Pharmacy Automation Systems Industry Overview:
Pharmacy automation systems are utilized for inpatient and outpatient pharmacies for automating the routine tasks of a pharmacist, thereby automating the entire mechanical processes of handling and distributing as well as dispending medications. But these systems also aid in measuring and compounding medications, updating and tracking patient information in databases, and inventory management.
Pharmacy Automation Systems Industry Size and Growth Rate:
According to our research report, Pharmacy Automation Systems Industry size is poised to reach USD 5,342 Million by the end of 2022 from USD 3,145 Million in 2017 and this market witnessed a growth rate of 7.4% during the forecast period 2018-2022.
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Factors affecting on Pharmacy Automation Systems Industry growth:
Growing adoption and rising demand for automated solutions in pharmacies, socio-economic factors like increasing disease incidences due to growing elderly population, increasing inclination of pharmacists for automation systems since it automates time-consuming and routine tasks like medication storage, compounding, packaging, retrieval, and dispensing are driving the growth of the Industry. These automation solutions streamline pharmacy workflow and also decrease the risk of errors. Product innovations and increasing rates of hospitalizations is also fueling the growth of the Industry. Through pharmacy automation systems, hospitals can keep a track and manage drug supplies and data regarding health information regarding patients. Increasing demand for efficient and clear tracking systems is anticipated to drive the Industry for pharmacy automation systems in the coming years. However, High initial expenditure and need for maintenance are estimated to be a few Industry restraining factors.
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Pharmacy Automation Systems Industry Geographical Insights:
From the geographical point of view, Industry is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa regions. North America region is estimated to lead the Industry in terms of revenue share globally. This is because of growth in insurance coverage and growing prescriptive medical assistance in United States which led to need for better workflow in North America. Increase in rate of population growth as well as innovative medical, IT and healthcare infrastructures are estimated to drive the Industry in Asia Pacific and Latin America region.
Pharmacy Automation Systems Industry – Key players: Talyst systems LLC. (U.S.), ARxIUM Inc. (U.S.), Parata Systems LLC (U.S), LLC (U.S.), Capsa Healthcare (U.S.), Cerner Corporation (U.S.), RxSafe, Inc. (U.S.), TCGRx Pharmacy Workflow Solutions (U.S.), KUKA AG (Germany), ScriptPro LLC (U.S.), Baxter International, Inc. (U.S.), Omnicell, Company (U.S.), Dickinson, and Becton.
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