SOURCE: MarketResearch.com

MarketResearch.com

November 23, 2010 08:08 ET

Pharmacy Automation Market Expected to Grow 4.6% Annually Through 2015

ROCKVILLE, MD--(Marketwire - November 23, 2010) -  MarketResearch.com has announced the addition of BCC Research's new report "Pharmacy Automation: Technologies and Global Markets" to their collection of Pharmaceuticals market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2817083

Although pharmacy automation dates back to the 1970s with the introduction of pill-counting machines, the pharmacy automation market continues to advance and deliver impressive technology and improve efficiency. The 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.

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.

The total worldwide market for pharmacy automation will be worth $2.2 billion by the end of 2010. The market is displaying a recovery from purchasing holds for equipment experienced by many health facilities, and is expected to grow at a 4.6% compound annual growth rate (CAGR) to reach $2.7 billion in 2015.

Inpatient pharmacy automation revenues account for the larger share of the market, with sales expected to reach $1.7 billion by the end of 2010 and increase by a 5.2% compound annual growth rate (CAGR) to reach $2.2 billion by 2015.

Outpatient pharmacy automation revenues are estimated at $456 million for 2010. By 2015, the outpatient pharmacy automation market is expected to reach $510 million in revenues after increasing at a compound annual growth rate (CAGR) of 2.3%.

This report provides a comprehensive analysis of the pharmacy automation market's current operations and equipment, current trends, and detailed patent analysis. The study includes information regarding statistics for medication errors, costs associated with pharmacy activities, the pharmacist shortage, and many other issues affecting the pharmacy automation market. Major pharmacy automation product segments include in-depth market and competitive analyses.

For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2817083

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