Pharmacy Repackaging Systems Market Size, Share, Growth, and Industry Growth by Type (Blister Card Packaging Systems, Pouch Packaging Automation Systems, Liquid Medication Packaging Systems, Bottle Filling Automation Systems, and Pharmacy Repackaging Systems) By Application (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) Regional Forecast By 2031

Updated On: 15 April 2024

Pharmacy Repackaging Systems Market Report Overview

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The global pharmacy repackaging systems market size was USD 1512.9 million in 2022, as per our research, the market is projected to touch USD 2,652.05 million in 2031, exhibiting a CAGR of 6.6% during the forecast period.

 The global COVID-19 pandemic has been unprecedented and staggering, with pharmacy repackaging systems experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Pharmacy repackaging means repackaging purchased medications for safety.

The growing rate of medication errors and related increased death rates. Growing demand to make regulations pertaining to patient safety extra stringent and improvement in healthcare & pharmaceutical services is anticipated to accelerate market growth. The huge adoption of advanced technology solutions in the healthcare sector is predicted to fuel market progress. Medical packing is primarily depending on the prevalence of communicable and non-communicable diseases. Packaging has several advantages, such as storing, securing, storing, and protecting drugs. The adoption of the packing system helps to increase medicine life shells, and huge demand for packing from the pharmaceutical sector is predicted to drive market progress in the forthcoming years. On the contrary, the growing number of counterfeit medicines means fake drugs with no active ingredients are anticipated to restrict the market growth. Further, the rise in third-shift packaging is projected to harm market progress in the upcoming years.

COVID-19 Impact: Growing Demand for Online Shopping During the Pandemic Period to Surge Market Growth  

Several businesses were impacted due to the outbreak of the COVID-19 pandemic, resulting in the scarcity of raw materials and disrupted supply chains. Travel bans and fluctuation of raw material prices hamper the market growth.

On the contrary, allowance for essential services and government regulations support operational activities to manufacture healthcare products. Huge adoption of generic drugs and medicines accelerated the adoption of pharmacy repacking systems.

LATEST TRENDS

"Development of Novel Drug Packing Systems to Accelerate Market Progress"

A growing interest in the development of novel drug packaging systems in pharmaceutical sector. The methods include prefilled syringes and prefilled inhalers. The products are commonly single-dose vaccine units. The packaging systems are usually replacements for traditional vials and syringes. The inhalers are designed typically to protect packed drugs from external surroundings. The huge adoption of advanced technology solutions in the healthcare sector is predicted to fuel market progress. Medical packing is primarily depending on the prevalence of communicable and non-communicable diseases. Packaging has several advantages, such as storing, securing, storing, and protecting drugs. The adoption of the packing system helps to increase medicine life shell, and huge demand for packing from the pharmaceutical sector is predicted to drive pharmacy repackaging systems market progress in the forthcoming years.

Pharmacy Repackaging Systems Market Segmentation

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• By Type

Based on type, the market is divided into blister card packaging systems, pouch packaging automation systems, liquid medication packaging systems, bottle filling automation systems, and pharmacy repackaging systems

Blister card packaging systems are expected to be the top part of type segmentation

• By Application

Based on the application, the market is divided into hospital pharmacies, retail pharmacies, and online pharmacies.

Hospital pharmacies are expected to be the top part of application segmentation.

DRIVING FACTORS

"Huge Demand from Pharmaceutical Sector to Boost Packaging Systems Adoption"

The pharmaceutical sector is growing rapidly due to the increased population and developing economies. Rise in awareness in the healthcare sector and huge adoption of advanced manufacturing processes. The growing need for biological products and the growing prevalence of asthma and diabetes are estimated to propel market growth. The growing rate of medication errors and related increased death rates. Growing demand to make regulations pertaining to patient safety extra stringent and improvement in healthcare & pharmaceutical services is anticipated to accelerate market growth. Rising spending in public healthcare systems is projected to surge market growth in the upcoming years.

"Growing Adoption of Generic Drugs to Improve Market Growth "

Increasing adoption of generic drugs due to low cost in developing regions is expected to fuel market growth. Several investments by key players to manufacture generic drugs and high need for generic drugs among the growing population are predicted to drive market progress. Increased demand to pack and protect during carriage and storage is anticipated to accelerate market progress in the forthcoming years.

RESTRAINING FACTORS

"Rise in Fake Medicines Manufacturing to Obstruct Market Growth "

A growing number of counterfeit medicines means fake drugs with no active ingredients are anticipated to restrict the market growth. Further, the rise in third-shift packaging is projected to harm market progress in the upcoming years.

Pharmacy Repackaging Systems Market Regional Insights

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"Rising Pharmaceutical Industry and Presence of Most Significant Contributor in North America to Drive Market Share"

North America is anticipated to hold the largest pharmacy repackaging systems market share owing to the rising pharmaceutical industry and the presence of the most significant contributor. Increased healthcare spending, a growing need for primary packaging products, and increasing disease prevalence in the region are predicted to drive market growth. 

Europe is projected to account for the second largest position across the globe owing to the growing adoption of updated regulations and the huge need for containers, vials, plastic bottles, prefilled syringes, and ampoules, which is anticipated to boost market progress. 

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Omnicell (U.S.)
• BD (U.S.)
• Swisslog Holding (Switzerland)
• TCGRx (U.S.)
• ARxIUM (U.S.)
• Takazono Corporation (Japan)
• Kirby Lester (U.S.)
• Yuyama (Japan)
• Pearson Medical Technologies (U.S.)
• Parata Systems (Canada)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.