Press release
Pharmacy Automation Market 2020 : Top Impacting Factors, Growth Opportunities, Industry Analysis and Business Statistics By 2027 | Arxium, Talyst, Scriptpro LLC, Parata Systems, Capsa Healthcare, Cerner Corp., Baxter International, Omnicell,
Global Pharmacy Automation Market was valued at USD 4.2 billion in 2019 which is expected to reach USD 8.38 billion by 2027 at a CAGR 8.5%.Pharmacy automation system is centralized or decentralized automated packaging, labeling, dispensing, and other systems which is used to reduce dispensing errors, and improvement of workflow efficiency of pharmacies and hospital nursing staff. Pharmacy automation plays an important role in modern healthcare.
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Increase in demand for pharmacy automation to reduce medication errors is the key driving factor which is expected to drive global pharmacy automation market growth. Furthermore, continuous technological advancement and development of automated system with improved pharmacy automation is expected to propel the global pharmacy automation market growth. Moreover, increase in technological advancements is expected to fuel the global pharmacy automation market growth. For instance, in 2015, Becton, Dickinson and Company had launched Cato Medication workflow software with camera based visual documentation hardware, which offers Visual documentation of IV, Vial, Syringe, Container, and information during every gravimetric step.
Market Restraints
However, high cost of pharmacy automation is the main restraining factor which is expected to hamper global pharmacy automation system market growth. Also, stringent regulatory procedures will affect the growth of global pharmacy automation market growth.
Market Segmentation
Global Pharmacy Automation Market is segmented into type such as Tabletop Tablet Counters, Automated packaging & Labeling System, Automated Storage & Retrieval Systems, Automated Medication Dispensing System, and Others, by application such as Drug Storage, Inventory Management, and Drug Dispensing & Packaging. Further, Global Pharmacy Automation Market is segmented into end user such as Retail Pharmacies, Online Pharmacies, and Others.
Also, Global Pharmacy Automation Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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Market Key Players
Various key players are discussed in this report such as Arxium, Inc., Talyst, LLC, Scriptpro LLC, Parata Systems LLC, Capsa Healthcare,, Cerner Corporation, Baxter International Inc., Omnicell, Inc., and Becton, Dickinson, and Company.
Market Taxonomy
By Type
• Tabletop Tablet Counters
• Automated packaging & Labeling System
• Automated Storage & Retrieval Systems
• Automated Medication Dispensing System
• Others
By Application
• Drug Storage
• Inventory Management
• Drug Dispensing & Packaging
By End User
• Retail Pharmacies
• Online Pharmacies
• Others
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
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