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Pune, India -- (SBWIRE) -- 07/31/2018 -- The Pharmacy Automation market report contains data for historic year 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024. The pharmacy automation market accounted to USD 3.25 billion in 2016 growing at a CAGR of 8.5% during the forecast period of 2017 to 2024.
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Pharmacy automation is an automated mechanical process of handling and distributing medications which helps to manage and track inventory, dispense medications accurately and efficiently resulting into additional time for clinical intervention. These automated systems are widely used in hospitals, clinics, and pharmacies.
Competitive Analysis: Global Pharmacy Automation Market
The pharmacy automation market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of pharmacy automation market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors: Global Pharmacy Automation Market
Some of the major players operating in pharmacy automation market are Omnicell, Inc., Becton, Dickinson and Company, Baxter, Cerner Corporation, KUKA Aktiengesellschaft, Capsa Healthcare, Parata Systems LLC, ScriptPro LLC, Talyst, LLC, ARxIUM, TCGRx, RxSafe, LLC, Swisslog, McKesson Corporation, AMERISOURCEBERGEN CORPORATION, Health Robotics S.r.l., Yuyama Co., Ltd, ForHealth Technologies, Fulcrum Inc, GSE Scale Systems, Pearson Medical Technologies LLC, Innovation PharmaAssist Robotics, Medacist Solutions Group, LLC, and TOUCHPOINT MEDICAL, among others.
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Major market drivers and restraints:
- Rising adoption and growing need to minimize medication errors
- Decentralization of pharmacies
- Rising labor cost
- High costs to adopt pharmacy automation systems
Market Segmentation: Global Pharmacy Automation Market
- By Product, the market for pharmacy automation market is segmented into automated medication dispensing systems, automated packaging and labeling systems, automated table-top counters, and automated storage and retrieval systems. The automated medication dispensing systems segment is further sub-segmented into robots, carousels, automated unit-dose pharmacy-based, ward-based. The automated packaging and labeling systems are further sub-segmented into unit-dose and multi-dose.
- By application, the pharmacy automation market is segmented into drug dispensing & packaging, drug storage, and inventory tracking.
- On the basis of end-users, the pharmacy automation market is segmented into inpatient pharmacies, outpatient pharmacies, retail pharmacies, and pharmacy benefit management organizations and mail-order pharmacies.
- On the basis of geography, pharmacy automation market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa.
- Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Related Report:
The Electronic Medical Records (EMR) Market accounted to USD 13.6 billion in 2016 growing at a CAGR of 10.0% during the forecast period of 2017 to 2024.
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