Europe Automated Intravenous Oncology Compounding Devices Market Size By Product Type (Macro Devices, Micro Devices, Major/Micro Devices), By Technology (Gravimetric Devices, Volumetric Devices), By End-Use (Hospitals, Chemotherapy Centers), By Geographic Scope And Forecast

Europe Automated Intravenous Oncology Compounding Devices Market Size And Forecast

Europe Automated Intravenous Oncology Compounding Devices Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2022 to 2030.

A fully automated compounding system mixes one or more medication solutions into a final container for patient administration. The Automated Intravenous Oncology Compounding Devices Market is increasing in Europe, owing to increased acceptance of chemotherapy and customized medication, as well as a growing demand to reduce drug errors. The Europe Automated Intravenous Oncology Compounding Devices Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Europe Automated Intravenous Oncology Compounding Devices Market Definition

Automated Compounding Devices (Oncology) are devices that assist in the aseptic transfer of one or more sterile component solutions to a sterile final container for patient preparation, reducing the need for syringes. The devices are known for providing superior ingredient distribution precision, as well as lowering preparation time and limiting patient injuries. This helps prevent prescription mistakes caused by a range of variables including inadequate management communication between the physician and pharmacist, important pharmacy storage procedures, and confusion caused by the usage of identical labels.

Automated compounding technologies, on the other hand, have enhanced the precision and efficiency of administering compounded pharmaceuticals while also reducing the exposure of healthcare practitioners to harmful substances. The gravimetric method and the volumetric methods are the two basic approaches employed in ACD technology. Furthermore, the chemotherapeutic medicines involved are sometimes very toxic, with a poor therapeutic index, necessitating the use of high-precision drug preparation.

The precision of these ACDs is related to the volume that must be transmitted, implying that the bigger the volume, the higher the device’s accuracy. As a result, manufacturers provide a variety of transferable volumes to meet the demands of a wide spectrum of clients. The gadgets are used to measure powdered and liquid components in both hospitals and pharmacies.

Europe Automated Intravenous Oncology Compounding Devices Market Overview

Europe Automated Intravenous Oncology Compounding Devices Market is expected to increase due to the rising adoption of chemotherapy and customized medicine, better efficiency & accuracy of the device, reduced exposure to cytotoxic material, and a reduced risk of contamination. Furthermore, the market is driven by the decrease in hospital per-dose costs and the removal of contamination that is necessary when compounding solutions.

The increased need to reduce medical mistakes is also a driving force for the growth. Additionally, during the projected period, the adoption of new robotic technology automation in compounding systems is expected to boost the market growth. However, the high installation cost of devices, reluctance to accept devices, and lacked skilled resources are major restraints to the market’s growth.

Europe Automated Intravenous Oncology Compounding Devices MarketSegmentation Analysis

The Europe Automated Intravenous Oncology Compounding Devices Market is Segmented on the basis of Product Type, Technology, End-Use, And Geography.

Europe Automated Intravenous Oncology Compounding Devices Market, By Product Type

• Macro Devices• Micro Devices• Major/Micro Devices

Based on Product Type, The market is segmented into Macro Devices, Micro Devices, Major/Micro Devices. Macro devices are used in hospitals for radiation purposes, thus they are projected to dominate the market.

Europe Automated Intravenous Oncology Compounding Devices Market, By Technology

• Gravimetric Devices• Volumetric Devices

Based on Technology, The market is segmented into Gravimetric Devices and Volumetric Devices. In the treatment of cancer, gravimetric analysis employs quartz crystal microbalance (QCM) transducers and synthetic receptors, which is predicted to boost the market.

Europe Automated Intravenous Oncology Compounding Devices Market, By End-Use

• Hospitals• Chemotherapy Centers

Based on End-Use, The market is segmented into Hospitals and Chemotherapy Centers. Hospitals are expected to rise the most during the forecasted period due to an increased number of patients with Cancer, reduced medication errors, and cost-effectiveness.

Europe Automated Intravenous Oncology Compounding Devices Market, By Geography

• Germany• U.K.• France• Rest of Europe

On the basis of Geography, The Europe Automated Intravenous Oncology Compounding Devices Market is classified into Germany, U.K., France, and the Rest of Europe.

Key Players

The “ Europe Automated Intravenous Oncology Compounding Devices Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Comecer, Locioni, ICU Medical, Baxter Healthcare Corporation, SA Equashield, B. Braun Medical Inc., Omnicell Inc, Arxium, Grifols International, and Weibond Technologies.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In 2019, Fagron & JCB Laboratories opened one of the largest 503B human drug outsourcing facilities.

• In December 2018, Arxium introduced its cGMP RIVA IV, a fully automated compounding system for hospitals.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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