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Pharmacy Automation Devices Market Size [2023-2030] | Industry Share, Growth, Regional Insights, Analysis Report

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Pune, India, March 03, 2023 (GLOBE NEWSWIRE) — The Pharmacy automation devices are used for reducing the risk of the errors, and improve the workflow across the retail and hospital pharmacies. The increase in medication errors is one of the factors, driving the growth of the market. According to a study by published by John Hopkins, in February 2018, around 250,000 deaths occurred in the U.S. owing to medical errors. Moreover, with the increase in the geriatric population, there has been increasing incidence of chronic and life-threatening diseases, and the increasing dispensation of medications.

For instance, according to the article published by the Economic analysis of the prevalence and clinical and economic burden of medication error in England in June 2021, around 237 million medication errors occurred in England annually, leading to adverse drug reactions (ADRs) and caused hundreds of deaths. Thus, to prevent medication errors, several hospitals, and pharmacies are focusing on adopting new and advanced pharmacy automation devices to reduce operating costs, and improve patient safety.

This information is given by Fortune Business Insights™ in an upcoming report, titled, “Pharmacy Automation Devices Market 2023-2030.”

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Industry Developments-

In March 2022, the Walgreens Boots Alliance opened robot-powered micro-fulfillment centers across several states of the U.S. to dispense medicines. This is expected to change the role of pharmacists.

In February 2022, Capsa Healthcare acquired Humanscale Healthcare. The acquisition helped the company in expanding its offering for pharmacy-automated devices.

In 2021, Omnicell, Inc. acquired ReCept Holdings, Inc., along with its specialty pharmacy management services for health systems, provider groups, and federally qualified health centers (FQHCs), to expand its Advanced Services portfolio.

In 2021, Swisslog Healthcare entered into an innovation agreement with Centre Hospitalier – Le Mans to synergize their expertise in the pharmacy field through the automated packaging, and dispensing system, TheraPick.

The report covers the following key insights:

  • New Product launches – For Pharmacy Automation Devices.
  • Technological Advancement in Pharmacy Automation Devices.
  • Impact of COVID-19 on Pharmacy Automation Devices.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:

https://www.fortunebusinessinsights.com/pharmacy-automation-devices-market-106938

The report consists of the profiles of key players, which include several players, including :

  • BD
  • Baxter
  • Omnicell Inc
  • Parata Systems LLC
  • KUKA AG
  • ScriptPro LLC
  • TOUCHPOINT MEDICAL INC.

The pharmacy automation devices market is driven by several factors, including:

  • Growing need to reduce medication errors: Pharmacy automation devices help in reducing medication errors by automating various processes such as prescription filling, dispensing, and inventory management. As medication errors can lead to serious consequences such as patient harm, hospital readmissions, and increased healthcare costs, the demand for pharmacy automation devices is increasing.
  • Increasing demand for advanced healthcare facilities: The increasing demand for advanced healthcare facilities is driving the adoption of pharmacy automation devices. These devices help in improving the efficiency of healthcare operations, reducing costs, and enhancing patient care.
  • Rising adoption of electronic health records (EHRs): Pharmacy automation devices are often integrated with electronic health records (EHRs), which enable real-time tracking of patient health information. This integration can help in reducing medication errors, improving patient outcomes, and increasing efficiency in healthcare operations.
  • Technological advancements in pharmacy automation devices: The introduction of new and advanced pharmacy automation devices such as automated medication dispensing systems, robotic prescription filling systems, and automated inventory management systems are driving the market growth. These devices offer several benefits such as improved accuracy, enhanced patient safety, and increased efficiency.
  • Increasing pressure to reduce healthcare costs: The increasing pressure to reduce healthcare costs is driving the adoption of pharmacy automation devices. These devices help in reducing the need for manual labor, streamlining workflow, and reducing errors, which can lead to cost savings for healthcare providers.

Overall, the pharmacy automation devices market is driven by the need to improve patient safety, increase efficiency, and reduce healthcare costs, which is leading to the adoption of advanced automation solutions in the healthcare industry.

Quick Buy – Pharmacy automation devices Market Research Report:

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Pharmacy automation devices Market Segmentation :

By Product

  • Automated Dispensing Cabinets
  • Dispensing Robots
  • Pill Counting
  • Packaging and Labeling System
  • Others

By End-user

  • Retail Pharmacy and Drug Store
  • Hospital Pharmacy

By Geography

  • North America (U.S. and Canada)
  • Europe (U.K., Germany, France, Italy, Spain, the Rest of Europe)
  • Asia Pacific (China, Japan, India, Australia, Southeast Asia, and the Rest of Asia Pacific)
  • Middle East & Africa (GCC, South Africa, and the Rest of Middle East and Africa)
  • Latin America (Brazil, Mexico and the Rest of LATAM)

The global pharmacy automation devices market can be analyzed regionally based on several factors such as market size, growth rate, and demand. The following is a regional analysis of the pharmacy automation devices market:

North America: The pharmacy automation devices market in North America is expected to grow significantly due to the rising demand for automation in the healthcare industry, increasing adoption of electronic health records (EHRs), and the need for reducing medication errors. The US and Canada are the major countries contributing to the growth of this market in this region.

