Global Pharmacy Automation Systems Market to Log 7.3% CAGR from 2012-2018, Driven by Emphasis on Reducing Medical Errors The new research study, titled ‘Pharmacy Automation Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018’, published by TMR states that the global pharmacy automation systems market stood at US$4.7 bn in 2011 and is expected to grow rapidly and reach a market value of US$7.8 bn by 2018. During the forecast period from 2012 to 2018, the market is expected to display a compound annual growth rate of 7.3% due to several key driving forces acting upon the market. Several operations in industries are now partially or fully automated, and pharmacies are no exception. The integration of several different technologies for automating pharmacy operations is a defining trend in the pharmacy automation systems market. In recent years, processes and operations that have been automated include: compound preparation, tablet counting, dispensing and inventory management, medical packaging, and prescription management. Many different machines are used for this purpose. Some of the advantages of pharmacy automation systems include the ability to stock the right quantity of medication at the specified location, dispensing the right dosage of medicine, and to increase the overall efficiency of a pharmacy while keeping costs low.
The trend of e-prescribing is aiding the growth of the global pharmacy automation systems market. TMR’s report segments the market into smaller sections based on various criteria to offer insight into the micro and macro factors at play. By application, the report segments the pharmacy automation systems market into automated medication dispensing, automated storage and retrieval systems, automated packaging and labeling, tablet-top tablet counter, and automated compounding devices. The automated medication dispensing systems segment represented about 48% of the worldwide market in 2011 owing to the pressing need to prevent medical prescription errors. The segment accounted for US$2.3 bn in revenue in 2011. TMR analysts predict that the automated medication dispensing systems segment will generate revenue to the tune of US$3.6 bn by 2018, reporting a compounded annual growth rate of 6.7% from 2012 to 2018.
The report also segments the pharmacy automation systems market by end-user into retail pharmacy and hospital pharmacy. Likewise, the report also segments the global pharmacy automation systems market into North America, Asia Pacific, Europe, and Rest of the World. The demand for pharmacy automation systems has been high in regions such as North America and Europe, where pharmacies are more willing and able to invest in technology. However, developing regions such as Asia Pacific and some countries in the Middle East are also exhibiting healthy demand for pharmacy automation systems as their healthcare sector expands and mandates become tighter. The market for pharmacy automation systems in emerging nations in Asia Pacific and Rest of the World still has much ground to cover because awareness levels are not as high among pharmacy owners. Browse Full Research Report on Pharmacy Automation Systems Market: http://www.transparencymarketresearch.com/pharmacy-automation-systems.html The recent developments reported by major companies in the global pharmacy automation systems market are analyzed in the report. Companies that have been profiled include: CareFusion Corporation, McKesson Corporation, AmerisourceBergen Corporation, Cerner Corporation, Omnicell Inc, Health Robotics SRL, Yuyama Co., Ltd, and others. These players operate in a fragmented market and the degree of competition varies from one sector to another. Pharmacy automation market analysis by application, 2012 – 2018 • • • • •
Automated medication dispensing Automated packaging and labeling Automated storage and retrieval systems Automated compounding devices Table-top tablet counter
Pharmacy automation market analysis, by end users, 2012 – 2018 • •
Automation in hospital pharmacy Retail Pharmacy
Browse Full Press Release on Pharmacy Automation Systems Market: Press Release
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