Pharmacy Automation Systems Market is expected to reach $5,602 million by 2022 & North America accounted for the largest market share.
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Pharmacy automation systems manage to dispense, storing, filling, capping, and labeling of medications and securely store patients data. Constant technological developments, long-term cost savings associated with these systems, growth in adoption in emerging nations, rise in need to reduce medication errors and increase in medical tourism in developing countries drive the growth of the market. However, high capital investment is projected to restrain market growth during the forecast period.
Detailed segmentation of the global pharmacy automation systems market is provided in terms of product type, end user, and geography. Based on product type, the market is divided into automated medication dispensing systems, automated storage & retrieval systems, automated packaging & labeling systems, tabletop tablet counters, and automated compounding devices. The automated medication dispensing segment held the largest share of 49.0% in 2015, owing to high these machines due to their point-of-care availability, a capability to control storage & distribution and maintain a record of medicines.
By end user, the market is categorized into retail pharmacy, hospital pharmacy, and others (long-term care pharmacy, clinic pharmacy, and mail-order pharmacy). Pharmacy automation systems held over half of the share in 2015 owing to major use in hospitals to package, dispense, and label medicines, and are expected to continue this trend in the future.
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Key Findings of the Pharmacy Automation Systems Market:
• Automated medication dispensing systems was the leading segment in 2015.
• North America is projected to grow at a CAGR of 7.5% from 2016 to 2022.
• Asia-Pacific is expected to grow at the highest CAGR.
• China is expected to grow at the highest CAGR in the Asia-Pacific pharmacy automation systems market.
• France is expected to grow with the highest growth rate during the analysis period among the European countries.
• Hospital held the largest market share o in 2015.
Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America generated the highest revenue, accounting for over half of the market share in 2015, owing to rise in expenditure to upgrade healthcare systems and high demand for technologically advanced devices for rapid & accurate distribution of medicines.
However, Asia-Pacific is projected to grow at the highest CAGR during the analysis period, owing to the rise in healthcare expenditure, increase in per capita income, and improvement in healthcare infrastructure.
The report provides a comprehensive analysis the key players operating in this market, including Baxter International Inc.; Becton, Dickinson and Company; Cerner Corporation; Capsa Healthcare; McKesson Corporation; Omnicell Inc.; ScriptPro LLC; Swisslog Holdings AG; Talyst, Inc.; and Yuyama Co., Ltd.
3: MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. PORTERS FIVE FORCES ANALYSIS
3.3.1. Bargaining power of buyers
3.3.2. Bargaining power of suppliers
3.3.3. Threat of substitutes
3.3.4. A threat of new entrants
3.3.5. Competitive rivalry
3.4. MARKET SHARE ANALYSIS, 2015
3.5. MARKET DYNAMICS
184.108.40.206. Increase in need to reduce medication error
220.127.116.11. Development of automated systems with improved features
18.104.22.168. Advantages of pharmacy automation systems over manual methods
22.214.171.124. High capital investment for pharmacy automation systems
126.96.36.199. Stringent governmental regulations for the approval of pharmacy automation systems
188.8.131.52. Improvement in healthcare infrastructure in emerging nations
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