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The market for medical repackaging is an intricate one that is motivated by different market drivers that ultimately determine its expansion and move within the marketplace. And the main factor here is the growing global interest for medical products and medical care. With the population growth and aging, the demand for drugs increases due to stricter demands for the drugs and faster and efficiency processes. As in this particular case, the repackaging systems of pharmacies are the commodities meeting medication dispensing or packaging needs and making medicines have proper labeling. Besides the above-mentioned reasons the mount of chronic illnesses, which subsequently results in the need of constant access to the drugs, that can be solved by the introduction of highly-accurate dosing repackaging systems, is also among the market's expansion contributors.
The role of technological advances as a crucial factor of the market is yet to be forgotten. Through the passage of time, there is increase in innovations in the fields of pharmacy repackaging systems like automation and robotics which brings out more efficiency and reduces the risk of mistakes while dealing with drugs dispensing. The technologies in these advancements not only handle the growing demand for pharmaceuticals but also care for the complexities that arise in drug production. Those systems not only enable manufacturers to improve inventory management, traceability, and compliance with regulations, but they also become an essential tool for drug handling in modern healthcare settings.
Corresponding to the regulations can be a serious challenge for the Pharmacy Repackaging Institutions as well as they have to be in compliance with the standards. The pharmaceutical industry is very restricted with dialog control to make sure that the patients security and the quality of the products. It Is Compulsory By Manufacturers And Healthcare Facilities Use repackaging obtains authorization of these standard companies, in this case, have to go through which can be head scratching because of its intricate web of regulations that consists of the FDA Good Manufacturing Practice(GMP) guidelines and quality control standards. Even compliance with these laws is not only a legal term, but also a component that builds up both the market reputation and also customer confidence.
Lastly, the economic system which helps to push the growth of the Pharmacy Repackaging Systems Market is another factor that determines the market. The spending of healthcare within the hospital and government systems that are budget heavy affects significant use of these systems. The affordability of the repacking investments, and their success in lowering overall healthcare spending through the reduction of medicines errors and waste, make them an inviting investment for healthcare providers. Moreover, patients' payment policies and insurance coverage extend the range of the problems. As such, healthcare facilities and pharmacies are being challenged thus affecting their decisions on adopting repackaging systems.
Globalisation has turned out to be one of the market factors which cannot be ignored by any means. The interdependent nature of the pharmaceutical supply chain at the global level demands adaptation to universal standards and requirements on the repackaging units worldwide. International pharmaceutical companies are seeking mechanisms that facilitate smooth operations across borders and constant modification to diverse legislations and packing specifications.
Pharmacy Repackaging Systems Market Highlights:
Pharmacy Repackaging Systems Market Overview
Pharmacy Repackaging Systems Market Size was valued at USD 2345.10 million in 2022. The Pharmacy Repackaging Systems industry is projected to grow from USD 2502.22 million in 2023 to USD 4635.85 million by 2032, exhibiting a compound annual growth rate (CAGR) of 7.1% during the forecast period (2023 - 2032).
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.
Segmentation
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.August 2023: A major pharmaceutical company partnered with a repackaging solutions provider to offer unit-dose repackaging services for specialty medications. This collaboration indicates a potential expansion of the market into the high-growth segment of specialty drugs.July 2023: A leading provider of pharmacy automation solutions announced a new line of repackaging systems designed to improve efficiency and medication adherence. This launch highlights the growing trend towards automation in the pharmacy repackaging market.
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
- Solid Medication Packaging Systems
- Blister Card Packaging Systems
- Multi Dose Blister Card Packaging Systems
- Single Dose Blister Card Packaging Systems
- Heat Sealers
- Pouch Packaging Automation Systems
- Liquid Medication Packaging Systems
- Oral Liquid Filling System
- Vial Filling System
- Syringe Filling System
- Bottle Filling/ Pill Counting Automation Systems
- Others
Pharmacy repackaging systems Market, by Dosage type
- Unit Dose Packaging
- Multiple Unit Packaging
Pharmacy repackaging systems Market, by End User
- Retail/Community Pharmacy
- Hospital Pharmacy
- Outpatient Pharmacy
- Inpatient Pharmacy
- Long-term Care (LTC) Pharmacies
- Others
Pharmacy repackaging systems Market, by Region
- Americas
- North America
- US
- Canada
- Latin America
- Europe
- Western Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Western Europe
- Eastern Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- The Middle East & Africa
- Middle East
- Africa
Pharmacy repackaging systems Market, Key Players
- Arxium
- Becton Dickinson & Company (Carefusion Corporation)
- Kirby Lester
- Medical Packaging Inc
- Omnicell, Inc
- Parata Systems
- Pearson Medical Technologies
- Proficient Rx
- Swisslog Holding Ltd
- Takazono Corp
- Tcgrx
- Yuyama Co., Ltd
Intended Audience
- Medical device companies
- Pharmaceutical companies
- Government institutions
- Research and Development (R&D) companies
- Medical research laboratories
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