Global Pharmacy Automation Equipment Market to Register Notable Growth Given the Decentralization of Pharmacies
Inkwood Research anticipates that the Global Pharmacy Automation Equipment Market is evaluated to project a CAGR of 7.93% in terms of revenue during the forecasting years of 2021-2028.
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Automation Equipment Market Forecast 2021-2028.”
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Pharmacy automation is characterized as
decentralized or centralized automated dispensing, labeling, packing, and other
systems, that help minimize dispensing errors. Moreover, it also plays a vital
role in terms of improving the workflow efficiency of hospital nursing staff as
well as pharmacies.
Decentralization
of Pharmacies to Augment Market Growth
Decentralized pharmacy services are
considered in order to refer to a practice model where a pharmacist located on
the ward is primarily responsible for distribution and clinical services,
including possibly order entry and order validation. As a result, such
decentralized pharmacy services are the most favored method of pharmacy service
delivery across hospitals, owing to the advantages offered. These entail increased
patient safety, cost-effectiveness, improved efficiency in patient care, and higher
job satisfaction for healthcare members and pharmacists, as well.
In a decentralized approach, medications
are kept in medication rooms and will only dispense following the orders of the
doctor. The model also provides multiple tower dispensers, in addition to
medication rooms harboring several dispensers.
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Hospital
Pharmacy is the Leading End-User
Typically, separate departments manage all
hospital-related purchasing, such as medical supplies, pharmaceuticals,
equipment, and others. The pharmacy department is regulated by numerous people
in terms of pharmaceutical procurement, with a designated committee assisting
with the same. Furthermore, hospital pharmacies are also expanding with an
elevated preference for pharmaceutical companies to ensure the availability of
necessitated medications at the earliest. Since the frequency of patients in
the out-patient department is relatively high during the day, these services
are highly important.
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North
America Captured the Highest Market Share in 2020
The market growth in North America is
fueled by numerous factors like increasing strategic activities by the
government, rising public health awareness, the presence of leading players,
and the growing adoption of pharmacy automation equipment in the United States.
Moreover, the increasing awareness among pharmacies concerning automated
systems, the rising geriatric population, and the prevalence of chronic
diseases is set to provide the regional market with lucrative growth prospects.
On the other hand, the market in North
America may face significant challenges associated with automated dispensing
systems, such as the rise in medication errors.
Participants within the global pharmacy
automation equipment market compete severely on the basis of consumer acquisition
as well as technical grounds, combined with the increasing consolidation across
pharmacy chains. However, the lack of interoperability among the offerings of
diversified manufacturers leads to decreased ability to bring in consumers from
well-established brands.
The top players operating in the market are
Becton, Dickinson and Company (BD), Baxter International Inc, Pearson Medical
Technologies, etc.
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energy, with an objective comprehension that acknowledges the business
environments. Our geographical analysis comprises North & South America,
CEE, CIS, Middle East, Europe, Asia, and Africa.
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