Europe: Europe is also a significant market for pharmacy automation devices. The market is primarily driven by the increasing adoption of automation in the healthcare industry, rising demand for advanced healthcare facilities, and the need for improving patient safety. The UK, Germany, and France are the major countries contributing to the growth of this market in this region.

Asia-Pacific: The pharmacy automation devices market in the Asia-Pacific region is expected to witness significant growth due to the rising awareness about the benefits of automation in the healthcare industry, increasing investments in healthcare infrastructure, and the need for reducing medication errors. China, Japan, and India are the major countries contributing to the growth of this market in this region.

Latin America: The pharmacy automation devices market in Latin America is expected to witness moderate growth due to the increasing demand for advanced healthcare facilities and the need for reducing medication errors. Brazil and Mexico are the major countries contributing to the growth of this market in this region.

Middle East & Africa: The pharmacy automation devices market in the Middle East & Africa region is expected to witness significant growth due to the increasing investments in healthcare infrastructure, rising demand for advanced healthcare facilities, and the need for reducing medication errors. Saudi Arabia, UAE, and South Africa are the major countries contributing to the growth of this market in this region.

In summary, the pharmacy automation devices market is expected to witness significant growth in all regions, driven by the increasing adoption of automation in the healthcare industry, rising demand for advanced healthcare facilities, and the need for improving patient safety.

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Table Of Contents :

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Global Statistics — Key Countries
    • New Product Launches
    • Pipeline Analysis
    • Regulatory Scenario — Key Countries
    • Recent Industry Developments — Partnerships, Mergers and Acquisitions
  • Global Analysis, Insights and Forecast
    • Key Findings/ Summary
    • Market Analysis — By Product Type
    • Market Analysis — By Distribution Channel
    • Market Analysis — By Countries/Sub-regions
  • Competitive Analysis
    • Key Industry Developments
    • Global Market Share Analysis
    • Competition Dashboard
    • Comparative Analysis — Major Players
  • Company Profiles
    • Overview
    • Products and Services
    • SWOT Analysis
    • Recent developments
    • Major Investments
    • Regional Market Size and Demand
  • Strategic Recommendations

TOC Continued…!

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About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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Email: [email protected]

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Artificial Intelligence

TRON Forum collaborates with four major microcontroller manufacturers to hold TRON Programming Contest Using World-Standard Real-Time OS with 5 million JP YEN cash prize

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TOKYO, March 29, 2024 /PRNewswire/ — TRON Forum (Chair: Ken Sakamura, Professor Emeritus of the University of Tokyo) is pleased to announce that four microcontroller manufacturers, Infineon Technologies Japan K.K. (President & CEO: Ikuya Kawasaki), STMicroelectronics K.K. (Country Manager for Japan: Koichiro Takakuwa), NXP Japan K.K. (President & CEO: Masayuki Wajima), and Renesas Electronics Corporation (President & CEO: Hidetoshi Shibata) have collaborated with the Forum to hold TRON Programming Contest from Monday, December 11, 2023 jointly. The initial registration is being accepted now.

This contest is for engineers and students in Japan and overseas to compete in various  fields such as microcontroller applications, middleware, development environments, and tools using a member of TRON real-time OS (RTOS) family, “μT-Kernel 3.0” (*), which is a global standard of small-scale embedded computer systems.
(*) μT-Kernel 3.0 is an RTOS that fully complies with the real-time OS standard “IEEE 2050-2018” (IEEE Standard for a Real-Time Operating System (RTOS) for Small-Scale Embedded Systems) and runs on microcontrollers from various manufacturers.
Using the latest microcomputer boards provided by the manufacturers, contestants will compete in technologies that bring out the characteristics of RTOSs such as real-time performance, power saving, and small memory footprint, as well as development environments and tools that utilize new technologies.
The details of the contest with the total amount of cash prize, five million Japanese yen are at the following URL: https://www.tron.org/programming_contest/
About TRON Forum
TRON Forum was established in 2002 to promote TRON Project. We have been actively conducting activities centered on the T-Engine project, which prepares the development environment for embedded systems, and the operation of Ubiquitous ID Centers such as ucode.
In May 2015, Chair Sakamura received the ITU 150th Anniversary Award together with Bill Gates and others for his advocacy of open architecture TRON, which is the origin of ubiquitous networking and the IoT.
One member of the TRON RTOS family has been adopted as an international standard for real-time operating systems (RTOS) for small-scale embedded systems as 2050-2018 by Institute of Electrical and Electronics Engineers (IEEE), the world’s largest association of its kind and an international standardization organization. In 2023, the project leader, Chair Sakamura, received the IEEE Masaru Ibuka Consumer Technology Award from the IEEE in honor of the late Mr. Ibuka. In addition, the TRON RTOS family received the IEEE Milestone recognition in 2023.
URL: https://www.tron.org 
 
 

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XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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