Automated Compounding Systems Market is expected to reach US$ 684.17 Mn by 2027 | Baxter International Inc., Braun Melsungen AG, Comecer, ICU MEDICAL INC, Grifols, S.A., OMNICELL INC., EQUASHIELD, ARxIUM, Weibond Technology, and NewIcon

According to the latest study on 'Automated Compounding Systems Market Forecast to 2027 - Covid-19 Impact and Global Analysis by Product Type and End User'. The global automated compounding systems market was valued at US$ 403.88 million in 2019 and is projected to reach US$ 684.17 million by 2027; it is expected to grow at a CAGR of 7.0% during 2020–2027. The report highlights the trends prevailing in the global automated compounding systems market and the factors driving the market along with those that act as deterrents to its growth.

Get a Sample Copy of the Report@ https://www.theinsightpartners.com/sample/TIPRE00010169/?openpr-10225

Based on product type, the automated compounding systems market is segmented into gravimetric automated compounding systems and volumetric automated compounding systems. The gravimetric automated compounding systems held the largest share of the market in 2019 and it is expected to continue its dominance during the forecast period. The large share of gravimetric automated compounding systems is attributed to the accuracy provided by the systems, preference by the pharmacies and hospitals for the gravimetric systems, enormous commercial use of the systems in the market. For instance, fully automated compounding systems, such as RIVA, use precise automated measuring methods and gravimetric checks to ensure the accuracy of each dose.

Factors such as the growing adoption of chemotherapy and personalized medication, rising need to minimize medication errors are driving the market growth. However, the high cost of automated compounding systems will impede the market growth. Furthermore, increasing awareness in pharmacists is likely to offer significant opportunities for the growth of the global automated compounding systems market.

Baxter International Inc., Braun Melsungen AG, Comecer, ICU MEDICAL INC, Grifols, S.A., OMNICELL INC., EQUASHIELD, ARxIUM, Weibond Technology, and NewIcon are some of the notable companies present in the automated compounding systems market. Various companies are focusing on inorganic growth strategies such as mergers & acquisitions, partnerships, collaborations, and acquisitions. For instance, in Oct 2018, Equashield entered into a distribution partnership with Saudi Arabia-based Max Care Medical. Max Care will market and sell Equashield’s Closed System Transfer Device for the safe compounding of hazardous drugs in Saudi Arabia and the broader of Middle East and North Africa (MENA) region.

Market Insights

Growing Adoption of Chemotherapy and Personalized Medication

Cancer is a shattering disease that causes significant number of deaths every year. Due to disease heterogeneity, standard cures such as chemotherapy or radiation are an efficient solution as a treatment among the patient population. Chemotherapy is a drug therapy that needs powerful chemicals to eliminate fast-multiplying tumor cells in the body. Chemotherapy is most often used to treat malignancy, as the cancer cells grow and increase rapidly compared to other cells in the body.

The rapid adoption of novel therapies, such as chemotherapy, in oncology has been reported to provide better treatment options for breast, lung, and prostate cancers. Similarly, the area of precision and personalized medicine (PPM) is developed to make therapies for a single patient or specific groups based on data that captures current and past physical health and environmental experience. Recently, several reports show that the assimilation of PPM viewpoint into cancer research and treatment will result in significant enhancements in fighting cancer, mainly due to its complexity and interpatient unpredictability.

Several manufactures offer automated compounding systems toward chemotherapy and personalized medicines. For instance, Pharmoduct (Comecer) is an automated device used for the sterilized preparation of personalized oncology drugs, which includes chemotherapy and biologicals.

The report segments the global automated compounding systems market as follows:

By Product Type

Gravimetric Automated Compounding Systems
Volumetric Automated Compounding Systems

By End User

Hospitals
Chemotherapy Centers
Others

By Geography

North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Italy
Spain
Asia Pacific (APAC)
Japan
China
India
Australia
South Korea
Middle East & Africa (MEA)
South Africa
UAE
Saudi Arabia
South & Central America (SCAM)
Brazil
Argentina

Purchase a Copy of this Report @ https://www.theinsightpartners.com/buy/TIPRE00010169/?openpr-10225

Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

This release was published on openPR.