Pharmacy Automation Market is projected to reach USD 8.2 billion by 2027 from USD 5.6 billion in 2022, at a CAGR of 7.9% during the forecast period according to a new report by MarketsandMarkets™. The Growth in the market is mainly driven by the rapid decentralization of pharmacies, the rising geriatric population leading to increased adoption of automated dispensing systems, and the growing focus on automation to reduce labor costs. Emerging economies will be the key areas of opportunity for players seeking to expand their presence in the market. However, the stringent regulations that delay product launches can inhibit the growth of this market.
The global pharmacy automation market is expected to witness significant growth in the coming years. This is due to the increasing demand for efficient and cost-effective methods for dispensing drugs and medications. Automated dispensing systems can reduce the time it takes to dispense and fill prescriptions, as well as reduce errors and improve patient safety.
The growing need for improved patient safety and an aging population are driving the demand for pharmacy automation systems. Automated systems can help reduce errors, improve patient safety, and reduce costs. Automated systems also reduce the time it takes to fill prescriptions and can help reduce wait times.
The growing demand for advanced and automated systems for drug dispensing and medication management is also driving the pharmacy automation market. Automated systems offer improved accuracy, accuracy in medication administration, and improved overall patient safety. Automated systems also provide easy and quick access to drugs and medication data, which can help reduce costs and improve patient safety.
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Top Lading Players: 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), and ScriptPro LLC (US)
Some Key Highlights from the Report:
1 The global Pharmacy Automation Market is projected to reach USD 8.2 billion by 2027, at a CAGR of 7.9%
• The increasing demand for automation in the pharmacy sector to reduce human errors, save time, and increase efficiency is driving the growth of the pharmacy automation market.
• The rising elderly population and the increasing prevalence of chronic diseases are two other major factors contributing to the growth of the pharmacy automation market.
• The Covid-19 pandemic has also had a significant impact on the pharmacy automation market, with a surge in the demand for automated systems to reduce the risk of infection.
· North America holds the largest share of the pharmacy automation market
Segments covered in the report:
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
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Regional Outlook:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
1. What are the dominating factors that are influencing the growth of the industry?
2. In the forecast period, which market segment is expected to rise the most?
3. What are the risks and challenges that the industry is facing?
4. In the coming years, which area is projected to dominate the market?
5. Who are the major players in the market?
6. What kind of strategic business plans have they made?
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