Pharmacy Automation Market Trend, Competitive Growth, Overview and Forecast to 2022 | Cerner Corporation, Capsa Healthcare, ScriptPro LLC

According to the new market research report "Pharmacy Automation 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™, marketsandMarkets forecasts the 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.

 

Browse in-depth TOC on “Pharmacy Automation Market"181 - Table54 – Figures218 – Pages

 

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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 automation market in 2016.

 

By end user, the retail pharmacies segment to record the highest CAGR during the forecast period

On the basis of end users the market is classified into inpatient pharmacies, outpatient pharmacies, pharmacy benefit management organization and mail order pharmacies, and retail pharmacies. Retail pharmacies is the fastest growing end user segment in the pharmacy automation market 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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The geographical regions mapped in the report are:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
   

North America to account for the largest market size during the forecast period :

 

North America is expected to hold the largest market size in the pharmacy automation market during the forecast period, followed by the European region. The large share of the N+0orth American pharmacy automation market can largely be attributed to the increasing number of drug prescriptions at resulting from growth in the aging population.

 

Some key players mentioned in the research report 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.).

Analytical Laboratory Services Market | Government Initiatives to Strengthen Analytical Testing Capabilities

The overall market, by public health organization is positively impacted by factors such as the growing expenditure on drugs and medical devices by public health organizations, government initiatives to strengthen analytical testing capabilities, increasing number of drug approvals & clinical trials, and rising demand for specialized analytical testing services.

• The global analytical laboratory services market, by public health organization is projected to reach USD 333.8 Million by 2021 from USD 202.8 Million in 2016, at a CAGR of around 10.5% during the forecast period.

What Drives the Market?

1. Growing Expenditure on Drugs and Medical Devices By Public Organizations
2. Government Initiatives to Strengthen Analytical Testing Capabilities
3. Increasing Number of Drug Approvals and Clinical Trials
4. Rising Demand for Specialized Analytical Testing Services

The key trends for increase in market, by public health organization are the growing expenditure on drugs and medical devices by public health organizations, steps by the government to build up strong analytical testing abilities, increasing number of drug approvals and clinical trials, and rising demand for specialized analytical testing services.

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On the basis of type of service, the spend assessment is segmented into eight segments, namely, bioanalytical testing, batch release testing, stability testing, raw material testing, physical characterization, method validation, microbial testing, and environmental monitoring. In 2015, the bioanalytical testing segment accounted for the largest share of the analytical laboratory services market, by public health organization. This growth can be attributed to factors such as the usage and development of a large number of macromolecules and Biosimilars for various therapeutic areas and the growing biopharmaceutical industry across the globe.

The geographical regions mapped in the report are:
1. North America
2. Europe
3. Asia-Pacific
4. Rest of the World (RoW)

Analytical Laboratory Services Market, by public health organization is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2015, North America commanded the largest share, followed by Europe, Asia-Pacific, and the RoW. The major share of this region can be attributed to the high expenditure on quality testing, strong regulatory scenario, increasing number of clinical trials, and the well-established federal testing laboratories in the region.

Some key players mentioned in the research report are:

Food and Drug Administration (U.S.), European Medicines Agency (U.K.), Federal Institute for Drugs and Medical Devices (Germany), Agence française de sécurité sanitaire des produits de santé (France), Agenzia Italiana del Farmaco (Italy), the Spanish Medicines and Health Products Agency (Spain), Central Drugs Standard Control Organization (India), China Food and Drug Administration, and Pharmaceuticals and Medical Devices Agency (Japan).

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Pharmacy Automation Market Trend, Competitive Growth, Overview and Forecast to 2022 | Cerner Corporation, Capsa Healthcare, ScriptPro LLC

According to the new market research report "Pharmacy Automation 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™, marketsandMarkets forecasts the 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.

Browse in-depth TOC on “Pharmacy Automation Market"
181 - Table
54 – Figures
218 – Pages

Get a sample PDF copy of the Report @: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=71522890

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 automation market in 2016.

By end user, the retail pharmacies segment to record the highest CAGR during the forecast period
On the basis of end users the market is classified into inpatient pharmacies, outpatient pharmacies, pharmacy benefit management organization and mail order pharmacies, and retail pharmacies. Retail pharmacies is the fastest growing end user segment in the pharmacy automation market 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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The geographical regions mapped in the report are:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

North America to account for the largest market size during the forecast period :
North America is expected to hold the largest market size in the pharmacy automation market during the forecast period, followed by the European region. The large share of the N+0orth American pharmacy automation market can largely be attributed to the increasing number of drug prescriptions at resulting from growth in the aging population.

Some key players mentioned in the research report 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.).

Infectious Disease Diagnostics Market Worth $19.35 Billion by 2022 | North America Market is Expected to Grow at the Fastest Rate

Growth in Infectious Disease Diagnostics Market is primarily driven by the increasing global prevalence of infectious diseases, shift in focus from centralized laboratories to decentralized point-of-care testing, and growth in funding for research on infectious disease diagnostics.

