Published on : Dec 20, 2017
ALBANY, New York, December 20, 2017: A detailed market research report recently added to the portfolio of ResearchMoz.us covers the present growth dynamics of the global market for pharmacy automation systems. The report, titled "Pharmacy Automation Systems Market: Global Industry Analysis 2012 - 2016 and Opportunity Assessment 2017 - 2027, " states that the market will exhibit a promising 6.3% CAGR over the period between 2017 and 2027. The market was valued at US$3,344.7 mn in 2016.
The report states that the market is primarily driven due to the increased adoption of automated solutions and systems across pharmacies globally. Socio-economic factors such as the rising population of geriatrics, rising prevalence of a number of diseases, and increased expenditure on healthcare are also contributing to the overall growth prospects of the global pharmacy automation systems market. However, the high base cost of installation and implementation of advanced pharmacy automation systems could act as a hindrance for the market, limiting their adoption across emerging economies and cost-conscious consumers.
In terms of product, the report segments the global pharmacy automation systems market into robotic dispensing systems, medication dispensing cabinets, medication dispensing cabinets (ADC), IV pharmacy (automated drug compounding), tablet splitters, carousal storage systems, and packaging and labeling systems.
In terms of application, the report segments the global pharmacy automation systems market into drug storage, drug dispensing and packaging, and inventory management. Of these, the segment of drug dispensing and packaging held the dominant share in the overall market in 2016 and is also expected to account for the dominant share in the market over the report's forecast period as well. However, the inventory management segment is expected to outpace other segments in terms of growth pace over the report's forecast period.
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On the basis of key end users, the report segments the global pharmacy automation systems market into pharmaceutical SMEs, hospital pharmacies, clinic pharmacies, mail order pharmacies and retail pharmacies. Of these, the segment of hospital pharmacies is presently the highest contributor to the market in terms of revenue opportunity owing to the vast adoption of pharmacy automation in several developed economies.
The report presents an analysis of the pharmacy automation systems market across regions such as Latin America, North America, Western Europe, Eastern Europe, Japan, Asia Pacific excluding Japan (APEJ), and Middle East and Africa. Of these, the market in North America emerged the most lucrative in 2016, accounting for the dominant share in terms of global revenue. The regional market is also expected to remain at the leading spot over the forecast period as well, registering a promising 6.1% CAGR over the report's forecast period.
The report states that the market in APEJ and Japan will register the fastest pace of expansion over the report's forecast period. The market in Western Europe is also likely to expand at a promising pace owing to the rising inclination of pharmacists towards automated technologies for more effective service quality. The market in Western Europe is expected to exhibit a 6.8% CAGR over the report's forecast period.
The report also presents a thorough analytical overview of the vendor landscape of the global pharmacy automation systems market. The report includes vast analytical data pertaining to the nature of competition in the market, leading vendors, and recent developments. Some of the most active and most impactful vendors in the global market are Baxter International Inc., CareFusion Corporation (Becton, Dickinson and Company), Swisslog (Kuka AG), Kirby Lester (Capsa Solutions, LLC), Cerner Corporation, ScriptPro LLC, and Omnicell Inc.
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