Pharmacy Automation Systems Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of Pharmacy Automation Systems Market by product type (medication dispensing cabinets, packaging & labelling machines, IV pharmacy, robotic dispensing machines), application (drug dispensing & packaging, drug storage and inventory management)and end-user (hospital pharmacies, clinic pharmacies, retail pharmacy stores) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the Pharmacy Automation Systems Market it includes the five years Industry analysis and the 6 years annual forecast from 2018 to 2024. Some of the prominent participants in the Global Pharmacy Automation Systems Market are Cerner Corporation, Omnicell Inc, Kirby Lester, Baxter International Inc., ScriptPro LLC and Yuyama Co., Ltd. According to report the global pharmacy automation systems market is projected to grow at a CAGR of 6.5% over the forecast period of 2018-2024.
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Pharmacy use automation systems to meet broad need of pharmacies. Automation system in pharmacy reduces their medical inventory and improves cash flow. Pharmacy automation system includes medication dispensing cabinets, packaging & labeling machines, IV pharmacy, robotic dispensing machines, carousel storage and tablet splitters. This helps patients especially the elderly, take their medication at the right times. Some of the advantages of pharmacy automation systems include higher reliability and accuracy, flexible design to meet individual pharmacy requirements, reduces drug wastage and medication cost, minimize time-consuming labor work and improve work efficiency, increases pharmacist time to consult with patients and enhances patient’s experiences.
Use of pharmacy automation system helps in improving efficiency and productivity of the pharmacy is a primary driver for the pharmacy automation system market growth. Beside this, reduce medication errors, rush in pharmacy centers, reduce inventory and space saving design of the machine are also some of the factors leading to increase demand for pharmacy automation systems. However, high cost of implementation of automation system to hinder the market growth. Continually developing new solutions to aid pharmacies in increasing throughput can create more opportunities in near future.
Geographically, North America held the largest market share in 2017 and is expected to dominate throughout the forecast period. Meanwhile Europe is the second largest market for pharmacy automation system. In North America, heavy investment is been done in pharmacy automation in order to minimize the medication errors. This investment was done in pharmacy automation as it was found that error in medication prescription dispensing was a leading cause of death in North America after cancer, heart attack and stroke. Asia pacific is expected to grow at the highest CAGR on account of rising awareness and investment in healthcare infrastructure.
The report on global pharmacy automation systems market covers segments such as, product type, application and end-user. On the basis of product type the global pharmacy automation systems market is categorized into medication dispensing cabinets, packaging & labeling machines, iv pharmacy, robotic dispensing machines, carousel storage and tablet splitters. On the basis of application the global pharmacy automation systems market is categorized into drug dispensing & packaging, drug storage and inventory management. On the basis of end-user the global pharmacy automation systems market is categorized into hospital pharmacies, clinic pharmacies, retail pharmacy stores, mail order pharmacies and pharmaceutical smes. While improving accuracy and controls in a very cost-conscious pharmacy market expansion.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
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Major Key Players Mentioned in this Premium Report
The report provides profiles of the companies in the global pharmacy automation systems market such as, McKesson Corporation, AmerisourceBergen Corporation, Health Robotics SRL, CareFusion Corporation, Cerner Corporation, Omnicell Inc, Kirby Lester, Baxter International Inc., ScriptPro LLC and Yuyama Co., Ltd.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global pharmacy automation systems market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of pharmacy automation systems market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the pharmacy automation systems market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the pharmacy automation systems market to understand the present and future trends in this market and formulate their strategies accordingly.