In Future Market Insights’ (FMI) latest report, “Medication Pouch Inspection Systems Market: Stronger Packaging Compliance Requisites Pushing Demand,” it was found that the global medical pouch inspection systems market is estimated to expand at an approximate CAGR of 8% during the forecast period of 2019-2029, in terms of revenue. This is due to numerous factors, which are highlighted in the report. The global medical pouch inspection systems market size was nearly $26 million in 2018.
In the report, growth of the medical pouch inspection systems market is concluded to be highly proportional to the growth of the pharmaceutical industry. In FMI’s analysis, the medical pouch inspection systems market is expected to remain at a strong position at a global level. Medical pouch inspection systems check medicines packaged in the medication pouch, distributed by medication dispensing machines. However, the high cost of medication pouch dispensing systems is found to restrain the growth of the medical pouch inspection systems market.
Yet, FMI also reports that about 5% of the patients in the world require medical attention due to wrong intake of medication. This has increased the importance of pharmacy automation technologies, such as medication dispensing systems and medication pouch inspection systems, to minimize the probability of error in medication received by the patient. Most of the medical pouch inspection systems are capable of performing inspection with around 98% accuracy, which means that the need of inspection by pharmacists lowers to approximately two out of 100 pouches. Therefore, medical pouch inspection systems not only reduce the probability of error in medication dispensing, but also reduce the requirement of workforce by increasing the pace and productivity at a pharmacy.
Further, according to the report, machines dispensing medication in pouches are preferred by consumers as medical pouches provide vital information about the drug such as prescription, expirartion date, name of the patient, time and date of intake, and some other details. Therefore, the medical pouch inspection systems are claimed to enhance the consumer experience, FMI says.
Most of the medical pouch inspection systems detect tablets on four general parameters such as color, shape, size, and number of tablets. TCGRx has developed medical pouch inspection systems that inspect tablets in medication pouches on 12 parameters, which include surface of the tablet, distance to center, length, width, contour, roundness, standard color deviation, sequence, and others. FMI says that the accuracy in the inspection of medication is thus increased with the number of parameters, and probability of error in medication dispensing is then reduced. Medical pouch inspection systems provided by JVM are integrated with medication registering systems, designed to store the data about the medication pouches inspected by the machine.
Manufacturers in the medical pouch inspection systems market, according to FMI’s report, are adopting collaboration strategies to expand their global reach. It also shows that leading players are offering a wide range of options for pharmaceutical end users such as medical pouch inspection systems with capacities including up to 50 pouches per minute (ppm), 50-75 ppm, and more than 75 ppm for enhanced efficiency.
JVM, TCGRx, Arxium, Ziuz Holding, Parata Systems, and Global Electronics are some of the key companies actively operating in the global medication pouch inspection systems market landscape, according to FMI.