Increasing demand for accuracy, safety, industry standards and competency in the pharmacy environment by regulatory authorities, manufacturers, healthcare professionals and consumers has forced the growth of the pharmacy automation market.
Dallas, Texas (PRWEB) September 30, 2012
This report says global inpatient and outpatient pharmacy automation market was valued at $2.4 billion in 2011 and should reach $2.6 billion in 2012. Total market value is expected to reach nearly $3.9 in 2017 after increasing at a five-year compound annual growth rate (CAGR) of 8%. The inpatient segment of the pharmacy automation market is expected to have a value of nearly $2 billion in 2012 and more than $2.8 billion in 2017, a CAGR of 7.3%. The outpatient segment should total $636 million in 2012 and $1 billion in 2017, a CAGR of 10.1%.
Although pharmacy automation dates back to the 1970s with the introduction of pill-counting machines, the pharmacy automation market continues to advance and deliver impressive technology and improve efficiency. The increasing demand for accuracy, safety, industry standards and competency in the pharmacy environment by regulatory authorities, manufacturers, healthcare professionals and consumers has forced the growth of this market.
New opportunities in various settings will continue to surface—from small, private, family-owned pharmacies to large hospital and mail-order service facilities, such as Express Scripts/Medco Health Solutions. Many small, private pharmacies are still conducting operations through manual and semimanual methods, particularly in regions outside of the United States. The opportunity to fully automate these pharmacies surfaces more often each year, and with a growing compliance with bar-coding standards and new tracking capabilities with radio-frequency identification (RFID) technology, this trend will continue to increase at a rapid rate. A large portion of inpatient facilities are already highly automated; however, there are advancements in technology and performance improvements every year, and these pharmacies will continue to seek out the most efficient system to upgrade to. In order to remain competitive in the pharmaceutical dispensing business, organizations will be highly dependent on efficient automation systems. Therefore, upgrades are likely to be an ongoing process.
This report is designed to be a helpful business tool that will provide a thorough evaluation of the global pharmacy automation market. The geographical scope is global with special emphasis on the United States/Canada and developed Europe, with supplemental data covering other geographical markets and trends. The report identifies pharmacy automation markets by inpatient and outpatient pharmacy settings, and by product type. Within the global pharmacy automation market, there are two general pharmacy settings, each having other subsettings:
Inpatient pharmacy automation.
- Acute-care settings.
- Long-term care settings.
Outpatient pharmacy automation.
- Outpatient/fast-track clinical settings.
- Hospital retail settings.
- Pharmacy benefit management services and other mail-order settings.
- Retail pharmacy chains.
Each segment is further extrapolated to provide detailed information of current and emerging products, current market estimates and market forecasts, and competitive analyses.
All market data pertains the global market at the manufacturers’ level. Data are expressed in current U.S. dollars. The base year of the report is 2012, with historical data provided for 2009, 2010 and 2011, and forecast data provided for 2017. Historical base year and forecast data are provided for each market segment of the report. Competitor market share estimates are provided for each market segment for the 2012 base year.
Although this study provides information on a variety of pharmacy automation equipment, it does not include a comprehensive list of products available. Many companies offer products to a variety of industry types, including, but not limited to, the following industries:
- Appliance industry.
- Aircraft industry.
- Automotive industry.
- Electrical and electronics industry.
- Communications industry.
- Food production industry.
Some systems not covered in this study include those that are primarily used in other industry types but are, however, designed to accommodate other settings, including the medical and pharmacy industries.
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