Medication Dispensing And Packaging Systems Market
PUBLISHED: 2023 ID: SMRC23924
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Medication Dispensing And Packaging Systems Market

Medication Dispensing & Packaging Systems Market Forecasts to 2030 – Global Analysis By Packaging Speed (Up To 20 PPM, 20 To 40 PPM and Above 40 PPM), Canister Capacity (Above 300 Canisters, 101-300 Canisters and Up To 100 Canisters), End User And By Geography

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4.8 (45 reviews)
Published: 2023 ID: SMRC23924

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Medication Dispensing & Packaging Systems Market is accounted for $341.44 million in 2023 and is expected to reach $713.37 million by 2030 growing at a CAGR of 11.1% during the forecast period. Medication Dispensing & Packaging Systems are critical components of healthcare infrastructure designed to manage and distribute medications accurately and safely. These systems encompass a range of technologies and solutions that facilitate the storage, packaging, labeling, and dispensing of medications in various healthcare settings. They enhance patient safety, improve adherence, and optimize workflow for healthcare professionals.

According to the study “Medication Errors,” published in StatPearls in June 2020, medication errors result in 7,000–9,000 deaths annually in the US. Thus, healthcare organizations have increased developments in pharmacy automation systems to avoid medication errors.

Market Dynamics:

Driver:

Rising medication errors and adverse events

Medication errors can have serious consequences for patients. The rising occurrence of medication errors and adverse events has boosted the adoption of medication dispensing and packaging systems. Automated systems can significantly reduce the likelihood of human errors in the medication administration process. They can accurately dispense the correct dosage of medication and provide alerts for potential drug interactions, ensuring patients receive the right treatment. Further, its enhanced medication verification, dose standardization, real-time monitoring and documentation are fuelling the market demand.

Restraint:

Complex integration

Medication Dispensing & Packaging Systems often have complex integration requirements as they vary widely in terms of size, specialty, and existing technology infrastructure. So dispensers need to be designed to store and dispense all types of medicines. Also, dispensers have limited installation space, which makes it difficult to arrange components optimally. In addition, if the size of the hole in the dispenser is not exact, more than one pill will be dispensed. All these factors make the system complex and therefore hamper the market demand.

Opportunity:

Growing popularity of personalized medication packaging

Personalized packaging provides clear and organized instructions on how and when to take medications. Customized packaging reduces the risk of medication errors. By tailoring packaging to the specific needs of the patient, including dosages and administration schedules, there is a lower chance of mistakes in medication administration. It demonstrates a commitment to patient-centered care and helps to prevent over-dispensing and reduces medication waste. Personalized medication packaging trends contribute to safer, more effective medication management, leading to improved patient outcomes and satisfaction.

Threat:

Resistance from healthcare professionals

Some healthcare professionals may be resistant to adopting automated medication dispensing systems due to concerns about job displacement or a lack of trust in the technology. Also, professionals who have been working with traditional dispensing methods for a long time may be unfamiliar with the operation of automated systems. Further, concerns about technical issues and downtime along with perceived cost and budget constraints are hampering the demand.

Covid-19 Impact

The COVID-19 pandemic had a notable impact on the medication dispensing & packaging systems market. The pandemic heightened the need for automation in healthcare settings to minimize human contact and reduce the risk of virus transmission. The shift towards telehealth and remote care increased dramatically during the pandemic. This led to a surge in demand for medication dispensing and packaging systems that could operate with minimal human intervention. In addition, emphasis on medication safety and accelerated adoption of digital health solutions boosted the market demand globally.

The above 300 canisters segment is expected to be the largest during the forecast period

The above 300 canisters segment is estimated to have a lucrative growth. Medical dispensers with capacities above 300 canisters are advanced systems designed to store and accurately dispense a wide range of medications in healthcare settings. These dispensers allow for efficient use of space, as they can store a large number of medications in a compact footprint. They are most suitable in long-term care facilities, multi-specialty clinics and complex medication regimens.

The long-term care pharmacy segment is expected to have the highest CAGR during the forecast period

The long-term care pharmacy segment is anticipated to witness the highest CAGR growth during the forecast period. Medication Dispensing & Packaging Systems play a crucial role in long-term care pharmacies by enhancing efficiency, accuracy, and patient safety. Long-term care residents often have complex medication regimens. Dispensing systems help ensure that the right medications are administered at the correct times, improving adherence and reducing the risk of missed or incorrect doses. They enhance patient care, improve operational efficiency, and contribute to the overall quality of healthcare in these settings.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to its growing healthcare infrastructure and rising geriatric population. Asia-Pacific is experiencing a demographic shift with an increasing elderly population. The prevalence of chronic diseases such as diabetes, cardiovascular diseases, and respiratory conditions is on the rise in this region. Also, governments in the region have been implementing various healthcare initiatives and regulations to improve patient safety & healthcare outcomes. Further, rapid urbanization, lifestyle changes, and rising medical tourism are driving the market growth in this region.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period. The United States and Canada represents a substantial portion of the global Medication Dispensing & Packaging Systems Market. The region had a well-established healthcare infrastructure, leading to a significant market size. The region was experiencing shifts towards value-based care and population health management. The aging population and the prevalence of chronic diseases in North America created a significant demand for effective medication management solutions.

