Pharmacy Automation Market Overview With Comprehensive Analysis and Current Updates with Scope to 2023
MRFR has published new analysis on “Pharmacy Automation Market 2025” and also provided analysis on market size, market share\
Market
Highlights:
According
to MRFR analysis, Global
Pharmacy Automation Market is
expected to register a CAGR
of 8.6% during the forecast period
of 2019
to 2025 and reach USD 6820 Million by 2025.
Increased
artificial intelligence (AI) and machine learning facilities, along with the
low cost of automated systems is boosting many pharmacies to adopt pharmacy
automated system. Furthermore, the pharmacy automation system offers various
benefits such as increased speed, greater accuracy, greater security and
confidentially. The automated systems in pharmacies allow pharmacists to become
a more integral part of the care-providing team and help them to provide better
and more holistic care to the patients.
The
growth of the global pharmacy automation market can be contributed to the
rising need to minimize medication errors, technological advancements by market
players, decentralization of pharmacies, and rising geriatric population.
However, misunderstanding arises from similar labels and improper storage
practices in pharmacies are expected to restrain the growth of the global
pharmacy automation market.
Several
market players such as Becton, Dickinson, and Company, Omnicell Inc., Cerner
Corporation, and Capsa Healthcare currently dominate the global pharmacy
automation market. The key players are involved in inorganic growth strategies
such as acquisitions to strengthen their market positions. For instance, in
March 2015, Becton, Dickinson, and Company acquired CareFusion Corporation
(US). This acquisition helped the company to strengthen its position in the
global pharmacy automation market. Moreover, in 2017, Becton, Dickinson, and
Company opened its new institute, which is designed to identify and support
advancements in medication management.
Key
Players:
Some of the key players in the Global Pharmacy Automation Market are Capsa Healthcare, Parata
Systems, Arxium Inc., Omnicell Inc., RxSafe, LLC, Scriptpro LLC, Becton,
Dickinson, and Company, Cerner Corporation, KUKA AG, Yuyama Co., Ltd amongst others.
Segmentation:
·
The Global Pharmacy
Automation Market has been segmented based on the product Type and End
User.
·
Based on the product
type, the global pharmacy automation market has been segmented into automated
medication dispensing systems, automated packaging and labeling systems,
automated table-top counters, automated storage and retrieval systems, and
others. The automated medication dispensing systems segment held the largest
market share in 2018 owing to enhanced inventory management, ideal utilization
of space and advantages of automated medication dispensing systems over other
systems. The automated medication dispensing systems segment is further
segmented into centralized, automated dispensing systems and decentralized
automated dispensing systems. Automated packaging and labeling systems segment
is sub-segmented into automated unit-dose packaging & labeling systems,
automated multidose packaging & labeling systems.
·
The market based
on end user has
been segmented into inpatient pharmacies, outpatient pharmacies, and retail
pharmacies. The inpatient pharmacies segment was expected to hold the largest
share in 2018 due to the rising need to improve the efficiency and accuracy of
pharmacies.
Regional
Analysis:
The
market has been divided, by region, into the Americas, Europe, Asia-Pacific,
and the Middle East & Africa. The Americas region held the largest market
in 2018, owing to the increasing adoption of advanced technologies in the
healthcare field, rising healthcare expenditure and rise in the number of
hospitals & healthcare laboratories in the region. The pharmacy automation
market in the Americas has further been branched into North America and Latin
America, with the North American market divided into the US and Canada. The
European pharmacy automation market has been categorized as Western Europe and
Eastern Europe. The Western European market has further been classified as
Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The
pharmacy automation market in Asia-Pacific has been segmented into Japan,
China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the
escalating demand for automation systems in the healthcare sector and the
growing pharmaceutical industry, the market in Asia-Pacific is expected to be
the fastest-growing. The pharmacy automation market in the Middle East &
Africa has been divided into the Middle East and Africa.
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