Pharmacy Automation Market by Technological Innovations and Future Growth 2021-2026

The Global Pharmacy Automation Market Research Report 2021-2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

Top Companies in the Global Pharmacy Automation Market are Arxium Inc., Baxter International Inc., Becton, Dickinson, and Company, Capsa Healthcare, Cerner Corporation, Kuka Aktiengesellschaft, Omnicell Inc., Parata Systems LLC, Rxsafe LLC, Scriptpro LLC and others.

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Key Market Trends

The Automated Medication Dispensing Systems Segment is Gaining Prominence in the Pharmacy Automation Market

- The introduction of automated medication dispensing systems is one of the key strategies followed for improving patient safety, as these new systems are expected to reduce medication errors while enhancing medical distribution efficiency.
- These systems keep track of narcotics and other controlled drugs, monitor drug usage patterns, and eliminate the manual end-of-shift narcotic counts, especially inpatient care units. Manual tracking is cumbersome and can cause the under- or over-stocking of the inventory. Pharmaceutical carousels increase the efficiency of a pharmacys inventory management system, as they maximize medication storage and improve dispensing speeds.
- In January 2017, Omnicell launches a new generation of automated dispensing systems, the Omnicell XT cabinet series features a revolutionary design approach to maximise workflow efficiency.
- Furthermore, increasing dispensing errors, growing number of chain pharmacies and rising adoption of AI in well developed countries projected to boost the segment growth over forecast period.

The North American Region holds the Significant Share in the Pharmacy Automation Market

North America pharmacy automation projected to have a significant share. According to a study by Johns Hopkins, in the United States, every year, more than 250,000 deaths are due to medication errors. Thus, it is considered as one of the leading causes of death in the country. Most medication errors occur during prescription and dispensation. In North America, the use of automated medication dispensing systems and cabinets is increasing, as they reduce dispensing errors while improving inventory stock management, drug traceability, and dispensing speed. ARxIUM, from the United States, provides automated solutions for dispensing, packaging, inventory management, vial filling, etc. Omnicell provides pharmacy automation (medication packing, narcotics management, and robotic pharmacy systems), automated medication dispensing, etc.

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What are the market factors that are explained in the report?

Executive Summary: It includes key trends of the global Pharmacy Automation market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the global Pharmacy Automation market based on production and revenue.

Production and Consumption by Region: It covers all regional markets focusing on the research study. It discusses prices and key players besides production and consumption in each regional market.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global Pharmacy Automation market.

Market Segments: This part of the report discusses product type and application segments of the global Pharmacy Automation market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses the research methodology and approaches Pharmacy Automation used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

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