Pharmacy Automation Devices - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Pharmacy Automation Devices market is accounted for $3.41 billion in 2017 and is expected to reach $7.62 billion by 2026 growing at a CAGR of 9.3%. Factors influencing the market growth are growing demand for pharmaceutical products, increasing geriatric population and improvements in healthcare infrastructure in emerging nations. However, high maintenance cost and strict governmental regulations for the approval of pharmacy automation systems are hindering the growth of the market.
Pharmacy automation involves the mechanical process of handling and distributing medications. Pharmacy automation systems integrate the data, knowledge, and technology involved with the medication use process to improve outcomes. The technology in pharmacy automation systems is safe and efficient for medication management. Some of the benefits are increased productivity, better patient care, elevated patient safety and reduced labor costs.
By product, decentralized automated dispensing system segment acquired significant share. Decentralized automated dispensing systems are drug storage devices or cabinets that electronically dispense medications in a controlled fashion and track medication use. The decentralized medication distribution systems improve efficiency, patient safety and avoid dispensing errors associated with the type and dosage. Amongst end user, retail pharmacies segment registered largest share during the forecast period. The growth of this segment can be attributed due to growing number of retail pharmacies and increasing workload on pharmacists.
Based on geography, North America is anticipated to lead the market due to increasing healthcare overheads, growing aging population and effective upgradation of the healthcare IT infrastructure in this region.
Some of the key players in the pharmacy automation Devices market include Tcgrx Pharmacy Workflow Solutions, Talyst LLC, Parata Systems LLC, Kuka Aktiengesellschaft, Baxter International Inc, Becton, Dickinson and Company, Rxsafe, LLC, Arxium, Inc., Scriptpro LLC, Capsa Healthcare, Cerner Corporation, Omnicell Inc, Baxter International Inc, AmerisourceBergen Corporation and CareFusion Corporation.
• Automated Storage and Retrieval Systems
• Automated Packaging and Labeling Systems
• Automated Medication Dispensing Systems
• Automated Table-Top Counters
• Other Products
End Users Covered:
• Outpatient Pharmacies
• Inpatient Pharmacies
• Pharmacy Benefit Management Organizations and Mail-Order Pharmacies
• Retail Pharmacies
• Other End users
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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