(EMAILWIRE.COM, March 08, 2019 ) The global pharmacy automation market is projected to reach USD 5.38 billion by 2022 from an estimated USD 3.63 billion in 2017, at a CAGR of 8.2%. Factors such as growing need to minimize medication errors, rapid decentralization of pharmacies, changing population demographics, and rising labor costs are driving the growth of the global pharmacy automation market.

Pharmacy automation systems refer to a variety of systems and software designed to increase the productivity of pharmacies and precision of the medication compounding process by reducing human intervention. Automated systems mechanize various procedures in pharmacies, including the storage, packaging, dispensing, pickup, delivery, and distribution of drugs.

The pharmacy automation market has been segmented on the basis of product, into automated medication dispensing systems, automated packaging and labelling systems, automated table top counters, automated medication compounding systems, automated storage and retrieval systems, and other pharmacy automation systems.

Becton, Dickinson and Company’s leading position in the pharmacy automation market is mainly attributed to its broad product portfolio with major focus on pharmacy automation. The company continuously focuses on R&D and has invested around 7% of its revenue in R&D activities. The company also focuses on the inorganic growth strategy of acquisitions to strengthen its product portfolio as well as its market position. By acquiring CareFusion Corporation (U.S.) in March 2015, the company has positioned itself as a leading player in the pharmacy automation market. BD has a strong product portfolio and focuses on launching various new products in the market. For instance, the company launched a software for Pyxis ES System and BD Cato Medication Workflow in 2015 and 2016, respectively.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=71522890

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.

Get More Details @ https://www.marketsandmarkets.com/Market-Reports/pharmacy-automation-systems-market-71522890.html

Some other leading players in the global pharmacy automation market include Cerner Corporation (U.S.), Capsa Healthcare (U.S.) ScriptPro LLC. (U.S.), and Talyst Systems LLC. (U.S.). These companies have well-established sales and distribution networks. They also make significant investments in R&D activities to add innovative technologies and products to their portfolio.