North America Pharmacy Automation Market Growth, Size, Analysis, Outlook by 2021 – Trends, Opportunities and Forecast to 2028
North America Pharmacy Automation Market research report is a comprehensive analysis on the study of industry. Market research included in this report helps the management of a firm in planning by providing accurate and up- to-date information about the consumer’s demands, their changing tastes, attitudes, preferences, and buying intentions etc. This business report aids to establish correlative relationship between the product brand and consumers’ needs and preferences. Further, manufacturer can adjust production according to the conditions of demand which are analysed here. North America Pharmacy Automation Market report also supports to secure economies in the distribution of products and find out the best way of approaching the potential.
The best in class North America Pharmacy Automation Market report makes to focus on the more important aspects of the market like what the market recent trends are. It provides guidelines about planning of advertising and sales promotion efforts. The market study provides details of drivers and restraints for the North America Pharmacy Automation Market with the help of SWOT analysis, along with the impact they have on the demand over the forecast period. Additionally, the universal North America Pharmacy Automation marketing report helps the manufacturer in finding out the effectiveness of the existing channels of distribution, advertising programmes or media, selling methods and the best way of distributing the goods to the eventual consumers.
Pharmacy automation market has shown an exceptional penetration in North America. Growing inclination towards offering 24 hours service at facility is augmenting the market growth. In countries such as the U.S., Mexico and Canada introduction of new solution such as kiosk, ATMs and others is creating huge opportunity for the Pharmacy automation market.
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The pharmacy automation market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.8% in the forecast period of 2020 to 2027 and is expected to reach USD 4,512.97 million by 2027 from USD 2,510.29 million in 2019. Introduction of advanced robotics, growing incidence of chronic diseases especially cancer, rise in awareness for medical errors and paradigm shift towards automation are the major drivers which propelled the demand of the market in the forecast period.
Major Market Key Competitors:
- Omnicell, Inc.
- Innovation Associates
- RxMedic Systems, Inc.
- RxSafe, LLC.
- ARxIUM
- ScriptPro LLC
- Capsa Healthcare
- BD
- Cerner Corporation
- Parata Systems, LLC
- Swisslog Healthcare (A part of the KUKA AG)
- Pocket Pills
- PerceptiMed, Inc.
- Asteres Inc.
- MedAvail Technologies, Inc.
- Fullscript
- McKesson Corporation
- Baxter
- AmerisourceBergen Corporation
Trends Impacting the North America Pharmacy Automation Market
Now the question is which are the other countries that Omnicell, Inc., BD and AmerisourceBergen Corporation are targeting? Data Bridge market research has forecast a large growth in the U.S. pharmacy automation market and the market leaders are targeting Canada to be their next revenue pockets for 2020.
The pharmacy automation market is becoming more competitive every year with companies such as Omnicell, Inc., BD and AmerisourceBergen Corporation as they are the market leaders for pharmacy automation. The Research for Markets new reports highlights the major growth factors and opportunities in the North America pharmacy automation market.
Scope of the North America Pharmacy Automation Market
North America pharmacy automation market is segmented on the basis of countries into the U.S., Canada, and Mexico.
Country based analysis of pharmacy automation market is further analyzed based on further segmentation. On the basis of product, the North America pharmacy automation market is segmented into systems, software, and services. On the basis of pharmacy type, the North America pharmacy automation market is segmented into independent, chain, and federal. On the basis of pharmacy size, the North America pharmacy automation market is segmented into small size pharmacy, medium size pharmacy, and large size pharmacy. On the basis of application, the North America pharmacy automation market is segmented into drug dispensing and packaging, drug storage, and inventory management. On the basis of end user, North America pharmacy automation market is segmented into inpatient pharmacies, outpatient pharmacies, retail pharmacies, online pharmacies, pharmacy benefit management organizations, central fill/mail order pharmacies, and others. On the basis of the distribution channel, the North America pharmacy automation market is segmented into direct tender and third party distributor.
Pharmacy Automation Market Scope and Market Size
The pharmacy automation market is segmented into six notable segments which are based on product, pharmacy type, pharmacy size, application, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the pharmacy automation market is segmented into systems, software, and services. In 2020, systems segment is expected to dominate in the pharmacy automation market as it increases the speed of patient care for an overburdened healthcare ecosystem.
- On the basis of pharmacy type, the pharmacy automation market is segmented into independent, chain and federal. In 2020, independent segment is expected to dominate in the pharmacy automation market as it primarily includes the pharmacies located in large hospitals in a centralized manner. Automated pharmacies can enhance pharmacy workflow and efficiency of centralized pharmacies and hence creates greater convenience for hospitals to reallocate resources to other tasks.
- On the basis of pharmacy size, the pharmacy automation market is segmented into large size pharmacy, medium size pharmacy and small size pharmacy. In 2020, large size pharmacy segment is expected to dominate in the pharmacy automation market as they are usually located in large hospitals in a centralized system with capacity to procure expensive pharmacy automation systems. Large pharmacies primarily need pharmacy automation to reduce human errors and hence adoption of robotic systems is higher.
- On the basis of application, the pharmacy automation market is segmented into drug dispensing and packaging, drug storage, inventory management. In 2020, drug dispensing and packaging segment is expected to dominate in the pharmacy automation market due to the increasing demand for patient safety and misuse of drugs. Through pharmacy automation, medications are locked inside the robot and access is limited to specific staff with positive identification.
