Future Market Insights forecasts a comparison and review analysis of the dynamics of the medication pouch inspection systems market, which is primarily influenced by a variety of industry factors as well as a few definite influences such as high capital investments for maintaining and installing medication pouch inspection systems, which are expected to stymie market growth.
Other recent industry advancements include the development of new pharmaceutical pouch inspection systems, which incorporate features such as control mechanisms for inspecting new medications. Becton, Dickinson and Company acquired Parata Systems in June 2022 to enter the emerging pharmacy automation systems industry.
The market for pharmaceutical pouch inspection systems is anticipated to reach a value of US$ 37 million in 2022 and to grow at a CAGR of 7.6% to reach US$ 59.3 million by the end of 2029.
Vision inspection systems are the new update to the industry of automation and its demand is propelled with the necessity of carrying out error-free operation of medication pouch dispensing machines. The revelations are made in a new research report by Future Market Insights, titled ‘Medication Pouch Inspection Systems Market Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028‘. The future of these pouch inspection systems is predicted to be highly lucrative with the ease in the process it provides, which is carried out at high speed and also with a high rate of accuracy.
New medicine pouch inspection systems with characteristics like control processes to inspect new pharmaceuticals are just one of the market’s most recent innovations. Becton, Dickinson and Company purchased Parata Systems in June 2022 to enter the pharmacy automation system market.
Due to the inadequacies of the current approach, business owners are being deterred from installing pharmaceutical pouch inspection systems in their packaging facilities, which is the main cause of this shift in growth rate. Despite these concerns, e-commerce and increased packaged tablet demand for pharmaceutical pouch inspection systems are predicted to drive market expansion.
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Increasing Demand for Accuracy in Medication Dispensing to Boost Sales
Most of the medication pouch inspection systems are capable of performing inspection with around 98% accuracy, which means that only around 2 out of 100 pouches are needed to be inspected by pharmacists. In addition to reducing the probability of error in medication dispensing, medication pouch inspection systems accelerate the productivity at pharmacies, eventually cutting down on the requirement of additional workforce. With growing demand due to such attributes, the market is likely to reach a value of over US$ 55 Mn by the end of 2028ion pouch inspection systems market is estimated to observe a healthy CAGR of 7.6%.
Technological Innovation Remains on Market Players‘ Agenda; Integration of Inspection Systems with Dispensing Machines
Consistent advancements in the industry have been introducing innovative machines to the marketplace. TCGRx has come up with a new machine that inspects medication pouches at 12 parameters, including surface of tablet, length, width, distance to center, length, width, contour, roundness, standard color deviation, sequence, and more.
A number of leading companies are working on the integration of inspection systems with dispensing machines in order to reduce additional costs of individual units. Companies such as Rowa, RxSafe LLC have brought in their own integrated versions of the machines. The medication pouch inspection system provided by JVM Co., Ltd. are integrated with medication registering systems which store data about medication pouches that have been inspected by the machine.
Strategic collaborations and partnerships with pharmacy automation companies are among the top strategies adopted by leading players competing in the global medication pouch inspection systems market.
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Medication Pouch Inspection Systems Market Details-
The global medication pouch inspection systems market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach in front of the reader.
By Machine Type
- Automatic
- Table Top
By Maximum Operating Speed
- Up to 50 ppm
- 50-75 ppm
- Above 75 ppm
By End User
- Retail Pharmacy
- Hospital Pharmacy
- Long-Term Care Pharmacy
- Mail Order Pharmacy
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