Global Medication Pouch Inspection Systems Market, By Machine Type (Automatic, Table Top), Operating Speed (Up to 50 ppm, 50-75 ppm, Above 75 ppm), End-User (Retail Pharmacy, Hospital Pharmacy, Long-Term Care Pharmacy, Mail Order Pharmacy) – Industry Trends and Forecast to 2029
Market Analysis and Size
According to the estimates, nearly 2 out of every 100 medical pouches do not require a pharmacist's inspection because the majority of medical pouch inspection systems can execute inspection with an accuracy of 98 percent. The medical pouch inspection systems increase the speed and productivity at a pharmacy, which not only reduces the likelihood of error in medication administration but also reduces the need for staff. Therefore, the medication pouch inspection systems is estimated to have an accelerated growth over the forecast period.
Global medication pouch inspection systems market was valued at USD 34.70 billion in 2021 and is expected to reach USD 70.68 billion by 2029, registering a CAGR of 9.30% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Machine Type (Automatic, Table Top), Operating Speed (Up to 50 ppm, 50-75 ppm, Above 75 ppm), End-User (Retail Pharmacy, Hospital Pharmacy, Long-Term Care Pharmacy, Mail Order Pharmacy)
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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Precia SA (France), Loma Systems (U.S.), ESPERA-WERKE GmbH (Germany), Ossid, LLC. (U.S.), WIPOTEC-OCS GmbH (Germany), Aja Ltd (Japan), Xact (U.S.), Marel (Iceland), Thermo Fisher Scientific Inc. (U.S.), HBM - Liebel (Germany), Bizerba (Germany), Minebea Intec (Germany), Mettler Toledo (U.S.), Anritsu (Japan), Sesotec Gmbh (Germany), JBT (U.S.), Heat and Control, Inc. (U.S.), Rehoo Industrial Limited (China), Murata Machinery Ltd (Japan), ISHIDA CO., LTD. (Japan)
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Market Opportunities
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Market Definition
Medication pouch inspection systems are basically the useful for confirming the accuracy of packing across a variety of sectors. Several common end-user industries are shown in the bag. Due to extensive field research and development activities, these systems may be simply integrated with the current infrastructure, negating the need for additional space and equipment.
Medication Pouch Inspection Systems Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- High Requirement Across Sectors
Ove the forecast period, a significant rate of growth in the market is anticipated. This is primarily because efficient packaging is required in a number of sectors, including the food and beverage, pharmaceutical, and e-commerce businesses. The increasing tendency toward automation is one of the key development factors in the market for pharmaceutical pouch inspection systems worldwide. This is mostly because there aren't many workers available to carry out menial tasks.
- Advantageous Features of the Systems
In addition, the removal of human error is another reason that is anticipated to boost market growth for pharmaceutical pouch inspection systems. A worker is expected to inspect hundreds of pouches at once during the repetitive activity of pouch inspection. This increases the likelihood of error, however the market demand for medication pouch inspection systems is rising due to these systems' capacity to dispense packaged tablets while detecting even the smallest faults. As a result, the pharmaceutical pouch inspection systems is therefore estimated to have a significant boost in growth rate.
Furthermore, the factors such as the increasing geriatric population coupled with the rising demand for packaged medication will further propelled the growth rate of medication pouch inspection systems market. The increasing number of online pharmacies will also drive market value growth. The presence of well-developed and well-organized healthcare infrastructure are other market growth determinants.
Opportunities
- Introducing of Advanced Medication Pouch Inspection Systems
The manufacturers within the market are introducing advanced medication pouch inspection systems that include features such as the control process that inspects different medications. This will help in inspection of different packaging at once, thus extending profitable opportunities to the market players in the forecast period of 2022 to 2029.
- Surge in Investments
Additionally, there has been increasing investments made by the major players in the research and development of flexible and simple to integrate medication pouch inspection systems. This will further aid the global market to increase and further expand the future growth of the medication pouch inspection systems market.
Restraints/Challenges
- Requirement of High Capital
The large capital expenditures required for the installation and upkeep of these systems, however, are anticipated to impede the growth of the market for medication pouch inspection systems. As a result of this, small-scale industries continue to use manual systems which largely hampers the overall growth rate for the market.
- Lower Adoption due to Inadequacy
In addition to this, the company owners are being discouraged from implementing medication pouch inspection systems in their packaging unit due to the inadequacy of the current method. Therefore, this factor will further restrict the adoption thus, posing as a major challenge for the medication pouch inspection systems market growth rate.
This medication pouch inspection systems market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the medication pouch inspection systems market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Medication Pouch Inspection Systems Market
The recent outbreak of coronavirus had a significant influence on the medication pouch inspection systems market. The healthcare and pharmaceutical industries were significantly impacted by the COVID-19 pandemic of 2020, which resulted in a sharp increase in demand as a result of a highly contagious virus. The epidemic fundamentally altered how people around the world viewed and approached medicine and healthcare. Moreover, due to supply chain interruptions and the manufacturing of various medical supplies, the pandemic both positively and negatively impacted the sales of certain medications and medical supplies. Lockdown limitations had a significant impact on how important supplies and commodities were manufactured, which disrupted the flow of goods between the supply and demand chains.
The epidemic increased peoples' awareness of personal hygiene and health, and to some extent, it encouraged people to take their pills, which is likely to increase demand for medication pouch inspection devices. In the post-pandemic age, there will likely be a high need for medication pouch inspection systems as manufacturing activity returns to normal and medical supply demand remains high as a result of rising health awareness around the globe.
Recent Development
- In November 2020, The UNC Health Shared Services Center, UNC Hospitals, and Rex Hospital were integrated and expanded with the help of ARxIUM, a well-known name in the pharmacy automation solutions sector, according to a recent announcement.
Global Medication Pouch Inspection Systems Market Scope
The medication pouch inspection systems market is segmented on the basis of machine type, operating speed, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Machine Type
- Automatic
- Table Top
Operating Speed
- Up to 50 ppm
- 50-75 ppm
- Above 75 ppm
End-User
- Retail Pharmacy
- Hospital Pharmacy
- Long-Term Care Pharmacy
- Mail Order Pharmacy
Medication Pouch Inspection Systems Market Regional Analysis/Insights
The medication pouch inspection systems market is analyzed and market size insights and trends are provided by country, machine type, operating speed, and end-user as referenced above.
The countries covered in the medication pouch inspection systems market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the medication pouch inspection systems market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the rising number of technological advancement along with ease of operations, prevalence of well-established infrastructure and healthcare facilities within the region.
Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the favorable government policies as well as the easy availability of cheap labor in India, and China in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Medication Pouch Inspection Systems Market Share Analysis
The medication pouch inspection systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to medication pouch inspection systems market.
Some of the major players operating in the medication pouch inspection systems market are
- Precia SA (France)
- Loma Systems (U.S.)
- ESPERA-WERKE GmbH (Germany)
- Ossid, LLC. (U.S.)
- WIPOTEC-OCS GmbH (Germany)
- Aja Ltd (Japan)
- Xact (U.S.)
- Marel (Iceland)
- Thermo Fisher Scientific Inc. (U.S.)
- HBM - Liebel (Germany)
- Bizerba (Germany)
- Minebea Intec (Germany)
- Mettler Toledo (U.S.)
- Anritsu (Japan)
- Sesotec Gmbh (Germany)
- JBT (U.S.)
- Heat and Control, Inc. (U.S.)
- Rehoo Industrial Limited (China)
- Murata Machinery Ltd (Japan)
- ISHIDA CO., LTD. (Japan)
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