Pharmacy Automation Devices Market Size, Competitive Analysis Reports 2022-2030 with Top Vendors – Big Apple Buckets
According to a new market research report published by Report Ocean, the Pharmacy Automation Devices Market is anticipated to grow at a CAGR of $$%, during the forecast period. The market is estimated to reach USD 9.45 trillion by 2030.
This detailed market research report by Report Ocean includes in-depth analysis of technological innovations, market trends, supply chain trends, future trends, leading players, and key developments. The report also includes additional information about other factors such as drivers, restraints and challenges faced by this market, along with an overview for each mentioned segment in the study.
The pharmacy automation devices market size is expected to reach USD 9.45 billion by 2027.
The US current-account deficit increased and reached US$ 234.8 billion in Q4 2021. However, the Canadian Dollar exchange (CAD) increased by 29.9% in Q1 22 to reach US$ 294.4 billion, widening the imbalance by US$ 68.6 billion. In the first quarter of 2022, exports of goods and services rose by US$ 27.7 billion, totaling US$ 1.07 trillion. However, the nation’s goods and services deficit decreased to US$ 79.9 billion in June from US$ 87.9 billion in May, which was corrected, a US$ 5.7 billion decrease that indicated some relief. On the other hand, the annual inflation rate in the country hit 8.7%.
The logistics price increased by 34.9% in July 2022, disrupting the supply chain, while electricity prices increased by 15.5%, the highest level since February 2006. Besides that The number of existing US homes sold in July 2022 decreased by 5.95% to 4.85 million (seasonally adjusted annual rate), which was the lowest number since May 2020 and under the market’s forecast of 4.89 million. The home sector sales fell for the sixth month in a row as the mortgage rate reached its highest point at 6.3%. The US economy continues to be heavily impacted by the global energy crisis, causing people to spend less and conserve more.
Report Ocean presents a new report on pharmacy automation devices market size, share, growth, industry trends, and forecast 2027, covering various industry elements and growth trends helpful for predicting the market’s future. Pharmacy Automation Devices Market Report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Pharmacy automation has been flooded with technological innovations to automate the maximum of the workflow system. It includes medication errors, faster prescriptions, and inventory discrepancies, and a decrease in the cost of service.
For instance, in June 2020, Switzerland-based, Swiss log Healthcare introduced “The Open Pharmacy” to transform pharmacy services in the health clubs. It enabled and automated community pharmacies to get adapted to newer trends and patient expectations. Thus, to increase the patient comfort, lessen time and money to service, expected to raise the demand for pharmacy automation devices.
The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the pharmacy automation devices market also experienced a slowdown. Statista estimates that the pharmacy automation devices market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the pharmacy automation devices market generated revenues of US$ 5.4 trillion at a record high.
The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the pharmacy automation devices market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.
However, due to the sudden outbreak of COVID-19 and nation-wide lockdowns, key companies in the market were not able to raise revenue according to the market expectations, this was primarily due to lesser hospital admissions, to get rid of infections from healthcare workers or physicians in the healthcare facilities Omnicell Inc., and Becton witnessed a decline in sales by more than 3% from 2019.
However, this is partially offset by patient’s awareness regarding the importance of pharmacy automation devices in the healthcare sector. For instance, in the United Kingdom and Ireland, Becton witnessed an increase of more than 30% in its ROWA dispensing system, from September 2020.This is likely to drive the market growth for pharmacy automation devices.
Healthcare digitization among end-users is used to better manage costs and improve efficiency across the continuum of medical care to have better patient outcomes and allow more focus towards patient care. For instance, in March 2020, Swiss Healthcare introduced the “Meds to Beds” program to provide outpatient services to the patient in partnership with Pipeline Rx and Savioke.
The program also included robotic delivery of the prescribed medication to expand their pharma capability. This, in turn, is projected to drive the adoption of such tasks, by limiting human interventions, while maintaining the norms of social distancing in this COVID era, which is is likely to drive demand for pharmacy automation devices.
Major Players: Market participants of the pharmacy automation devices industry include Amerisource Bergen Corporation, Omnicell, Inc., McKesson Corporation, Deenova SRL, Accu Chart Plus Healthcare Systems, Inc., Pearson Medical Technologies, LLC, Talyst, LLC, Script Pro, LLC, Medacist Solutions Group, LLC, Kirby Lester, Cerner Corporation , ARxIUM, CareFusion (Becton Dickinson), Parata Systems, LLC, Swiss log Healthcare, Touch Point Medical, and Yuyama Co. Ltd.
Major highlights of the Table of Contents of the study:
Market Overview & Summary
Market Share Analysis
Why to purchase this report
The report would provide an in-depth analysis on the current and future market trends
Analysis on global, regional and country level markets
Key strategic initiatives taken by major players operating in the market along with ranking analysis for the key players
Analysis based on historical information along with the current trends to estimate the future of the market
Analysis of the impact of constantly changing global market scenarios
What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level. Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
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