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Asia Pacific Automated Compounding Systems Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product Type; End User, and Country

  • ID: 5130825
  • Report
  • July 2020
  • Region: Asia Pacific
  • 94 pages
  • The Insight Partners
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until Jan 15th 2021
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FEATURED COMPANIES

  • ARxIUM
  • Baxter International Inc.
  • Grifols, S.A
  • NewIcon
  • Weibond Technology
  • MORE
The Asia Pacific automated compounding systems market is expected to reach US$ 123.70 million by 2027 from US$ 70.25 million in 2019. The market is estimated to grow with a CAGR of 7.5% from 2020 to 2027.

The automated compounding systems market is growing primarily due to the growing adoption of automated compounding systems in the pharmacies and hospitals and increasing need to reduce medication errorsin the Asia Pacific region. Restraining factors, such as high cost and reluctance to adopt automated compounding systems and COVID-19 pandemicare likely to damage the growth of the market in the coming years. Additionally, growing government support in developing countries and introduction of novel robotic technology automation in compounding systems are likely to increase the growth of the automated compounding systems market during the forecast period.

Automated compounding system is a device that combines one or more drug solutions to final container for patient administration. Automated compounding systems help avoid medication errors that occur due variety of factors such as poor management communication between the physician and pharmacist, critical storage practices in pharmacies, and confusion that was arising out of the use of similar labels. However, with the automated compounding systems, the accuracy as well as efficiency of dispensing compounded products have improved, and it has further reduced the exposure of healthcare professionals to toxic agents.

The increasing adoption and growing demand of automated solution in the pharmacies coupled with other socio-economic factor such as rising incidence of diseases and growing ageing population. The growing inclination of pharmacists for automation systems is mainly due to automated time consuming and routine tasks like medication compounding, storage, packaging, dispensing, and retrieval, etc., These systems can store and manage more than 200-300 medications and patients' information, in an effective and secure manner. Rise in adoption of automated systems is expected to ensure notable productivity and increase the number of prescriptions served by the pharmacy by reducing long-term operating cost.

For instance, General Icon, the joint venture of the two companies, started in spring 2018, and has now delivered automation systems to two hospitals operating in Shandong province in eastern China. A fully automated dispensing system has also been in demand - the first system was installed in a hospital in Beijing. The joint venture of the two health technology companies is committed to purchasing hundreds of NewIcon's pharmacy automation systems from 2018 to 2022. Potential customers include 1,300 suitable hospitals in China and Hong Kong. Thus, rising demand of automation system will drive the growth of this market in the review period.

Considering the geographic and economic operations between Asian countries and China, the countries are expected to witness challenge of COVID-19. Domestic start-ups backed by international funding have already started witnessing back out from investors putting the development of the products in jeopardy. Moreover, sluggish economy and affected supply chains are making it harder for the small companies to survive in the current crisis. These restrictive measures will definitely be anticipated to impact on medical device supply chain and availability of the devices in remote regions. Though the demand for medical devices such as fitness bands and health trackers are increasing due to effectiveness in health tracking, other domains are likely to get hampered due to shut downs.

In 2019, the gravimetric automated compounding systems segment accounted for the largest market share in the Asia Pacific automated compounding systems market. The growth of the gravimetric automated compounding systems is attributed toaccuracy provided by the systems, preference by the pharmacies and hospitals for the gravimetric systems, enormous commercial use of these systems in the market. Moreover, the gravimetric automated compounding systems segment is anticipated to drive the growth of this market during the forecast period.

Some of the significant secondary sources for Automated Compounding Systems market included in the

Reasons to Buy
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific automated compounding systems market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the North America automated compounding systems market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • ARxIUM
  • Baxter International Inc.
  • Grifols, S.A
  • NewIcon
  • Weibond Technology
  • MORE
1. Introduction
1.1 Study Scope
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Asia Pacific Automated Compounding Systems Market - By Product Type
1.3.2 Asia Pacific Automated Compounding Systems Market- By End User
1.3.3 Asia Pacific Automated Compounding Systems Market - By Country

2. Asia Pacific Automated Compounding Systems Market - Key Takeaways

3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Asia Pacific Automated Compounding Systems Market - Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Automated Compounding Systems Market - Asia Pacific PEST Analysis
4.3 Expert Opinion

5. Asia Pacific Automated Compounding Systems Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Growing Adoption of Automated Compounding Systems in the Pharmacies And Hospitals
5.1.2 Increasing Need to Reduce Medication Errors
5.2 Key Market Restraints
5.2.1 High Cost and Reluctance to Adopt Pharmacy Automation Systems
5.3 Key Market Opportunities
5.3.1 Growing Government Support in Developing Countries
5.4 Future Trends
5.4.1 Introduction of Novel Robotic Technology Automation in Compounding Systems
5.5 Impact Analysis

