Pune, 06, Dec, 2022: The report analysed by Maximize Market research, on Pharmacy Automation Market, covers an extensive regional analysis and competitive landscape. Over the forecast period, Maximize Market research expects, the market to growth from 6 Bn in 2021 to 11.5 Bn in 2029 at a CAGR of 8.5 %.
Pharmacy Automation Market Scope and Research Methodology
The research on pharmacy automation, market size, price, mergers and acquisitions, demand, the supply chain, investments by leading rivals, and expansion plans are all quantitatively analyzed and forecasted. The Porter Five Forces model illustrates how suppliers and customers form supplier-customer networks and make profit-driven choices. Through in-depth segmentation and analysis, the potential of the current pharmacy automation market is determined. Investors will have a thorough understanding of the industry’s future from the analysis, as well as the factors that may favorably or unfavorably impact the company.
For the investors, the study provides a complete understanding of the market. The report analysis includes future market size forecasts along with historical and present situations for the pharmacy automation market. Every facet of the market is covered by the in-depth study of significant competitors in the report, including market leaders, followers, and new entrants. The study includes strategic profiles of the leading market players, a thorough analysis of their core strengths, and information on their company-specific plans for the launch of new products, growth, partnerships, joint ventures, and acquisitions. The research serves as a reference for investors with its clear depiction of competitive analysis of key organizations by product, pricing, financial condition, product portfolio, growth strategies, and regional presence in the domestic as well as the local market.
For a segment-wise analysis of the Pharmacy Automation Market, it is divided by Product, End-use, and for understanding the factors affecting the market growth positively and negatively. The bottom-up approach was employed to validate the market size and its estimation by different segments. Data was collected employing both primary and secondary data collection methods. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals were included in the primary methods. Secondary data was meticulously collected from a curated selection of sources for maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases.
SWOT analysis was conducted to provide the strengths and weaknesses of the Pharmacy Automation Market while PESTLE was employed to understand the potential impact of the micro-economic factors affecting the Pharmacy Automation Market.
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Pharmacy Automation Market Overview
Any activity that uses technology to manage and distribute pharmaceuticals is referred to as pharmacy automation. The two most prevalent types of automation are robotics and pill counters. It enables pharmacies to improve workflows and lower the possibility of mistakes. It frequently has advantages like increasing prescription volume and effectiveness.
Automated procedures for handling and administering medications are included in pharmacy automation. The job also involves managing inventory, tracking and updating customer records in the database, calculating and mixing powders and liquids for compounding, and counting small objects. The key elements expected to drive pharmacy automation market growth include the rising requirement to prevent pharmaceutical errors, technological advancements by industry players, pharmacy decentralization, and an aging population. Furthermore, the rising pharmaceutical business in developing nations is expected to fuel market growth.
Pharmacy Automation Market Dynamics
The retail pharmacy system is changing globally because to software, analytics, and pharmacy automation technologies. The sector is now more profitable and has more efficiency thanks to automation. Automation significantly reduces the amount of medication that is wasted, which lowers the cost per dose. Additionally, with a stronger focus on patient happiness, it has made it simpler for pharmacists to manage workflow. Prescription and over-the-counter medicine spending have increased in recent years. These elements are promoting the growth of the pharmacy automation market.
IT-based pharmacy management systems have many advantages, but some healthcare professionals and providers are hesitant to adopt or accept them in the pharmacy automation market. This is particularly obvious when there are cultural obstacles, particularly in the economy of emerging nations. Because of this, many pharmacists are hesitant to use pharmacy automation systems in their dispensing procedures and do not want assistance. Although the automated pharmacy market offers significant advantages, and broad technological adoption up until this point attests to this, only high-volume pharmacies and hospitals could afford the expenditure. ROIs realized after putting in place these automated methods.
Pharmacy Automation Market Regional Insights
The prevalence of numerous chronic diseases and the number of patients in the region have both contributed to the enormous growth of the North American pharmacy automation market. The need to focus on providing value-based treatment to patients in the United States is dictated by an increase in the frequency of prescription errors caused by human interaction in the administration of specialty medications, which has led to an increase in the demand for pharmacy automation systems.
Asia-Pacific is the third-largest region. The decentralization of pharmacies, the increased need to reduce medication errors, and the growing need for specialty drug prescription filling solutions are the main factors driving the Chinese pharmacy automation market.
Pharmacy Automation Market Segmentation
- Medication Dispensing Systems
- Robots/Robotic Automated Dispensing Systems
- Automated Dispensing Cabinets
- Packaging And Labeling Systems
- Storage And Retrieval Systems
- Automated Medication Compounding Systems
- Tabletop Tablet Counters
- Retail Pharmacy
- Inpatient Pharmacies
- Outpatient Pharmacies
- Pharmacy Benefit Management Organizations and Mail-Order Pharmacies
Pharmacy Automation Market Key Manufacturers:
- Amerisource Bergen Corp.
- Accu Chart Plus Healthcare Systems, Inc.
- Omnicell, Inc.
- McKesson Co.
- Pearson Medical Technologies LLC
- Baxter International, Inc.
- Talyst LLC
- ScriptPro LLC
- Becton Dickinson & Company
- Kirby Lester
- Cerner Corp.
- TouchPoint Medical
- Deenova SRL
- Parata Systems
- Swisslog Healthcare
- Capsa Healthcare
Key questions answered in the Pharmacy Automation Market are:
- What is Pharmacy Automation?
- What will be the CAGR of global pharmacy automation market?
- What is the nature of competition in Pharmacy Automation industry in developed and developing economies?
- Who are the key players in the Pharmacy Automation Market?
- Who are the market leaders in Pharmacy Automation in Europe?
- Which is the leading pharmacy automation system?
- Who are the market leaders in Pharmacy Automation in USA and Canada?
- Who are the market leaders in Pharmacy Automation in India, China, Japan and South Korea?
- What are the factors affecting growth in the Pharmacy Automation Market?
- Which region will lead the global pharmacy automation market?
- What are the factors for the growth of Asia-Pacific region in Pharmacy Automation Market?
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- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Product, End-use, and Region.
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading Healthcare research firm, has also published the following reports:
Pharmaceutical Drug Delivery Market – Pharmaceutical Drug Delivery Market size is expected to reach USD 3.3 billion by 2029 at a CAGR of 7 percent during the forecast period. Pharmaceutical Drug Delivery Market is expected to be driven by the increased patient shift towards advanced drug delivery systems to benefit market growth.
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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