Pharmacy Repackaging Systems Market is Expected to Reach US$1.8 bn by the end of 2024

The global pharmacy repackaging system market is expected to witness a tough competition among the players in the market, with almost negligible product differentiation. The major players, Swisslog Holding AG and Omnicell Inc., were valued to account for around 34% of the overall market share, in 2015. Some of the key players apart from these are Becton Dickinson & Company (CareFusion Corporation), Omnicell, Inc., Swisslog Holding Ltd., Yuyama Co., Ltd., Parata Systems, Kirby Lester, TCGRx, Takazono Corporation, ARxIUM, and Pearson Medical Technologies. The major firms are indulging in the expansion in various regions by fulfilling the demand of the healthcare institutes and the patients

According to the research report by Transparency Market Research (TMR), the global pharmacy repackaging systems market is estimated to expand at a steady CAGR of 7.8% within the forecast period from 2016 to 2024. In 2015, the market was worth US$997.1 mn, which is expected to reach around worth of US$1.8 bn by the end of 2024.

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The pharmacy repackaging systems market is categorized based on product into pouch packaging automation systems, liquid medication packaging systems, blister card/compliance packaging systems, bottle filling/ pill counting automation systems, and so on. Among these, the blister card/compliance packaging systems segment is anticipated to lead the global market in the forthcoming years. Geographically, Europe and North America market is expected to dominate the global market owing to the development in healthcare. The firms are now concentrating on the research activities of the medications by getting inclined towards pharmacy automation systems including repackaging systems.

Stringent Regulations by Various Government to Fuel Market Demand

The increasing cases of erroneous deaths because of the improper administration of the medicines and drugs is foreseen to propel growth of the global pharmacy repackaging systems market. The market is additionally profiting by the stringent controls in various healthcare centers, hospitals and drug stores that need the reduction in such blunders, fatalities, and expenses because of poor administration of dosages. Developing emphasis on understanding wellbeing has surged the interest for smart innovations that have been developed and created to prevent medical errors. The developing awareness relating to the proficient administration of stock with automation technology is additionally anticipated to give the global market a jolt in the coming years.

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High Implementation Cost to Hamper Market Growth

Be that as it may, the soaring expense of implementation of pharmacy repackaging framework is likely to be a key factor in charge of limiting the development of the global market during tenure of 2016 and 2024. Moreover, absence of awareness about the potential advantages these computerized systems can offer in a few regions markets has been a critical inhibitor as well in the global market. This controlling factors have emerged in developing nations of the world, where medicinal services establishments are affordable and less knowledgeable investment, around one-time investment that can be receive rewards for quite a while.

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This analysis is based on a recent market research report by Transparency Market Research, titled, “Pharmacy Repackaging Systems Market (Product – Blister Card/Compliance Packaging Systems (Multi Dose Blister Card Packaging Systems, Single Dose Blister Card Packaging Systems, Heat Sealers, and Deblisters Machines), Pouch Packaging Automation Systems (Automatic Tablet Packager and Pouch Verification System), Bottle Filling/ Pill Counting Automation Systems (Automated Bottle Filler and Pill Counter), and Liquid Medication Packaging Systems (Oral Liquid Filling Syrup and Automated Vial Filling Pump) ; End User – Retail/Community Pharmacy, Hospital Pharmacy, Long-term Care (LTC) Pharmacies, and Mail Order Pharmacies) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”

Key Takeaways:

The increasing cases of erroneous deaths because of the improper administration of the medicines and drugs is foreseen to propel growth of the global pharmacy repackaging systems market.
Developing emphasis on understanding wellbeing has surged the interest for smart innovations that have been developed and created to prevent medical errors.

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