Pharmacy Automation Market Size, Industry to Witness Exceptional Growth During 2022-Industry-2029 – Designer Women
Data Bridge Market Research analyzes that the pharmacy automation market was valued at USD 5.07 billion in 2021 and is further projected to reach USD 9.88 billion by 2029, and is expected to grow at a CAGR of 8.7% during the forecast period from 2022 to 2029. Automated medication dispensing systems accounted for the largest share of the pharmacy automation market due to benefits such as better medication safety, better inventory management, and increased storage capacity with optimal utilization of the drug. space, as well as potential savings in time and money.
Pharmacy Automation Industry Market ReportThis helps to focus on important aspects of the market such as recent market trends and market conditions. The Pharmaceutical Automation Industry market report has been structured after an in-depth study of various key market segments such as market size, share, growth, demand, latest trends, market threats, and key drivers driving the market. Moreover, the report also contains all the information, including market definition, classifications, key developments, applications and commitments, while detailing the actions of major players with respect to product launches, joint ventures , developments, mergers and acquisitions and their effects in terms of sales, import, export, revenue and CAGR values. This industry analysis report talks about the manufacturing process, type and applications in detail. The compelling Pharmacy Automation Industry report consists of drivers and restraints for the market which are obtained using SWOT analysis along with their impact on the demand over the forecast period.
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Some of the major players operating in the pharmacy automation market are:
Talyst, LLC. (WE)
OMNICELL, INC. (UNITED STATES)
Cerner Corporation (USA)
Capsa Healthcare (USA)
Parata Systems, LLC (USA)
RxSafe, LLC. (WE)
RxMedic Systems, Inc. (USA)
MedAvail Technologies, Inc. (Canada)
Asteres Inc. (USA)
PerceptiMed, Inc. (USA)
McKesson Corporation (USA)
AmerisourceBergen Corporation (USA)
vitabook GmbH (Germany)
Willach GmbH (Germany)
This competitive era requires companies to be equipped with the know-how of major market events and pharmaceutical automation industry. The Pharmaceutical Automation Industry market report has been structured after an in-depth study of various key market segments such as market size, share, growth, demand, latest trends, market threats, and key drivers driving the market. Market segmentation is done in terms of markets covered, geographical scope, years considered for the study, currency and price, research methodology, primary interviews with key opinion leaders, DBMR Market Position Matrix, DBMR Market Challenges Matrix, Secondary Sources and Assumptions. For better decisions, more revenue generation and profitable business, such a market research report on Pharmacy Automation industry is the key. All this data and information is very important for companies when it comes to characterizing production, marketing, sales, promotion and distribution strategies for products and services.
Pharmacy Automation Market Dynamics
Increased demand to minimize medication errors
Medication and dispensing errors are widely recognized as the leading causes of hospital readmissions worldwide. Medication error can occur due to a number of factors, including poor communication between doctor and pharmacist, unsafe pharmacy storage practices, and confusion caused by using similar labels, which will expedite market growth.
Introduction of technological advancements and development of automated systems with improved pharmacy automation systems results in higher success rate and new applications of the device with higher demand for innovative products to compose, dispense, store and label prescription drugs, propelling the growth of the pharmacy automation market.
Increase in the geriatric population
There has been an increase in the global geriatric population. As a result, the prevalence of chronic and life-threatening diseases is increasing just as the distribution of drugs is further expected to propel the growth of the market.
Furthermore, the growing awareness among pharmacists is further expected to offer potential opportunities for the growth of the pharmacy automation market in the coming years.
On the other hand, the lack of adoption of pharmacy automation systems is further expected to hamper the growth of the pharmacy automation market over the targeted period. However, the stringent regulatory procedures might still challenge the growth of the pharmacy automation market in the near future.
Global pharmacy automation market scope and market size
Type of pharmacy
- Large pharmacy
- Medium-sized pharmacy
- Small pharmacy
- Distribution and packaging of drugs
- Medication storage
- Inventory management
- Inpatient pharmacies
- Ambulatory pharmacies
- Retail pharmacies
- Online pharmacies
- Central Filling/Mail Order Pharmacies
- Pharmacy benefit management organizations
- Direct call for tenders
- Third Party Distributor
Research methodology :
- Both top-down and bottom-up approaches are used to estimate and validate the global Pharmacy Automation market size
- In order to attain an exhaustive list of functional and relevant players who offer pharmacy automation, various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep into important geographies .
- Subsequently, a thorough validation test is carried out to reach the most relevant players having a specific product line, i.e. Pharmacy Automation.
- In order to make the list prioritized, sorting is done based on revenue generation according to the latest reports using paid databases such as Factiva, Bloomberg, etc.
- Finally, the questionnaire is defined and specifically designed to meet all the necessities of primary data collection after obtaining a prior appointment. This helps us gather data on revenue, profit, revenue, growth, etc. players.
- Nearly 80% of data is collected through primary medium and further validation is done through various secondary sources including regulators, World Bank, association, company website, annual reports, press releases press, etc
The full report is available (including full table of contents, list of tables and figures, charts and graph) @ https://www.databridgemarketresearch.com/toc/?dbmr=global-pharmacy-automation-market&Ab
Some of the important questions for stakeholders and business professionals to expand their position in the pharmacy automation market:
Q 1. Which Region offers the most rewarding open doors for the market before 2022?
Q 2. What are the trade threats and impact of latest scenario on market growth and estimation?
Q 3. What are probably the most encouraging development scenarios for the Pharmacy Automation movement showcase by applications, types and regions?
Q 4.Which segments are attracting the most attention in the pharmacy automation market in 2022 and beyond?
Q 5. Who are the significant players competing and growing in the Pharmacy Automation Market?
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