Key players in the market

Some of the key players profiled in the Medication Dispensing & Packaging Systems Market include YUYAMA Co., Ltd., Swisslog Holding AG, Omnicell, Inc., JVM Co., Ltd., Global Factories B.V., Becton, Dickinson and Co., ARxIUM Inc., Takazono Corporation, Canon Lifecare Solutions, Nisshin Seifun Group, Capsa Healthcare, TOSHO Inc., Jones Healthcare Group and CVS Pharmacy.

Key Developments:

In June 2023, CVS Pharmacy launched Vitamin Dispenser that opens with a Fingertip. The CVS Health QuickServe Vitamin Dispensing System is comprised of two components: a reusable dispenser base and individual, pre-filled vitamin and supplement QuickServe cartridges.

In March 2023, Capsa Healthcare expanded its suite of NexsysADC automated dispensing cabinets. NexsysADC can accommodate huge volumes of any controlled or high-value medications or supplies in two new sizes of Controlled Access Module Drawers.

Packaging Speeds Covered:
• Up to 20 PPM
• 20 to 40 PPM
• Above 40 PPM

Canister Capacities Covered:
• Above 300 Canisters
• 101-300 Canisters
• Up to 100 Canisters

End Users Covered:
• Hospital Pharmacy
• Mail Order Pharmacy
• Long-term Care Pharmacy
• Retail Pharmacy

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Medication Dispensing & Packaging Systems Market, By Packaging Speed
5.1 Introduction
5.2 Up to 20 PPM
5.3 20 to 40 PPM
5.4 Above 40 PPM

6 Global Medication Dispensing & Packaging Systems Market, By Canister Capacity
6.1 Introduction
6.2 Above 300 Canisters
6.3 101-300 Canisters
6.4 Up to 100 Canisters

7 Global Medication Dispensing & Packaging Systems Market, By End User
7.1 Introduction
7.2 Hospital Pharmacy
7.3 Mail Order Pharmacy
7.4 Long-term Care Pharmacy
7.5 Retail Pharmacy

8 Global Medication Dispensing & Packaging Systems Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa

9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies

10 Company Profiling
10.1 YUYAMA Co., Ltd.
10.2 Swisslog Holding AG
10.3 Omnicell, Inc.
10.4 JVM Co., Ltd.
10.5 Global Factories B.V.
10.6 Becton, Dickinson and Co.
10.7 ARxIUM Inc.
10.8 Takazono Corporation
10.9 Canon Lifecare Solutions
10.10 Nisshin Seifun Group
10.11 Capsa Healthcare
10.12 TOSHO Inc.
10.13 Jones Healthcare Group
10.14 CVS Pharmacy

