LONDON--(BUSINESS WIRE)--The out-patient pharmacy automation market in the US is expected to register a CAGR of more than 4% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the market’s growth is the rise in medication errors. The increase in patient population in the US indicates the rise in the number of patients who take multiple medications daily. For instance, according to a research, in the US, patients have at least one prescription with more than 50% taking multiple medications daily. Patients taking multiple medications are at an increased risk of medication errors, which can cause health risk in patients.
This market research report on the out-patient pharmacy automation market in the US 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing adoption of automation in healthcare as one of the key emerging trends in the out-patient pharmacy automation market in the US:
Out-patient pharmacy automation market in the US: Increasing adoption of automation in healthcare
The adoption of automation in healthcare is increasing to reduce costs of staffing allowing healthcare professionals to devote an increased amount of time for patient consultation and offer precision in diagnosis. Automation also improves the productivity of the pharmacy as it reduces the chances of human error.
“Automation contributes to data-driven insights as the technology used to automate processes can deliver a large volume of data that can be used to improve and optimize performance. With each step, automated systems collect data on the working of the process and use this data to enhance the process, which increases throughput and reduces the workload on healthcare professionals,” says a senior analyst at Technavio for research on orthopedics and medical devices.
Out-patient pharmacy automation market in the US: Segmentation analysis
This market research report segments the out-patient pharmacy automation market in the US into the following applications (automatic pill dispensing systems and packaging and labeling systems) and end-users (hospitals and clinics).
The automatic pill dispensing systems segment held the largest market share in 2017, accounting for nearly 50% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The hospitals segment held the highest share of the out-patient pharmacy automation market in the US in 2017, accounting for a market share of approximately 53%. But, the market share of this segment is expected to decrease by more than 2% by 2022. However, this segment will dominate the global market through 2022.
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