China Hospitals & Pharmacy Market, By Component (Equipment, Software and Services), Type (Automated Prescription Formulation and Dispensing, Automated Health Assessment and Monitoring, Automated Imaging and Image Analysis, Automated Healthcare Logistics, Resource and Personnel Tracking, Medical Robotics and Computer-Assisted Surgical Devices, Automated Therapeutic (Nonsurgical) Procedures, Automated Laboratory Testing and Analysis), Application (Diagnostics & Monitoring, Therapeutics, Lab & Pharmacy Automation, Medical Logistics & Training and Others), Connectivity (Wired and Wireless), End User (Hospitals, Pharmacies), Distribution Channel (Direct Tender, Retail Sales, Online Sales and Others) Industry Trends & Forecast to 2028
Market Analysis and Insights: China Hospitals and Pharmacy Market
The hospitals & pharmacy market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 12.0% in the forecast period of 2021 to 2028 and is expected to reach USD 2,868.14 million by 2028 from USD 1,162.45 million in 2020. The rising prevalence of osteoarthritis and favorable government policies for traditional Chinese medicine are the major drivers which propelled the demand of the market in the forecast period.
Hospital & pharmacy automation comprises the technology used to decrease medical errors, promote better management of various chronic illnesses, along with enabling healthcare professionals to forestall prognosis. Hospital automation controls the monitoring, diagnostic and therapeutic machinery which aids the healthcare professionals in the major responsive tasks in various healthcare facilities. The use of medical automation increases the predictability of outcomes in patients who follow a standardized care path supported by automation.
Moreover, medical & pharmacy automation aids in detecting the changes in the care plan of patients leading to better and effective plans to support their healthy wellbeing. The implementation of the technologies enhances the efficiency of hospitals by reducing the processing time along with improving the accuracy of medical procedures. Increased demand and adoption of medical automation in hospitals such as robotic-assisted systems for health check-ups are anticipated to propel the growth of the market thereby improving patient safety. The pharmacy automation systems are adopted for pharmacy dispensing, medical logistics, inventory management, and prescription management among others.
This hospitals & pharmacy market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
China Hospitals & Pharmacy Market Scope and Market Size
The hospitals & pharmacy market is segmented into six notable segments which are based on the component, type, application, connectivity, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the hospitals & pharmacy market is segmented into equipment, software and services. In 2021, equipment segment is expected to dominate the China hospitals & pharmacy market due to growing number of hospitals, which are significantly affecting on further growing demand of equipment.
- On the basis of type, the hospitals & pharmacy market is segmented into automated prescription formulation and dispensing, automated health assessment and monitoring, automated imaging and image analysis, automated healthcare logistics, resource and personnel tracking, medical robotics and computer-assisted surgical devices, automated therapeutic (nonsurgical) procedures, automated laboratory testing and analysis. In 2021, automated prescription formulation and dispensing segment is expected to dominate the China hospitals & pharmacy market due to the rising geriatric population in China requiring devices like insulin pumps and defibrillators for their treatment.
- On the basis of application, the hospitals & pharmacy market is segmented into diagnostics & monitoring, therapeutics, lab & pharmacy automation, medical logistics & training and others. In 2021, therapeutics segment is expected to dominate the China hospitals & pharmacy market because of the increased demand of therapeutics interventions due to advancement in technologies.
- On the basis of connectivity, the hospitals & pharmacy market is segmented into wired and wireless. In 2021, wired segment is expected to dominate the China hospitals & pharmacy market because of the availability of broad product range in this segment.
- On the basis of end user, the hospitals & pharmacy market is segmented into hospitals, pharmacies. In 2021, pharmacies segment in end use is going to dominate the market, as it is the prime location visited by patients to receive medicines for the treatment of any form of medical condition.
- On the basis of distribution channel, the hospitals & pharmacy market is segmented into direct tender, retail sales, online sales and others. In 2021, direct tender segment in distribution channel is going to dominate the market, due to growing demand from hospitals and laboratories.
Advantages of traditional Chinese medicine and increasing research and development are boosting the market growth of traditional Chinese medicine
The hospital & pharmacy market also provides you with detailed market analysis for every country growth in aesthetic industry with advanced composites sales, impact of advancement in the advanced composites and changes in regulatory scenarios with their support for the hospital & pharmacy market. The data is available for historic period 2011 to 2019.
Competitive Landscape and China Hospitals & Pharmacy Market Share Analysis
The hospitals & pharmacy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to China hospitals & pharmacy market.
The major companies which are dealing in the China hospitals & pharmacy market are Takazono Corporation, TOSHO co., Inc., YUYAMA Co.,Ltd, Shanghai Qiyou Precision Electromechanical Co., Ltd., Shandong New Beiyang Information Technology Co., Ltd., Jiangsu Hanyoung Automation Tech Co., Ltd. HollySys Asia Pacific Pte Ltd., Asahi Kasei Medical Co., Ltd. (a subsidiary of Asahi Kasei Corporation), Intuitive Surgical, Medtronic, Stryker, Omnicell, Inc., BD, Baxter, Siemens Healthcare GmbH, Koninklijke Philips N.V., GE Healthcare and Johnson & Johnson Services, Inc. among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many acquisition, agreement, collaboration are also initiated by the companies in China which are accelerating the growth of hospitals & pharmacy market.
- In January, Shanghai Qiyou Precision Electromechanical Co., Ltd.’s Ai Linghang (pipeline product) was showcased at the Arab Health 2020, held in Dubai. The people observed the new technologically sound pill packaging machine along with a pill box and an alarm system which will minimize the extensive pill packaging process. This will help the product to reach more end users and will thus drive the growth of the market in the upcoming years.
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market player is enhancing the company market in the hospitals & pharmacy market which also provides the benefit for organization to improve their offering for hospitals & pharmacy market.
Customization Available: China Hospitals and Pharmacy Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.