Baxter International Inc., Comecer, and Grifols, S.A. – Notable Market Participants in Automated Compounding Systems Industry
An automated compounding system is a machine that consolidates one or more drug solutions to a final container for patient administration. Automated compounding system helps avoid medication error that occurs due to a variety of factors such as poor management communication between the physician and pharmacist, critical storage practices in pharmacies, and confusion that was arising out of the use of similar labels. Factors such as the growing adoption of chemotherapy and personalized medication, rising need to minimize medication errors are expected to account for the growth of the market.
The most notable market participants are Baxter International Inc., Comecer, and Grifols, S.A, OMNICELL INC., and EQUASHIELD occupying a considerable share of the market owing to their offerings to the market.
Market leaders are involved in inorganic activities such as partnerships and acquisitions to improve their performance and consolidate the market position. For instance, in October 2017, OMNICELL INC. acquired InPharmics, a provider of advanced pharmacy informatics solutions to hospital pharmacies. This acquisition added clinical and compliance analytics to the company’s product portfolio.
Prominent players in the automated compounding systems market are also focusing on organic strategies such as product launch, product approval, geographic and manufacturing expansion, and others. These strategies are helping significant players to strengthen their market positions along with widening their geographic footprints. Additionally, various companies are also undergoing other strategic alliances such as acquisitions and others to garner their significance and remain competitive in the market. Few of the essential vital developments from the industry are mentioned below:
|
Year |
News |
Region |
|
2019 |
Equashield introduced its manual and automated CSTD solutions to the Netherlands. For the first time, the company will sell its safety products directly to healthcare facilities in Europe, with Aagato Medical Supporting Logistics |
Europe |
|
2019 |
NewIcon company closed a deal with Tampere University Hospital to supply the automated dispensing system |
Europe |
|
2018 |
Equashield received its first purchase orders for its Equashield Pro closed system compounding robot. The company will install ten additional robots at leading European hospitals in Austria, Italy, Greece and Spain. |
Europe |
