Market Data Forecast

Pharmacy Automation System Market to Create a New Trend in Drug Tracking, Says Market Data Forecast

Pharmacy Automation System Market size was around USD 3.6 billion in 2016. It is expected to grow at a CAGR of 8.3% to reach USD 5.36 billion by 2021.

 

Hyderabad, India -- (SBWIRE) -- 03/14/2018 -- Pharmacy automation systems are the systems used for inpatient available and outpatient pharmacies to automate the habitual task of a pharmacist. Therefore, those systems automates the entire mechanical strategies of dealing with and distributing medicinal drugs. However, these systems also help in measuring and compounding medications, tracking and updating affected person records in databases, and stock control.

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Pharmacy Automation System Market size was around USD 3.6 billion in 2016. It is expected to grow at a CAGR of 8.3% to reach USD 5.36 billion by 2021. The rising adoption and developing call for automatic solutions in pharmacies coupled with socio-monetary elements which include increasing ailment incidences because of developing ageing populace are some growth drivers. There may be a growing inclination of pharmacists for automation systems because it automates time-ingesting and recurring obligations consisting of medication compounding, packaging, doling out, storage and retrieval, and so forth. Additionally, these automation solutions streamline pharmacy workflow and also lessen the chance of mistakes.

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Others prominent growth drivers are product innovations and growing rates of hospitalizations. Through pharmacy automation system, hospitals can manage and track tablets, materials and fitness data related to victims, thus replenishing simplest items which are needed. This growing demand for effective and transparent tracking system is predicted to pressure the sales of pharmacy automation system as it appropriately documents medicinal drug expiry dates and physical portions. But, the price of implementation and installation of pharmacy automation system is a main factor restraining the market growth.

The geriatric population and increased pharmaceutical drug usage resulted in the major market revenue in North America. However, the concerned health practices and advent of healthcare IT boosts the market growth in Latin America and the Asia Pacific.

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Major corporates are Becton, Dickinson, and Company (U.S.), Omnicell, Baxter International, Inc. (U.S.), ScriptPro LLC (U.S.), KUKA AG (Germany), TCGRx Pharmacy Workflow Solutions (U.S.), RxSafe, Inc. (U.S.), Cerner Corporation (U.S.), Capsa Healthcare (U.S.), Parata Systems LLC (U.S), LLC (U.S.), ARxIUM Inc. (U.S.) and Talyst systems LLC. (U.S.).

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