Automated Compounding Devices Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Automated Compounding Devices Market

Global Automated Compounding Devices Market Set to Surge with High CAGR Forecasted for 2024-2031

The global market for Automated Compounding Devices (ACDs) is poised to experience substantial growth, anticipating a high Compound Annual Growth Rate (CAGR) during the forecast period spanning 2024 to 2031.

Automated Compounding Devices, also recognized as Pharmacy Automation Systems, play a pivotal role in healthcare settings, particularly in pharmacies and hospitals, where they are utilized to manufacture specialized drugs and intravenous (IV) solutions. These innovative machines have revolutionized drug production, ensuring accuracy, safety, and efficiency in the manufacturing process.

In hospital and healthcare facilities, ACDs are frequently employed for the production of IV medicines and solutions. These devices meticulously measure and combine medications, ensuring precise dosage and minimizing the risk of contamination. Notably, ACDs are instrumental in crafting Total Parenteral Nutrition (TPN) solutions, personalized combinations of nutrients and drugs for patients unable to receive nutrition orally or enterally. ACDs guarantee the accuracy and sterility of these intricate formulations.

Automated Compounding Devices Market Overview

Metrics

CAGR: High
Size Available for Years: 2021-2030
Forecast Period: 2024-2031
Data Availability: Value (US$)
Segments Covered

Product Type
Technology
Component
Mode of Operation
End-User
Region
Regions Covered

North America
Europe
Asia-Pacific
South America
Middle East & Africa
Fastest Growing Region: Asia-Pacific

Largest Region: North America

Report Insights Covered

Competitive Landscape Analysis
Company Profile Analysis
Market Size, Share, Growth
Demand, Recent Developments
Mergers and Acquisitions
New Product Launches
Growth Strategies
Revenue Analysis
Porter's Analysis
Pricing Analysis
Regulatory Analysis
Supply-Chain Analysis
Other key Insights

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Automated Compounding Devices Market Dynamics

Technological Advancements in Automated Compounding Devices

The market dynamics are driven by continuous technological advancements in Automated Compounding Devices, aiming to enhance patient safety, streamline pharmacy operations, and meet evolving healthcare needs. Notable developments include the upcoming release of the ExactaMix Pro Automated Compounder by Baxter International Inc. in early 2023, offering enhanced security, user-friendly features, and increased processing power compared to its predecessor, ExactaMix.

Additionally, Omnicell, Inc. introduced the IVX Station in March 2022, a groundbreaking approach to extend the benefits of IV robotic technology to a wider audience. These advancements, coupled with the reduction of medication waste through precise preparation, contribute to the cost-saving potential of ACDs.

Market Dynamics: Restraint

While ACDs offer numerous advantages for healthcare settings, there are challenges in implementation. Factors such as reliance on pre-filled drug vials or cartridges leading to potential drug shortages and ongoing maintenance costs may hinder widespread adoption.

Automated Compounding Devices Market Segment Analysis

Intravenous (IV) Compounding Systems Segment Dominates Market Share

The market is segmented based on product type, technology, component, mode of operation, end-user, and region. The Intravenous (IV) compounding systems segment accounts for approximately 39.7% of automated compounding devices market share. This segment plays a crucial role in enhancing patient safety, drug delivery, and overall standard of care.

Automated Compounding Devices Market Geographical Share

North America Leads with Widespread Acceptance of ACDs

North America maintains its dominance in the market due to the presence of major pharmaceutical industries and a healthcare system prioritizing patient safety. The United States, in particular, exhibits a culture of early adoption of medical technology, contributing to the widespread acceptance and utilization of ACDs in healthcare settings.

COVID-19 Impact Analysis

The COVID-19 pandemic has positively impacted the demand for Automated Compounding Devices, with a heightened emphasis on sterile compounding for drugs and IV solutions crucial in critical care. ACDs, known for ensuring sterility and precision, played a vital role in meeting this demand, highlighting their significance in pharmaceutical safety.

Automated Compounding Devices Market Companies

Key Global Players

Grifols, S.A
Baxter International Inc
COMECER S.p.A.
ARxIUM
ICU Medical, Inc
Omnicell, Inc
EQUASHIELD
B. Braun Medical Inc.
BECTON, DICKINSON AND COMPANY
SMARTCOMPOUNDERS B.V.

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