Saudi Arabia Automated Medication Management System Market 2021-2027 with Analysis of the Impact of COVID-19 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Automated Medication Management System Market (2021-27): Markets Forecast by System Types, by Verticals, by Regions and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Saudi Arabia Automated Medication System Market size is projected to grow at CAGR of 8.5% during 2021-27.
Saudi Arabia Automated Medication Management System Market report comprehensively covers the market by system types, verticals and region. The report provides an unbiased and detailed analysis of the ongoing market trends, opportunities, high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
Numerous hospital construction projects and partnership agreements between private companies such as Omnicell Inc, Abbot Industries with Imam Abdulrahman Bin Faisal University Hospital coupled with growing healthcare expenditure by the Saudi government would further multiply the market revenues in the near future.
Further, by system types, automated dispensing system dominated the Saudi Arabia automated medication management system market revenues in 2020 on account of high adoption rate of dispensing cabinets in hospitals and pharmacies in the country.
Additionally, the healthcare system came up with the efficient drug distribution and a smaller number of medication errors owing the use of automated dispensing system in the country which further contributed to the highest revenue share in 2020.
Saudi Arabia Automated Medication System Market Synopsis
Saudi Arabia automated medication management system market registered growth in past years owing to the rise in investment by hospitals to improve workflow, rapid advancement in medical technology, and an increase in focus on reducing medication errors in the country.
Additionally, the adoption of IT in the healthcare sector is a factor that would fuel the market growth during the forecast period. Further, market witnessed a fall in revenues during 2020 due to the ongoing pandemic of COVID-19, which resulted in a suspension of economic activities, decline in manufacturing of medical devices and disrupted supply chain in the region due to lockdown across the country.
However, the upsurge in the number of medication errors during COVID-19, growing healthcare infrastructure, public private partnerships in healthcare sector, demand for quality healthcare services from the rising urban population in different provinces of the country, Saudi Vision 2030 healthcare goals and National Transformation Program (NTP) launched by the Saudi government would be the key catalysers for the overall growth of the automated medication management system market.
Market Analysis by Application
On the basis of verticals, the market share was dominated by the Hospital segment in 2020 owing to the growing need of automated medication management system specifically automated dispensing cabinets and computerized physician order entry system to minimize the occurrences of medication and dispensing errors.
Projects such as King Fahad Medical City, King Khalid City etc. launched by the government towards construction of new hospitals in country would also increase the number of wards and would complement the demand for automated dispensing system in the government hospitals during the forecast period.
Market Analysis by Geography
The Northern region dominated the market of automated medication management systems in 2020 and the same trend is anticipated to continue in the coming years on the account of adoption of robotic dispensing system and robotic process automation in multi-specialty hospitals such as The King Fahad Medical Hospital, Saudi German Hospital and King Faisal Specialist Hospital Research Center.
Furthermore, the upcoming healthcare projects in Saudi Arabia which includes medical complex project in Jeddah with 1000 beds and other hospitals construction and refurbishment projects in the Eastern Province has secured it as the second most developed region in terms of healthcare services associated with automated medication management systems.
Key Highlights of the Report:
- Saudi Arabia Automated Medication Management System Market Overview
- Saudi Arabia Automated Medication Management System Market Outlook
- Saudi Arabia Automated Medication Management System Market Forecast
- Historical Data and Forecast of Saudi Arabia Automated Medication Management System Market Revenues for the Period 2017-2027F
- Market Drivers
- Market Restraints
- Saudi Arabia automated medication management system market Trends
- Industry Life Cycle
- Porter's Five Force Analysis
- Market Opportunity Assessment
- Market Player's Revenue Shares/Ranking
- Market Competitive Benchmarking
- Company Profiles
- Market Scope and Segmentation
- Becton, Dickinson and Company
- Cerner Corporation
- General Electric Company
- GPI S.p.A.
- Grupo Bidco Palex
- JVM Co Ltd.
- McKesson Corporation
- ScriptPro LLC
- Talyst Systems LLC
Key Attractiveness of the Report:
- COVID-19 Impact on the Market
- 10 Years Market Numbers
- Historical Data Starting from 2017 to 2020
- Base Year: 2020
- Forecast Data until 2027
- Key Performance Indicators Impacting the Market
- Major Upcoming Developments and Projects
The report provides a detailed analysis of the following market segments:
By System Types
- Computerized Physician Order Entry System
- Inventory Management System
- Automated Dispensing System/ Supply Dispensing System
- Automated Centralized Dispensing System
- Robots/ Robotic Automated Dispensing System
- Automated Decentralized Dispensing System
- Pharmacy-Based Decentralized Automated Dispensing System
- Ward-Based Decentralized Automated Dispensing System
- Unit-Dose Decentralized Automated Dispensing System
- Diagnostic Centers
- Logistics & Warehouse
- Others (Dispensaries, clinics, logistics & warehouses)
For more information about this report visit https://www.researchandmarkets.com/r/yndilx
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