Pune, Maharashtra -- (SBWIRE) -- 07/20/2023 -- The Pharmacy Automation Market study with 65+ market data Tables, Pie charts & Figures is now released by HTF MI. The research assessment of the Market is designed to analyze futuristic trends, growth factors, industry opinions, and industry-validated market facts to forecast till 2029. The market Study is segmented by key a region that is accelerating the marketization. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. Some of the players studied are ARxIUM (United States), Omnicell (United States), Cerner Corporation (United States), Capsa Healthcare (United States), ScriptPro LLC (United States), RxSafe, LLC (United States), MedAvail Technologies (Canada), Asteres (United States), InterLink AI (United States), BD (Becton, Dickinson and Company) (United States).
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According to HTF Market Intelligence, the Global Pharmacy Automation market to witness a CAGR of 8.92% during forecast period of 2023-2029. The market is segmented by Application (Acute-Care, Long-Term Care) by Type (Automated Medication Dispensing Systems, Pharmacy Robotic Systems, Pharmacy Information Systems, Automated Packaging and Labeling Systems, Medication Inventory Management Systems, Automated Prescription Verification Systems) by Product Type (Systems, Software, Services) by Pharmacy Type (Independent, Chain, Federal) by Pharmacy Size (Large Size Pharmacy, Medium Size Pharmacy, Small Size Pharmacy) by End User (Inpatient Pharmacies, Outpatient Pharmacies, Retail Pharmacies, Online Pharmacies, Central Fill/Mail Order Pharmacies, Others) and by Geography (North America, South America, Europe, Asia Pacific, MEA).
The Pharmacy Automation market size is estimated to increase by USD "According to HTF Market Intelligence, the Global Pharmacy Automation market is expected to see a growth of 8.93% and may reach a market size of USD9,748.19 Million by 2029, currently valued at USD6,353.74 Million." at a CAGR of 8.92% from 2023 to 2029. The report includes historic market data from 2019 to 2023E. Currently, market value is pegged at USD "According to HTF Market Intelligence, the Global Pharmacy Automation market is expected to see a growth of 8.93% and may reach a market size of USD9,748.19 Million by 2029, currently valued at USD6,353.74 Million."
Definition:
Pharmacy automation refers to automation that involves a mechanical process for handling and distributing medication. This reduces filling error, fill more prescription, and increases the focus on patient safety and staff productivity. Owing to the growing need to reduce medication error, the advantage of the pharmacy automation system and developed features of pharmacy automation is expected to drive the market in the forecasted period.
Market Trends:
- Upsurging Demand and Consumption have Led to Continues Enhancements in the Industry
Market Drivers:
- Growing Need to Minimize Medication Errors
- Rapid Decentralization of Pharmacies
- Rising Geriatric Population
- Rising Labor Costs
Market Opportunities:
- Increasing Awareness Among Pharmacists
- Emerging Markets
- Healthcare Cost-reduction Measures
Pharmacy Automation Market Competitive Analysis:
Know your current market situation! Not just new products but ongoing products are also essential to analyze due to ever-changing market dynamics. The study allows marketers to understand consumer trends and segment analysis where they can face a rapid market share drop. Figure out who really the competition is in the marketplace, get to know market share analysis, market position, % Market Share, and segmented revenue.
Players Included in Research Coverage: ARxIUM (United States), Omnicell Inc. (United States), Cerner Corporation (United States), Capsa Healthcare (United States), ScriptPro LLC (United States), RxSafe, LLC (United States), MedAvail Technologies, Inc. (Canada), Asteres Inc. (United States), InterLink AI, Inc. (United States), BD (Becton, Dickinson and Company) (United States)
Additionally, Past Pharmacy Automation Market data breakdown, Market Entropy to understand development activity and Patent Analysis*, Competitors Swot Analysis, Product Specifications, and Peer Group Analysis including financial metrics are covered.
Segmentation and Targeting:
Essential demographic, geographic, psychographic, and behavioral information about business segments in the Pharmacy Automation market is targeted to aid in determining the features the company should encompass in order to fit into the business's requirements. For the Consumer-based market - the study is also classified with Market Maker information in order to understand better who the clients are, their buying behavior, and patterns.
Pharmacy AutomationProduct Types In-Depth: Automated Medication Dispensing Systems, Pharmacy Robotic Systems, Pharmacy Information Systems, Automated Packaging and Labeling Systems, Medication Inventory Management Systems, Automated Prescription Verification Systems
Pharmacy Automation Major Applications/End users: Acute-Care, Long-Term Care
Pharmacy Automation Major Geographical First Level Segmentation:
- APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (U.S., Canada, and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, UAE, South Africa)
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Research Objectives:
- Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
- To share comprehensive information about the key factors influencing the growth of the market (opportunities, drivers, growth potential, industry-specific challenges and risks).
- To analyze the with respect to individual future prospects, growth trends and their involvement to the total market.
- To analyze reasonable developments such as agreements, expansions new product launches, and acquisitions in the market.
- To deliberately profile the key players and systematically examine their growth strategies.
FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
- Political (Political policy and stability as well as trade, fiscal, and taxation policies)
- Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
- Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
- Technological (Changes in digital or mobile technology, automation, research, and development)
- Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
- Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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