- On the basis of end user, the pharmacy automation market is segmented into inpatient pharmacies, outpatient pharmacies, retail pharmacies, online pharmacies, central fill/mail order pharmacies, pharmacy benefit management organizations and others. In 2020, inpatient pharmacies segment is expected to dominate in the pharmacy automation market due to increasing need for hospitals to provide value-based care. Pharmacy automation reduces typically fill times and wait times. Hence, hospitals can improve service levels and customer satisfaction.
- On the basis of distribution channel, the pharmacy automation market is segmented into direct tender and third party distributor. In 2020, direct tender segment is expected to dominate in the pharmacy automation market as it is the primary source of procurement in hospitals and inpatient pharmacies. The presence of large number of companies in the region also makes it easier to avail direct tender services which are more beneficial.
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Pharmacy Automation Market Country Level Analysis
The pharmacy automation market is analysed and market size information is provided by country, product, pharmacy type, pharmacy size, application, end user and distribution channel as referenced above.
The countries covered in the North America pharmacy automation market report are the U.S., Canada and Mexico.
North America is expected to dominate the market as one of the earliest adopters of pharmacy automation in last few years, due to increasing need to reduce medication errors and presence of several domestic and global leaders in the region providing customized high volume pharmacy automation solutions. The U.S is expected to dominate in the market and leading the growth in North America as continuous increase in adoption of pharmacy automation.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
LIST OF FIGURES
FIGURE 1 NORTH AMERICA PHARMACY AUTOMATION MARKET: SEGMENTATION
FIGURE 2 NORTH AMERICA PHARMACY AUTOMATION MARKET: DATA TRIANGULATION
FIGURE 3 NORTH AMERICA PHARMACY AUTOMATION MARKET: DROC ANALYSIS
FIGURE 4 NORTH AMERICA PHARMACY AUTOMATION MARKET: NORTH AMERICA VS REGIONAL MARKET ANALYSIS
FIGURE 5 NORTH AMERICA PHARMACY AUTOMATION MARKET: COMPANY RESEARCH ANALYSIS
FIGURE 6 NORTH AMERICA PHARMACY AUTOMATION MARKET: INTERVIEW DEMOGRAPHICS
FIGURE 7 NORTH AMERICA PHARMACY AUTOMATION MARKET: MARKET APPLICATION COVERAGE GRID
FIGURE 8 NORTH AMERICA PHARMACY AUTOMATION MARKET: DBMR MARKET POSITION GRID
FIGURE 9 NORTH AMERICA PHARMACY AUTOMATION MARKET: VENDOR SHARE ANALYSIS
FIGURE 10 NORTH AMERICA PHARMACY AUTOMATION MARKET: SEGMENTATION
FIGURE 11 GROWING NEED TO MINIMIZE MEDICATION ERRORS IS EXPECTED TO DRIVE THE NORTH AMERICA PHARMACY AUTOMATION MARKET IN THE FORECAST PERIOD OF 2020 TO 2027
FIGURE 12 SYSTEMS SEGMENT IS EXPECTED TO ACCOUNT FOR THE LARGEST SHARE OF THE NORTH AMERICA PHARMACY AUTOMATION MARKET IN 2020 AND 2027
FIGURE 13 DRIVERS, RESTRAINTS, OPPORTUNITIES AND CHALLENGES OF NORTH AMERICA PHARMACY AUTOMATION MARKET
FIGURE 14 COMPARISON OF FIRST QUARTER REVENUE OF THE YEAR 2019 AND 2020
FIGURE 15 NORTH AMERICA PHARMACY AUTOMATION MARKET: BY PRODUCT, 2019
FIGURE 16 NORTH AMERICA PHARMACY AUTOMATION MARKET: BY PRODUCT, 2019-2027 (USD MILLION)
FIGURE 17 NORTH AMERICA PHARMACY AUTOMATION MARKET: BY PRODUCT, CAGR (2020-2027)
FIGURE 18 NORTH AMERICA PHARMACY AUTOMATION MARKET: BY PRODUCT, LIFELINE CURVE
FIGURE 19 NORTH AMERICA PHARMACY AUTOMATION MARKET: BY PHARMACY TYPE, 2019
FIGURE 20 NORTH AMERICA PHARMACY AUTOMATION MARKET: BY PHARMACY TYPE, 2019-2027 (USD MILLION)
FIGURE 21 NORTH AMERICA PHARMACY AUTOMATION MARKET: BY PHARMACY TYPE, CAGR (2020-2027)
FIGURE 22 NORTH AMERICA PHARMACY AUTOMATION MARKET: BY PHARMACY TYPE, LIFELINE CURVE
FIGURE 23 NORTH AMERICA PHARMACY AUTOMATION MARKET: BY PHARMACY SIZE, 2019
FIGURE 24 NORTH AMERICA PHARMACY AUTOMATION MARKET: BY PHARMACY SIZE, 2019-2027 (USD MILLION)
FIGURE 25 NORTH AMERICA PHARMACY AUTOMATION MARKET: BY PHARMACY SIZE, CAGR (2020-2027)
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By Region
North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
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