List of Tables
1 Global Medication Dispensing & Packaging Systems Market Outlook, By Region (2021-2030) ($MN)
2 Global Medication Dispensing & Packaging Systems Market Outlook, By Packaging Speed (2021-2030) ($MN)
3 Global Medication Dispensing & Packaging Systems Market Outlook, By Up to 20 PPM (2021-2030) ($MN)
4 Global Medication Dispensing & Packaging Systems Market Outlook, By 20 to 40 PPM (2021-2030) ($MN)
5 Global Medication Dispensing & Packaging Systems Market Outlook, By Above 40 PPM (2021-2030) ($MN)
6 Global Medication Dispensing & Packaging Systems Market Outlook, By Canister Capacity (2021-2030) ($MN)
7 Global Medication Dispensing & Packaging Systems Market Outlook, By Above 300 Canisters (2021-2030) ($MN)
8 Global Medication Dispensing & Packaging Systems Market Outlook, By 101-300 Canisters (2021-2030) ($MN)
9 Global Medication Dispensing & Packaging Systems Market Outlook, By Up to 100 Canisters (2021-2030) ($MN)
10 Global Medication Dispensing & Packaging Systems Market Outlook, By End User (2021-2030) ($MN)
11 Global Medication Dispensing & Packaging Systems Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
12 Global Medication Dispensing & Packaging Systems Market Outlook, By Mail Order Pharmacy (2021-2030) ($MN)
13 Global Medication Dispensing & Packaging Systems Market Outlook, By Long-term Care Pharmacy (2021-2030) ($MN)
14 Global Medication Dispensing & Packaging Systems Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
15 North America Medication Dispensing & Packaging Systems Market Outlook, By Country (2021-2030) ($MN)
16 North America Medication Dispensing & Packaging Systems Market Outlook, By Packaging Speed (2021-2030) ($MN)
17 North America Medication Dispensing & Packaging Systems Market Outlook, By Up to 20 PPM (2021-2030) ($MN)
18 North America Medication Dispensing & Packaging Systems Market Outlook, By 20 to 40 PPM (2021-2030) ($MN)
19 North America Medication Dispensing & Packaging Systems Market Outlook, By Above 40 PPM (2021-2030) ($MN)
20 North America Medication Dispensing & Packaging Systems Market Outlook, By Canister Capacity (2021-2030) ($MN)
21 North America Medication Dispensing & Packaging Systems Market Outlook, By Above 300 Canisters (2021-2030) ($MN)
22 North America Medication Dispensing & Packaging Systems Market Outlook, By 101-300 Canisters (2021-2030) ($MN)
23 North America Medication Dispensing & Packaging Systems Market Outlook, By Up to 100 Canisters (2021-2030) ($MN)
24 North America Medication Dispensing & Packaging Systems Market Outlook, By End User (2021-2030) ($MN)
25 North America Medication Dispensing & Packaging Systems Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
26 North America Medication Dispensing & Packaging Systems Market Outlook, By Mail Order Pharmacy (2021-2030) ($MN)
27 North America Medication Dispensing & Packaging Systems Market Outlook, By Long-term Care Pharmacy (2021-2030) ($MN)
28 North America Medication Dispensing & Packaging Systems Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
29 Europe Medication Dispensing & Packaging Systems Market Outlook, By Country (2021-2030) ($MN)
30 Europe Medication Dispensing & Packaging Systems Market Outlook, By Packaging Speed (2021-2030) ($MN)
31 Europe Medication Dispensing & Packaging Systems Market Outlook, By Up to 20 PPM (2021-2030) ($MN)
32 Europe Medication Dispensing & Packaging Systems Market Outlook, By 20 to 40 PPM (2021-2030) ($MN)
33 Europe Medication Dispensing & Packaging Systems Market Outlook, By Above 40 PPM (2021-2030) ($MN)
34 Europe Medication Dispensing & Packaging Systems Market Outlook, By Canister Capacity (2021-2030) ($MN)
35 Europe Medication Dispensing & Packaging Systems Market Outlook, By Above 300 Canisters (2021-2030) ($MN)
36 Europe Medication Dispensing & Packaging Systems Market Outlook, By 101-300 Canisters (2021-2030) ($MN)
37 Europe Medication Dispensing & Packaging Systems Market Outlook, By Up to 100 Canisters (2021-2030) ($MN)
38 Europe Medication Dispensing & Packaging Systems Market Outlook, By End User (2021-2030) ($MN)
39 Europe Medication Dispensing & Packaging Systems Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
40 Europe Medication Dispensing & Packaging Systems Market Outlook, By Mail Order Pharmacy (2021-2030) ($MN)
41 Europe Medication Dispensing & Packaging Systems Market Outlook, By Long-term Care Pharmacy (2021-2030) ($MN)
42 Europe Medication Dispensing & Packaging Systems Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
43 Asia Pacific Medication Dispensing & Packaging Systems Market Outlook, By Country (2021-2030) ($MN)
44 Asia Pacific Medication Dispensing & Packaging Systems Market Outlook, By Packaging Speed (2021-2030) ($MN)
45 Asia Pacific Medication Dispensing & Packaging Systems Market Outlook, By Up to 20 PPM (2021-2030) ($MN)
46 Asia Pacific Medication Dispensing & Packaging Systems Market Outlook, By 20 to 40 PPM (2021-2030) ($MN)
47 Asia Pacific Medication Dispensing & Packaging Systems Market Outlook, By Above 40 PPM (2021-2030) ($MN)
48 Asia Pacific Medication Dispensing & Packaging Systems Market Outlook, By Canister Capacity (2021-2030) ($MN)
49 Asia Pacific Medication Dispensing & Packaging Systems Market Outlook, By Above 300 Canisters (2021-2030) ($MN)
50 Asia Pacific Medication Dispensing & Packaging Systems Market Outlook, By 101-300 Canisters (2021-2030) ($MN)
51 Asia Pacific Medication Dispensing & Packaging Systems Market Outlook, By Up to 100 Canisters (2021-2030) ($MN)
52 Asia Pacific Medication Dispensing & Packaging Systems Market Outlook, By End User (2021-2030) ($MN)
53 Asia Pacific Medication Dispensing & Packaging Systems Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
