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.
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The overall pharmacy automation market is estimated to grow at a CAGR of 8.2% from 2017 to 2022 to reach $5.38 Billion by 2022.
Major Market Developments
- In 2016, BD launched a software for Pyxis ES System. This product ensures patient safety and workflow benefits for health systems’ medication management.
- In 2015, BD acquired CareFusion Corporation, a global medical technology company with a comprehensive portfolio of products in the areas of medication management, infection prevention, operating room & procedural effectiveness, and respiratory care.
- In 2017, Omnicell launched Omnicell VBM 200F. It fills and checks SureMed multiple medication blister cards.
- In 2016, Omnicell launched Omnicell XT Automated Dispensing Cabinets, designed with modern hardware technology and features that bring improvements in workflow efficiency, medication accountability, and patient safety.
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