Pharmacy Repackaging Systems Market is Projected to be Worth US $ 2244.9 Mn by 2026

The global pharmacy repackaging systems market continues to expand at a high growth rate. This expansion is driven by the increasing number of medication errors and rising need to improve patient safety. The global pharmacy repackaging systems market is projected to expand at a significant growth rate in the next few years due to rising awareness about benefits of automated systems among health care providers and pharmacists. Incorporating packaging operations within the facility helped hospitals (and also long-term care and retail pharmacies) decrease the costs associated with wasted medication and improve their drug inventory management. Costs are curbed by packaging bulk medication, instead of purchasing pre-packed unit doses from the manufacturer. The pharmacy repackaging systems market is also driven by technological features that allow end-users to incorporate technologies to strengthen their entire process workflow toward enhancing patient safety. High cost of implementation and lack of awareness about benefits of pharmacy repackaging technologies are key factors that are likely to restrain the market.

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Health care infrastructure in developed regions, such as North America and Europe, is well-established and has been focusing on development of their medication workflow by shifting toward pharmacy automation systems, including repackaging systems. Moreover, promising reimbursement programs in these regions are anticipated to fuel the demand for these technologies during the forecast period. The U.S and Canada are major markets in North America. These countries are rapidly advancing the frontiers of technological development as well as enacting stringent standards for medication management. This, in turn, is likely to propel the demand for repackaging systems that cater to the basic requirement of customized dosage in various end-user domains.

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A detailed qualitative analysis of factors responsible for driving and restraining market growth and future opportunities has been provided in the market overview section. This section of the report also provide insights into the key trends of the pharmacy repackaging systems market such as outsourcing to third party repackaging companies. The key market indicators influencing global pharmacy repackaging systems market taken into consideration including cost constraints and regulatory landscape. The report also includes market attractiveness analysis of the major segments that provides a thorough analysis of the overall competitive scenario in the global pharmacy repackaging systems market. The report also highlights key events of the global pharmacy repackaging systems industry. A value chain analysis along with list of major players, hospitals and distributors is also included in the report.

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Market value in terms of US$ Mn for the period between 2016 and 2026 along with the compound annual growth rate (CAGR %) from 2018 to 2026 are provided for all the segments, considering 2017 as the base year. The year-on-year growth of the global pharmacy repackaging systems market for each segment is also reflected. Additionally, market related factors such as increasing preference for product innovation, cost reduction for hospitals, greater affordability for patients in various geographies, and historical year-on-year growth have been taken into consideration while estimating the market size.

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