Asia-Pacific is expected to exhibit the most potential market with CAGR 9.7% for 2015-2019, fueled by increasing number of technology companies within the region, increasing investment in healthcare, entry of foreign pharmacy and hospital chains and improving economy.
Houston, TX -- (ReleaseWire) -- 09/04/2015 --Written prescriptions were one of the major sources for confusion and medication errors in the past, and this gave rise to need for devising the system where pharmacists, nurses and physicians would be on the same page. The advent and rise of barcoding, RFID and software in healthcare area greatly enhanced the efficiency of all automation systems in healthcare facilities and drastically began reducing errors. Automated medication dispensing systems fill prescriptions and dispense them to the patient or caregiver. Large automated medication dispensing systems can handle over 700-800 prescriptions or more per day. However, comparing the size of most independent pharmacies and stores, the set-up may be installed in order to handle around 300-500 prescriptions each day. These machines are regulated stringently by the healthcare authorities since many devices handle crucial and potentially damaging drugs as well. Demand for automated medication dispensing will continue to grow solidly across regions at a CAGR of 6.2% from 2015 to 2019. The market for automated dispensing systems is fragmented although consolidation through mergers & acquisitions and strategic collaborations continue. Key players in this market segment are Omnicell & MTS, ScriptPro, CareFusion, Talyst, Parata Systems, Cerner, InterMetro Industries (Metro Automated Dispensing), JVM (Korea), Capsa Solutions, Willach Pharmacy Solutions, Mach 4 Pharma Systems, Remidi, Synergy Medical (Synergie Médicale BRG Inc), Tosho, CRETEM Co Ltd, ARxIUM and Noritsu Medical among others.
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Consolidation within the pharmacy automation market continues along with similar trends seen across logistics and intralogistics industry. With over nine notable mergers and acquisitions of key players such as Swisslog, CareFusion, AmerisourceBergen and Kirby Lester, the market is considered to be very profitable in coming years. CareFusion registered solid earnings from its dispensing Systems segment in 2014 and led the market. Omnicell, Becton Dickinson, Capsa Solutions, Aesynt have made the recent headlines with acquisitions across the board. Due to a healthy investment by governments in major markets, centralized pharmacy automation will continue to grow and demand more automation in coming years. Even with price tags of US$ 1.0 million, storage and retrieval devices continue to be installed since they guarantee quick ROI, significant reduction in labor costs and almost error free medication dispensing.