Intravenous medication is one of the crucial aspects of hospital and pharmacy, and preparation of these requires utter precision as the patient’s wellbeing is directly affected by the compounded preparations. Increasing intravenous preparations use in hospitals is increasing the demand for intravenous solution compounders. Intravenous solution compounders are choice of instrument in compounding of the intravenous solution or parenteral drug preparation. Intravenous solution compounders are the automated compounding and pumping devices which allows preparation of sterile solution according to the specific requirement in the pharmacy and hospitals. The intravenous solution compounders consists of the base solution reservoir, diluents set which offers increased feasibility in compounding the solution. Intravenous solution compounders performs the procedure in two step process or in one step process, where micro and macro solutions can be processed in one step or in two-steps, one step process eliminates the chance of possible contamination in intravenous solution compounders. The process of intravenous solution compounders is based on gravimetric principal or volumetric principal.
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Intravenous Solution Compounders Market: Drivers and Restraints
Intravenous Solution Compounders are mainly utilized to reduce the risk of contamination while preparing the sterile preparation. The rising awareness about the safety of patient and complexity in the compounding of the intravenous solution is anticipated to propel the market growth for intravenous solution compounders. The major challenges in compounding intravenous solution is complexity in verification of solution prepared and process followed is technically very intricate. The elimination of verification and easy technicality is anticipated to drive the market for intravenous solution compounders. The major sector arising in utilization of the intravenous solution compounders is total parenteral nutrition coupled with Increasing number of patient specific dose is anticipated to impel the market demand for intravenous solution compounders. The added advantages of intravenous solution compounders in reducing the risk of injectables medication errors specifically in cancer chemotherapy preparation is anticipated to fuel the market for intravenous solution compounders market. However, high coast associated with intravenous solution compounders and requirements of particular dispensing on daily basis is anticipate the restraint the growth of the intravenous solution compounders market.
Intravenous Solution Compounders Market: Segmentation
Based on Modality type, the Intravenous Solution Compounders market is segmented into:
Based on End User, the Intravenous Solution Compounders market is segmented into:
- Specialty Clinics
- Inpatient Pharmacies
Intravenous Solution Compounders Market: Overview
The global Intravenous Solution Compounders market is witnessing a steady growth due to increasing awareness among the end user in maintaining high standards and precaution methods while preparing the intravenous solutions. The demand for demand for intravenous compounders is mainly arising from developed countries due to well-developed healthcare infrastructure and high healthcare standards. The manufacturers in the intravenous solution compounders is focused on continuous research and development to increase the effectives of the intravenous solution compounders device. The development of countertop devices with minimal technical difficulty is offering the edge for countertop intravenous solution compounders device in the market. The advantage of intravenous solution compounders in compounding robotics and enlarge intravenous preparation coupled with automation is anticipated to offer manufactures a niche market to target.
Intravenous Solution Compounders Market: Region-Wise Overview
The global Intravenous Solution Compounders market is segmented into the following regions – North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific Excluding China & Japan, China, Japan and the Middle East & Africa. North America is the dominant regional market for Intravenous Solution Compounders due to rising awareness for the risk associated with manual compounding of the intravenous solutions in the region. In North America, the U.S. is the dominating market due to high healthcare standards and regulatory guiding for compounding of sterile preparations. Europe Intravenous Solution Compounders market is anticipated to grow substantially due to rising initiatives by the government to minimize the risk of contamination and errors in sterile compounding. APAC is a fast-growing regional market for Intravenous Solution Compounders due to increasing demand for standards compounding instruments and raising awareness for parenteral solutions safety in the countries like India and china. Growth in the Latin America and the Middle East and Africa is growing steadily due to demand for total parenteral nutrition.
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Intravenous Solution Compounders Market: Key Participants
Examples of some of the key participants in the Intravenous Solution Compounders market are ARxIUM, Baxa Corporation., ICU Medical Inc., B.Braun Medical Inc, Baxter Healthcare., Grifols., Hospira Inc and The Matrix Company Among others.