Pune, India, May 2020, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Dispensing Pharmacy Packaging Machine Market.
The global market for dispensing pharmacy packaging machine is expected to be valued at USD 2.31 Billion by 2025, with a 7.5% CAGR during the forecast period of 2019 to 2025.
The report covers segmentation and drivers for a better glimpse of the market in the coming years. Dispensing pharmacy packaging machines are used to improve efficiency and patient safety and are widely used in many hospitals and pharmacies. Multiple dosages can be dispensed at the time by using these machines. The dispensing pharmacy packaging machines are equipped with several features, including controller screens and dedicated filling terminals for preventing filling errors and improving efficiency while preparing specified drug doses.
The operation of the systems in the dispensing pharmacy packaging machine is entirely dependent on the quality of raw materials and components. The components that are required for manufacturing dispensing pharmacy packaging machines are generally technologically advanced components that define their highly advanced capabilities. Any variation in the raw material and component supply side would lead to either a positive or a negative impact on the product quality.
Some of the key industry participants in the global dispensing pharmacy packaging machine market are TOSHO Inc., Takazono Corporation, Canon Lifecare Solutions Inc., Yung Chung machinery co., Ltd., and Nisshin Medical Device Co., Ltd. Other leading players operating in the global dispensing pharmacy packaging machine market are Futain Industry Trading Co. and Heqian industry co., Ltd.
Takazono Corporation is engaged in manufacturing healthcare and surgical products aiding patients and healthcare service providers across Japan, China, and the US. The company has a three-dimensional business model, which is based on technology, solution, and quality & service. The company has a vertical business model, which includes planning, development, manufacturing, and sales of medical machines and equipment.
Yuyama Co., Ltd is one of the leading surgical and medical instrument manufacturers in Japan and across the globe. It has a presence in Japan, China, and the US. The company also has a wide sales and distribution network across the world. It is engaged in producing automated dispensing and packaging machines with a range of specifications for healthcare applications. The company has strong business backing, which aids in substantial investments in research and development.
The global market for dispensing pharmacy packaging machine is segmented based on product type, speed, function, and region. By product type, the global market is segmented into fully automatic and semi-automatic. The semi-automatic segment is expected to register considerable growth in the global market during the forecast period.
Semi-automatic machines are used extensively in small pharmacies, commonly known as community pharmacies. These types of machines are lightweight, user-friendly, and cost-effective. These machines are widely used in countries in East Asia, such as Japan, China, and South Korea. Semi-automatic machines generally cater to unit dosages of specific medications that will positively influence the segment growth over the projected timeframe in the global market.
By speed, the global market is bifurcated into low-speed, standard speed, and high-speed. The low-speed segment is expected to account for a substantial share in the global dispensing pharmacy packaging machine market over the study timeframe. Machines that process less than 30 packages per minute are included in the low-speed segment. These machines are mostly used in small pharmacies, where in-patient and outpatient applications flow is slow. These factors will propel the segment growth in the global market.
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Geographic analysis of the dispensing pharmacy packaging machine market spans across North America, Asia-Pacific, Europe, the Middle East & Africa, and South America.
Asia-Pacific dominated the dispensing pharmacy packaging machine market share in 2018. China is the largest global manufacturing hub that is shifting from mass production to the production of high-quality goods, which enables economic growth. China’s increasing population and the growing medical needs create various opportunities for the pharmaceutical market players, which directly drives the dispensing pharmacy packaging machine market. China’s pharmaceutical industry is the second largest after the US. Increasing instances of human error result in the adoption of automatic powder dispensing machines in China. After the adoption, the error of the weighed powder is reduced to +/−0.2 g. The dispensing process is highly efficient and reaches the moving speed of 23.89 cm/s with the discharge speed up to 0.22 g/s. The dispensing system can improve the accuracy and efficiency of powder dispensing for Chinese medicine. Such adoption of automated dispensing systems in the pharmaceutical industry in the country adds to the growth of the market.
Europe is expected to register a substantial share in the dispensing pharmacy packaging machine market. With the high adoption of information technology in clinical services and the rapid rise in the number of patients, the demand for quality care is expected to have a positive impact on the demand for dispensing pharmacy packaging machines in countries such as the UK, France, and Italy. Increased concerns regarding health and safety and the increasing number of cases of medication errors are expected to drive the growth of the market in the rest of the European countries. The growing number of preventable adverse drug events in Europe is expected to drive the growth of the dispensing pharmacy packaging machine market.
In Germany, the use of automated dispensing machines can reduce personnel costs by an average of around 4.6% during the first 12 months after starting up and sales increased by an average of 6.8%. Pharmacy dispensing machines are used in community pharmacies for a wide range of goods to minimize human errors and save the packaging time. Warehouses in German community pharmacies usually contain over 8,000 to 10,000 different products. The growing use of dispensing pharmacy packaging machines has increased the adoption rate of these machines in Germany.