensed pharmacists in dispensing medications. The Pharmacy Technician Certification Board (PTCB) provides this certification.
• Compounding Pharmacy Accreditation: This accreditation is provided by the Pharmacy Compounding Accreditation Board (PCAB) to ensure that compounding pharmacies meet certain quality standards.
• Drug Enforcement Administration (DEA) Registration: Compounding pharmacies must register with the DEA to handle controlled substances.
• State Board Of Pharmacy License: Compounding pharmacies must be licensed by the state board of pharmacy in the state where they operate.
• United States Pharmacopeia (USP) Compliance: USP sets standards for the quality, purity, and strength of medicines, including compounded medications. Compounding pharmacies must comply with USP standards.

A concise historical narrative of NAICS Code 456110-14 covering global milestones and recent developments within the United States.

• The compounding industry has been around for centuries, with the first recorded use of compounding dating back to ancient Egypt. The practice of compounding was used to create medicines from natural ingredients, and it was not until the 19th century that synthetic drugs were introduced. In the United States, compounding pharmacies became popular in the 20th century, with the first compounding pharmacy opening in the 1930s. In recent years, the compounding industry has faced challenges due to regulatory changes and safety concerns, but it continues to play an important role in providing customized medications to patients with unique needs.

The anticipated future trajectory of the NAICS 456110-14 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The future outlook for the Compounding (Retail) industry in the USA is positive. The industry is expected to grow due to the increasing demand for personalized medication and the aging population. The industry is also expected to benefit from the increasing number of people with chronic diseases who require customized medication. Additionally, the industry is expected to benefit from the increasing use of technology in the compounding process, which will improve efficiency and accuracy. However, the industry may face challenges such as increased competition from traditional pharmacies and regulatory changes. Overall, the Compounding (Retail) industry is expected to experience steady growth in the coming years.

Recent groundbreaking advancements and milestones in the Compounding (Retail) industry, reflecting notable innovations that have reshaped its landscape.

• Use Of 3D Printing Technology to Create Customized Medication: This innovation allows for the creation of personalized medication that is tailored to the specific needs of each patient. The use of 3D printing technology also allows for the creation of medication in different shapes and sizes, making it easier for patients to take their medication.
• Development Of New Compounding Techniques: The development of new compounding techniques has led to the creation of more effective and efficient medication. For example, the use of microencapsulation technology allows for the creation of medication that is released slowly over time, providing a more consistent and long-lasting effect.
• Increased Use Of Automation In the Compounding Process: The use of automation in the compounding process has led to increased efficiency and accuracy. Automation allows for the creation of medication in a more controlled environment, reducing the risk of contamination and errors.
• Expansion Of Compounding Services to Include Veterinary Medication: The expansion of compounding services to include veterinary medication has created a new market for the industry. This innovation allows for the creation of medication that is tailored to the specific needs of animals, improving their health and well-being.
• Growing Popularity Of Natural and Alternative Medicine: The growing popularity of natural and alternative medicine has created a new market for the industry. Compounding pharmacies are able to create medication that is tailored to the specific needs of each patient, including those who prefer natural and alternative medicine.