Dublin, Nov. 15, 2024 (GLOBE NEWSWIRE) -- The "Automated Compounding Devices Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
This automated compounding devices market report covers industry characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.
North America was the largest region in the automated compounding devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The automated compounding devices market size has grown strongly in recent years. It will grow from $2.2 billion in 2023 to $2.36 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth during the historic period can be attributed to several factors including the increasing prevalence of chronic diseases, an aging population, the expansion of healthcare infrastructure, regulatory requirements, and a rise in medication errors.
The automated compounding devices market size is expected to see strong growth in the next few years. It will grow to $3.12 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth during the forecast period can be attributed to several factors including the rising prevalence of cancer, global expansion of healthcare, increased emphasis on patient safety, regulatory support, and a growing focus on sustainability. Key trends expected in the forecast period include telemedicine, remote healthcare, advancements in artificial intelligence, healthcare digitalization, and real-time monitoring.
The growing prevalence of personalized medicines is expected to drive the expansion of the automated compounding devices market in the future. For example, in February 2024, according to the Personalized Medicine Coalition, a US-based non-profit organization, reported that the FDA approved 16 new personalized therapies for rare diseases in 2023, up from six in 2022. Thus, the rise in personalized medicines is fueling the growth of the automated compounding devices market.
Major players in the automated compounding device market are concentrating on reducing medication errors and enhancing patient safety through advanced technologies, such as robotic compounding systems, to build customer trust, ensure regulatory compliance, and achieve a competitive edge.
Report Scope
Markets Covered:
1) by Component: Automated Compounding Systems Equipment; Automated Compounding Systems Software
2) by Product Type: Intravenous Compounding Systems; Oral Compounding Systems; Total Parenteral Nutrition (TPN) Compounding Systems
3) by Mode of Operation: Fully Automated Compounding Systems; Semi-Automated Compounding Systems
4) by End-User: Hospitals; Ambulatory Surgical Centers; Other End Users
Key Companies Profiled in this Automated Compounding Devices Market Report: McKesson Corporation; Amerisource Bergen Corporation; Medtronic PLC; Becton Dickinson and Company; Baxter International Inc.
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $2.36 Billion |
| Forecasted Market Value (USD) by 2028 | $3.12 Billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
Other major companies featured in the report:
- B. Braun Melsungen AG
- Fresenius Kabi AG
- Grifols International SA
- Terumo Corporation
- ICU Medical Inc.
- Omnicell Inc.
- Tecan Group Ltd.
- Cantel Medical Corp.
- Fagron N.V.
- Swisslog Healthcare
- ScriptPro LLC
- PharMEDium Services LLC
- Loccioni Group S.p.A.
- ARxIUM Inc.
- Codonics Inc.
- Apexus Inc.
- Equashield LLC
- Yuyama Mfg Co. Ltd.
- Shanghai Weibond Technology Co. Ltd.
- Quirem Medical B.V.
For more information about this report visit https://www.researchandmarkets.com/r/rjlv9d
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