Industry Background:
Pharmacy automation refers to automation that involves a mechanical process for handling and distributing medication. This reduces filling error, fill more prescription and increases the focus towards patient safety and staff productivity. Owing to the growing need to reduce medication error, the advantage of the pharmacy automation system and developed features of pharmacy automation is expected to drive the market in the forecasted period.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Becton, Dickinson, and Company (United States), Omnicell, Inc. (United States), Cerner Corporation (United States), Capsa Healthcare (United States), Parata Systems LLC (United States), Baxter International, Inc. (United States), ScriptPro LLC (United States), KUKA AG (Germany), TCGRx Pharmacy Workflow Solutions (United States), RxSafe, LLC (United States), ARxIUM Inc. (United States) and Talyst Systems, LLC (United States) |
CAGR | % |
This growth is primarily driven by Growing Need to Minimize Medication Errors, Rapid Decentralization of Pharmacies, Rising Geriatric Population and Rising Labor Costs.
Globally, a noticeable market trend is evident Upsurging Demand and Consumption has Led to Continues Enhancements in the Industry. Major Players, such as Becton, Dickinson, and Company (United States), Omnicell, Inc. (United States), Cerner Corporation (United States), Capsa Healthcare (United States), Parata Systems LLC (United States), Baxter International, Inc. (United States), ScriptPro LLC (United States), KUKA AG (Germany), TCGRx Pharmacy Workflow Solutions (United States), RxSafe, LLC (United States), ARxIUM Inc. (United States) and Talyst Systems, LLC (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In March 2018, Centrus Health and Cerner collaborated to deliver value-based and innovative population healthcare in Kansas City
Regulatory Insights:
As per the data from World Population Prospects: the 2017 Revision, the number of older people, those aged 60 years or over, is expected to increase more than double by the year 2050 and to become more than triple by 2100, rising from 962 million globally in 2017 to 2.1 billion in 2050 and 3.1 billion in 2100.
Market Drivers
- Growing Need to Minimize Medication Errors
- Rapid Decentralization of Pharmacies
- Rising Geriatric Population
- Rising Labor Costs
Market Trend
- Upsurging Demand and Consumption has Led to Continues Enhancements in the Industry
Restraints
- Reluctance to Adopt Pharmacy Automation Systems
Opportunities
Increasing Awareness Among Pharmacists, Emerging Markets and Healthcare Cost-reduction Measures
Challenges
Stringent Regulatory Procedures
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Pharmacy Automation Study Sheds Light on
The Pharmacy Automation Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Pharmacy Automation industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Pharmacy Automation industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.