Pharmacy Automation: Technologies and Global Markets

NEW YORK, Oct. 11, 2012 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

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REPORT HIGHLIGHTS

-The global market for pharmacy automation increased from $2.1 billion in 2006 to $2.3 billion in 2007. It should reach $3.6 billion by 2012, a compound annual growth rate (CAGR) of 9.4%.-By 2012, the inpatient pharmacy automation market is expected to be worth nearly $2.9 billion, a CAGR of 9.8%.-The outpatient pharmacy automation segment will continue to experience moderate growth through 2012, with a CAGR of 7.8% over the next 5 years.

INTRODUCTION

Although pharmacy automation dates back to the 1970s with the introduction of pill counting machines, the pharmacy automation market is anticipated to make generous strides in technology and efficiency through the forecast period outlined in this study. The continually increasing demand for accuracy, safety, industry standards, and competency in the pharmacy environment by regulatory authorities, manufacturers, healthcare professionals, and consumers has forced the growth of this market.

New opportunities in various settings will continue to surface-from small, private, family-owned pharmacies to large hospital and mail-order service facilities, such as Medco Health Solutions, Inc. Many small, private pharmacies are still conducting operations through manual and semi-manual methods, particularly in regions outside the United States. The opportunity to fully automate these pharmacies surfaces more often each year, and with a growing compliance with bar coding standards, this trend will continue to increase at a rapid rate. A large portion of inpatient facilities are already highly automated; however, there are advancements in technology and performance improvements every year, and these pharmacies will continue to seek out the most efficient system to upgrade to. In order to remain competitive in the pharmaceutical dispensing business, organizations will be highly dependent on efficient automation systems. Therefore, upgrades are likely to be an ongoing process.

SCOPE OF STUDY

-The current global market status for pharmacy automation, with trends and forecasts for growth over the next 5 years

-Analysis of the pharmacy automation industry on a worldwide basis, both from market and application perspectives

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Pharmacy Automation: Technologies and Global Markets