What the Market Looks Like?

• The global infectious disease diagnostics market was valued at USD 13.93 Billion in 2016 and projected to   reach $19.35 Billion in 2022, at a CAGR of 5.6%.

North America accounted for the largest share of the global infectious disease diagnostics market. The large share of this region is mainly attributed to the presence of a highly developed healthcare system, increasing prevalence of infectious diseases, the presence of a large number of leading national clinical laboratories, and easy accessibility to technologically advanced instruments in the region.
 

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On the basis of disease type, the infectious disease diagnostics (IDD) market is segmented into a wide range of diseases. Hospital acquired infections (HAI) segment to record the highest CAGR during the forecast period. Growth in HAI segment can be attributed to the rising burden of MRSA infections, the increasing number of new products launched in the market, and increasing adoption of technologically advanced HAI diagnostic tests such as BD MAX Cdiff assay, Xpert MRSA NxG, and ARIES C. difficile Assay that are based on PCR technology

What Drives the Market?

The growth of the global market for infectious disease diagnostics market is primarily influenced by the following factors:

1. Increasing Global Prevalence of Infectious Diseases
2. Shift in Focus From Centralized Laboratories to Decentralized Point-Of-Care Testing
3. Growth in Funding for Research on Infectious Disease Diagnostics

Factors such as advancements in sequencing technologies, increasing awareness and acceptance of personalized medicine (in which this technology has significant applications), and increasing application of molecular diagnostic technologies in pharmacogenetics and point-of-care testing are expected to boost the growth of this technology in the future.

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The geographical regions mapped in the report are:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

North America accounted for the largest share of the global infectious disease diagnostics market. The large share of this region is mainly attributed to the presence of a highly developed healthcare system, increasing prevalence of infectious diseases, the presence of a large number of leading national clinical laboratories, and easy accessibility to technologically advanced instruments in the region.

Some key players mentioned in the research report are:

Abbott Laboratories, Becton, Dickinson and Company, Biomérieux SA, Bio-Rad Laboratories, Danaher Corporation, Diasorin, Luminex, Meridian Bioscience, Quidel, Roche Diagnostics, Siemens AG, Thermo Fisher Scientific

Bioinformatics market COVID – 19 Updated Analysis By Top Key Players – Thermo Fisher Scientific, Eurofins Scientific, Illumina, Perkinelmer

 Bioinformatics is the application of computer technology for the management and analysis of biological data. It includes collection, storage, retrieval, manipulation, and modelling of data for analysis, visualization, or prediction through algorithms and software. The global bioinformatics market is expected to account for USD 7,063.7 billion in 2018. It is expected to reach USD 13,901.5 billion by 2023, at a CAGR of 14.5% during the forecast period.

Bioinformatics Market by Product & Service (Knowledge Management Tools, Data Analysis Platforms (Structural & Functional), Services), Applications (Genomics, Proteomics & Metabolomics), & Sectors (Medical, Academics, Agriculture) - Global Forecast to 2023

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By Product and Services, bioinformatics platforms segment is expected to be the fastest-growing segment in the forecast period

Knowledge management tools commanded the largest market share in the global bioinformatics market in 2018, while the bioinformatics platforms segment is expected to be the fastest-growing segment in the forecast period. The major factor driving growth of bioinformatics platforms is their growing use in various genomic applications.

By Application, the metabolomics segment is expected to grow at the highest CAGR during the forecast period

Factors such as the availability of research funding and government support are fueling market growth. However, metabolomes cannot be easily identified or figured from reconstructed biochemical pathways due to enzymatic diversity, substrate ambiguity, and difference in regulatory mechanisms. Hence, the annotation of unknown metabolic signals is the main hindrance to growth of the metabolomics segment.

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In 2018, The APAC market is expected to grow at the highest CAGR during the forecast period

The market in the Asia Pacific region is expected to offer significant opportunities for players to offset revenue losses incurred in mature markets. Emerging countries in this region are witnessing growth in their GDPs and a significant rise in disposable income levels. This has led to increased healthcare spending by a larger population base, healthcare infrastructure modernization, and rising penetration of cutting-edge research and clinical laboratory technologies, including bioinformatics, in Asia Pacific countries.

Key Market Players

Thermo Fisher Scientific, Eurofins Scientific, Illumina, Perkinelmer, Inc., Qiagen Bioinformatics, Agilent Technologies, Dnastar, Waters Corporation, Sophia Genetics, Partek, Biomax Informatics AG, Wuxi Nextcode, Beijing Genomics Institute (BGI).

Critical questions the report answers:

⏩ Who are the major market players in the bioinformatics market?

⏩ What are the growth trends and the largest revenue-generating region for bioinformatics?

⏩ How are bioinformatics products and services sold to customers?

⏩ What are the major segments in bioinformatics market?

