Valley Cottage, NY -- (SBWIRE) -- 10/22/2020 -- This report by Future Market Insights (FMI) examines the global pharmacy automation systems market for the period 2016–2026. The primary objective of the report is to offer updates and information related to market opportunities in the global pharmacy automation systems market. The global pharmacy automation systems market report begins by defining pharmacy automation systems and various types of systems used for automating the entire process in pharmacies. It is followed by an overview of market dynamics of the global pharmacy automation systems market, which includes FMI analysis of key trends, drivers, restraints and opportunities along with factors important for vendor selection criteria that is influencing the growth of the pharmacy automation systems market.

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Impact analysis of key growth drivers and restraints based on a weighted average model have been included in the global pharmacy automation systems market report after detailed analysis of individual regions to better equip readers with meaningful insights on ongoing technological developments in the global pharmacy automation systems market.

Global pharmacy automation system market segmentation

To understand and assess opportunities in the global pharmacy automation systems market, we have categorised the report into four sections based on market segmentation as under.

By Product

Medication Dispensing Cabinets
Packaging and Labelling System
IV Pharmacy
Robotic Dispensing System
Carousel Storage Systems
Tablet Splitters

By Application

Drug Dispensing and Packaging
Drug Storage
Inventory Management

By End-user

Hospital Pharmacies
Clinic Pharmacies
Retail Pharmacies
Mail Order Pharmacies
Pharmaceutical SMEs

By Region

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific Ex Japan (APEJ)
Japan
Middle East and Africa

The next section of the report highlights the global pharmacy automation systems market by region and provides market outlook for 2016–2026. The report also discusses key regional trends contributing to the revenue growth of the pharmacy automation systems worldwide, as well as analyses the impact of drivers and restraints in each region.

In the final section of the report on the global pharmacy automation systems market, a competitive landscape is included to provide report audiences with a dashboard view, based on categories of systems available in the pharmacy automation systems market space and key differentiators. Key categories of providers covered in the report are companies manufacturing and developing pharmacy automation systems. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key companies in the pharmacy automation systems market. Report audiences can gain segment-specific company insights to identify and evaluate key competitors based on in-depth assessment of capabilities and successes in pharmacy automation systems marketplace.

Our Research Methodology

To ascertain the global pharmacy automation systems market size, we have considered revenue generated by companies operating in the global pharmacy automation system market. The forecast presented here assesses the total revenue by value across the global pharmacy automation systems market. In order to offer an accurate forecast, we started by sizing up the current market, which forms the basis of how the pharmacy automation systems market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome of three different types of analysis based on supply side, downstream industry demand, and the economic envelope.

In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse it based on key parameters such as year-on-year (Y-o-Y) growth rates to understand the predictability of the market, and to identify the right opportunities across the global pharmacy automation systems market.

The global pharmacy automation systems market segments – by product, application, end users and region are analysed in terms of Basis Point Share (BPS) to understand individual segments' relative contribution to market growth. This detailed level of information is important for identifying various key trends in the pharmacy automation systems market.

Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective, in the global pharmacy automation systems market.

To understand key growth segments in terms of growth and sales of pharmacy automation systems globally, Future Market Insights developed the pharmacy automation systems market 'Attractiveness Index'. The resulting index is expected to help providers identify real market opportunities in the overall pharmacy automation systems market.

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Analyst Perspective

We have observed some interesting trends while conducting our research for this report. For instance, retail pharmacies are highly likely to install medication detection machines as these machines check each pouch using high speed cameras, ensuring that only the concerned pills are taken by the patient. The other trend we have noticed is that more number of hospitals and retail pharmacies are installing automated dispensing machines mainly because of the low inventory costs, reduced labour costs, reduction of stock-outs and increased patient safety facilitated through barcode verification. Acquisition and product modification is another notable trend responsible for robust development in the global pharmacy automation systems market.