The pharmacy automation market is expected to reach $4,566.2 million by 2019 from $3,165.9 million in 2014, growing at a CAGR of 7.6% during the forecast period.
(PRWEB) August 08, 2014
The pharmacy automation systems market research report studies and analyzes the pharmacy automation systems market by product and end user. The market by product includes pharmacy automation systems such as automated medication dispensing systems, automated packaging and labeling systems, automated medication compounding systems, storage and retrieval systems, table-top counters, and other systems; whereas, the market by end user comprises inpatient pharmacy automation, outpatient pharmacy automation, retail pharmacy chains, and pharmacy benefit management organizations and other mail-order settings. The pharmacy automation market is expected to reach $4,566.2 million by 2019 from $3,165.9 million in 2014, growing at a CAGR of 7.6% during the forecast period.
Complete report is available at http://www.rnrmarketresearch.com/pharmacy-automation-systems-market-by-product-type-medication-dispensing-systems-packaging-and-labeling-systems-table-top-counters-by-end-user-inpatient-pharmacy-automation-outpatient-pharmacy-market-report.html.
The North American region will continue to dominate the pharmacy automation systems market, followed by Europe, Asia-Pacific, and RoW. The Asian region is anticipated to grow at a faster pace due to the increasing awareness and adoption of technologies that boost the demand for pharmacy automation systems in this region.
Factors such as the increase in the number of drug prescriptions at the pharmacies that increase the adoption of automated systems for efficient workflow, rise in the healthcare expenditure, and the need for reduction in the medication errors propel the growth of this market. However, the shrinking budgets, higher costs associated with implementation of pharmacy automation systems, and severe regulations delaying the product launch in certain countries can hamper the growth of this market.
The prominent players in the pharmacy automation systems market are Baxter International Inc, Carefusion Corporation, Cerner Corporation, Kirby Lester, Mckesson Corporation, Murata Omnicell Inc, Parata Systems LLC, Scriptpro LLC, Swisslog Holding AG, and Talyst Inc.
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The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering greater market shares. Firms purchasing the report could use any one or a combination of the five strategies – market penetration, product development/innovation, market development, market diversification, and competitive assessment – for increasing their market shares.
The report analyzes the pharmacy automation systems market into four geographies, namely: North America, Europe, Asia-Pacific, and RoW. North America accounted for the largest share in the global pharmacy automation systems market followed by Europe, APAC, and RoW. However, developed regions such as North America and Europe are expected to grow at a slower pace during the forecast period due to saturation of these markets. On the other hand, the Asian region is anticipated to grow at a faster pace due to increasing awareness and adoption of technologies that boost the demand for pharmacy automation systems in this region.
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