The Pharmacy Automation Devices
Market is anticipated to expand at a CAGR
nearly 7.4% during the forecast period (2014 to 2020). Revenues may surpass
USD 8 billion by 2020. Mechanical
processes that are used in the handling and distribution of medications are
known as pharmacy automation. Pharmacies employ automation in order to enhance
cash flows and bring down medication inventories. Devices that facilitate these
tasks are known as pharmacy automation devices. High incidence of medical error
deaths is one of the key drivers of this industry.
Computerized
physician order entry, EHR (electronic health record), and clinical decision
support system are some of the commonly used devices. These help monitor
patients on a regular basis so that their health conditions are better
understood. High investments in research & development and growing
popularity of medical automation may augment industry growth over the forecast
period. Other market drivers are need for minimal medical errors, greater
consciousness about advanced pharmacy, and high population growth. Furthermore,
demand for minimally invasive surgical procedures with integrated medical
automation could propel the industry in the forthcoming years.
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Applications,
end-use, and regions are the three parameters based on which the global
pharmacy automation devices market is categorized. Based on applications, the
segments are automated medication dispensing systems, automated medication
& compounding systems, automated storage & retrieval systems, table top
tablet counters, and automated packaging & labeling systems. Packaging
& labeling instruments mainly include deblistering machines, sealers,
printing solutions, and fillers & sealers.
Automated
medication dispensing systems enable computer controlled storage, tracking,
dispensation, and the efficient recording of medical works. This segment held
the highest market share in 2013. Unlike small sized hospitals that face
budgetary constraints, highly established & large hospitals mainly adopt
automated medication dispensing systems. Dispensing cabinets help healthcare
practitioners to provide medications in a systematic manner and keep a record
of the same in the overall system.
Retail
pharmacy and hospital pharmacy are the two main end-users in the overall
industry. Owing to robust investments, the hospital pharmacy segment may
witness remarkable growth till 2020. It is sub-segmented into central pharmacy
automation solutions, pharmacy robots, barcode medication dispensing, and
point-of-care automation solutions among others.
Geographically,
the worldwide pharmacy automation devices industry is divided into Asia
Pacific, North America, Europe, and Rest of the World. In revenue terms, North
America dominated the overall industry in 2013. Regional drivers are
technological developments, the need for minimal medical errors, and a rapidly
growing aging population. Asia Pacific is projected to be the fastest growing
region in the forecast period. Factors that could positively impact the region
are high income levels and greater awareness about the benefits of medical
automation.
Prominent
players in the global Pharmacy Automation Devices Market are Innovation
PharmaAssist Robotics, Pyxis Pharmacy Automation Systems, McKesson Corporation,
CareFusion Corporation, Accu Chart Healthcare, and Swisslog Holding Ltd. TCGRx,
a Wisconsin based company dealing in pharmacy automation declared the
development of PillBot™ in November 2016. PillBot™ is a pharmacy automation
device that enables the filling of multi-dose and unit-dose cards in addition
to pouch packaging. It can efficiently package medicines in blister formats as
well as in pouch formats. The product will soon be launched this year.
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