BCC Research reveals in its new report, PHARMACY AUTOMATION: TECHNOLOGIES AND GLOBAL MARKETS, the global pharmacy automation market is expected to grow to nearly $4.9 billion in 2018, with a five-year compound annual growth rate (CAGR) of 8.8%. The outpatient automated services segment is the fastest moving segment with an expected CAGR of 9.5%.
The pharmacy automation market continues to gain momentum after experiencing purchasing holds for equipment from hospitals and other health delivery facilities during 2008 and 2009.
Outpatient pharmacy automation revenues are expected to grow to an estimated $1.3 billion in 2018. This market includes dispensing/storage equipment, packaging and filling equipment, and other equipment such as samples management, counting machines, and vial shredders.
Inpatient pharmacy automation revenues account for the larger share of the market, with sales estimated to reach about $3.6 billion in 2018. This market includes dispensing and storage equipment, packaging equipment, narcotics management equipment, and other products such as bedside bar-code scanning systems, automated medication labeling systems, automated tablet splitters, and compounding systems.
"In order to remain competitive in the pharmaceutical dispensing business, organizations will be highly dependent on efficient automation systems," says BCC Research instrumentation and sensors analyst Melissa Elder. "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. 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."
Both segments will continue to recover from economic conditions felt in key markets such as the United States and moderate-high growth is expected through 2018.
