Global Pharmacy Automation Systems Market to be driven by Rising Investment in Latest Automation Technologies

Published By : 22 Feb 2016 | Published By : QYRESEARCH

Medication prescription error every year claims life of thousands of people around the world. The increasing incidence of injuries and deaths due to errors in medication prescription is increasingly mounting pressure on pharmacists and healthcare providers to deploy advanced technologies. Also the exponentially increasing number of patients’ visits on any regular day is further putting pressure on healthcare professionals to adopt the automation technologies to reduce the occurrence of such errors. 

Deploying Automated Technologies Can Help Reduce Instances of Medication Prescription Errors

Deploying advanced automated technologies and solutions are therefore, emerging as an indispensable way to help reduce medication errors and in turn improve patient safety. Furthermore, installing these latest technologies will also help healthcare providers to reduce pharmacy costs. 

Increasing Healthcare Expenditure Boosts Global Pharmacy Automation Systems Market

Pharmacies and healthcare clinics can leverage automation for functions such as prescription management, compound preparation, tablet counting, inventory management, medication packaging, and dispensing. However, these bodies will be able to completely capitalize on the benefits of these advances only when several technologies are integrated together. Hence, the global market for pharmacy automation is expected to expand in response to the growing pressure for reducing medication cost, increasing healthcare expenditure, and rising demand for time efficiency offered by these technologies. 

Rising Drug Prices and Increasing Investment by Leading Vendors to Give Market Significant Impetus

Furthermore, the demand for these technologies is also likely to increase in response to the rising drug prices and reducing medical reimbursement, which are likely to create situations pressurizing pharmacies to reduce their overall pharmacy costs. Furthermore, the demand for pharmacy automation system will also get accelerated by the implementation of stringent regulations mandating specific standards for packaging, labelling, and drug compounding. However, the high cost associated with deploying these technologies may hamper the growth of the global pharmacy automation systems market to an extent. Nevertheless, as vendors continue to invest on developing cost effective technologies, it will in turn create opportunities for the market for pharmacy automation systems to capitalize on in the near future. 

Some of the leading enterprises operating in the global pharmacy automation systems market are Omnicell Inc, Kirby Lester, AmerisourceBergen Corp, McKesson Corp, and Parata System Inc.

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