The pharmacy repackaging systems market is projected to grow significantly over the forecast period. It is estimated that the pharmacy repackaging systems market is expected to register a CAGR of ~7% during the forecast period of 2018–2023.
The pharmaceutical repackaging is act of transferring the pharmaceutical dosage from primary container (manufacturer) and introducing it into another container which is usually smaller in size.
The repackaging systems are rapidly growing owing to the factors such as significant reduction in cost and errors, advance drug inventory management, and rise in awareness of automated systems in developed economies are driving growth of market globally. Further, the increasing cases of erroneous deaths because of the improper administration of the medicines and drugs is expected to drive the growth of the market.
Moreover, the absence of awareness about the potential advantages these computerized systems can offer in a few regional markets has been a critical inhibitor. Besides, major companies in the market are involved in new product launches to strengthen their position in the market.
The pharmacy repackaging systems market is segmented on the basis of product type, dosage type, and end user.
The market, by product type is categorised into solid medication packaging systems, liquid medication packaging systems, bottle filling/ pill counting automation systems, and others. The solid medication packaging systems is further divided into blister card packaging systems, and pouch packaging automation systems. The blister card packaging systems is further divided into multi dose blister card packaging systems, single dose blister card packaging systems, and heat sealers. The liquid medication packaging systems is further divided into oral liquid filling system, vial filling system, and syringe filling system.
Based on dosage type, the market of pharmacy repackaging systems is segmented into unit dose packaging and multiple unit packaging.
On the basis of end user, the market is segmented into retail/community pharmacy, hospital pharmacy, Long-term Care (LTC) pharmacies, and others. The hospital pharmacy is further segmented into Outpatient Pharmacy, and Inpatient Pharmacy.
On the basis of region, the pharmacy repackaging systems market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas is sub-segmented into North America and Latin America. The North American region is further segmented into the US and Canada. The European region is divided into two, namely, Western Europe and Eastern Europe. Western Europe is further classified into Germany, Italy, France, the UK, Spain, and the rest of Western Europe. The Asia-Pacific region is sub-segmented into Japan, China, India, Australia, South Korea, and the rest of Asia-Pacific. The pharmacy repackaging systems market in the Middle East and Africa has been segmented into the Middle East and Africa.
Regional Market Summary
Global Pharmacy Repackaging Systems Market Share (%), by Region, 2017
Sources: Centers for Disease Control and Prevention (CDC), US Department of Health and Human Services, National Institutes of Health
It is projected that the Americas dominated the pharmacy repackaging systems market owing to the growth of the market in the North American region. This is largely attributed to the factors such as rising number of outpatient visits that encourages pharmacists and hospitals to incorporate automated systems in order to improve their prescription-handling capacity.
Europe is expected to hold the second largest share in the market of pharmacy repackaging systems owing to growing healthcare infrastructure. Additionally, various initiatives by public and private organizations is anticipated to boost the growth of the market.
Asia-Pacific was projected to be the fastest growing region for the pharmacy repackaging systems market. This owes to the technological advancements resulting in the development of cost-effective pharmacy repackaging systems leading to high acceptance rate for the devices in the Asia-Pacific region.
The Middle East and Africa holds the least share in the pharmacy repackaging systems market due to the presence of economically diverse countries, and less initiatives taken by the government.
Pharmacy repackaging systems Market, by Product type
Pharmacy repackaging systems Market, by Dosage type
Pharmacy repackaging systems Market, by End User
Pharmacy repackaging systems Market, by Region
Pharmacy repackaging systems Market, Key Players
Pharmacy repackaging market is expected to exhibit a strong 7% CAGR over the forecast period from 2018 to 2023.
The major driver for the pharmacy repackaging market is the increasing awareness about the benefits of pharmacy repackaging systems such as minimized costs and errors.
The lack of awareness about pharmacy repackaging in underdeveloped parts of the world is the major restraint on the global pharmacy repackaging market.
Leading players in the pharmacy repackaging market include Arxium, Kirby Lester, Omnicell Inc., Parata Systems, Becton Dickinson and Company, and Pearson Medical Technologies, among others.
The Americas is the dominant regional segment of the global pharmacy repackaging market.