Medical Pouch Inspection Systems Market – Key Research Findings
- The global medical pouch inspection systems market size in 2018 – nearly US$ 26 Mn.
- The medical pouch inspection systems market is projected to grow nearly 2.2x times during the next ten years.
- Europe and North America are expected to remain among leading regions in terms of market value share, accounting for more than half of the global medical pouch inspection systems share.
- North America is expected to create high incremental opportunity for the medical pouch inspection systems market by the end of the forecast period.
- Europe is expected to be one of the key regions in terms of the matured pharmaceutical industry, which will translate into growth opportunities for the medical pouch inspection systems market.
- The share of table top medical inspection systems is expected to increase by the end of 2029 due to the increasing demand from the hospital pharmacies and retail pharmacies.
Medical Pouch Inspection Systems Market Structure Analysis<
- Many medical pouch inspection system manufactures are engaging in product launches and acquisitions in order to increase their global reach.
- Europe and North America are estimated to account for high share in terms of value of the global medical pouch inspection systems during the forecast period. Bargaining power of suppliers in the East Asian region is high as compared to other regions, as there are less number of players in the medical pouch inspection systems market.
Consumer Convenience: Medical Pouches Offer Vital Information about the Drug
Usage of medical pouches has increased owing to the growth of the pharmaceutical industry. Medical packaging and pouches are preferred by consumers as they provide important information about the drug, for example, expiry date of the medicine, prescription, time & date of intake of medicines, name of the patient, and other details.
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The Medical Pouch Inspection System Market Pegged to Grow 2.2X between 2019 and 2029
The medical pouch inspection systems market is expected to register significant growth during the next ten years, fueled by the growing automation that reduces workforce, and to some extent the growing pharmaceutical industry in emerging regions.
Enhanced Production Capabilities in Emerging Regions Imply More Opportunities
The North American region is expected to hold a prominent market share in the global medical pouch packaging inspection systems market. However, developing countries in South & East Asia will lead in terms of the growth rate during the forecast period. Middle East & Africa and Oceania will slacker during the next five years. Countries such as China and India, are expected to represent higher incremental opportunities in their respective regions.
Key players who are strategically expanding their sales through acquisitions and expansions in the Asian region are expected to boost the growth of the medical pouch inspection systems market and increase the value share of medical pouch inspection systems in the region.
The Broader Perspective
The demand and supply analysis implies that the global medical pouch inspection systems market is driven by the growth of the pharmaceutical market. Value chain participants in the global medical pouch inspection systems market are focusing on adopting business models and growth strategies in synchronization with automation of medical pouch inspection systems. The retail pharmacy segment in the medical pouch inspection systems market is expected to create a high incremental opportunity during the forecast period.
How Growth will Unfold
The 50 to 75 ppm operating speed segment is expected to witness a high growth rate during the forecast period. The demand for medical pouches is increasing for packaging of prescription drugs.
MEDICATION POUCH INSPECTION SYSTEMS MARKET TAXONOMY
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
- 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
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa