DUBLIN--(BUSINESS WIRE)--The "Pharmacy Automation Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030" report has been added to ResearchAndMarkets.com's offering.
The market for pharmacy automation is expected to grow at a CAGR of 10% during the forecast period of 2022 to 2030.
Companies Mentioned
- Amerisource Bergen Corporation
- Baxter International Inc
- CareFusion Corporation
- Cerner Corporation
- Health Robotics SRL
- McKesson Corporation
- Kirby Lester
- ScriptPro LLC
- Yuyama Co. Ltd
- Talyst Inc
- Swisslog Holding Ltd
The primary factors driving expansion in the market are an increasing emphasis on automating tasks in order to cut down on the cost of labor and an increase in the dispensing of specialty drugs.
Additionally, organizations that specialize in pharmacy automation are looking for new business prospects by increasing their presence in emerging markets.
However, the expansion of this industry may be hampered by the high costs associated with deploying pharmacy automation systems as well as by rigorous regulations that cause delays in product introductions. The retail pharmacy industry all over the world is undergoing significant transformation as a result of the introduction of pharmacy automation technologies, analytics, and software.
Not only has the sector been more profitable as a result of automation, but it has also become significantly more efficient as a result of automation. Because of the automation, there has been a discernible reduction in the amount of medication that is thrown away; as a result, the cost of each dose has fallen. It has also made it easier for pharmacists to control workflow, allowing them to place a greater emphasis on the satisfaction of their customers. In recent years, there has been a meteoric rise in the annual expenditure on pharmaceuticals (prescription and over-the-counter treatments).
Increased Focus on Improvising Quality Care
Pharmacists in industrialized nations are putting into practice new ways that will improve the drug procedure in terms of both its safety and its effectiveness. It's possible that optimizing medicine distribution with the use of automated drug dispensing systems (ADS) could be beneficial in a variety of hospital departments, including intensive care units. Because the mundane tasks of compounding, dispensing, labeling, and packaging the pharmaceuticals are taken care of by automated equipment in pharmacies, pharmacists are now able to devote more of their time to providing high-quality care to individual patients.
Significant Role in Elimination of the Drug Errors
Errors in medication and inaccuracies in the way drugs are administered pose significant dangers to patients. These errors lead to the causation of deaths that may have been avoided in a hospital setting. According to the findings of the study, around 98,000 people lose their lives in hospitals due to preventable medical errors.
Need for High Capital Investment Limits the Market Expansion
A number of professionals and providers in the healthcare industry are hesitant to adopt or accept IT-based approaches to pharmacy administration, despite the benefits that these techniques offer. This is especially clear when cultural barriers are present, especially in developing economies where the economy is still relatively young.
As a consequence of this, many pharmacists do not want assistance and are hesitant to include pharmacy automation technologies into their normal dispensing routine. The widespread adoption of technology demonstrates that automated pharmacy systems offer significant benefits; however, up until recently, only large-volume pharmacies and hospitals were able to justify the returns on investment (ROI) obtained from installing these automated systems. Despite the fact that automated pharmacy systems offer significant benefits, the widespread adoption of technology continues to verify this.
Key Questions Answered in this Report
- What are the key micro and macro environmental factors that are impacting the growth of Pharmacy Automation market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Pharmacy Automation market?
- Which is the largest regional market for Pharmacy Automation market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Pharmacy Automation market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Pharmacy Automation market worldwide?
Key Topics Covered:
1. Preface
2. Executive Summary
3. Pharmacy Automation Market: Business Outlook & Market Dynamics
3.1. Introduction
3.2. Global Pharmacy Automation Market Value, 2020 - 2030, (US$ Million)
3.3. Market Dynamics
3.3.1. Market Drivers
3.3.2. Market Restraints
3.3.3. Key Challenges
3.3.4. Key Opportunities
3.4. Impact Analysis of Drivers and Restraints
3.5. See-Saw Analysis
3.6. Porter's Five Force Model
3.7. PESTEL Analysis
4. Pharmacy Automation Market: By Product Type, 2020-2030, USD (Million)
5. Pharmacy Automation Market: By End Use, 2020-2030, USD (Million)
6. North America Pharmacy Automation Market, 2020-2030, USD (Million)
7. UK and European Union Pharmacy Automation Market, 2020-2030, USD (Million)
8. Asia Pacific Pharmacy Automation Market, 2020-2030, USD (Million)
9. Latin America Pharmacy Automation Market, 2020-2030, USD (Million)
10. Middle East and Africa Pharmacy Automation Market, 2020-2030, USD (Million)
11. Company Profile
For more information about this report visit https://www.researchandmarkets.com/r/c5roxk
