(EMAILWIRE.COM, January 15, 2019 ) According to the new market research report “Pharmacy Automation System Market by Product (Medication Dispensing System (Robot, Carousel), Packaging & Labeling System (Unit Dose, Multi Dose), Tabletop Counter, Storage System), End User (Inpatient, Outpatient, Retail Pharmacy) - Global Forecast to 2022", published by MarketsandMarkets™, The global pharmacy automation market is projected to reach USD 5.38 billion by 2022, at a CAGR of 8.2% from 2017 to 2022. The market growth can be attributed to a number of factors such as the growing need to minimize medication errors, rapid decentralization of pharmacies, changing population demographics, and rising labor costs.

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The pharmacy automation systems market was mainly dominated by McKesson Corporation and CareFusion Corporation, collectively holding around half of the global market share in 2013. Besides McKesson and CareFusion, none of the other major players in the market have a share of more than 15%. However, there are a limited number of local players in the market that cater to their respective domestic and regional markets. In the past few years, growing competition from companies like Cerner, Omnicell, InterMetro, Baxter, and Swisslog has challenged the market dominance of the top two players. With a strong distribution network as well as a strong retail pharmacy solutions portfolio, Cerner Corporation is also emerging as one of the leading players in the pharmacy automation systems market.

The leading position of McKesson can mainly be attributed to its well-established position in the pharmaceutical distribution business in the U.S. and Canada as well as its strong portfolio of pharmacy automation systems. In the last few years, the company has launched several products such as EnterpriseRx (a next-generation pharmacy software system), Your Pharmacy Online (a mobile application), ExpressRx Track (a pharmacy automation solution), ScanAbility (Barcode Medication Administration Analytics Tool), and McKesson Ambulatory Pharmacy Solutions, to name a few. These products have helped to reinforce the company’s product portfolio, thereby giving it a competitive advantage over other players in the market.

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In 2016, North America accounted for the largest share of the global pharmacy automation market, largely attributed to the increasing number of drug prescriptions at pharmacies resulting from growth in the aging population.

The major players in the pharmacy automation market are Becton, Dickinson, and Company (U.S.), Omnicell, Inc. (U.S.), Cerner Corporation (U.S.), Capsa Healthcare (U.S.), Parata Systems LLC (U.S), Baxter International, Inc. (U.S.), ScriptPro LLC (U.S.), KUKA AG (Germany), TCGRx Pharmacy Workflow Solutions (U.S.), RxSafe, LLC (U.S.), ARxIUM Inc. (U.S.) and Talyst systems LLC. (U.S.).

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