The mechanical process of handling and distributing pharmaceuticals is known as Pharmacy Automation Systems. This reduces filling errors, allows for more prescriptions to be filled in less time, and improves patient safety and employee productivity. The pharmacy automation systems market is driven by the need to eliminate medication errors, the advantages of pharmacy automation systems over manual medicine distribution, and the development of new features. Furthermore, improvements in emerging-market healthcare infrastructure are expected to open up new market opportunities.
The "Global Pharmacy Automation Systems Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the pharmacy automation systems market with detailed market segmentation by product and end user. The report provides key statistics on the market status of the leading pharmacy automation systems market players and offers key trends and opportunities in the market.
- Based on product the market is segmented as, automated medication dispensing systems, automated storage and retrieval systems, automated packaging and labelling systems, tabletop tablet counters, automated compounding devices, other pharmacy automation systems.
- Based on end user the market is segmented as, hospital pharmacies, retail pharmacies and others.
- Growing need to reduce medication errors and advantages of automatic system over manual pharmacy handling is the key driver for the market growth.
- Rising automation across pharmacies.
- Decentralization of pharmacies is expected to create significant growth opportunities for the market.
- Benefits such as reduced labor costs, increased efficiency, less errors are also expected to spur the market growth.
- However, requirement of higher capital investment and reluctance in implementation of pharmacy automation are likely to restrain market growth.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The pharmacy automation systems market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the pharmacy automation systems market in these regions.
IMPACT OF COVID-19ON PHARMACY AUTOMATION SYSTEMS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
The report covers key developments in the pharmacy automation systems market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from pharmacy automation systems market are anticipated to lucrative growth opportunities in the future with the rising demand for pharmacy automation systems in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the pharmacy automation systems market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Capsa Healthcare
- Cerner Corporation
- Talyst, LLC
- Omnicell Inc.
- Parata Systems LLC
- Rxsafe LLC
- Scriptpro LLC
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.