According to the latest study on 'Automated Compounding Systems Market Forecast to 2027 - Covid-19 Impact and Global Analysis by Product Type and End User'. The global automated compounding systems market was valued at US$ 403.88 million in 2019 and is projected to reach US$ 684.17 million by 2027; it is expected to grow at a CAGR of 7.0% during 2020–2027. The report highlights the trends prevailing in the global automated compounding systems market and the factors driving the market along with those that act as deterrents to its growth.

An automated compounding system is a machine that consolidates one or more drug solutions to a final container for patient administration. Automated compounding system helps avoid medication error that occurs due to a 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. Factors such as the growing adoption of chemotherapy and personalized medication, rising need to minimize medication errors are expected to account for the growth of the market.

Get Sample PDF @ https://www.theinsightpartners.com/sample/TIPRE00010169/

Factors such as the growing adoption of chemotherapy and personalized medication, rising need to minimize medication errors are driving the market growth. However, the high cost of automated compounding systems will impede the market growth. Furthermore, increasing awareness in pharmacists is likely to offer significant opportunities for the growth of the global automated compounding systems market.

The most notable market participants are Baxter International Inc., Comaker, and Grifols, S.A, OMNICELL INC., and EQUASHIELD occupying a considerable share of the market owing to their offerings to the market.

Market leaders are involved in inorganic activities such as partnerships and acquisitions to improve their performance and consolidate the market position. For instance, in October 2017, OMNICELL INC. acquired InPharmics, a provider of advanced pharmacy informatics solutions to hospital pharmacies. This acquisition added clinical and compliance analytics to the company’s product portfolio.

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi

E-mail: sales@theinsightpartners.com

Phone: +1–646–491–9876