Automated Compounding Device (Oncology) Market to Grow with a CAGR of 7.56%through 2028

Rising Incidence of Cancer are expected to drive the Global Automated Compounding Device (Oncology) Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Automated Compounding Device (Oncology) Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Automated Compounding Device (Oncology) Market stood at USD 300.19 Million in 2022 and is anticipated to grow with a CAGR of 7.56% through 2028. The automated compounding device oncology market is a rapidly evolving sector within the broader healthcare industry. These devices are designed to automate and streamline the preparation of sterile medications, including chemotherapy drugs, for cancer patients. As precision and accuracy are critical in oncology treatments, automated compounding devices play a vital role in enhancing patient safety and optimizing medication management. The automated compounding device oncology market experiences continuous technological advancements, such as improved user interfaces, wireless connectivity, and enhanced safety features. These innovations are designed to provide healthcare professionals with cutting-edge tools to deliver better patient outcomes. Additionally, increasing awareness about automated compounding systems among pharmacists and the introduction of novel robotic technology automation in compounding systems are likely to increase the growth of the automated compounding systems market during the forecast period.

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The Global Automated Compounding Device (Oncology) Market is segmented into Technology, End User, and company.

Based on the Technology, the Volumetric Compounding System segment is anticipated to witness substantial market growth throughout the forecast period. The Global Automated Compounding Device (Oncology) Market is poised for significant growth, propelled by the adoption of Volumetric Compounding Systems. This advanced technology represents a critical evolution in drug compounding, particularly in the realm of oncology, where precision is paramount. Volumetric Compounding Systems offer a highly accurate and efficient method for preparing complex oncology medications, ensuring precise volume measurements and minimizing the margin of error associated with manual compounding. The inherent capabilities of these systems to handle a diverse range of drug formulations with meticulous precision contribute to improved patient safety and treatment outcomes. Their versatility in accommodating varying medication volumes aligns seamlessly with the demand for personalized and patient-specific oncology therapies.

Based on the End User segment, the Hospitals segments has been the dominant force in the market. The growth of the Global Automated Compounding Device (Oncology) Market is poised to be significantly driven by the hospitals segment. Hospitals, as pivotal components of the healthcare ecosystem, are increasingly recognizing the critical role of automated compounding devices in elevating patient care standards, particularly in the field of oncology. The inherent precision and efficiency offered by these devices align with the stringent medication requirements in cancer treatments, fostering a paradigm shift in medication preparation. In hospital settings, where patient safety and workflow optimization are paramount, automated compounding devices contribute to reducing the risk of errors associated with manual compounding. The demand for streamlined and error-free medication preparation processes, especially for complex oncology therapies, positions automated compounding devices as indispensable tools within hospital pharmacies and oncology departments. Furthermore, the ability of these devices to handle the high volume and diverse formulations required for various oncology treatments enhances operational efficiency in hospitals.

Major companies operating in Global Automated Compounding Device (Oncology) Market are:

• Baxter International Inc.
• B. Braun SE.
• COMECER S.p.A.
• ARxIUM Inc.
• Omnicell Inc.
• Grifols, S.A.
• Weibond Technology
• Equashield LLC.
• ICU Medical, Inc
• NewIcon Oy

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“The growing demand for personalized cancer treatments is driving the adoption of gravimetric compounding devices in oncology. These treatments often require complex and precise combinations of drugs, which can be challenging to achieve using manual compounding methods. Gravimetric compounding devices offer a more efficient and accurate way to prepare these complex drugs, which is driving their adoption in the oncology market. Additionally, increasing awareness about automated compounding systems among pharmacists and the introduction of novel robotic technology automation in compounding systems are likely to increase the growth of the automated compounding systems market during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Automated Compounding Device (Oncology) Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Technology (Gravimetric Compounding System, Volumetric Compounding System), By End User (Hospitals, Chemotherapy Centers, Others), By Region, By Competition”, has evaluated the future growth potential of Global Automated Compounding Device (Oncology)  Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Automated Compounding Device (Oncology) Market.

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