Analysis Report of Pharmacy Automation Systems Market 2019 : North America Projected to Dominate the Global Market Through 2026
Press Release – 25
Jan 2019
Research
and Development News
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Latest
Update
"Pharmacy Automation Systems Market: North America Projected to
Dominate the Global Market Through 2026: Global Industry Analysis and
Opportunity Assessment, 2016 - 2026"
with Industries Survey | Global Current Growth and Future.
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Pharmacy automation systems are the systems used
for inpatient patient and outpatient pharmacies to automate the
routine task of a pharmacist thus these systems automates the entire
mechanical processes of handling and distributing medications.
However these systems also helps in measuring and compounding
medications, tracking and updating patient information in databases,
and inventory management.
Pharmacy automation systems considered in the
report fall under six major categories automated dispensing cabinets
(medication dispensing cabinets), packaging and labelling systems, IV
pharmacy (automated drug compounding), robotic dispensing systems,
carousal storage systems and tablet splitters.
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Medication
dispensing cabinet is a drug storage device generally used in
hospitals and outpatient pharmacies i.e. generally used in
decentralised pharmacies. In decentralised pharmacy settings the
medications are dispensed near the point of care while tracking drug
distribution thus automated dispensing cabinets or medication
dispensing cabinets, tablet splitters and IV pharmacy systems has
been implemented in these settings. Whereas in centralised
pharmacies, packaging and labelling systems, robotic dispensing
systems and carousal storage systems are preferred for drug tracking
and inventory management. The global pharmacy automation systems
market has been estimated to be valued at US$ 3175.2 Mn in 2015 and
is expected to expand at 6.7% CAGR over the forecast period 20162026.
“Rising adoption and growing demand for
automated solutions in pharmacies drive the growth of the global
pharmacy automation systems market”
Growth of the global pharmacy automation systems
market is mainly driven by rising adoption and growing demand for
automated solutions in pharmacies coupled with socio-economic factors
such as increasing disease incidences due to growing ageing
population. There is an increasing inclination of pharmacists for
automation systems as it automates time-consuming and routine tasks
such as medication compounding, packaging, dispensing, storage and
retrieval, etc. Also, these automation solutions streamline pharmacy
workflow and also reduce risk of errors, which enables physicians to
focus on direct patient-care activities.
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Other
prominent growth drivers are product innovations and increasing rates
of hospitalisations. Through pharmacy automation systems, hospitals
can manage and track drugs, supplies and health information related
to patients, thus replenishing only the items that are needed. This
increasing demand for effective and transparent tracking systems is
expected to drive the revenue for pharmacy automation systems as it
accurately record medication expiry dates and physical quantities.
However, cost of implementation and installation of pharmacy
automation systems is a major factor restraining growth of the market
over the forecast period.
“Medication dispensing cabinets segment
is projected to dominate the global pharmacy automation systems
market”
Based on product type, the market is segmented
into medication dispensing cabinets, packaging and labelling systems,
IV pharmacy (automated drug compounding), robotic dispensing systems,
carousal storage systems and tablet splitters. In terms of revenue
share, medication dispensing cabinets (ADC) dominated the global
pharmacy automation systems market in 2015 and is expected to
continue to dominate throughout the forecast period.
Based on application of pharmacy automation
systems, the market has been segmented into drug dispensing and
packaging, drug storage and inventory management. In terms of revenue
share, drug dispensing and packaging dominated the global pharmacy
automation systems market in 2015 and is expected to do so throughout
the forecast period. Whereas inventory management application segment
is anticipated to expand with the fastest CAGR over the forecast
period.
“Western Europe is expected to exhibit a
healthy CAGR due to increasing inclination of pharmacists to opt for
automated technologies”
The global pharmacy automation systems market has
been segmented into seven major regions: North America, Latin
America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan
(APEJ), Japan and Middle East & Africa (MEA). In terms of value,
North America has been estimated to dominate the global pharmacy
automation systems market in 2016 and is expected to expand at a CAGR
of 6.6% over the forecast period. APEJ and Japan are estimated to be
the fastest growing markets in terms of revenue, while Western Europe
is expected to exhibit a healthy CAGR due to increasing inclination
of pharmacists in the region to opt for automated technologies in
their pharmacies to provide quality care to the patients. In terms of
value, Western Europe is expected to register a CAGR of 7.2% over the
forecast period.
“The global pharmacy automation systems
market is consolidated with key players occupying a large market
share”
The pharmacy automation systems market is largely
consolidated, with top few players accounting for the major share in
2015. Recently there have been several acquisitions leading to
consolidation of the market. Established players are focussing on
strategic moves such as product launch, increasing their distribution
channel for automation solutions, and getting into partnerships and
agreements to increase the brand awareness of their product.
“Leading market players dominating the
global pharmacy automation systems market”
Some key players in the global pharmacy automation
systems market included in this report are Baxter International Inc.,
Swisslog Holdings AG, Care Fusion Corporation, Cerner Corporation,
Kirby Lester LLC, Talyst, LLC., Omnicell Inc. etc.
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