Pharmacy Automation Market 2017 - Global Forecast to 2022: Medication Dispensing System (Robot, Carousel),Packaging & Labeling System (Unit Dose, Multi Dose), Tabletop Counter, Storage System - Research and Markets

DUBLIN--()--Research and Markets has announced the addition of the "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" report to their offering.

The pharmacy automation market is expected to grow at a lucrative CAGR of 8.2% from 2017 to 2022, to reach USD 5.38 billion by 2022 from USD 3.63 billion in 2017

The growth in pharmacy automation market is primarily due to the increased focus on reducing medication errors, increased burden on pharmacies due to rising geriatric population, rapid decentralization of pharmacies, and rising labor cost. On the other hand, reluctance among the healthcare organizations to shift to new pharmacy automation systems from existing manual method is expected to restrain the overall market growth to a certain extent during the forecast period.

In 2016, the automated medication dispensing systems segment accounted for the largest share of the pharmacy automation market. Benefits of automated medication dispensing systems such as increased medication safety, improved inventory management, increased storage capacity with less occupied space, potential time and cost saving, and reduced dispensing errors are attributing to the large share of this segment.

The inpatient pharmacies segment accounted for the largest share of pharmacy automation market. Growing need to prevent medical errors, large volume of prescriptions on a daily basis and government initiatives to improve the quality of care delivered to patients & curtail the soaring cost of healthcare are the factors leading to adoption of pharmacy automation systems in inpatient pharmacies.

Market Dynamics

Drivers

  • Growing Need to Minimize Medication Errors
  • Decentralization of Pharmacies
  • Rising Geriatric Population
  • Rising Labor Cost

Restraints

  • Reluctance to Adopt Pharmacy Automation Systems

Opportunities

  • Increasing Awareness Among Pharmacists
  • Emerging Markets
  • Healthcare Cost-Reduction Measures

Challenges

  • Stringent Regulatory Procedures

Companies Mentioned

  • Arxium, Inc.
  • Baxter International Inc.
  • Becton, Dickinson and Company
  • Capsa Healthcare
  • Cerner Corporation
  • Kuka Aktiengesellschaft
  • Omnicell, Inc.
  • Parata Systems LLC
  • Rxsafe
  • Scriptpro LLC
  • Talyst Systems LLC
  • Tcgrx Pharmacy Workflow Solutions

For more information about this report visit http://www.researchandmarkets.com/research/6rpdz5/pharmacy

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Drugstores and Pharmacies , Pharmaceutical Manufacturing

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Drugstores and Pharmacies , Pharmaceutical Manufacturing