The increasing demand for productivity, system integration, cost reduction, and increasing efficiency of work is expected to drive the market growth. Reducing medication errors, within the pharmacies thereby providing additional time to pharmacists for patient care is attributed as the major driving factor for the market growth over the forecast period.
Pharmacy Automation System is a mechanical system that executes tasks without human interference in healthcare industry. Pharmacy automation system improves the efficiency of resource utilization and medication distribution by integrating different departments such as nursing, laboratory, medication records and imaging. These systems provide efficient care to the patients by preventing medical errors and adverse drug events by checking the correct dosage. Pharmacy automation is evolving as a sophisticated technology, and pharmacists need to be educated and trained in order to effectively monitor these automated systems.
The high demand and requirements for safety, accuracy, industry standards, coupled with competency in the pharmaceutical industry by manufacturers, healthcare professionals, regulatory authorities, and consumers is expected to play a significant role in growth of this market.Increase in life expectancy, ageing population, and a significant paradigm shift from centralized to decentralized pharmacies. Moreover the need for reducing medication errors, by increasing the efficiency of work within the organization, thereby improving productivity, are attributed as the major reasons to encourage the development of the pharmacy automation market.
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Pharmaceutical industry is expected to grow at a robust rate due the progression of better healthcare facilities and technologies. Proper administration of medicine should be carried out in order to measure its success rates. These systems are expected drive medication management, by providing right medication dose to the patient at appropriate time. This factor is expected to be a major challenge of healthcare management and can be overcome by adopting pharmacy automation systems.
New opportunities in various applications is expected to continue to exist from private, small, and family owned pharmacies to large services such as hospital and mail-order facilities. In emerging economies many small, private pharmacies are still conducting operations and surgeries through manual and semi-manual methods. The opportunity to fully automate these pharmacies with increasing bar coding standards is expected to boost the market growth in such regions at a rapid rate.
Technological advancements and innovations owing to increased investment of many pharma companies in research and development can be attributed to growth in automation systems. Technology is expected to transform the traditional style of working to more sophisticated environment through which the automation systems can act effectively and efficiently in particular procedures which require repetition high concentration and complex procedures such as record keeping thereby saving both cost and time. Stringent regulatory norms, high cost of installation, restricted budget of healthcare establishments, increasing drug prices and lack of awareness of the benefits of the automation systems in emerging economies are the major factors hampering the growth of pharmacy automation.
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Based on types of technology the market can be segmented into table top counters, automated packaging, dispensing, labeling systems and medication compounding. The automated medication dispensing system is expected to be the largest market segment owing to the increasing demand for timely and automated dispensing of medicine to patients. This system provides computer monitored storage, tracking, recording of medical work, and dispensation more efficiently. These dispensing system can work on several patients at a single time simultaneously thereby allowing the medical practitioner to provide the medicines accurately.
Based on end user segment the market can be classified into outpatient, inpatient, retail and other pharmaceutical organizations. In-patient pharmacy automation market has been classified into long term care and acute care setting. Outpatient market is further classified into hospital pharmacies and fast track health centers. In patient segment is expected to have the largest market share owing to longer stay in the hospital and the requirement of healthcare monitoring and facilities.
North American is expected to be the largest market of the global pharmacy automation systems market on account of increasing demand for innovative products, presence of R& innovations and penetration of advance IT systems couples with reduction of medical errors and high healthcare regulations. Europe and Asia-Pacific are expected to witness higher growth rate over the forecast period owing to rise in population, increasing awareness of benefits in automation systems, need for enhanced and efficient healthcare facilities, risk free procedures and surgeries. In Asian countries including china and India, the aging population and increase in need for technologically innovative products by the healthcare facilities are expected to steer the market in this region.
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The key players in the market are McKesson Corporation, Care Fusion Corp., AmerisourceBergen Corporation, TalystInc. Other industry participants include Kirby Lester, ScriptPro LLC, OmnicellInc, and Baxter International Inc. The global is expected to be highly competitive comprising of numerous market players and continuous innovations and developments of new products.
Market Segment:
This report studies the global Pharmacy Automation Systems market, analyzes and researches the Pharmacy Automation Systems development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like
Market segment by Regions/Countries, this report covers
Market segment by Type, Pharmacy Automation Systems can be split into
Market segment by Application, Pharmacy Automation Systems can be split into
Table of Contents:
1 Industry Overview of Pharmacy Automation Systems
2 Global Pharmacy Automation Systems Competition Analysis by Players
3 Company (Top Players) Profiles
4 Global Pharmacy Automation Systems Market Size by Type and Application (2012-2017)
5 United States Pharmacy Automation Systems Development Status and Outlook
6 EU Pharmacy Automation Systems Development Status and Outlook
7 Japan Pharmacy Automation Systems Development Status and Outlook
8 China Pharmacy Automation Systems Development Status and Outlook
9 India Pharmacy Automation Systems Development Status and Outlook
10 Southeast Asia Pharmacy Automation Systems Development Status and Outlook
11 Market Forecast by Regions, Type and Application (2017-2022)
12 Pharmacy Automation Systems Market Dynamics
13 Market Effect Factors Analysis
14 Research Finding/Conclusion
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