The analysts of Healthcare Intelligence Markets have thoroughly examined the Global Pharmacy Automation Market and have anticipated that the market will grow at a CAGR of +7% during the forecast period.
Pharmacy automation is a mechanical process where handling and distribution of medicines takes place at places like hospital pharmacy or at a retail pharmacy. It includes all sorts of pharmacy task that involves counting of small objects such as tablets or capsules, measuring and mixing of powders and liquids for compounding, tracking and updating customer information in databases such as personally identifiable information (PPI), drug interaction, risk interaction and inventory management. The pharmacy automation market is expected to favor the growth owing to features such as system integration, which increases the productivity and time to clinicians for patient care.
The advantages of pharmacy automation systems over manual methods and high capital investment are the major key factors that are driving the growth of the market.
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The Pharmacy Automation Market provides its segmentations by end user such as automation in hospital pharmacy, retail pharmacy and others. Along with this, it also provides an in-depth analysis of the prominent factors that influence the market which includes drivers, opportunities, trends and industry-specific challenges.
Some of the players operating in the pharmacy automation market are Baxter International Inc., Becton, Dickinson and Company, Cerner Corporation, Capsa Healthcare, McKesson Corporation, Omnicell Inc., ScriptPro LLC, Swisslog Holdings AG, Talyst, Inc., Yuyama Co., Ltd., among the others.
Becton, Dickinson and Company has come up with its new inventory system named Pyxis PARx™ system, which is a pharmacy auto-replenishment. It automates the medication refill process to help ensure that the right medication is being directed. This system uses bar code scanning technology to help catch medication errors at one of the first points they can occur in the pharmacy.
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The rise in the medication costs are letting the healthcare centers to foresee the pressure of cost reduction of pharmacy. This particularly is expected to drive the market globally. However, the prescription errors that has been a major issue altogether, is limiting the growth of the pharmacy automation market massively. But, due to the demand for pharmaceutical products, technologically advanced robotic equipment and tools perform operations at a faster rate. This will eventually help the market to grow in the near future.
• By Application
o Automated Medication Dispensing
o Automated Packaging and Labeling
o Automated Storage and Retrieval Systems
o Automated Compounding Devices
o Table-Top Tablet Counter
• By End User
o Automation in Hospital Pharmacy
o Retail Pharmacy
• By Geography
o North America
o Asia Pacific