North America Automated Compounding Devices Market - 2024 - 2031

Report Overview

The North America automated compounding devices market was valued at US$ 362.27 million in 2023 and is estimated to reach US$ 529.17 million by 2031, growing at a CAGR of 5.0% during the forecast period from 2024-2031

Automated compounding devices are sophisticated pharmaceutical equipment designed to automate and streamline the process of medication compounding. Medication compounding refers to the customized preparation of medications by pharmacists or trained pharmacy technicians to meet specific patient needs that cannot be met by commercially available products. This can include creating unique dosage forms, adjusting drug concentrations, or combining multiple medications into a single formulation. Automated compounding devices are typically used in settings such as hospitals, compounding pharmacies, long-term care facilities, and specialty clinics where precise medication doses and formulations are crucial for patient care. These devices utilize advanced technology, including robotics, automation, and software algorithms, to accurately measure, mix, and dispense medications in various forms, including intravenous (IV) solutions, oral liquids, topical creams, and ointments.

Market Dynamics

Rising Technological Advancements in Automated Compounding Devices

The automated compounding devices market is witnessing remarkable growth due to ongoing technological advancements that address key challenges and requirements in medication compounding. These advancements span various aspects of device design, functionality, and integration, driving market expansion and adoption rates. One of the primary drivers of market growth is the integration of enhanced safety features in automated compounding devices. Modern devices are equipped with sophisticated sensors, algorithms, and safety mechanisms to prevent errors and ensure compliance with medication compounding standards. For instance, advanced error detection systems can identify discrepancies in medication concentrations, volumes, or formulations, minimizing the risk of medication errors and adverse patient outcomes. Government journals and reports provide insightful statistics on the impact of automated compounding devices on medication safety.

For instance, data from the U.S. Food and Drug Administration (FDA) indicate that medication errors contribute to approximately 7,000 deaths annually in the United States alone. However, hospitals and healthcare facilities adopting automated compounding devices have reported significant reductions in medication errors, with some studies indicating a reduction of up to 52%. Another significant trend driving market growth is the integration of robotics and artificial intelligence (AI) technologies in automated compounding devices. Robotics enable precise and consistent medication preparation, minimizing variability and ensuring uniformity in compounded products. AI algorithms analyze data, optimize compounding processes, and provide real-time feedback to pharmacy staff, enhancing operational efficiency and medication quality.

Market Segment Analysis

The North America automated compounding devices market is segmented based on Product Type, Source Type, Component type, Mode of operations, End Users and Country.

TPN (Total Parenteral Nutrition)

Total Parenteral Nutrition (TPN) in the global automated compounding devices market was valued at US$ 314.11 million in 2023 and are estimated to reach US$ 482.68 million by 2031, growing at a CAGR of 5.6% during the forecast period from 2024-2031. Total parenteral nutrition (TPN) compounding systems are specialized automated devices for preparing total parenteral nutrition solutions, which are critical for patients who cannot or should not receive their nutrition through oral or enteral routes. The need for TPN compounding systems is driven by the complexity of mixing various nutrients and the importance of adhering to stringent sterility and precise compositional requirements. These systems are essential in neonatology departments and intensive care units and for home-based long-term nutrition support.

Prescribing and preparing total parenteral nutrition solutions is a complex process. Several systems have been developed, from standardized commercially available bags requiring minimal manipulation before infusion, to fully customized solutions compounded daily on-site. A compounded parenteral nutrition bag typically contains a mixture of more than 10 different solutions. Compounding these solutions requires experienced personnel (pharmacists and pharmacy technicians) and an adequate environment where microorganisms and air particles are minimized, because of a high risk of error and contamination during compounding, which can lead to serious adverse events and even patient deaths. Automated compounding devices have been purported to reduce the risk of human error and improve the efficiency of compounding compared with manual preparation.

Market Segmentation

By Product Type

Oral Liquid Compounding Systems

TPN (Total Parenteral Nutrition)

Compounding Systems

Chemotherapy Compounding Systems

By Source Type

Gravimetric Automated Compounding Devices*

Volumetric Automated Compounding Devices

Syringe-based Automated Compounding Devices

By Component

Hardware*

Software

Services

By Mode of Operation

Fully Automated Compounding Devices*

Semi-Automated Compounding Devices

By End-User

Hospitals*

Pharmacies

Others

By Country

U.S.

Canada

Mexico

Major Key players

Grifols, S.A. *

Baxter International Inc

COMECER S.p.A.

ARxIUM

ICU Medical Inc.

EQUASHIELD

B. Braun SE

BECTON, DICKINSON AND COMPANY

SMARTCOMPOUNDERS B.V.

NewIcon Oy

Why Purchase the Report?

To visualize the North America automated compounding devices market segmentation based on product type, technology, component, mode of operation, end-user and region as well as understand key commercial assets and players.

Identify commercial opportunities by analyzing trends and co-development.

Excel data sheet with numerous data points of North America automated compounding devices market-level with all segments.

PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.

Product mapping available as excel consisting of key products of all the major players.

The North America automated compounding devices market report would provide approximately 77 tables, 79 figures and 125 Pages.

Target Audience 2024

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies