Published Date : Sep 03, 2018
ALBANY, New York, Sept 3, 2018 - The global pharmacy automation systems market is foretold to face the positive impact of the need to avoid medication prescription errors that are putting pharmacists and healthcare providers under immense pressure to use more effective technologies. A report added by MarketResearchReports.biz provides detailed reports of the market based on its growth factors, restraints, and trends and opportunities. It is titled “Global Pharmacy Automation Systems Market Professional Survey Report 2018.” The advantage of lowered pharmacy costs with the deployment of automated healthcare systems is expected to reflect well on the growth of the market. Reduction in medication errors for patient safety could increase the demand in the market.
The advantage of time efficiency, increasing healthcare expenditure, and rising number of medication doses are projected to create a whole lot of demand for pharmacy automation systems. Increasing drug prices and unfavorable medical reimbursement scenarios in some parts of the world could push the growth of the global pharmacy automation systems market with rising pressure on healthcare providers to curb overall pharmacy costs. However, the expensive cost of installing pharmacy automation systems is predicted to hamper market growth. Nonetheless, the development of cost-effective technologies for small and mid-sized hospitals and pharmacies could create strong opportunities in the market.
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In the aforementioned report, the global pharmacy automation systems market is classified into retail pharmacies, pharmacy benefit management organization and mail order pharmacies, outpatient pharmacies, and inpatient pharmacies as per application. By product, the report studies segments such as automated storage and retrieval systems, automated medication compounding systems, automated table top counters, automated packaging and labeling systems, and automated medication dispensing systems.
According to a geographical reports of the global pharmacy automation systems market, North America could be trailed by Europe in terms of revenue share. After cancer and other diseases, medication prescription dispensing error is said to be a leading cause of death in North America. Medication errors injure around two million and kill close to a 100,000 people in the U.S and about 10,000 people in Canada. In order to improve patient safety and reduce medication errors, pharmacists and healthcare providers are investing strongly in both the countries. Almost 70% of the medication errors are avoidable; however, automated technologies need to be in place.
The Rest of the World may show quick growth in the global pharmacy automation systems market with the MEA at the forefront as governments make vast investments in healthcare infrastructure and healthcare providers become aware of more efficient automated technologies. The nature of the competitive landscape of the global market could be fragmented with several players included in the hunt of gathering a larger share. The market marks the presence of top companies such as Baxter, Cerner, and Capsa Healthcare.
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