⏩ What are the driving, restraining, opportunistic, and challenging factors for this market?

 

Here's What Industry Insiders Say About Patient Access Solutions Market

 Patient access solutions include software and services that help healthcare organizations to maintain their financial balance by reducing operational costs and minimizing claims rejection. These solutions are used to verify a patient’s insurance coverage eligibility, enable efficient claims processing, and manage medical necessity & denials.

The patient access solutions market is expected to reach USD 1.74 Billion by 2022 from an estimated USD 1.14 Billion in 2016, at a CAGR of 7.6%.

Regulatory compliance encouraging the use of patient access solutions, increasing patient volume and the subsequent growth in the demand for health insurance, growing importance of denials management, declining reimbursement rates, and the need to curtail escalating healthcare costs are the major factors driving the growth of the patient access solutions market. The base year considered for the study is 2016 and the forecast period includes 2017 to 2022.

Browse 62 market data Tables and 34 Figures spread through 145 Pages and in-depth TOC
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Based on delivery mode, the patient access solutions market is classified into web & cloud-based solutions and on-premise solutions. The web & cloud-based solutions segment accounted for the largest share of the patient access solutions market in 2016. The flexibility of working from remote areas, affordability, and automated updating features are some of the factors attributing to the larger share of the web & cloud-based solutions segment

The global patient access solutions market by end user is segmented into healthcare providers, Healthcare IT outsourcing companies, and other end users. In 2016, the healthcare providers segment accounted for the largest share of the market. The high share of this segment is mainly attributed to the growing healthcare IT adoption, increasing healthcare costs, significant growth in healthcare spending worldwide, and declining reimbursement rates.

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Regional Growth, Development and Demand Analysis:

North America’s large share in the global market is attributed to factors such as stringent regulations, increasing government support for improving healthcare infrastructure, the need for reducing healthcare costs, increasing volume of claims denials, high number of private healthcare payers and well-established government payers, and the presence of a large number of healthcare IT companies

Key Market Players

McKesson (US), Epic Systems (US), Cerner (US), Cognizant (US), Experian plc (Ireland), Optum (US), Conifer Health (US), The Advisory Board (US), 3M (US), Craneware (UK), The SSI Group (US), ZirMed (US), Cirius Group (US), and AccuReg Software (US).

This Is Why This Year Will Be The Year Of Medical Device Reprocessing Market

The medical device reprocessing includes cleaning, disinfection, inspection, sterilization, and repackaging of used medical devices for its reuse to diagnose and treat multiple patients.

The global medical device reprocessing market is projected to be valued at USD 823.5 Million in 2017 and is expected to grow at a CAGR of 16.3% during the forecast period to reach to USD 1,754 Million by 2022. Base year considered for the report is 2016.

The growth of this market is majorly driven by the increased utilization of the low priced reprocessed medical devices as compared to new devices, increased efforts towards reducing regulated medical waste (RMW), and rising number of surgical procedures associated with the growing prevalence of chronic diseases. However, the risk of transmission of surgical site infections associated with the use of reprocessed devices may hinder the growth of the market to a certain extent.

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Application of Medical Device Reprocessing Market:

1. Catheters
2. Gastroenterology, Urology, and Gynecology
3. Arthroscopy and Orthopedic Surgery
4. General Surgery and Anesthesia

The key factors driving the growth of this market include the low prices of reprocessed devices as compared to new ones and the pressure to reduce the volume of medical waste generated.

The report analyzes the market by product & service, type of medical device, application, and region. On the basis of product & service, the reprocessing support and services segment accounted for the largest share in 2016, owing to the increased adoption of third-party reprocessing services over in-house reprocessing services by hospitals, clinics, surgical centers, clinical pathologies, and other healthcare organizations. Based on type of medical device, the catheters segment accounted for the largest share in 2016 and is expected to grow at the highest CAGR during the forecast period.

Regional Growth, Development and Demand Analysis:

Geographically, the global medical device reprocessing market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. In 2016, North America dominated the market, and this is primarily attributed to its well-established healthcare industry, growing prevalence of chronic diseases, and increasing volume of surgical procedures.

The European region is expected to witness the highest CAGR during the forecast period, owing to the rising prevalence of chronic diseases, increasing geriatric population, rising healthcare expenditure, increasing number of surgical procedures, and growing awareness about the usage of reprocessed medical devices

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Key Players:

Stryker Corporation (U.S.) and Johnson & Johnson (U.S.) dominated the global medical device reprocessing market. Some of the other players competing in this market are Vanguard AG (Germany), Medline ReNewal (U.S.), Medtronic plc (Ireland), SteriPro Canada, Inc. (Canada), Pioneer Medical Devices AG (Germany), Vascular Solutions, Inc. (U.S.), HYGIA Health Services, Inc. (U.S.), ReNu Medical, Inc. (U.S.), SureTek Medical (U.S.), and Centurion Medical Products Corporation (U.S.).