The major factors that are expected to be driving the Pharmacy Automation Market are the growing need to minimize medication errors, rapid decentralization of pharmacies, rising geriatric population and rising labor cost.

• Pharmacy automation market is estimated to grow from USD 3.63 billion in 2017 to USD 5.38 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 8.2% during the forecast period.

Driver: Growing need to minimize medication errors

Medication errors and dispensing errors are recognized as leading causes of hospital readmissions across the globe. A medication error can occur due to a variety of factors such as poor order communication between the physician and pharmacist, dangerous storage practices in pharmacies, and confusion arising out of the use of similar labels. Automated systems are considered to be one of the most efficient solutions to minimize these errors.

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By product, the automated medication dispensing systems segment accounted for the largest share of the pharmacy automation market

Based on product, the pharmacy automation market is segmented 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. Automated medication dispensing systems accounted for the largest share of the pharmacy...Read More