Pharmacy Automation Market Comprehensive Analysis, Growth, Business Opportunities and Forecast to 2027| Omnicell, INC. BD, Cerner Corporation, Capsa Healthcare, KUKA Aktiengesellschaft, Parata Systems LLC
The precise and revolutionary information gained through this Pharmacy Automation Market analysis report is sure to help businesses in identifying the types of consumers, consumer’s demands, their preferences, their perspectives about the product, their buying intentions, their response to particular product, and their varying taste about the specific product already available in the market. To elaborate the studies and estimations involved in this market report, a method of standard market research analysis viz SWOT analysis is put forth. To make better decisions, generate maximum revenue, and enhance business profit, this Pharmacy Automation Market research report is a great key.
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Some of the major players operating in this Brazil Pharmacy Automation Market are:
Parata Systems LLC,
TCGRX Pharmacy Workflow Solutions,
Capsa Healthcare among others
The automated medication dispensing systems segment is dominating the Brazil pharmacy automation.
The automated medication dispensing systems segment is expected to grow with the highest CAGR of 7.4% in the forecast period 2018 to 2025.
Brazil Pharmacy Automation Market is expected to register a healthy CAGR of 6.9% in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
The major factors driving the growth of the market are increased demand of minimizing medication errors, advent of decentralization of pharmacies are the factors which will boost the Brazil pharmacy automation market. On the other hand, high cost associated with the implementation of pharmacy automation system and drawbacks in pharmacy automation system may hinder the growth of the market.
Segmentation: Brazil Pharmacy Automation Market
Brazil Pharmacy Automation Market: By Product
Automated Medication Dispensing Systems,
Automated Packaging and Labeling Systems,
Automated Storage and Retrieval Systems,
Automated Table-Top Counters
Brazil Pharmacy Automation Market : By End-User
Pharmacy Benefit Management Organizations and Mail-Order Pharmacies
Brazil Pharmacy Automation Market : By Geography
Get Detailed TOC @ https://www.databridgemarketresearch.com/toc/?dbmr=brazil-pharmacy-automation-market
Drivers: Brazil Pharmacy Automation Market
The major factors contributing to the growth of the market includes factors increased demand of minimizing medication errors, advent of decentralization of pharmacies
INCREASED DEMAND OF MINIMIZING MEDICATION ERRORS
Medication errors are caused because of incorrect use of medication or treatment. In other words it is a failed treatment process in administration leading to the harm to patient. There are various causes for the occurrence of medication error such as missing patient information, missing drug information, prescription error, dispensing the formulation, monitoring therapy and others. Wrong label information and instructions are the most common types of errors.
According to the article published by San Diego Union-Tribune newspaper in U.S medical error is the third leading cause of death. Around 6, 11,000 patients’ have been died due to medical errors in cardiovascular disease whereas 5, 85,000 patients were died because of medical errors in cancer treatment in 2013.
According to NCBI journal, in 2014 a survey was conducted at the hospital in Brasilia Federal district.. It has been found that the relation between occurrence of errors and risk factors was over 484 doses out of which 69.5% errors accounted during drug administration, 69.6% during the preparation stage of drugs, 48.6% were timing errors while 1.7% occurred due to dose-related errors.
According to World Health Organization, 58.0% prescription based errors occurred in Mexico. it was observed that rate of medication error was 33.0% as a result 77.0% people have suffered from medial error.
Automated medication dispensing is widely used in public and private hospitals to reduce all types of medication errors to ensure patient safety. Many automated dispensing systems are based on barcode technology which enables appropriate drug dosage form. Automated drug dispensing systems have great impact on pharmacy automation market. These are drug cabinets or storage devices which electronically dispense medication in a controlled process and track medication use.
Therefore, there is a huge demand for solving medication errors such as missing patient information, missing drug information, prescription error, dispensing the formulation, monitoring therapy, wrong label information and instructions are some of the most common types of errors which have propelled the market for pharmacy automation.
ADVENT OF DECENTRALIZATION OF PHARMACIES
Decentralization pharmacies are based on practice models where pharmacist is responsible for both clinical and distribution services. Decentralized pharmacies have advantages over other methods such as increased patient safety, increased efficiency in patient care, cost-effectiveness, and increased job satisfaction for both pharmacists and other health care members.
According to an article published by NCBI, in 2015 more than 44.0%–46.0% of hospitals in Canada have preferred decentralized pharmacies, while only 7.0% have used centralized pharmacy practice model.
Most of the hospitals prefer decentralization pharmacies for health care in Brazil as it reduces the inequality in the distribution of publicly financed health care. Therefore, helps in improving basic health care issues at reduced cost.
Decentralized distribution model is highly flexible and preferred in health care. Higher satisfaction along with efficient nursing workflows has been observed among nurses. Decentralization medication distribution system allows them to prefer over 80.0% of inpatient medication from automated dispensing cabinets while in centralized distribution station it affects only 50.0% of a clinician’s time. As a result it’s negatively impacting the patient’s experience.
In decentralized approach, the medications are kept in the medication room and will only dispense after doctor’s order. This model also provides multiple tower dispensers along with medication rooms housing multiple dispensers. Whereas, in centralized distribution system the pharmacies sends medications to the patients. They can store only few drugs and half-size refrigerator as compared to the decentralized approach.
Moreover, as per analysis of University of Wisconsin Hospital and Clinics (UWHC), there has been a shift from centralized to decentralized medication dispensing systems. In this analysis it has been identified that decentralized process is more cost effective and t efficient. Furthermore, pharmacy department employs a decentralized medication providing 89.0% of all doses dispensed from unit-based.
As per an article published by Pharmacy Purchasing & Products Magazine, in distribution model decentralization model accounted for42.0%, centralized accounted for 30.0% whereas hybrid accounted for 28.0% in health care.
Hence, rising demand for decentralization of pharmacy due to various reasons such as providing medication rooms, housing multiple dispensers, cost effectiveness is driving the market for decentralized pharmacies.
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