Published: Apr, 2017
The marginal product differentiation makes the global pharmacy repackaging systems market highly competitive, as noted by a recent research report by Transparency Market Research (TMR). Despite tough grounds, top players such as Swisslog Holding AG and Omnicell Inc. held a share of almost 34% in the overall market in 2015. Companies are focused on expanding their geographical presence by serving the specific needs of regional and local markets.
According to the market study, the global pharmacy repackaging systems market is expected to reach a valuation of US$1.8 bn by 2024 increasing from US$997.1 mn in 2015 at a CAGR of 7.8% therein.
Well-established Infrastructure Positions North America as Frontrunner in Global Market
Geography-wise, North America is currently the leading regional market for pharmacy repackaging systems and is expected to stay dominant in the coming years as well. The dominance of the region is due to the mounting demand for pharmacy repackaging systems from pharmacies and hospitals; the region is expected to account for a share of 35.5% in the global market by 2024. Moreover, favorable reimbursement programs is expected to increase the demand for these technologies in the region in the coming years. Countries in North America are expeditiously advancing towards technology-driven medication management systems. This, in turn, is expected to fuel the demand for repackaging systems to serve the basic requirement of customized dosage across a host of end users.
The end users of the global pharmacy repackaging systems market are retail/community, hospital pharmacy, pharmacy, mail order pharmacies, and long-term care pharmacies. The blister card/compliance packaging systems product segment is expected to dominate the global market over the forecast period. This is due to the ability of this packaging to reduce dosage wastage as it enables pharmacies to repack medicines based on the needs of patients. Blister card/compliance packaging systems also safeguard compliance to dosage owing to utmost precision maintained during packaging.
Mounting Pressure to Adopt Patient Safety Measures Boost Global Pharmacy Repackaging Systems Market
The persistent efforts to reduce medication errors is the top most factor driving the global pharmacy repackaging systems market. Stringent regulations in place demand hospitals, pharmacies, and healthcare institutions to reduce medication errors that not only is cost-intensive but can be fatal as well. Rising pressure for adequate patient safety measures has stirred the demand for technology-driven patient care to minimize errors at various stages of treatment. The rising awareness regarding efficient inventory management employing automated technologies is also expected to favor the market’s growth in the coming years.
However, high cost involved in replacing conventional drug dispensing systems with technological solutions is a key factor restraining the market’s growth. Furthermore, lack of awareness, especially in developing countries, how automated systems can benefit in terms of patient safety is restraining the market’s growth. In developing regions, low budgets of healthcare institutes and lack of knowledge refrain them from making investments that are beneficial in the long run.
The review presented is based on the findings of Transparency Market Research report, titled “Pharmacy Repackaging Systems Market (Product - Blister Card/Compliance Packaging Systems (Multi Dose Blister Card Packaging Systems, Single Dose Blister Card Packaging Systems, Heat Sealers, and Deblisters Machines), Pouch Packaging Automation Systems (Automatic Tablet Packager and Pouch Verification System), Bottle Filling/ Pill Counting Automation Systems (Automated Bottle Filler and Pill Counter), and Liquid Medication Packaging Systems (Oral Liquid Filling Syrup and Automated Vial Filling Pump) ; End User - Retail/Community Pharmacy, Hospital Pharmacy, Long-term Care (LTC) Pharmacies, and Mail Order Pharmacies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
The global pharmacy repackaging systems market is segmented as follows:
Global Pharmacy repackaging systems Market, by Product type
- Blister Card/Compliance Packaging Systems
- Multi Dose Blister Card Packaging Systems
- Single Dose Blister Card Packaging Systems
- Heat Sealers
- Deblistering Machines
- Pouch Packaging Automation Systems
- Automatic Tablet Packager
- Pouch Verification System
- Bottle Filling/ Pill Counting Automation Systems
- Automated Bottle Filler
- Pill Counter
- Liquid Medication Packaging Systems
- Oral Liquid Filling Pump
- Automated Vial Filling Pump
Global Pharmacy repackaging systems Market, by End-user
- Retail/Community Pharmacy
- Hospital Pharmacy
- Outpatient pharmacy
- Inpatient Pharmacy
- Long-term care (LTC) pharmacies
- Mail order Pharmacies
Global Pharmacy repackaging systems Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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