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Automated Compounding Devices Market worth $4.69 billion by 2030, growing at a CAGR of 10.52% - Exclusive Report by 360iResearch
Automated Compounding Devices Market | 360iResearch
The Global Automated Compounding Devices Market to grow from USD 2.32 billion in 2023 to USD 4.69 billion by 2030, at a CAGR of 10.52%.
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The automated compounding devices are designed to prepare medications for dispensing in healthcare settings. These devices automate the process of mixing, diluting, and assembling drugs in various dosages with a high degree of precision and safety. Automated compounding devices are widely used in several areas such as oncology (for chemotherapy drug preparation), total parenteral nutrition (TPN), and high-volume workloads often found in centralized compounding facilities. The end users primarily include hospital pharmacies, compounding pharmacies, and ambulatory services due to their need for efficient and safe preparation of medications in sterile environments. Increased medication needs to manage rising incidences of chronic diseases, along with the rising focus on personalized medicine, fuels demand for more compounded medications. Additionally, the growing importance of improving pharmacological safety standards in healthcare settings incentivizes the adoption of automated compounding devices. High costs associated with the installation and maintenance of automated compounding systems hamper the growth of the automated compounding devices market. The need for skilled professionals to operate these advanced devices further complicates the implementation of automated compounding devices. Growing research and innovation directed toward creating scalable machine models that cater to varying sizes of operations, from small clinics to large hospitals, are expected to create opportunities for market growth. Furthermore, investing in research for materials that are more durable and easy to clean could aid in meeting stringent hygiene and sterility requirements.
The market for automated compounding devices in the Americas is highly influenced by the healthcare infrastructure and regulatory environment in the United States and Canada. The increasing prevalence of chronic diseases, coupled with a push towards healthcare automation to enable precision and safety in medication dispensing, fuels the need for automated compounding systems. In the European Union, the market is driven by stringent regulations on medication preparation, a focus on reducing healthcare costs, and increasing adoption of technology in pharmacies and hospitals. Countries such as Germany, France, the UK, and Italy are at the forefront of adopting these devices, aiming to improve the quality of care and patient safety. The EU's interest in standardizing pharmaceutical practices across member states augments the implementation of automated compounding devices and fosters cross-border research and development initiatives. The Asia Pacific region, including countries such as China, Japan, and India, presents a promising growth opportunity for the automated compounding devices market. This region's market dynamics are driven by rapidly developing healthcare infrastructure, increasing healthcare expenditure, and a growing focus on medication safety.
Market Segmentation & Coverage:
This research report categorizes the Automated Compounding Devices Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Component, market is studied across ACD Equipment and ACD Software. The ACD Software is projected to witness significant market share during forecast period.
Based on Product Type, market is studied across Intravenous Compounding Systems, Oral Compounding Systems, and TPN Compounding Systems. The Oral Compounding Systems is projected to witness significant market share during forecast period.
Based on Application, market is studied across Antibiotic Compounding, Chemotherapy Compounding, and Nutrient Compounding. The Antibiotic Compounding is projected to witness significant market share during forecast period.
Based on End-User, market is studied across Ambulatory Surgical Centers, Hospitals, and Pharmacies. The Pharmacies is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 37.03% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Automated Compounding Devices Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Automated Compounding Devices Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Automated Compounding Devices Market, highlighting leading vendors and their innovative profiles. These include Amerisource Bergen Corporation, ARxIUM Inc., B. Braun SE, Baxter Healthcare Corporation, Becton, Dickinson and Company, Cantel Medical Corp., CapsulCN International Co., Ltd., Codonics Inc., Fagron N.V., ForHealth Technologies, Fresenius Kabi AG, Grifols International S.A., Health Robotics SRL, Loccioni Group, McKesson Corporation, Meditecno S.r.l., Medtronic PLC, Omnicell, Inc., Quirem Medical B.V., ScriptPro LLC, Talyst LLC, Tecan Group Ltd., Terumo Corporation, and Yuyama Co., Ltd..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Automated Compounding Devices Market, by Component
7. Automated Compounding Devices Market, by Product Type
8. Automated Compounding Devices Market, by Application
9. Automated Compounding Devices Market, by End-User
10. Americas Automated Compounding Devices Market
11. Asia-Pacific Automated Compounding Devices Market
12. Europe, Middle East & Africa Automated Compounding Devices Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Automated Compounding Devices Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Automated Compounding Devices Market?
3. What is the competitive strategic window for opportunities in the Automated Compounding Devices Market?
4. What are the technology trends and regulatory frameworks in the Automated Compounding Devices Market?
5. What is the market share of the leading vendors in the Automated Compounding Devices Market?
6. What modes and strategic moves are considered suitable for entering the Automated Compounding Devices Market?
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