Pharmacy Automation Market Revenue Opportunities 2019: Becton, Yuyama Co., Ltd., Omnicell, Inc., ScriptPro LLC, Cerner Corporation, Capsa Healthcare, Baxter International, Inc., KUKA AG, TCGRx Pharmacy Workflow Solutions, RxSafe, LLC, ARxIUM Inc. Swisslog

Increasing need to reduce medication errors and development of automated systems with improved features is a major factor driving pharmacy automation market growth. According to the National Coordinating Council for Medication Error Reporting and Prevention (NCC MERP), approximately 0.1 million approximately people die annually from medical errors that occur in hospitals.

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Similarly, according to the Institute of Medicine survey in 2014, due to medication errors 1 out of 131 outpatient and 1 out of 854 inpatient deaths each year’s globally. Furthermore, according World Health Organization (WHO) studies in 2016, in United Kingdom, 12% of primary care patient affected by monitoring or prescribing error of medicine over the course of a year and its increases to 31% in older patient who is 75 year and older who is receiving more than 5 drug during 12 months period.

Moreover, error of injectable products primary concern is the risk of infectious disease transmission. According to WHO in 2008 unsafe medical injections led to 340,000 human immunodeficiency virus (HIV) infections, three million cases of bacteremia and 15 million hepatitis B infections.

Key players in the market are focused on launching novel pharmacy automations system in order to reduce medication error that can occur while compounding, dispensing, labeling of medication. For instance, in 2018 Becton, Dickinson and Company with collaboration with Helmer Scientific, a leading provider of integrated solutions to safeguard temperature-sensitive medication launched BD Pyxis, a first fully integrated refrigerated automated dispensing solution.

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Similarly, in August, 2017, For instance, in December, 2014, CareFusion, a subsidiary of Becton Dickinson launched new innovations to expand the capabilities of its enterprise-wide medication management solutions for use in hospitals and outpatient settings.

Key players in the market are focused on adopting strategies such as mergers and acquisitions to enhance their product portfolio. For instance, in December, 2018, TCGRx, a Pharmacy packaging and automation provider acquired Parata Systems, a leaders in medication adherence packaging and high speed automated robotic dispensing technologies.

Moreover, adoption of bar code medication administration (BCMA) playing vital role in minimizing medication error in U.S., BCMA make sure that the right medication received by right patient at the point of administration. According to the survey by The HIMSS Analytics Database in 2015, there is a reduction in incidence of medication error by more than 50%, and the risk of adverse drug events by 11% or approximately 20 events per day compare to last years.

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Major players operating in the global Pharmacy Automation market include, Becton, Dickinson and Company, McKesson Corporation, Yuyama Co., Ltd., Omnicell, Inc., ScriptPro LLC, Cerner Corporation, Capsa Healthcare, Baxter International, Inc., KUKA AG, TCGRx Pharmacy Workflow Solutions, RxSafe, LLC, ARxIUM Inc. Swisslog Holdings AG and Talyst systems LLC

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