Pharmacy automation market to hit $7.8B by 2018
ALBANY, N.Y. — New research from Transparency Market Research is taking a look at the market size of the global pharmacy automation systems market, highlighting big growth ahead in the next several years. TMR projects that the market will hit $7.8 billion in 2018, up from the $4.7 billion that the market was valued at in 2011. And a big driver of growth comes from automated dispensing systems.
Based on TMR’s research, about 48% of the overall market and generated revenue — about $2.3 billion — can be attributed to automated medication dispensing systems, and this segment is expected to see a compound annual growth rate (CAGR) of 6.7% by 2020, when it will be worth $3.6 billion.
“The pressing need to prevent medical prescription errors has stoked the demand for automated medication dispensing systems,” a TMR analyst said. "Dispensing the right dosage of medicine and reviewing the inventory at a specified location help to increase the efficiency of a pharmacy while keeping the costs low.”
TMR pointed out that the high cost of implementation has been and will continue to be a barrier to growth, even as the growth of e-prescribing (particularly in Europe and North America has fueled demand). Despite the barrier of upstart cost, though, the analysis projects a CAGR of 7.3% between 2012 and 2018.
BioPlus now dispensing Gilead’s Epclusa
ALTAMONTE SPRINGS, Fla. — BioPlus Specialty Pharmacy announced this week that it is now dispensing Gilead’s recently approved Epclusa (sofosbuvir 400 mg/velpatasvir 100 mg).
The drug, which combines Gilead’s Sovaldi (sofosbuvir) with an NS5A inhibitor called velpatasvir, is indicated to treat all six strains of hepatitis C.
“One of the exciting things for prescribers and patients about Epclusa is that it’s approved to treat all six genotypes,” BioPlus VP pharmaceutical relations Sharon Ferrer said. “In addition, the low cost (wholesale acquisition cost of $74,760) comes in at nearly 50% lower than previous treatments available for the difficult-to-treat genotype 3 of hepatitis C virus.”
FlavoRx founder Kramm dies
Kenny Kramm with his daughter, Hadley
WASHINGTON — Kenny Kramm, founder of FlavoRx, died in a hospital here on July 12 at 55 years old, according to the Washington Post.
Kramm initially developed flavored additives for medicines in 1990s as a way to help his daughter, Hadley, take her medications. The Post reported that Hadley suffered from seizures following a brain hemorrhage at 10 days old, requiring four daily doses of phenobarbital, which she wasn’t receptive to because of how it tasted. He then began to offer it in his pharmacy, eventually founding FlavoRx, which by 2007 was offered in half of the pharmacies in the United States, according to the Post. Kramm sold FlavoRx about 10 years ago.
He is survived by his wife, Shelley, daughters Sarah Spund and Hadley Kramm, parents Harold and Judy Kramm and sister Harriet Pitler.
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