[FURL=https://www.industryarc.com/Report/19657/drug-administration-automation-market.html?utm_source=briefingwire&utm_medium=Pressrelease&utm_campaign=Paidpressrelease]Drug Administration Automation Market[/FURL] size is anticipated to reach $8,143 million by 2026 growing at a CAGR of 8.8% during the forecast period 2021-2026. The drug administration automation industry growth rate is attributed to the rising need to reduce errors and development of automated systems with improved features and is anticipated bringing new opportunities. Drug administration automation is a process where handling and distribution of takes place in hospital pharmacy or at retail pharmacy by means of automation. Drug administration automation includes any task that involves electronic health record, counting of small objects such as tablets or capsules, measuring and mixing of powders and liquids for compounding, tracking and updating customer information in databases such as dispensing system, personally identifiable information (PPI), drug interaction risk detection, medical history and inventory management. The introduction of electronic health record, barcode scanning technology, smart dashboard, and data security in drug administration for seamless workflow is anticipated to further enhance their overall efficiency. Moreover, these devices reduce labor costs and errors and enhance accuracy and speed.Key Takeaways
North America dominated the Drug Administration Automation market with a share of 37.16% in the year 2020.
The factors such as introduction of technological advancements and development of automated systems with improved drug administration automation systems result in higher success rate are amongst the major factor projected to impel growth of Drug Administration Automation market.
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Drug Administration Automation Market Segment Analysis - By Geography
North America is the major region dominating the Drug Administration Automation market with a market share of 37.16% in the year 2020. This can be attributed to the technological advancements in management in hospitals and pharmacies are poised to drive the demand for pharmacy automation devices in North America.
Drug Administration Automation Market Drivers
Growing Need to Minimize Errors
Drug Administration Automation Market top 10 companies are Becton, Dickinson and Company, McKesson Corporation, Yuyama Co., Ltd., Omnicell, Inc., ScriptPro LLC, Cerner Corporation, Capsa Healthcare, Baxter International, Inc., KUKA AG, TCGRx Pharmacy Workflow Solutions, RxSafe, LLC, ARxIUM Inc. Swisslog Holdings AG, Talyst systems LLC and others.
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