Pharmacy automation system involves the automation of workflow tasks in the fields of pharmacy or healthcare, such as object counting, prescription management, compound preparation, dispensing, medication packaging and inventory management. An effective management system is needed to tackle the problem of prescription errors that have led to an increasing number of injuries and deaths. Pharmacy automation systems are effective tools to reduce prescription errors and ensure patient safety. The pharmacy automation system market is expected to grow with a healthy CAGR due to the increasing number of prescriptions and growing pressure to reduce prescription errors, growing healthcare expenditure, and workflow optimization offered by the new automated systems. Bar-coding standards and radio-frequency identification (RFID) system, which are being increasingly adopted, are the current trends in the pharmacy automation market. The pharmacy automation system market is diversified and exhibits intersegment competition. CareFusion Corp., OmniCell Inc., AmerisourceBergen Corp, Swisslog Holdings AG., ScriptPro LLC McKesson Corp., Parata System Inc., and Kirby Lester are some of the key players in the pharmacy automation system market. Retail pharmacies and hospitals are the major end-users in this market.
Pharmacy automation system market is segmented on the basis of application, end-user and geography. The application segment is further categorized into Automated medication dispensing, Automated storage and retrieval systems, Automated packaging and labeling, Table-top tablet counter and Automated compounding devices. These automation technologies provide time efficiency and accurate management of functions and processes performed in the pharmacy and healthcare system. Based on end-users, the pharmacy automation system market is segmented into Retail Pharmacy and Hospital pharmacy. Geographically, the pharmacy automation system market is segmented into North America, Europe, Asia-Pacific and LAMEA. North America is the largest market for pharmacy automation system followed by Europe. Prescription errors are one of the main causes of death and injuries in North America. Developed economies such as US and Canada are striving to replace the current automation system with advanced technologies and are potential markets for replacement technologies. Asia-Pacific and LAMEA are the fastest growing segments in the pharmacy automation system market due to growing awareness and improving healthcare infrastructure.
- In-depth coverage of the pharmacy automation system market including drivers, restraints and opportunities would help professionals to better understand market behavior
- Detailed study of the strategies of key leaders, partnerships and acquisitions in the pharmacy automation system market would be informative for professionals in the corporate sector
- Porter’s Five Forces analysis examines the competitive structure of the pharmacy automation system market and would assist market strategists in their decision making process
- Pin-point analysis of geographic segments helps to identify opportunities for growth within the pharmacy automation system market
KEY MARKET SEGMENTS
The pharmacy automation systems market is segmented into three major categories: application, end-user and geography.
MARKET BY APPLICATION
- Automated Medication Dispensing
- Automated Storage and Retrieval Systems
- Automated Packaging and Labeling
- Table-top Tablet Counter
- Automated Compounding Devices
MARKET BY END-USER
- Retail Pharmacy
- Hospital pharmacy
MARKET BY GEOGRAPHY
- North America