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Pharmacy Automation Market Size, Future Scope, Business Progress, Product Types, End User & Upcoming Projections 2027 | MarketsandMarkets™

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Pharmacy Automation Market Size, Future Scope, Business Progress, Product Types, End User & Upcoming Projections 2027 | MarketsandMarkets™

March 11
01:44 2023
Pharmacy Automation Market Size, Future Scope, Business Progress, Product Types, End User & Upcoming Projections 2027 | MarketsandMarkets™
Becton, Dickinson and Company (BD) (US): As a global manufacturer of high-quality pharmacy automation products, BD aims to further strengthen its market position through organic growth strategies such as investments in research & development activities.
Global pharmacy automation market boasts a total value of $5.6 billion in 2022 and is projected to register a growth rate of 7.9% to reach a value of $8.2 billion by 2027

Pharmacy automation is becoming increasingly popular among pharmacies, as it helps to streamline and simplify the pharmacy workflow. Automation of pharmacy processes has been around for some time, but recent advances in technology have made it more accessible and cost-effective for pharmacies to implement.

The global pharmacy automation market is expected to grow significantly over the forecast period, due to the increasing use of robotic systems for pharmacy processes, such as drug dispensing, packaging, and labeling. Automation of pharmacy processes helps to reduce labor costs and improve efficiency, resulting in cost savings for pharmacies. Additionally, the increasing number of hospitals and other health care facilities across the world is expected to fuel the demand for pharmacy automation systems.

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The increasing demand for pharmacy automation systems is also driven by the rising need for error-free medication delivery. Automation of pharmacy processes helps to reduce medication errors, as it eliminates the need for manual data entry and reduces the possibility of incorrect drug dose or drug interaction. Automation systems also help to improve patient safety by tracking and monitoring drug inventory levels, preventing overdoses and drug abuse.

The pharmacy automation market is segmented into medication delivery systems, medication dispensing systems, pharmacy automation systems, and other automation systems. The medication delivery systems segment is expected to hold a significant share of the market, due to its ability to provide accurate and efficient medication delivery. The medication dispensing systems segment is also expected to witness significant growth, as it helps to reduce the time required to collect and dispense medications.

Key Market Players

The pharmacy automation market is consolidated at the top with a large number of leading market players based in developed countries. The prominent players operating in this market include Becton, Dickinson and Company (US), Omnicell, Inc. (US), KUKA AG (Swisslog Healthcare) (Germany), Baxter International Inc. (US), Capsa Healthcare (US), Cerner Corporation (US), Yuyama Co., Ltd. (Japan), ARxIUM Inc. (US), Parata Systems, LLC (US), RxSafe, LLC (US), ScriptPro LLC (US), Pearson Medical Technologies, LLC (US), Medical Packaging Inc., LLC (US), Tension Corporation (US), Noritsu Pharmacy Automation (US), Euclid Medical Products (US), TouchPoint Medical Solutions (US), Meditech Pharmacy Management Solutions (Belgium), and Innovation Associates (US). Due to the intense competition in the market, major market players are increasingly focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies such as product launches, and acquisitions.

The increasing adoption of pharmacy automation systems across various health care settings is expected to fuel the growth of the pharmacy automation market. The rising prevalence of chronic diseases, such as diabetes and hypertension, is expected to contribute to the growth of the market. Additionally, the introduction of advanced pharmacy automation solutions, such as automated medication dispensing systems, is expected to further drive the growth of the market.

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The study categorizes the pharmacy automation market based on product, end user and regional level.

By Product

  • Automated Medication Dispensing and Storage Systems
  • Automated Packaging and Labelling Systems
  • Automated Tabletop Counters
  • Automated Medication Compounding Systems
  • Other Pharmacy Automation Systems

By End User

  • Inpatient Pharmacies
  • Outpatient Pharmacies
  • Retail Pharmacies
  • Pharmacy Benefit Management Organizations and Mail-Order Pharmacies

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Recent Developments:

  • Capsa Healthcare announced the acquisition of Humanscale Healthcare (US), a designer and manufacturer of flexible technology solutions and computing workstations based in New York. Combined, Capsa now offers the broadest product suite in the market and expands its ability to provide ergonomically tailored point-of-care computing solutions to healthcare partners worldwide.
  • Capsa Healthcare (US) announced an expansion to its suite of NexsysADC automated dispensing cabinets. NexsysADC can accommodate any size of controlled or high-value medications or supplies in two new sizes of Controlled Access Module Drawers.
  •  Innovation Associates (US) launched SmartPod, a next-generation robot for central-fill pharmacy environments. SmartPod allows providers to adjust and scale their centralized fulfillment solutions to meet demands.
  • Omnicell, Inc. (US) acquired ReCept Holdings, Inc., (US) along with its specialty pharmacy management services for health systems, provider groups, and federally qualified health centers (FQHCs), to expand its Advanced Services portfolio.
  • 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.

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