Global Pharmacy Automation Devices Market Size study & Forecast, by Product (Medication Dispensing Systems, Packaging And Labeling Systems, Storage And Retrieval Systems, Automated Medication Compounding Systems, Tabletop Tablet Counters) by End-use (Reta

Global Pharmacy Automation Devices Market Size study & Forecast, by Product (Medication Dispensing Systems, Packaging And Labeling Systems, Storage And Retrieval Systems, Automated Medication Compounding Systems, Tabletop Tablet Counters) by End-use (Retail Pharmacy, Inpatient Pharmacies, Outpatient Pharmacies, Pharmacy Benefit Management Organizations and Mail-Order Pharmacies) and Regional Analysis, 2023-2030

Global Pharmacy Automation Devices Market is valued approximately USD 5.5 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 9.9% over the forecast period 2023-2030. Pharmacy automation devices are advanced technological solutions designed to streamline and enhance various processes within a pharmacy setting. These devices are employed to automate tasks such as medication dispensing, inventory management, prescription filling, and labeling, aiming to improve efficiency, accuracy, and overall patient care. Automated dispensing systems, robotic pill dispensers, and prescription verification tools are examples of pharmacy automation devices. The Pharmacy Automation Devices market is expanding because of factors such as rising demand for robotics dispensing devices across hospital and retail pharmacies, increasing medication dispensing errors across pharmacies and rising adoption of these systems across acute care settings in hospital and retail pharmacies.

The robotic dispensing system (RDS) is a pivotal component in the pharmaceutical landscape, automating the storage, counting, and dispensing of various medication pills to facilitate centralized pharmacies in efficiently fulfilling high-volume prescriptions. The heightened precision and efficiency of these robotic systems have fueled an increasing demand, particularly in acute care settings, where they are employed for drug barcoding, dispensing, and intravenous compounding. Major industry players are actively contributing to the expansion of technologically advanced robotic dispensing systems in healthcare settings, driving growth in the pharmacy automation devices market. March 2023 article published by NCBI underscores the widespread adoption of robotic dispensing systems as a comprehensive solution to mitigate medication errors during the dispensing process. These systems are responsible for filling over 90,000 patient prescriptions daily in central pharmacy systems. Notably, various pharmacy settings, both outpatient and institutional, are now prioritizing the automation of medication dispensing systems to address the escalating incidence of medical errors and the growing demand for specialty drug dispensing, which necessitates more intricate techniques than traditional prescription drugs. Real-world success stories further validate the impact of robotic dispensing systems. The Wirral Hospitals NHS Trust reported a remarkable 50.0% reduction in medication dispensing errors within just four months of implementing a pharmacy robot in March 2022. The American Society of Health-System Pharmacists (ASHP) national survey in 2020 revealed that 74.5% of hospitals utilize robots for drug dispensing. These findings underscore the significant advantages offered by robotic systems, including enhanced workflow and error-free medication dispensing, contributing to their increasing adoption and high demand in hospital pharmacies across developed countries, thereby bolstering market growth. In addition, rising technological advancements and rising initiatives for modern healthcare infrastructure. However, the lack of skilled personnel in automation sector, high cost of pharmacy automation devices stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Pharmacy Automation Devices Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing demand for efficient and error-free medication management systems has driven the adoption of automation devices in pharmacies across the region. The ongoing advancements in technology and the trend toward digitization in healthcare are also pivotal drivers. Integration of electronic health records (EHRs), connectivity with other healthcare systems, and the implementation of smart automation solutions contribute to a more interconnected and efficient healthcare ecosystem, fostering the adoption of pharmacy automation devices in the region. Europe is expected to grow at a fastest rate during the forecast period, owing to factors such as rising adoption of advanced technological solutions within pharmaceutical settings, the stringent regulatory environment in Europe emphasizes the importance of compliance and traceability in the pharmaceutical supply chain. Pharmacy automation devices, equipped with features such as drug barcoding and inventory tracking, assist pharmacies in meeting these regulatory requirements.

Major market player included in this report are:
Amerisource Bergen Corporation
Accu-Chart Plus Healthcare Systems, Inc.
Omnicell, Inc.
McKesson Corporation
Pearson Medical Technologies
Baxter
Talyst, LLC (Swisslog Healthcare)
Scriptpro LLC
Fulcrum Pharmacy Management, Inc.
Health Robotics S.R.L.

Recent Developments in the Market:
 In July 2022, BD has announced the acquisition of Parata Systems, LLC, a company known for its pioneering pharmacy automation systems and solutions. Within the Parata Systems product lineup are automated dispensing systems that resemble vending machines, designed for the precise dispensing, capping, and sorting of pills. Additionally, the portfolio encompasses advanced software programs tailored for pharmacy automation devices, further expanding BD's capabilities in the evolving landscape of pharmaceutical automation
 In Aug 2021, Capsa Healthcare has strategically acquired Specialty Carts Inc. with the aim of enhancing its capabilities in long-term care (LTC) medication management. This acquisition reinforces Capsa's commitment to offering a comprehensive and diverse range of products in the field of pharmacy automation. By integrating the expertise and solutions of Specialty Carts Inc., Capsa Healthcare aims to further strengthen its position in providing advanced and tailored medication management solutions for long-term care settings.

Global Pharmacy Automation Devices Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Product, End-use, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Medication Dispensing Systems
Packaging And Labeling Systems
Storage And Retrieval Systems
Automated Medication Compounding Systems
Tabletop Tablet Counters

By End-use:
Retail Pharmacy
Inpatient Pharmacies
Outpatient Pharmacies
Pharmacy Benefit Management Organizations
Mail-Order Pharmacies

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Amerisource Bergen Corporation
Accu-Chart Plus Healthcare Systems, Inc.
Omnicell, Inc.
McKesson Corporation
Pearson Medical Technologies
Baxter
Talyst, LLC (Swisslog Healthcare)
Scriptpro LLC
Fulcrum Pharmacy Management, Inc.
Health Robotics S.R.L.

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.