Pharmacy Repackaging Systems Market 2024: Size and Growth Analysis

The Business Research Company recently released a comprehensive report on the Global Pharmacy Repackaging Systems Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, the pharmacy repackaging systems market size has grown strongly in recent years. It will grow from $1.98 billion in 2023 to $2.17 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to rising awareness of automated systems, increasing cost savings achieved in hospital pharmacies, the growing need for improved dosage accuracy, rising patient adherence to better medication, and the increasing adoption of blister card packaging systems.

The pharmacy repackaging systems market size is expected to see strong growth in the next few years. It will grow to $3.14 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to increasing adoption of pharmacy automation, the growing need to reduce medication errors, rising demand for efficient and cost-effective medication management solutions, the growing need for customized packaging solutions, and the increasing prevalence of chronic diseases. Major trends in the forecast period include the integration of hyper-automation with robotics, multi-compartment pouches for personalized regimens, a rise in ecological packaging solutions, product innovations, and collaborations between pharmacies.

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Market Drivers and Trends:

The rising prevalence of chronic diseases is expected to propel the growth of the pharmacy repackaging systems market going forward. Chronic diseases refer to long-term medical conditions that are generally progressive and persistent, often lasting for a year or more and requiring ongoing medical attention or limiting daily activities. The rising prevalence of chronic diseases is primarily due to an aging population, lifestyle changes such as poor diet and physical inactivity, increasing urbanization, and associated environmental factors. Pharmacy repackaging systems are essential for chronic diseases as they facilitate accurate medication management, improve adherence, and enhance patient safety through efficient dispensing into patient-specific doses. For instance, in January 2023, according to the National Institutes of Health, a US-based government agency, the number of individuals with at least one chronic disease is projected to rise by 99.5%, from 71.522 million in 2020 to 142.66 million by 2050. Therefore, the rising prevalence of chronic diseases is driving the growth of the pharmacy repackaging systems market.

Major companies operating in the pharmacy repackaging systems market are focusing on expanding their facilities through automated repackaging systems to meet the growing demand for accurate medication management in healthcare facilities worldwide. Automated repackaging systems are advanced machines designed to efficiently and accurately package medications into various formats, reducing human error and increasing productivity. For instance, in June 2024, MEDISCA Plattsburgh, a US-based pharmaceutical compounding company, opened a new pharmaceutical repackaging facility to meet the growing demands for personalized medicine. This facility enhances Medisca's capabilities in offering customized medication repackaging services with state-of-the-art equipment for precise dosage measurement and advanced labeling technology for accuracy and compliance. It will enable Medisca to provide high-quality, customized pharmaceutical solutions to its global customer base, ensuring timely delivery and adherence to regulatory standards. The facility is designed with custom-tailored, ISO-rated production rooms and advanced warehouse management systems for end-to-end traceability, ensuring high-quality products and personnel safety.

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Major Key Players of the Market:

McKesson Corporation; Becton Dickinson & Company; Baxter International Inc.; Syntegon Technology GmbH; Omnicell Inc.; ACG Worldwide; Swisslog Holding Ltd.; Scriptpro LLC; Capsa Healthcare; Dossier Systems; Healthmark; ARxIUM; Fulcrum Inc.; Yuyama Co. Ltd.; Kirby Lester; Medical Packaging inc. LLC; RxSafe LLC; Deenova S.r.l.; Meditec; Noritsu Pharmacy Automation; Pearson Medical Technologies; Takazono Corporation

Pharmacy Repackaging Systems Market 2024 Key Insights:

• The pharmacy repackaging systems market size is expected to grow to $3.14 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
• Impact Of Rising Chronic Disease Prevalence On Pharmacy Repackaging Systems Market
• Medisca's Expansion Of Facilities To Support Automated Repackaging Systems
• North America was the largest region in the pharmacy repackaging systems market in 2023

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