Rising Investment in Pharmacy Automation Systems in Developed Regions to Drive Market to US$7.8 bn by 2018

The need for advanced automation systems in the field of medicine and consistent pressure on healthcare providers and pharmacists to deploy more effective technologies is pushing the growth prospects of the pharmacy automation systems market across the globe, states Transparency Market Research (TMR) in its new market study.Rising awareness regarding the benefits of pharmacy automation systems is the primary driving force of the pharmacy automation systems market, especially across developed regions. Another factor that is expected to propel the market is the pressure on healthcare providers regarding the need for reducing medical costs. This report provides detailed analysis of many such growth factors affecting the overall market in several ways. 

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Through regional analysis, the report concludes that most of the developing regions are not willing to accept pharmacy automation technology in their medical environments. This limitation is due to a common stance among governments and consumers in emerging regions in opposition to automation technologies, due to the easy availability of a cheaper workforce. The high cost of pharmacy automation devices and their installation in medical and clinical settings is predicted to be another limiting factor for the market in developing regions. 

However, developed regions such as North America and Europe, and developed countries in other regions such as the Middle East, and Rest of the World (ROW) are some of the fastest growing regional segments in this market. Demand for pharmacy automation systems from these regions is expected to increase tremendously with rising investment in each region’s healthcare infrastructure and growing public awareness. The fusion of advanced automation technology with conventional pharmacy systems has reduced medication costs, medication errors, and delivery time, increasing the overall control over the pharmacy inventory. Recent advancements in automated technologies and related solutions are emerging as the most effective tools to improve patient safety and reduce medication errors. Increasing installations of automated systems help healthcare providers and pharmacists lower pharmacy costs, due to the higher efficiency brought about by the automated systems. 
 
The pharmacy automation systems industry is highly fragmented and competition varies from segment to segment. The report segments the global pharmacy automation market based on key end users, major regional markets, and by technology. Some of the typical systems and processes automated in the market and covered in this study report are automated packaging and labeling, automated dispensing systems, storage and retrieval systems, table-top counters, and automated compounding systems.   Of all, the market segment of automated medication dispensing systems held around 48% of the overall market in 2011, becoming the largest among all segments studied in the report. The revenue generated by this segment was US$2.3 bn in 2011, with expectations to reach US$3.6 bn by 2018, showing a CAGR of 6.7% between 2012 and 2018.

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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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