Report Sellers has added a new market research report “Pharmacy Automation Market – Forecasts From 2017 to 2022” to its offerings. The report is an in-depth market study providing accurate market insights including the latest trends, forecast, competitive insights, etc.
According to the report, Pharmacy Automation Market is projected to grow at a CAGR of 6.50% during the forecast period to reach a total market size of US$6.349 billion in 2022 from US$4.351 billion in 2016. The market is primarily driven by rising healthcare costs, stringent regulatory standards and regulations, and rising volume of e-prescriptions worldwide.
Pharmacy automation devices such as packaging and labeling systems, medication dispensing systems, compounding systems, storage and retrieval systems, and others are used to raise the efficiency and productivity within pharmacies by way of reducing medication errors and providing additional time to pharmacists and clinicians for patient care. Technological advancements and development of precise robotic tools to carry out pharmacy operations will contribute to the growth of global pharmacy automation market. Key industry players in the market section are Omnicell, Swisslog, McKesson, Parata, and ScriptPro.
Browse through the complete description and in-depth TOC on “Pharmacy Automation Market”
Pharmacy Automation Market has been segmented by end user and geography.
Pharmacy Automation Market by end user
Hospital pharmacy and retail pharmacy are the major end-users of pharmacy automation. Hospital pharmacy is projected to reach a total market size from US$1.339 billion to US$1.836 billion by 2022 due to increasing number of patients worldwide, owing to growing global ageing population and increasing number of road accidents. Retail pharmacy will witness the fastest growth at the highest CAGR of 6.98% during the forecast period due to increasing demand for OTC (Over the Counter) drugs and increasing number of prescriptions to be handled by local pharmacists worldwide.
Pharmacy Automation Market by geography
Geographically, Americas had the largest market size of worth US$2.263 billion in 2016 and will remain at its position till the end of the forecast period. North America is the largest market for pharmacy automation system, followed by Europe, due to increasing cases of deaths and injuries caused by prescription errors in the region. Per the FDA (Food and Drug Administration), medication errors cause at least one death every day and injure approximately 1.3 million people annually in the U.S. APAC region is anticipated to witness the fastest regional market growth at the highest CAGR of 9.99% during the forecast period owing to increasing number of EHRs (Electronic Health Records), e-prescribing, and computerized physician order entry (CPOE) in the healthcare facilities.
We have a large number of reports in Healthcare which can be accessed in the following link: https://www.reportsellers.com/category/healthcare-market-research-report
About Report Sellers
Report Sellers is a premium market research service provider offering market reports in varied sectors. We have a team of experienced analysts and publishers who continuously track the latest trends in different industries. Report Sellers is a brand of global repute and offers the best suited research services to its clients globally in the most satisfying manner. We have a strong network of industry experts who have successfully delivered complex research assignments in niche and top markets.
For more information, contact