Automated Compounding Device (Oncology) Market: Current Analysis and Forecast (2023-2030)

The automated compounding device oncology market is a rapidly evolving sector within the broader healthcare industry. These devices are designed to automate and streamline the preparation of sterile medications, including chemotherapy drugs, for cancer patients. As precision and accuracy are critical in oncology treatments, automated compounding devices play a vital role in enhancing patient safety and optimizing medication management. The automated compounding device oncology market experiences continuous technological advancements, such as improved user interfaces, wireless connectivity, and enhanced safety features. These innovations are designed to provide healthcare professionals with cutting-edge tools to deliver better patient outcomes. Additionally, increasing awareness about automated compounding systems among pharmacists and the introduction of novel robotic technology automation in compounding systems are likely to increase the growth of the automated compounding systems market during the forecast period.

The Automated Compounding Device (Oncology) Market is expected to grow at a strong CAGR of 7.8% during the forecast period owing to the increasing prevalence of cancer globally. The International Agency for Research on Cancer (IARC), in its report GLOBOCAN, has stated that approximately 19.3 million new cancer cases and about 10 million deaths related to cancer were recorded in 2020, across the globe. The IARC has estimated that new cancer cases are expected to rise by 47% all over the globe from 2020 to 2040. Thus, the surge in the incidences of cancer will drive the adoption of chemotherapeutic drugs, thus driving the growth of automated compounding device (oncology) market during the forthcoming years.

Based on the technology, the market is bifurcated into gravimetric compounding system and volumetric compounding system. In 2022, gravimetric compounding system held a dominant share of the market. Gravimetric devices provide more accurate and precise measurements, reducing the risk of dosage errors and enhancing patient safety during cancer treatment. The growing demand for personalized cancer treatments is driving the adoption of gravimetric compounding devices in oncology. These treatments often require complex and precise combinations of drugs, which can be challenging to achieve using manual compounding methods. Gravimetric compounding devices offer a more efficient and accurate way to prepare these complex drugs, which is driving their adoption in the oncology market.

By end user, the market is segmented into hospitals, chemotherapy centers, and others. The chemotherapy centers is anticipated to grow with high CAGR during the forthcoming period. Chemotherapy centers are specialized facilities that provide cancer treatment, and they rely on automated compounding devices to ensure that chemotherapy drugs are prepared accurately and safely. Chemotherapy centers typically have a large number of patients receiving chemotherapy treatment, and they require a high volume of chemotherapy drugs to meet patient demand.

For a better understanding of the market adoption of the dental clensing tablet industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America held a dominant share of the market and is expected to do so even in the forecast period. Several factors including the growing demand for personalized cancer treatments, the increasing use of automation in healthcare, improved patient outcomes, and growing demand for oncology compounding services. The healthcare industry is increasingly turning to automation to improve efficiency and reduce costs, and automated compounding devices can help to reduce the time and resources required to prepare chemotherapy drugs.

Some of the major players operating in the market include: Baxter; B. Braun SE; COMECER S.p.A.; ARxIUM; Omnicell; Grifols, S.A.; Weibond Technology; EQUASHIELD; ICU Medical, Inc; and NewIcon.