54 Asia Pacific Medication Dispensing & Packaging Systems Market Outlook, By Mail Order Pharmacy (2021-2030) ($MN)
55 Asia Pacific Medication Dispensing & Packaging Systems Market Outlook, By Long-term Care Pharmacy (2021-2030) ($MN)
56 Asia Pacific Medication Dispensing & Packaging Systems Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
57 South America Medication Dispensing & Packaging Systems Market Outlook, By Country (2021-2030) ($MN)
58 South America Medication Dispensing & Packaging Systems Market Outlook, By Packaging Speed (2021-2030) ($MN)
59 South America Medication Dispensing & Packaging Systems Market Outlook, By Up to 20 PPM (2021-2030) ($MN)
60 South America Medication Dispensing & Packaging Systems Market Outlook, By 20 to 40 PPM (2021-2030) ($MN)
61 South America Medication Dispensing & Packaging Systems Market Outlook, By Above 40 PPM (2021-2030) ($MN)
62 South America Medication Dispensing & Packaging Systems Market Outlook, By Canister Capacity (2021-2030) ($MN)
63 South America Medication Dispensing & Packaging Systems Market Outlook, By Above 300 Canisters (2021-2030) ($MN)
64 South America Medication Dispensing & Packaging Systems Market Outlook, By 101-300 Canisters (2021-2030) ($MN)
65 South America Medication Dispensing & Packaging Systems Market Outlook, By Up to 100 Canisters (2021-2030) ($MN)
66 South America Medication Dispensing & Packaging Systems Market Outlook, By End User (2021-2030) ($MN)
67 South America Medication Dispensing & Packaging Systems Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
68 South America Medication Dispensing & Packaging Systems Market Outlook, By Mail Order Pharmacy (2021-2030) ($MN)
69 South America Medication Dispensing & Packaging Systems Market Outlook, By Long-term Care Pharmacy (2021-2030) ($MN)
70 South America Medication Dispensing & Packaging Systems Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
71 Middle East & Africa Medication Dispensing & Packaging Systems Market Outlook, By Country (2021-2030) ($MN)
72 Middle East & Africa Medication Dispensing & Packaging Systems Market Outlook, By Packaging Speed (2021-2030) ($MN)
73 Middle East & Africa Medication Dispensing & Packaging Systems Market Outlook, By Up to 20 PPM (2021-2030) ($MN)
74 Middle East & Africa Medication Dispensing & Packaging Systems Market Outlook, By 20 to 40 PPM (2021-2030) ($MN)
75 Middle East & Africa Medication Dispensing & Packaging Systems Market Outlook, By Above 40 PPM (2021-2030) ($MN)
76 Middle East & Africa Medication Dispensing & Packaging Systems Market Outlook, By Canister Capacity (2021-2030) ($MN)
77 Middle East & Africa Medication Dispensing & Packaging Systems Market Outlook, By Above 300 Canisters (2021-2030) ($MN)
78 Middle East & Africa Medication Dispensing & Packaging Systems Market Outlook, By 101-300 Canisters (2021-2030) ($MN)
79 Middle East & Africa Medication Dispensing & Packaging Systems Market Outlook, By Up to 100 Canisters (2021-2030) ($MN)
80 Middle East & Africa Medication Dispensing & Packaging Systems Market Outlook, By End User (2021-2030) ($MN)
81 Middle East & Africa Medication Dispensing & Packaging Systems Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
82 Middle East & Africa Medication Dispensing & Packaging Systems Market Outlook, By Mail Order Pharmacy (2021-2030) ($MN)
83 Middle East & Africa Medication Dispensing & Packaging Systems Market Outlook, By Long-term Care Pharmacy (2021-2030) ($MN)
84 Middle East & Africa Medication Dispensing & Packaging Systems Market Outlook, By Retail Pharmacy (2021-2030) ($MN)

List of Figures

Figure 1 Global Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 2 North America Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 3 US Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 4 Canada Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 5 Mexico Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 6 Europe Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 7 Germany Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 8 UK Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 9 Italy Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 10 France Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 11 Spain Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 12 Rest of Europe Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 13 Asia Pacific Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 14 Japan Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 15 China Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 16 India Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 17 Australia Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 18 New Zealand Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 19 South Korea Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 20 Rest of Asia Pacific Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 21 South America Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 22 Argentina Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 23 Brazil Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 24 Chile Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 25 Rest of South America Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 26 Middle East & Africa Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 27 Saudi Arabia Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 28 UAE Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 29 Qatar Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 30 South Africa Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)
Figure 31 Rest of Middle East & Africa Medication Dispensing & Packaging Systems Market Outlook (2021-2030) ($MN)

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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