Pharmacy Automation Systems Market - Competitive landscape & Geographical Outlook
Global Pharmacy Automation Systems Market – Overview
Growing incidences of injuries as well as deaths because of the mistakes in the medical prescriptions are putting a constant pressure on the overall healthcare sector. Both the healthcare service providers as well as the pharmacists are looking out for more effective and accurate technologies to prevent such recurring medical mishaps. In addition to this, the medication distribution system is turning more complex each passing day with the growing number of patients, visitors, and their respective safety needs. Advanced technologies such as pharmacy automation systems are now coming up as the most efficient tools to tackle this serious problem. The objective of these tools is to reduce the errors in medical prescriptions and optimize patient safety. Installation of such pharmacy automation systems is thus helping healthcare service providers and pharmacists to cut down their losses and scale up efficiency and productivity.
Global Pharmacy Automation Systems Market – Notable Developments
Some of the leading companies in the global pharmacy automation systems market include names such as Parata System Inc., Kirby Lester, McKesson Corp, and Omnicell Inc. among others. These leading players in the market are concentrating on product development and innovation to build their brand name and generate more revenue.
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Some of the recent notable developments in the global pharmacy automation systems market are given below:
- In 2016, Omnicell announced that the company has launched SureMed software by Omnicell Guided Packing. This software was developed with an objective to improve the accuracy of the pharmacists’ in filling numerous SureMed medication blister cards.
- In 2016, BD announced a launch of a new software for Pyxis ES System. The new product will ensure safety of patient and also ensure the workflow benefits for health systems’ medication management.
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Global Pharmacy Automation Systems Market – Drivers and Restraints
The growth of the pharmacy automation systems market is primarily driven by the fact that there have been initiatives to improve the reimbursement policies and stricter governmental regulation policies. With mandates in place about the dosage, prescription labeling, and packaging among others, the use of pharmacy automated systems is helping to scale up the productivity of the pharmacies.
Another important factor that has been pushing the growth of the global pharmacy automation systems market is increasing pressure on the healthcare service providers to cut down the medication errors. Moreover, there has been a substantial rise in terms of number of patients across the globe who need prescription drugs. This coupled with growing healthcare expenditure has significantly highlighted the importance of using pharmacy automation systems. Naturally, the growth of the market is moving in the right direction.
Global Pharmacy Automation Systems Market – Geographical Outlook
From a geographical point of view, the global pharmacy automation systems market is primarily divided into five main regions viz. North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Of these mentioned segments, the global pharmacy automation systems is currently dominated by the regional segment of North America. A developed healthcare infrastructure coupled with increasing pressure to cut down the medication errors is prompting higher adoption of these pharmacy automation systems. In addition to this, the government too is putting down strict regulations about the distribution prescription medicines. This too is expected to help the development of the pharmacy automation systems market in the North America region.
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On the other hand, the regional segment of Asia Pacific is expected to show a promising growth in the coming years of the forecast period. The region is home to some of the fastest growing economies in the world in China and India. Both the nations are spending heavily on the development and improvement of their domestic healthcare infrastructure. This is expected to give a solid impetus to the development of pharmacy automation systems market in the Asia Pacific region.
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