Published Date: 9-Mar-2021
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According to a new report Global Pharmacy Automation Devices Market, published by KBV research, The Global Pharmacy Automation Devices Market size is expected to reach $7.9 billion by 2026, rising at a market growth of 12.5% CAGR during the forecast period.
The automated medication computing systems segment would exhibit a prominent growth rate during the forecast period. The high growth of the segment is due to the increasing application of these systems in sterile compounding. Technicians & pharmacies are empowered by automated robotic sterile compounding solutions by providing devices for enhancing dosage precision & making Intravenous (IV) pharmacy compounding safer while decreasing costs & facilitating compliance.
In 2019, the retail pharmacy segment acquired the maximum revenue share of the global market. The installation of these solutions in retail pharmacies is anticipated to witness a surge due to the rising application of these solutions in prescription filling, reducing costs & errors, inventory monitoring, and simplifying operations. For example, RxSafe offers an automated robotic storage & retrieval system that facilitate retail pharmacies to witness speed, space savings, precision, and convenience offered by the blend of prescription, real-time inventory tracking, and workflow optimization solutions.
In 2019, North America emerged as the dominating region. The regional growth is attributed to the various technological developments in medication management in hospitals & pharmacies. Increasing concerns about insufficient inventory management may drive the growth of high-volume dispensing cabinets in the region as it results in the massive cost of holding inventory, which can eventually increase the burden of cost on retailers.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of McKesson Corporation, Baxter International, Inc., Becton, Dickinson and Company, ARxIUM, Inc., Omnicell, Inc., Kuka AG (Swisslog Healthcare), Cerner Corporation, Accu-Chart Plus Healthcare Systems, Inc., Pearson Medical Technologies, LLC, and ScriptPro, LLC.
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