Global Pharmacy Repackaging Systems Market to Reach $2.1 Billion by 2026

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Mar 11, 2022, 11:00 ET

SAN FRANCISCO, March 11, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Pharmacy Repackaging Systems - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Pharmacy Repackaging Systems - FEB 2022 Report

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Edition: 6; Released: February 2022
Executive Pool: 403
Companies: 127 - Players covered include ARxIUM, Inc.; Becton, Dickinson and Company; Kirby Lester, LLC; McKesson Canada; Medical Packaging Inc.; Omnicell, Inc.; Parata Systems; Pearson Medical Technologies LLC; Proficient Rx; Swisslog Healthcare AG; Takazono Corporation; YUYAMA Co., Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Product (Blister Card/Compliance Packaging Systems, Liquid Medication Packaging Systems, Bottle Filling/Pill Counting Automation Systems, Pouch Packaging Automation Systems, Other Products)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.

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ABSTRACT-

Global Pharmacy Repackaging Systems Market to Reach US$2.1 Billion by the Year 2026
Pharmaceutical repackaging refers to the process of taking a finished drug product from its original container and placing it separate individual packages. The pharmacy repackaging market is being driven by the need to cut down medication errors, and improve overall patient safety. With the health industry focusing efforts on improving overall patient safety, there is growing emphasis on automation in pharmaceutical packaging. The need to reduce expenditure and cut down wastage is also leading to the need for pharmaceutical repackaging. With new technologies such as barcodes used in repackaging operations offering greater visibility and traceability of drugs through the entire supply chain, there is significant growth opportunities to improve operational efficiency. Further, hospitals and other care facilities with limited resources are increasingly turning towards outsourcing of repackaging services. The market is also gaining from the rising focus on the efficient management of drug inventory and a considerable decline in dispensing inaccuracies and costs. The rising number of deaths on account of incorrect administration of medication and thus the growing need for enhancing patient safety is drawing focus onto bringing about improvements in outpatient services. This is auguring well for the market. Also, the growing focus of pharmacies to optimize their workflow, lower costs and prevent inventory wastage is driving demand for various technologies including repackaging systems. Increasing outpatient visits is stimulating the adoption of automated systems among pharmacists and hospitals for better handling prescriptions.

Amid the COVID-19 crisis, the global market for Pharmacy Repackaging Systems estimated at US$1.6 Billion in the year 2022, is projected to reach a revised size of US$2.1 Billion by 2026, growing at a CAGR of 7.5% over the analysis period. Blister Card/Compliance Packaging Systems, one of the segments analyzed in the report, is projected to grow at a 9.1% CAGR to reach US$747.4 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Liquid Medication Packaging Systems segment is readjusted to a revised 6.1% CAGR for the next 7-year period. This segment currently accounts for a 23.9% share of the global Pharmacy Repackaging Systems market. Blister card packaging systems are widely employed, as they facilitate easy administration of medicine for various kinds of patients and caregivers. These packaging systems include heat sealers, single dose blister card packaging systems, and multi dose blister card packaging systems. Since the drugs are packaged as per patient requirements, there is reduced dosage wastage. Blister packs also contribute to improved patient compliance.

The U.S. Market is Estimated at $484.8 Million in 2022, While China is Forecast to Reach $290.9 Million by 2026
The Pharmacy Repackaging Systems market in the U.S. is estimated at US$484.8 Million in the year 2022. The country currently accounts for a 30.23% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$290.9 Million in the year 2026 trailing a CAGR of 9.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.4% and 6.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7% CAGR while Rest of European market (as defined in the study) will reach US$110.6 Million by the end of the analysis period. North America occupies a lion's share of the market due to increasing outpatient visits. In the region, the level of use of hospital pharmacy repackaging is significantly high, with most hospitals and large pharmacies leveraging some type of automated system to enhance the efficiency of their pharmacy functions. Further, market is being spurred by the emergence of advanced treatments which require specific packaging. Europe is another leading market, supported by France, Germany, and the UK. The expanding healthcare infrastructure in the region is particularly expected to bode well for the market. Further, the growing focus of various health centers on the betterment of their medication workflow through migration to pharmacy automation systems such as repackaging systems is likely to drive growth of the market.

Bottle Filling/Pill Counting Automation Systems Segment to Reach $426.7 Million by 2026
In the global Bottle Filling/Pill Counting Automation Systems segment, USA, Canada, Japan, China and Europe will drive the 7.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$210.6 Million will reach a projected size of US$352.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$40.5 Million by the year 2026, while Latin America will expand at a 8.6% CAGR through the analysis period.
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