The new robotic pharmacy prescription dispensing systems market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Robotic Pharmacy Prescription Dispensing Systems Market 2020-2024 (Graphic: Business Wire)
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“One of the primary growth drivers for this market is the need for reductions in medication errors,” says a senior analyst for the industrials industry at Technavio. The vendors should focus on growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover Technavio expects the robotic pharmacy prescription dispensing systems market size to grow by USD 1.13 billion during the period 2020-2024.
Robotic Pharmacy Prescription Dispensing Systems Market Segment Highlights for 2020
- The robotic pharmacy prescription dispensing systems market is expected to post a year-over-year growth rate of 5.17%.
- Based on the end-user, the hospital pharmacies saw maximum growth in 2019. Factors such as the need for reductions in medication errors are driving the market.
- The growth of the segment will be significant during the forecast period.
Regional Analysis
- 43% of the growth will originate from the North America region.
- The US is one of the key markets for robotic pharmacy prescription dispensing systems in North America. This report provides an accurate prediction of the contribution of all segments to the growth of the robotic pharmacy prescription dispensing systems market size.
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Notes:
- The robotic pharmacy prescription dispensing systems market size is expected to accelerate at a CAGR of almost 8% during the forecast period.
- The robotic pharmacy prescription dispensing systems market is segmented by end-user (Hospital pharmacies and Retail pharmacies) and geography (North America, Europe, APAC, MEA, and South America).
- The market is concentrated due to the presence of a few established vendors holding significant market share.
- The research report offers information on several market vendors, including AMADA HOLDINGS Co. Ltd., ARxIUM Inc., Becton, Dickinson and Co., Capsa Healthcare LLC, Cerner Corp., Gebr. Willach GmbH, KUKA AG, Omnicell Inc., Parata Systems LLC, and ScriptPro LLC
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