Dublin, Feb. 23, 2024 (GLOBE NEWSWIRE) -- The "Automated Compounding Device (Oncology) Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The Global Automated Compounding Device (Oncology) Market is charting a progressive growth path with an anticipated robust compound annual growth rate (CAGR) of 7.56% through 2028.
The industry's expansion is being driven by a confluence of factors including technological advancements, heightened demand for precise and personalized medication within oncology, and the surging prevalence of cancer worldwide. With the advent of precise medicinal practices, such as precision medicine, the market is observing substantial momentum.
The precision medical approach necessitates a high degree of specificity in medication compounding – a critical operational area where automated compounding devices excel. Enhanced patient safety and medication accuracy, facilitated by these devices, are pivotal considerations propelling market growth.
Despite remarkable progress, the Global Automated Compounding Device (Oncology) Market faces challenges, including considerable initial capital investments for the integration of advanced compounding technologies and the need for extensive training and education for healthcare professionals.
Technological Integration Catalyzing Market Dynamics
The market is experiencing a shift with the integration of robotics and artificial intelligence (AI), which are enriching the capabilities of automated compounding devices. Robotic systems, empowered with AI, are revolutionizing the compounding process by delivering exceptional accuracy, safety, and learning capabilities. Connectivity and interoperability are additional trends influencing the market's trajectory. The seamless integration of these devices with other critical healthcare systems aids in propelling efficient, error-free preparation of oncology medications.
Segmental Insights Indicate Diverse Market Opportunities
In terms of technology, Volumetric Compounding Systems are gaining prominence and are expected to see significant growth within the forecast period. Moreover, hospitals, as the primary end users of these systems, are set to continue their dominance in the market, employing automated compounding devices to improve patient care and conform to regulatory compliance in oncological treatments.
Regional Market Forecasts Point to North American Dominance
Regionally, the North American market has been the front-runner due to its robust healthcare infrastructure, regulatory environment, and swift adoption of advanced technologies. The region is gearing up to maintain and even strengthen its position in the market through ongoing research, development, and innovation.
- Technological Insights: Volumetric Compounding Systems Display Impressive Growth
- End User Insights: Hospitals Steer Market Growth with Increased Adoption
- Regional Insights: North America's Position as a Market Leader Reaffirmed
The market report provides a comprehensive analysis of these trends, alongside detailed segments on technology, end users, and regional market performances.
Company Profiles and Competitive Landscape
The report includes thorough profiles of key market players, delving into their strategies, offerings, and competitive positioning. Such insights are valuable for stakeholders to understand the market dynamics and identify potential opportunities for growth and collaboration.
This latest market research publication is a significant resource for those seeking to explore the intricacies of the Global Automated Compounding Device (Oncology) Market, understand the current landscape, identify growth opportunities, and make informed decisions in the ever-evolving field of oncology drug preparation.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $300.19 Million |
| Forecasted Market Value (USD) by 2028 | $461.76 Million |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
Report Scope:
In this report, the Global Automated Compounding Device (Oncology) Market has been segmented into the following categories:
Automated Compounding Device (Oncology) Market, By Technology:
- Gravimetric Compounding System
- Volumetric Compounding System
Automated Compounding Device (Oncology) Market, By End User:
- Hospitals
- Chemotherapy Centers
- Others
A selection of companies mentioned in this report includes
- Baxter International Inc.
- B. Braun SE.
- COMECER S.p.A.
- ARxIUM Inc.
- Omnicell Inc.
- Grifols, S.A.
- Weibond Technology
- Equashield LLC.
- ICU Medical, Inc
- NewIcon Oy
For more information about this report visit https://www.researchandmarkets.com/r/ldj6dt
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