From the Wires
Pharmacy Automation Market Worth 5.38 Billion USD by 2022
By: PR Newswire
Apr. 21, 2017 07:30 AM
PUNE, India, April 21, 2017 /PRNewswire/ --
According to a new market research report " Pharmacy Automation Market by Product (Medication Dispensing System (Robot, Carousel), Packaging & Labeling System (Unit Dose, Multi Dose), Tabletop Counter, Storage System), End User (Inpatient, Outpatient, Retail Pharmacy) - Global Forecast to 2022", published by MarketsandMarkets™, the market witnessed healthy growth rate during the last decade and is expected to grow at a CAGR of 8.2% between 2017 and 2022 to reach USD 5.38 Billion by 2022.
Early buyers will receive 10% customization on this report.
The growth in this market is mainly attributed to factors such as growing need to minimize medication errors, rapid decentralization of pharmacies, rising geriatric population, and rising labor cost.
The global pharmacy automation market is segmented on the basis of product, end users and regions. The study also provides product portfolio assessment which compares offerings of major market players; value chain analysis; market penetration rate in various geographies; market dynamics; industry trends; and business strategy matrix for pharmacy automation market.
In 2016, automated medication dispensing systems accounted for the largest share of the pharmacy automation market. The factors such as improved medication safety, better inventory management, and improved storage capacity with optimal utilization of space, and potential time and cost savings are the major drivers of market growth.
The inpatient pharmacies end user segment accounted for the largest share of pharmacy automation systems market. The increasing need for improved accuracy and efficiency of pharmacy units in hospitals and the growing need to minimize the waiting time in inpatient pharmacies are key market drivers in this end-user segment.
Speak To Analyst: http://www.marketsandmarkets.com/speaktoanalyst.asp?id=71522890
In 2016, North America accounted for the largest share of the global pharmacy automation market, followed by Europe, Asia-Pacific, and RoW. Growth in the developed markets in North America and Europe is mainly driven by the government regulations and initiatives, high adoption of pharmacy automation and the presence of major companies in this region. Furthermore, growth in insurance coverage in the U.S. has increased the burden on the country's healthcare system, which has highlighted the need for improving efficiency and management of work in North America. As opposed to the North American and European markets, the demand in the APAC and Latin American markets is primarily driven by the growth in the overall healthcare industry. With the rapid rise in the number of patients, demand for quality care, effective upgradation of the healthcare IT infrastructure of the country is expected to have a positive impact on the demand for pharmacy automation systems.
Download PDF Brochure@ http://www.marketsandmarkets.com/pdfdownload.asp?id=71522890
Becton, Dickinson, and Company (U.S.), and Omnicell, Inc. (U.S.) held the major share of the pharmacy automation systems market and will continue to dominate the market between 2017 and 2022. Other major players operating in this market are Cerner Corporation (U.S.), Capsa Healthcare (U.S.), Parata Systems LLC (U.S), Baxter International, Inc. (U.S.), ScriptPro LLC (U.S.), KUKA AG (Germany), TCGRx Pharmacy Workflow Solutions (U.S.), RxSafe, LLC (U.S.), ARxIUM Inc. (U.S.) and Talyst Systems LLC. (U.S.).
Browse Related Reports:
Medical Automation Market by Application (Diagnostics & Monitoring, Therapeutics, Lab & Pharmacy Automation, Medical Logistics & Training), End-User (Hospital, Diagnostic Center, Research Institute, Home/Ambulatory Care) - Global Forecast to 2020
Medication Management Market by Systems (CPOE, CDSS, Automated Dispensing, Assurance Systems), Services (Medication Analytics, POC Verification, ADE Surveillance), Mode of Delivery (On-Premises, Web-Based, Cloud-Based) - Global Forecast to 2019
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Visit our Blog @ http://mnmblog.org/market-research/healthcare/medical-devices
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets
Latest Cloud Developer Stories
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
SYS-CON Featured Whitepapers
Most Read This Week