North America continues to lead the market, followed by Europe, Asia-Pacific, and RoW. However, the market in the APAC region is expected to grow at a higher pace from 2014 to 2019, due to the increased demand for pharmacy automation systems in the emerging countries such as China and India.
Pune, India -- (SBWIRE) -- 04/01/2016 -- The report "Pharmacy Automation Systems Market by product type (Medication Dispensing Systems, Packaging and Labeling Systems, Table-top Counters) by End-user (Inpatient Pharmacy Automation, Outpatient Pharmacy Automation) - Global Forecasts & Trends to 2019", the global pharmacy automation systems market is estimated at $3,165.9 million in 2014 and is expected to register a CAGR of 7.6% to reach $4,566.2 million by 2019.
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The global pharmacy automation systems market has witnessed considerable growth over the past few years and is further expected to grow. The market is segmented by product, end user, and by geography. On the basis of product, the market includes automated medication dispensing systems, automated packaging and labeling systems, automated medication compounding systems, storage and retrieval systems, table-top counters, and other systems.
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Whereas, on the basis of end users, the market includes the inpatient pharmacy units, outpatient pharmacy units, retail pharmacies, and pharmacy benefit management organizations and other mail-order setting. The inpatient pharmacy automation market is further classified as acute care setting and long-term care setting, while the outpatient pharmacy automation market is segmented into fast-track clinics and hospital pharmacies.
Factors such as the necessity of cost containment, reduction of medication errors, and the need to increase the efficiency of work within the pharmacies are the major drivers for the pharmacy automation systems market. However, stringent regulatory guidelines which delay product launches, high costs of implementation of automation systems, and restricted budgets of healthcare that lower investments in the automated systems by small companies are some of the key factors restraining the growth of the global market. However, the increasing awareness regarding the benefits of the pharmacy automation systems in the developing countries offer new growth opportunities to the market players.
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The Prominent Players In The Market Include:
- Baxter International Inc. (U.S.)
- CareFusion Corporation (U.S.)
- Cerner Corporation (U.S.)
- Kirby Lester LLC (U.S.)
- McKesson Corporation (U.S.)
- Omnicell Inc. (U.S.)
- ScriptPro LLC (U.S.)
- Swisslog Holdings AG (Switzerland)
- Talyst Inc. (U.S.).
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