6. Automated Compounding Systems Market - Asia Pacific Analysis
6.1 Asia Pacific Automated Compounding Systems Market Revenue Forecasts and Analysis

7. Asia Pacific Automated Compounding Systems Market Analysis and Forecasts To 2027 - By Product Type
7.1 Overview
7.2 Asia Pacific Automated Compounding Systems Market, By Product Type 2019 & 2027 (%)
7.2.1 Asia Pacific Automated Compounding Systems Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
7.3 Gravimetric Automated Compounding Systems
7.3.1 Overview
7.3.2 Asia Pacific Gravimetric Automated Compounding Systems Market Revenue and Forecast to 2027 (US$ Mn)
7.4 Volumetric Automated Compounding Systems
7.4.1 Overview
7.4.2 Asia Pacific Volumetric Automated Compounding Systems Market Revenue and Forecasts to 2027 (US$ Mn)

8. Asia Pacific Automated Compounding Systems Market Analysis - By End-User
8.1 Overview
8.2 Asia Pacific Automated Compounding Systems Market, By End-User 2019-2027 (%)
8.2.1 Asia Pacific Automated Compounding Systems Market Revenue and Forecasts to 2027, By End-User (US$ Mn)
8.3 Hospitals
8.3.1 Overview
8.3.2 Asia Pacific Hospitals Market Revenue and Forecasts to 2027 (US$ Mn)
8.4 Chemotherapy Centers
8.4.1 Overview
8.4.2 Asia Pacific Chemotherapy Centers Market Revenue and Forecasts to 2027 (US$ Mn)
8.5 Others
8.5.1 Overview
8.5.2 Asia Pacific Others Market Revenue and Forecasts to 2027 (US$ Mn)

9. Automated Compounding Systems Market Revenue and Forecasts To 2027 - Geographical Analysis
9.1 Asia Pacific Automated Compounding Systems Market Revenue and Forecasts To 2027
9.1.1 Overview
9.1.2 Asia Pacific: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.3 Asia Pacific: Automated Compounding Systems Market - Volume and Forecast to 2027 (Units)
9.1.4 Asia Pacific Automated Compounding Systems Market, by Product Type - Revenue and Forecast to 2027 (USD Million)
9.1.5 Asia Pacific Automated Compounding Systems Market, by Product Type - Volume and Forecast to 2027 (Units)
9.1.6 Asia Pacific Automated Compounding Systems Market, by End User - Revenue and Forecast to 2027 (USD Million)
9.1.7 Asia Pacific: Automated Compounding Systems Market, by Country, 2019 & 2027 (%)
9.1.8 Japan: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.8.1 Japan: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.8.1.1 Japan Automated Compounding Systems Market, by Product Type - Revenue and Forecast to 2027 (USD Million
9.1.8.1.2 Japan Automated Compounding Systems Market, by End User - Revenue and Forecast to 2027 (USD Million)
9.1.9 China: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.9.1 China: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.9.1.1 China Automated Compounding Systems Market, by Product Type - Revenue and Forecast to 2027 (USD Million)
9.1.9.1.2 China Automated Compounding Systems Market, by End User - Revenue and Forecast to 2027 (USD Million)
9.1.10 India: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.10.1 India: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.10.1.1 India Automated Compounding Systems Market, by Product Type - Revenue and Forecast to 2027 (USD Million)
9.1.10.1.2 India Automated Compounding Systems Market, by End User - Revenue and Forecast to 2027 (USD Million)
9.1.11 South Korea: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.11.1 South Korea: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.11.1.1 South Korea Automated Compounding Systems Market, by Product Type - Revenue and Forecast to 2027 (USD Million)
9.1.11.1.2 South Korea Automated Compounding Systems Market, by End User - Revenue and Forecast to 2027 (USD Million)
9.1.12 Australia: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.12.1 Australia: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.12.1.1 Australia Automated Compounding Systems Market, by Product Type - Revenue and Forecast to 2027 (USD Million)
9.1.12.1.2 Australia Automated Compounding Systems Market, by End User - Revenue and Forecast to 2027 (USD Million)

10. Impact of COVID-19 Pandemic on Asia Pacific Automated Compounding Systems Market
10.1 Asia Pacific: Impact Assessment of COVID-19 Pandemic

11. Company Profiles
11.1 Weibond Technology
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Baxter International Inc.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Grifols, S.A.
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 NewIcon
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 ARxIUM
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments

12. Appendix
12.1 About the Publisher
12.2 Word Index
Note: Product cover images may vary from those shown
3 of 3
  • Weibond Technology
  • ARxIUM
  • Grifols, S.A
  • NewIcon
  • Baxter International Inc.
Note: Product cover images may vary from those shown
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