DUBLIN, June 1, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Pharmacy Automation Market - Forecasts from 2017 to 2022" report to their offering.
The Pharmacy Automation market is projected to grow at a CAGR of 6.50% during the forecast period to reach a total market size of US$6.349 billion in 2022 from US$4.351 billion in 2016. The market is primarily driven by rising healthcare costs, stringent regulatory standards and regulations, and rising volume of e-prescriptions worldwide.
Pharmacy automation devices such as packaging and labeling systems, medication dispensing systems, compounding systems, storage and retrieval systems, and others are used to raise the efficiency and productivity within pharmacies by way of reducing medication errors and providing additional time to pharmacists and clinicians for patient care.
Technological advancements and development of precise robotic tools to carry out pharmacy operations will contribute to the growth of global pharmacy automation market. Moreover, the presence of untapped growth opportunities in emerging economies such as Brazil, China, and India will also fuel the market growth in the coming years.
Geographically, Americas had the largest market size of worth US$2.263 billion in 2016 and will remain at its position till the end of the forecast period. North America is the largest market for pharmacy automation system, followed by Europe, due to increasing cases of deaths and injuries caused by prescription errors in the region. Per the FDA (Food and Drug Administration), medication errors cause at least one death every day and injure approximately 1.3 million people annually in the U.S.
APAC region is anticipated to witness the fastest regional market growth at the highest CAGR of 9.99% during the forecast period owing to increasing number of EHRs (Electronic Health Records), e-prescribing, and computerized physician order entry (CPOE) in the healthcare facilities. Moreover, growing medical tourism industry in the region will further boost the demand for pharmacy automation in major hospitals and retail pharmacy chains to improve the productivity efficiently.
- Swisslog Holding
- Capsa Healthcare
- Parata System
- McKesson Corporation
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Pharmacy Automation Market Forecast by Application (US$ billion)
6. Pharmacy Automation Market Forecast by End User (US$ billion)
7. Pharmacy Automation Market Forecast by Geography (US$ billion)
8. Competitive Intelligence
9. Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/z8nfzt/pharmacy
Laura Wood, Senior Manager
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SOURCE Research and Markets