According to the 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 pharmacy automation 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. 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.
Don’t miss out on business opportunities in “Pharmacy Automation Market”. Speak to our analyst and gain crucial industry insights that will help your business grow: http://bit.ly/2Fhpln1
Early buyers will receive 10% customization on reports.
The overall pharmacy automation market is estimated to grow at a CAGR of 8.2% from 2017 to 2022 to reach USD 5.38 Billion by 2022. Market growth can be attributed to the growing need to minimize medication errors, rapid decentralization of pharmacies, rising geriatric population and rising labor cost. On the other hand, reluctance among the healthcare organizations to adopt pharmacy automation systems is expected to restrain the overall market growth to a certain extent during the forecast period. The base year considered for the study is 2017, and the forecast has been provided for the period between 2018 and 2023.
Market Dynamics
Drivers
- Growing Need to Minimize Medication Errors
- Rapid Decentralization of Pharmacies
- Rising Geriatric Population
- Rising Labor Costs
Restraints
- Reluctance to Adopt Pharmacy Automation Systems
Opportunities
- Increasing Awareness Among Pharmacists
- Emerging Markets
- Healthcare Cost-reduction Measures
Challenges
- Stringent Regulatory Procedures
Growing need to minimize medication errors drives the pharmacy automation market
Medication errors and dispensing errors are recognized as leading causes of hospital readmissions across the globe. A medication error can occur due to a variety of factors such as poor order communication between the physician and pharmacist, dangerous storage practices in pharmacies, and confusion arising out of the use of similar labels. Automated systems are considered to be one of the most efficient solutions to minimize these errors. In the past, the successful implementation of automated dispensing cabinets (ADCs) and automated dispensing machines (ADMs) in hospitals has led to a significant reduction in the number of dispensing and medication errors in hospitals. Thus, to minimize medication and dispensing errors, governments in several countries are promoting the use of automated dispensing and medication tools in pharmacies and hospitals. This is leading to the greater adoption of pharmacy automation systems.
Browse and in-depth TOC on “Pharmacy Automation Market”
181 – Tables
54 – Figures
218 – Pages
View more detailed TOC @ https://www.marketsandmarkets.com/Market-Reports/pharmacy-automation-systems-market-71522890.html
Some of the prominent players in the global pharmacy automation market include Becton, Dickinson, and Company (U.S.), Omnicell, Inc. (U.S.), 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.).
Request for Free Sample Report @ http://bit.ly/2zRGQEm
Browse Adjacent Markets @ Medical Devices Market Research Reports & Consulting
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/pharmacy-automation-systems-market.asp
Visit Our Website: https://www.marketsandmarkets.com
