The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The automated compounding devices market size has grown significantly in recent years, moving from $2.2 billion in 2023 to $2.36 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. Historical growth factors include the rising prevalence of chronic diseases, an aging population, the expansion of healthcare infrastructure, regulatory requirements, and the need to reduce medication errors. Looking forward, the market is projected to grow to $3.12 billion by 2028 at a CAGR of 7.3%. Key drivers for future growth include rising cancer prevalence, global healthcare expansion, a stronger focus on patient safety, regulatory support, and an increasing emphasis on sustainability. Noteworthy trends during the forecast period will include advancements in telemedicine and remote healthcare, artificial intelligence integration, healthcare digitalization, and real-time monitoring systems.

The increasing number of personalized medicines is expected to fuel the growth of the automated compounding devices market going forward. Personalized medicine refers to a medical approach that tailors healthcare decisions, practices, interventions, and treatments to the individual characteristics of each patient. The increasing number of personalized medicines is due to a better understanding of genetics, patient-specific data, and regulatory support. Automated compounding devices (ACDs) play a crucial role in the field of personalized medicine by enabling the precise and accurate preparation of custom medication formulations tailored to individual patient needs. These devices automate the process of combining various pharmaceutical ingredients in specific proportions, which is essential for creating personalized treatments. For instance, in February 2024, according to the Personalized Medicine Coalition, a US-based non-profit organization, the FDA approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to six in 2022. Therefore, the increasing number of personalized medicines is driving the growth of the automated compounding devices market.

Get A Free Sample On The Automated Compounding Devices Market Report:

https://www.thebusinessresearchcompany.com/sample.aspx?id=18231&type=smp

What Are The Key Trends That Influence Automated Compounding Devices Market Share Analysis?

Major companies operating in the automated compounding device market are focusing on reducing medication errors and improving patient safety with advanced technologies, such as robotic compounding technology, to gain enhanced customer trust, regulatory compliance, and a competitive advantage. Robotic compounding technology automates the precise preparation and mixing of pharmaceutical compounds using advanced robotic systems, enhancing accuracy, efficiency, and safety in medication preparation. For instance, in March 2022, Omnicell Inc., a US-based healthcare technology company, launched the IVX Station, a new automated compounding device. This innovative solution aims to expand access to IV robotic technology in the broader market, enhancing patient safety, accuracy, cost efficiency, supply chain management, and regulatory compliance. The IVX Station offers three times faster throughput than current IV robotic systems, incorporates a highly reliable design to minimize downtime, and maintains a compact footprint suitable for pharmacy operations.

How Is The Global Automated Compounding Devices Market Segmented?

1) By Component: Automated Compounding Systems Equipment; Automated Compounding Systems Software
2) By Product Type: Intravenous Compounding Systems; Oral Compounding Systems; Total Parenteral Nutrition (TPN) Compounding Systems
3) By Mode Of Operation: Fully Automated Compounding Systems; Semi-Automated Compounding Systems
4) By End-User: Hospitals; Ambulatory Surgical Centers; Other End Users

Read The Full Automated Compounding Devices Market Report Here:

https://www.thebusinessresearchcompany.com/report/automated-compounding-devices-global-market-report

The Automated Compounding Devices Global Market Report 2024 provides an overview of the automated compounding devices market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automated compounding devices market forecast analyzes automated compounding devices market size, automated compounding devices market share, leading competitor and their market positions.

The Table Of Content For The Automated Compounding Devices Market Include:

Explore Similar Reports From The Business Research Company:

Compound Camphor Ointment Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/compound-camphor-ointment-global-market-report

Compound Feed Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/compound-feed-global-market-report

Compound Management Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/compound-management-global-market-report

Learn More About The Business Research Company

The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: