(PharmaNewsWire.Com, February 26, 2020 ) According to the new market research report "Pharmacy Automation Market by Product (Medication Dispensing System (Robot, Carousel), Packaging & Labeling System (Unit Dose, Multi Dose), Tabletop Counter, Storage System), End User (Inpatient, Outpatient, Retail Pharmacy) - Global Forecast to 2022", , published by MarketsandMarkets™,The major factors that are expected to be driving the pharmacy automation market are the growing need to minimize medication errors, rapid decentralization of pharmacies, rising geriatric population and rising labor cost.
On the other hand, reluctance among the healthcare organizations to adopt pharmacy automation systems is expected to restrain the overall market growth to a certain extent during the forecast period. The objective of the report is to define, describe, and forecast the pharmacy automation market size based on product, end user, and region.
By product, the automated medication dispensing systems segment accounted for the largest share of the pharmacy automation market :
Based on product, the pharmacy automation market is segmented into automated medication dispensing systems, automated packaging and labelling systems, automated table top counters, automated medication compounding systems, automated storage and retrieval systems, and other pharmacy automation systems.
By end user, the retail pharmacies segment to record the highest CAGR during the forecast period :
On the basis of end users the market is classified into inpatient pharmacies, outpatient pharmacies, pharmacy benefit management organization and mail order pharmacies, and retail pharmacies.
North America to account for the largest market size during the forecast period :
North America is expected to hold the largest market size in the pharmacy automation market during the forecast period, followed by the European region. The large share of the North American pharmacy automation market can largely be attributed to the increasing number of drug prescriptions at pharmacies resulting from growth in the aging population.
Growth in insurance coverage in the U.S. has increased the burden on the country’s healthcare system, which has highlighted the need for improving efficiency and management of work in North America and also the presence of a large number of pharmacy automation companies, such as include Becton, Dickinson, and Company (U.S.), Cerner Corporation (U.S.), Capsa Healthcare (U.S.), Parata Systems LLC (U.S), Baxter International, Inc. (U.S.), Omnicell, Inc. (U.S.), ScriptPro LLC (U.S.), and Talyst System LLC. (U.S.). in this region.
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