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

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    Report

  • 93 Pages
  • July 2020
  • Region: Europe
  • The Insight Partners
  • ID: 5130834
UP TO OFF until Jun 30th 2023
The Europe automated compounding systems market is expected to reach US$ 182.88 million by 2027 from US$ 111.28 million in 2019. The market is estimated to grow with a CAGR of 6.6% from 2020 to 2027.

The automated compounding systems market is growing primarily due to the growing adoption of chemotherapy and personalized medication and rising need to minimize medication errors in the Europe region. Restraining factors, such as high cost and reluctance to adopt automated compounding systems and COVID-19 pandemic are likely to damage the growth of the market in the coming years. Additionally, increasing awareness in pharmacist sand 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.

Medication and dispensing errors are the major issues for hospital read missions across the world. Medication errors can happen by both medical and paramedical personnel at numerous levels of patient care. Hence, multilevel monitoring is compulsory. Automated compounding systems are deliberated to be one of the most qualified solutions to diminish these errors. There are several data on errors in medication committed by nurses. Even in intensive care units (ICUs), where the medical and paramedical personnel are much more expert, the frequency of medication errors is reported to be more than 52.5%.

Various government organizations are working on the measures to avoid medication errors and developing methods and systems to overcome these errors in order to provide proper medication to the patients. The successful implementation of automated dispensing cabinets (ADCs) and automated dispensing machines (ADMs) in hospitals in the past has led to a significant reduction in the number of dispensing and medication errors in hospitals. Thus, governments in several countries encourage the use of ADMs and ADCs in pharmacies and hospitals to eliminate prescription and distribution errors. This leads to greater acceptance of automation systems for pharmacies.

Thus, to minimize medication and compounding errors, governments in several nations are encouraging the use of automated compounding and medication tools in pharmacies and hospitals. This is considered to be a major factor propelling the growth of automated compounding systems market.

Europe has been massively hit by COVID-19 outbreak affecting many of its countries on a large scale. Italy, Germany, Spain, UK and France along with other European countries are continually witnessing rise in number of COVID-19 cases every day. In March 2020, European Medicines Agency has formed an executive committee to deal with impact of COVID-19 on supply chain of medicines. Moreover, the process of shutting down is expected to have severe impact on new product launches and distributions. For instance, Comecer is headquartered in Italy with its factories in Italy and the Netherlands due to the lockdown and severe spread of COVID-19 and complete lockdown in the country will affect the manufacturing process of automated compounding systems.

In 2019, the gravimetric automated compounding systems segment accounted for the largest market share in the Europe 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 report are the European Medicines Agency (EMA), Food and Drug Administration (FDA), World Health Organization (WHO), European Association of Hospital Pharmacists (EAHP), and others.

Reasons to Buy
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe 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 Europe 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 regional 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

Table of Contents

1. Introduction
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Europe Automated Compounding Systems Market - By Product Type
1.3.2 Europe Automated Compounding Systems Market- By End User
1.3.3 Europe Automated Compounding Systems Market - By Country
2. Europe Automated Compounding Systems Market - Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Automated Compounding Systems Market - Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Automated Compounding Systems Market - Europe PEST Analysis
4.3 Expert Opinion
5. Europe Automated Compounding Systems Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Growing Adoption of Chemotherapy and Personalized Medication
5.1.2 Rising Need to Minimize 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 Increasing Awareness in Pharmacists
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 - Europe Analysis
6.1 Europe Automated Compounding Systems Market Revenue Forecasts and Analysis
7. Europe Automated Compounding Systems Market Analysis and Forecasts To 2027 - By Product Type
7.1 Overview
7.2 Europe Automated Compounding Systems Market, By Product Type 2019 & 2027 (%)
7.2.1 Europe 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 Europe 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 Europe Volumetric Automated Compounding Systems Market Revenue and Forecasts to 2027 (US$ Mn)
8. Europe Automated Compounding Systems Market Analysis - By End-User
8.1 Overview
8.2 Europe Automated Compounding Systems Market, By End-User 2019-2027 (%)
8.2.1 Europe Automated Compounding Systems Market Revenue and Forecasts to 2027, By End-User (US$ Mn)
8.3 Hospitals
8.3.1 Overview
8.3.2 Europe Hospitals Market Revenue and Forecasts to 2027 (US$ Mn)
8.4 Chemotherapy Centers
8.4.1 Overview
8.4.2 Europe Chemotherapy Centers Market Revenue and Forecasts to 2027 (US$ Mn)
8.5 Others
8.5.1 Overview
8.5.2 Europe Others Market Revenue and Forecasts to 2027 (US$ Mn)
9. Automated Compounding Systems Market Revenue and Forecasts To 2027 - Geographical Analysis
9.1 Europe Automated Compounding Systems Market Revenue and Forecasts To 2027
9.1.1 Overview
9.1.2 Europe: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.3 Europe: Automated Compounding Systems Market - Volume and Forecast to 2027 (USD Million)
9.1.4 Europe Automated Compounding Systems Market, by Product Type - Revenue and Forecast to 2027 (USD Million)
9.1.5 Europe Automated Compounding Systems Market, by Product Type - Volume and Forecast to 2027 (Units)
9.1.6 Europe Automated Compounding Systems Market, by End User - Revenue and Forecast to 2027 (USD Million)
9.1.7 Europe: Automated Compounding Systems Market, by Country, 2019 & 2027 (%)
9.1.8 Germany: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.8.1 Germany: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.8.1.1 Germany Automated Compounding Systems Market, by Product Type - Revenue and Forecast to 2027 (USD Million)
9.1.8.1.2 Germany Automated Compounding Systems Market, by End User - Revenue and Forecast to 2027 (USD Million)
9.1.9 France: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.9.1 France: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.9.1.1 France Automated Compounding Systems Market, by Product Type - Revenue and Forecast to 2027 (USD Million)
9.1.9.1.2 France Automated Compounding Systems Market, by End User - Revenue and Forecast to 2027 (USD Million)
9.1.10 United Kingdom: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.10.1 United Kingdom: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.10.1.1 UK Automated Compounding Systems Market, by Product Type - Revenue and Forecast to 2027 (USD Million)
9.1.10.1.2 UK Automated Compounding Systems Market, by End User - Revenue and Forecast to 2027 (USD Million)
9.1.11 Italy: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.11.1 Italy: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.11.1.1 Italy Automated Compounding Systems Market, by Product Type - Revenue and Forecast to 2027 (USD Million)
9.1.11.1.2 Italy Automated Compounding Systems Market, by End User - Revenue and Forecast to 2027 (USD Million)
9.1.12 Spain: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.12.1 Spain: Automated Compounding Systems Market - Revenue and Forecast to 2027 (USD Million)
9.1.12.1.1 Spain Automated Compounding Systems Market, by Product Type - Revenue and Forecast to 2027 (USD Million
9.1.12.1.2 Spain Automated Compounding Systems Market, by End User - Revenue and Forecast to 2027 (USD Million)
10. Impact Of COVID-19 Pandemic on Europe Automated Compounding Systems Market
10.1 Europe: Impact Assessment of COVID-19 Pandemic
11. COMPANY PROFILES
11.1 Braun Melsungen AG
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 Developments
11.2 Comecer
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 Baxter International Inc.
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

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Braun Melsungen AG
  • Comecer
  • Grifols, S.A
  • NewIcon
  • Baxter International Inc.