Automated Compounding Systems Market Size, Trends and Growth Analysis by 2027

In 2019, the automated compounding systems market was valued at approximately US$ 403.88 million and is anticipated to grow to around US$ 684.17 million by 2027, reflecting a compound annual growth rate (CAGR) of 7.0% from 2020 to 2027.

The expansion of the automated compounding systems market can be primarily linked to several key factors, including the increasing use of chemotherapy and personalized medicine, as well as the growing necessity to reduce medication errors. Nevertheless, the high price of automated compounding systems poses a challenge to market growth.

Medication and dispensing errors are critical concerns that contribute to hospital readmissions globally. Such errors can occur at various levels of patient care, involving both medical and paramedical staff. A medication error may arise from multiple issues, including ineffective communication of orders between physicians and pharmacists, unsafe storage practices in pharmacies, and confusion stemming from similar labeling. Therefore, implementing comprehensive monitoring systems is essential. Automated compounding systems are recognized as one of the most effective solutions to mitigate these errors. Data indicates that nurses frequently commit medication errors, and even in intensive care units (ICUs), where healthcare professionals are typically more skilled, the incidence of medication errors was reported to exceed 52.5% in 2015.

Numerous governmental organizations are actively pursuing strategies to prevent medication errors and are developing systems and methodologies to ensure patients receive the correct medications. For example, the National Coordinating Council for Medication Error Reporting and Prevention (NCC MERP) aims to enhance the safe use of medications and raise awareness about medication errors through open communication, improved reporting mechanisms, and campaigns focused on preventing such errors. According to NCC MERP statistics, approximately 100,000 individuals die annually due to medical errors in hospitals, with the number of fatalities from medication errors surpassing those from workplace injuries. Consequently, to reduce medication and compounding errors, various governments are promoting the adoption of automated compounding and medication management tools in pharmacies and healthcare facilities. This initiative is a significant driver of growth in the automated compounding systems market.

The automated compounding systems market is categorized by product type into gravimetric automated compounding systems and volumetric automated compounding systems. The gravimetric automated compounding systems segment accounted for the largest market share in 2019 and is projected to maintain its leading position with the highest CAGR throughout the forecast period.

From the perspective of end users, the global automated compounding systems market is divided into hospitals, chemotherapy centers, and other facilities. The hospitals segment represented the largest share of the market in 2019 and is expected to continue its dominance with the highest CAGR during the forecast period.

Key organizations such as the World Health Organization (WHO), the Food and Drug Administration (FDA), the National Institute for Occupational Safety and Health (NIOSH), and the European Court of Justice are among the primary and secondary sources consulted in the preparation of this report.