Navigation Links
Low Installation Rates in Retail Pharmacies Across Europe Increase the Growth Potential of the Pharmacy Automation Systems Market, Finds Frost & Sullivan
Date:9/1/2010

LONDON, Sept. 1 /PRNewswire/ -- The pharmacy automation systems market in Europe is experiencing a tremendous growth spurt. Until recently, most pharmacies have been either without automation or have employed very basic automation systems. In response, the adoption rate of automation systems across Europe has been progressing from basic prescription management systems to advanced medication pick-up and drug dispensing automation systems. Likewise, although the adoption of automation systems has been most prevalent among hospital pharmacies, there is significant potential for growth in the retail pharmacy market across Europe.

(Logo: http://photos.prnewswire.com/prnh/20081117/FSLOGO)

(Logo: http://www.newscom.com/cgi-bin/prnh/20081117/FSLOGO)

New analysis from Frost & Sullivan (http://www.healthcareIT.frost.com), European Markets for Pharmacy Automation Systems, finds that the market earned revenues of $151.4 million in 2009 and estimates this to reach $360.2 million by 2016. This research service particularly focuses on prescription management automation systems, medication pick-up automation systems and drug dispensing automation systems.

"Pharmacy automation systems translate a product-centric pharmacy model into a patient-centric workflow model, thus improving the pharmacy environment for both the patients and the pharmacists," says Frost & Sullivan Industry Analyst S. Priyan. "More importantly, these systems reduce the waiting time for the patients, lower medication errors, prevent adverse drug events (ADE), and ease operating costs for the pharmacy, thereby enhancing patient safety, pharmacy productivity, and turnover."

There is considerable demand and potential for automation systems among retail pharmacies. Although the annual maintenance charges of automation systems are one of the least in the healthcare IT market in Europe, the revenues of pharmacy automation systems market are expected to more than double only by 2016.

However, diverse adoption characteristics among the various pharmacy groups in Europe result in slow market growth. Furthermore, the availability of varied information systems in the market for pharmacy workflows tends to confuse the end users, resulting in reduced penetration rates.

"There are several information systems available for pharmacy deployment in Europe such as pharmacy management systems, pharmacy information systems, and electronic prescribing systems," explains Priyan. "These systems reduce the market potential for advanced pharmacy automation systems as the end users make do with these basic workflow automation systems to meet the automation requirements of their pharmacy."

Standardising and consolidating delivery models for various pharmacy groups will help in increasing penetration rates. Organising workshops designed to educate end users on the systems' capabilities, and convening meetings to understand their requirements for offering customised solutions, will promote customer satisfaction, and thereby expand the customer base.

If you are interested in more information on this study, please send an e-mail to Katja Feick, Corporate Communications, at katja.feick@frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country.

European Markets for Pharmacy Automation Systems is part of the Healthcare & Life Sciences IT Growth Partnership Services programme, which also includes research in the following markets: European Markets for Business Analytics in Healthcare, Electronic Medical Records Market in Europe, and Strategic Analysis of Care Management Market in Europe. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & SullivanFrost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.European Markets for Pharmacy Automation Systems (M567)Contact:Katja FeickCorporate Communications – EuropeP: +49 (0) 69 7703343E: katja.feick@frost.comhttp://www.frost.comTwitter: twitter.com/frost_sullivan
'/>"/>

SOURCE Frost & Sullivan
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. New TROY SecureRx Prescription Printer Marks 50th Hospital Installation Milestone
2. Heska Announces First Installation of New Blood Gas & Electrolyte Analyzer
3. Health Robotics Surpasses 100 Installations Milestone and Acquires Two I.V. Room of the Future Partner Companies
4. Cytokine Demonstrates Oral Efficacy of Small-Molecule MIF Inhibitors
5. Lpath Demonstrates Strong Safety Profile of Lead Drug Candidate, Sphingomab(TM), in Non-Human Primates
6. Advanced Life Sciences Collaborates with U.S. Government to Study Cethromycin as Treatment for Anthrax and Other High-Priority Biodefense Agents
7. GlaxoSmithKline Accelerates Review of Exelixis XL880
8. ImmuneRegen BioSciences, Inc. Demonstrates Radilex(TM) Increases Disease-Fighting White Blood Cells
9. New Study Presented at WorldSleep 2007 Demonstrates Ramelteon Has Sustained Efficacy Over Six Months in Adults With Chronic Insomnia
10. Cypher(R) Sirolimus-Eluting Coronary Stent Demonstrates Sustained Clinical Benefits Compared to Bare Metal Stents in Five-Year Randomized Clinical Trial With No Differences in Long-Term Safety
11. Lpath Demonstrates Preclinical Efficacy of Lpathomab(TM) and Initiates Humanization Process
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/8/2016)... , Feb. 8, 2016  Sangamo BioSciences, ... therapeutic genome editing, announced that the U.S. Food ... Investigational New Drug (IND) application for SB-318, a ... therapy for Mucopolysaccharidosis Type I (MPS I). The ... Sangamo to initiate a Phase 1/2 clinical study ...
(Date:2/8/2016)... February 8, 2016 ... published by Allied Market Research titled, "World ... Forecasts, 2014-2020", estimates the world synthetic biology market ... and sequencing technology segment would continue to lead ... tools segment, collectively, held around half of the ...
(Date:2/8/2016)... HOUSTON , 8. Februar 2016 /PRNewswire/ ... veröffentlichte heute eine Infografik mit dem Titel ... ganzen Welt), mit der der Krankheit gegenüber ... die dazu ermutigen soll, Medikamentenresistenz bei Epilepsie ... der allgemeinen Diskussion zu machen. Mithilfe der ...
Breaking Medicine Technology:
(Date:2/8/2016)... ... 08, 2016 , ... Stephanie Hebert Insurance Agency, serving families ... new charity campaign. As part of their ongoing community involvement program, funds are ... that children deserve a voice, and in the spirit of neighbors helping neighbors ...
(Date:2/8/2016)... ... February 08, 2016 , ... ... expansion into Canada to provide its range of unique and advantaged protective ... Quebec City that will provide bilingual customer service and marketing support. A new ...
(Date:2/8/2016)... ... February 08, 2016 , ... ... announced today that nominations will be accepted February 8, 2016 through May ... , Awards include the Information Security Executive® of the Year, which recognizes ...
(Date:2/8/2016)... ... February 08, 2016 , ... ... lower incidence rate of type 2 diabetes in the GrassrootsHealth cohort with substantially ... to make a change in public health,” states Carole Baggerly, Director of GrassrootsHealth, ...
(Date:2/8/2016)... , ... February 08, 2016 , ... The schedule ... in this country. The AutismOne 2016 Conference, which is being held May 25-29 at ... won’t hear elsewhere about helpful interventions and causes of chronic illness in children. , ...
Breaking Medicine News(10 mins):