Transparency Market Research Report Added "Pharmacy Automation Systems Market" to its database.
Albany, NY -- (SBWIRE) -- 08/27/2015 -- A new research study on the global market for pharmacy automation systems has been recently published by Transparency Market Research. The report, titled "Pharmacy Automation Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018", states that the global market for pharmacy automation systems had a net worth of US$4.7 billion in 2011. Observing good growth at a CAGR of 7.3% over the years between 2012 and 2018, the market is anticipated to reach US$7.8 billion in 2018.
The report presents a holistic view of the global market for automated technologies converged in traditional pharmacy systems. This fusion of advanced automation technologies with the traditional pharmacy system has resulted in the occurrence of fewer medication errors, a stark reduction in medication costs, appropriate control over pharmacy inventory, and faster delivery time over the years. Rising awareness about these benefits of pharmacy automation systems in the coming years will prove to be the key driving force for the global pharmacy automation systems market. The market growth is also expected to rise due to the mounting cost pressures on healthcare providers due to regulatory pressures and reducing medical reimbursements.
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The report segments the global pharmacy automation market according to three chief criteria: types of automation systems based on technology, key end users, and key regional markets. The typical pharmacy processes and systems automated in the market, covered by the report, include automated dispensing systems, storage and retrieval systems, automated packaging and labeling, automated compounding systems, and table-top counters. Of these, the market for the segment automated medication dispensing systems held nearly 48% share of the market in 2011, the largest among all other automation systems studied by the report. Revenue generated by this market segment was nearly US$2.3 billion in the same year. The report states that this market segment will grow at a CAGR Of 6.7% over report's forecast, and reach US$3.6 billion by 2018.
Of the key end users of the global pharmacy automation system studied by the report, hospital pharmacies and retail pharmacies, the market earns a major portion of its revenues from hospital pharmacies, especially the ones located in large hospitals with more than 400 beds. A rising trend of decentralized or hybrid pharmacies is considered a chief factor leading to increased demand for pharmacy automation systems from the hospital pharmacy segment. However, the high deployment costs of these systems have led to reluctant demand from some emerging economies.
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The healthcare industry of North America, usually the fist adopter of novel technologies, currently accounts for over half of the overall share of the global pharmacy automation market.
Browse the full Pharmacy Automation Systems Market (Table-Top Counters, Medication Dispensing, Packaging and Labelling, Storage, Retrieval and Compounding) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018 report at http://www.transparencymarketresearch.com/pharmacy-automation-systems.html
The market features several emerging as well as established players in the sections of different automation technologies and solutions. CareFusion Corp., currently dominates the global pharmacy automation systems market while Kirby Lester is the chief provider of automated table-top counter systems. Other key businesses operating in the marketplace include McKesson Corp, Swisslog Holding Ltd., AmerisourceBergen Corp, Omnicell Inc, Health-Robotics S.R.L, and ScriptPro.
About Transparency Market Research
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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