North America and Europe are expected to dominate the global pharmacy automation systems market during the forecast period, while the emerging countries in Asia-Pacific and Latin America are projected to offer significant growth opportunities.
Portland, OR -- (SBWIRE) -- 06/30/2018 -- Pharmacy Automation Systems Market Report, published by Allied Market Research, forecasts that the global market was valued at $3,312 million in 2015, and is projected to reach $5,602 million by 2022, growing at a CAGR of 7.8% from 2016 to 2022.The automated medication dispensing systems held over half of the share of the global market in 2015.
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Pharmacy automation systems manage dispensing, storing, filling, capping, and labeling of medications and securely store patients data. Constant technological developments, long-term cost savings associated with these systems, growth in adoption in emerging nations, rise in need to reduce medication errors, and increase in medical tourism in developing countries drive the growth of the market. However, high capital investment is projected to restrain the market growth during the forecast period.
Detailed segmentation of the global pharmacy automation systems market is provided in terms of product type, end user, and geography. Based on product type, the market is divided into automated medication dispensing systems, automated storage & retrieval systems, automated packaging & labeling systems, tabletop tablet counters, and automated compounding devices. The automated medication dispensing segment held the largest share of 49.0% in 2015, owing to high these machines due to their point-of-care availability, capability to control storage & distribution, and maintain record of medicines.
By end user, the market is categorized into retail pharmacy, hospital pharmacy, and others (long-term care pharmacy, clinic pharmacy, and mail order pharmacy). Pharmacy automation systems held over half of the share in 2015 owing to major use in hospitals to package, dispense, and label medicines, and are expected to continue this trend in the future.
Key Findings of the Pharmacy Automation Systems Market
1. Automated medication dispensing systems was the leading segment in 2015.
2. North America is projected to grow at a CAGR of 7.5% from 2016 to 2022.
3. Asia-Pacific is expected to grow at the highest CAGR.
4. China is expected to grow at the highest CAGR in the Asia-Pacific pharmacy automation systems market.
5. France is expected to grow with the highest growth rate during the analysis period among the European countries.
6. Hospital held the largest market share o in 2015.
Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America generated the highest revenue, accounting for over half of the market share in 2015, owing to rise in expenditure to upgrade healthcare systems and high demand for technologically advanced devices for rapid & accurate distribution of medicines. However, Asia-Pacific is projected to grow at the highest CAGR during the analysis period, owing to rise in healthcare expenditure, increase in per capita income, and improvement in healthcare infrastructure.
The report provides a comprehensive analysis the key players operating in this market, including Baxter International Inc.; Becton, Dickinson and Company; Cerner Corporation; Capsa Healthcare; McKesson Corporation; Omnicell Inc.; ScriptPro LLC; Swisslog Holdings AG; Talyst, Inc.; and Yuyama Co., Ltd.
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