According to the latest market report published by Credence Research, Inc. “Pharmacy Repackaging Systems Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global Pharmacy Repackaging Systems market was valued at US$ 1,067.3 Mn in 2016, and is expected to reach US$ 2,038.9 Mn by 2025, expanding at a CAGR of 7.5% from 2017 to 2025.
Browse the full report Pharmacy Repackaging Systems Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 at http://www.credenceresearch.com/report/pharmacy-repackaging-systems-market
Pharmaceutical repackaging is act of removing pharmaceutical dosage from manufacturer’s primary container and placing it into another primary container, usually of smaller size. Pharmacy repackaging systems is rapidly growing due to factors such as improve drug inventory management, significant reduction in cost, reduced errors and increase in awareness of automated systems in developed economies are driving growth of pharmacy repackaging systems market globally. For the purpose of study, global pharmacy repackaging systems market is segmented on the basis of product type such as solid medication packaging systems and liquid medication packaging systems. It is observed that, in the base year 2016, solid medication packaging systems held largest market share due to improve patient adherence by clearly organizing and labeling multiple medications. Blister card packaging systems are most widely accepted in market because it allows easier administration of different dosage and reduced dispensing errors. On the basis of dosage type Pharmacy repackaging systems market is categorized as unit dose packaging, multiple unit packaging. Currently, unit dose packaging is major revenue contributing segment as it is preferred method of drug distribution in many hospitals and pharmacy stores. Pharmacy repackaging systems market is currently dominated by North America, because stringent regulations for medication management and higher demand for pharmacy automation by hospitals and pharmacies are driving the growth in North America.
Market Competition Assessment:
The pharmacy repackaging systems market is observed to be highly competitive and comprises large number of players. However, the market is currently dominated by few players such as 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. and other.
Key Market Movements:
- Factors such as increased awareness about automated pharmacies in some countries, drug inventory management is improved due to use of unit dose packaging operations and increased demand for unit dose packaging in some hospitals, pharmacies and long-term care facilities are driving the growth of pharmacy repackaging systems market worldwide.
- However, some factors such as additional time and training required to repackage drugs, higher cost of repackaging equipment and restricted use of automated pharmacies in some developing countries may hinder the market growth of pharmacy repackaging systems worldwide.