Pharmacy Automation Market healthy growth rate during the last decade and is expected to grow at a CAGR of 8.2%
According to the new market research report “Pharmacy Automation Market by Product (Medication Dispensing System (Robot, Carousel), Packaging & Labeling System (Unit Dose, Multi Dose), Tabletop Counter, Storage System), End User (Inpatient, Outpatient, Retail Pharmacy) - Global Forecast to 2022", published by MarketsandMarkets™, The pharmacy automation market witnessed healthy growth rate during the last decade and is expected to grow at a CAGR of 8.2% between 2017 and 2022 to reach USD 5.38 Billion by 2022. The growth in this market is mainly attributed to factors such as growing need to minimize medication errors, rapid decentralization of pharmacies, rising geriatric population, and rising labor cost.
Don’t miss out on business opportunities in “Pharmacy Automation Market”. Speak to our analyst and gain crucial industry insights that will help your business grow: bit.ly/2Cydgb3
The global pharmacy automation market is segmented on the basis of product, end users and regions. The study also provides product portfolio assessment which compares offerings of major market players; value chain analysis; market penetration rate in various geographies; market dynamics; industry trends; and business strategy matrix for pharmacy automation market.
In 2016, automated medication dispensing systems accounted for the largest share of the pharmacy automation market. The factors such as improved medication safety, better inventory management, improved storage capacity with optimal utilization of space, and potential time and cost savings are the major drivers of market growth.
The inpatient pharmacies end user segment accounted for the largest share of pharmacy automation systems market. The increasing need for improved accuracy and efficiency of pharmacy units in hospitals and the growing need to minimize the waiting time in inpatient pharmacies are key market drivers in this end-user segment.
The leading position of McKesson can mainly be attributed to its well-established position in the pharmaceutical distribution business in the U.S. and Canada as well as its strong portfolio of pharmacy automation systems.
In the last few years, the company has launched several products such as EnterpriseRx (a next-generation pharmacy software system), Your Pharmacy Online (a mobile application), ExpressRx Track (a pharmacy automation solution), ScanAbility (Barcode Medication Administration Analytics Tool), and McKesson Ambulatory Pharmacy Solutions, to name a few. These products have helped to reinforce the company’s product portfolio, thereby giving it a competitive advantage over other players in the market.
Browse and in-depth TOC on “Pharmacy Automation Market”
181 - Tables
54 - Figures
218 - Pages
View more detailed TOC @ www.marketsandmarkets.com/Market-…22890.html
The key strategies implemented by major players in the global pharmacy automation systems market were acquisitions, new product launches, agreements, collaborations, and partnerships and expansions. Most companies in the pharmacy automation systems market adopted the strategy of new product launches to increase their market presence and strengthen their product portfolios.
This strategy was adopted by leading players like CareFusion Corporation (U.S.), Mckesson Corporation (U.S.), Omnicell, Inc. (U.S.), ScriptPro LLC (U.S.), Kirby Lester LLC.
(U.S.), Swisslog Holdings AG (Switzerland), and Talyst, Inc. (U.S.). Agreements, collaborations, and partnerships were also important growth strategies adopted by leading market players in order to increase revenues and sustain long-term growth in the pharmacy automation systems market.
Thus, with continuous innovations and new products launches MacKesson Corporation (U.S.) and CareFusion Corporation (U.S.) still dominates the global pharmacy automation market.
Request for Free Sample Report @ bit.ly/2ywwYPK
Category: Market Research Publishers and RetailersCompany about: MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth ...