Dublin, Aug. 25, 2020 (GLOBE NEWSWIRE) -- The "Asia Pacific Automated Compounding Systems Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product Type; End User, and Country" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific automated compounding systems market is expected to reach US$ 123.70 million by 2027 from US$ 70.25 million in 2019. The market is estimated to grow with a CAGR of 7.5% from 2020 to 2027.
The automated compounding systems market is growing primarily due to the growing adoption of automated compounding systems in pharmacies and hospitals and the increasing need to reduce medication errors in the Asia Pacific region. Restraining factors, such as high costs and reluctance to adopt automated compounding systems and the COVID-19 pandemic are likely to damage the growth of the market in the coming years. Additionally, growing government support in developing countries 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.
Considering the geographic and economic operations between Asian countries and China, countries are expected to witness challenges in respect of COVID-19. Domestic start-ups backed by international funding have already started witnessing back out from investors putting the development of products in jeopardy. Moreover, a sluggish economy and affected supply chains are making it harder for small companies to survive in the current crisis. These restrictive measures will definitely be anticipated to impact on the medical device supply chain and availability of the devices in remote regions. Though the demand for medical devices such as fitness bands and health trackers are increasing due to effectiveness in health tracking, other domains are likely to get hampered due to shut downs.
In 2019, the gravimetric automated compounding systems segment accounted for the largest market share in the Asia Pacific automated compounding systems market. The growth of the gravimetric automated compounding systems is attributed to accuracy provided by the systems, preference by pharmacies and hospitals for the gravimetric systems, enormous commercial use of these systems in the market. Moreover, the gravimetric automated compounding systems segment is anticipated to drive the growth of this market during the forecast period.
Key Topics Covered:
1. Introduction
2. Asia Pacific Automated Compounding Systems Market - Key Takeaways
3. Research Methodology
4. Asia Pacific Automated Compounding Systems Market - Market Landscape
5. Asia Pacific Automated Compounding Systems Market - Key Market Dynamics
6. Automated Compounding Systems Market - Asia Pacific Analysis
7. Asia Pacific Automated Compounding Systems Market Analysis and Forecasts To 2027 - By Product Type
8. Asia Pacific Automated Compounding Systems Market Analysis - By End-User
9. Automated Compounding Systems Market Revenue and Forecasts To 2027 - Geographical Analysis
10. Impact of COVID-19 Pandemic on Asia Pacific Automated Compounding Systems Market
11. Company Profiles
- Weibond Technology
- ARxIUM
- Grifols, S.A
- NewIcon
- Baxter International Inc.
For more information about this report visit https://www.researchandmarkets.com/r/be0pqx
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