Global Pharmacy Automation Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Pharmacy Automation Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Pharmacy Automation market finds that the global Pharmacy Automation market reached a value of USD 4898.87 million in 2022. It’s expected that the market will achieve USD 6864.33 million by 2028, exhibiting a CAGR of 5.78% during the forecast period.

COVID-19 forced many unprepared enterprises and processes to digitize at a tortuous speed. Internet has become the foundation of successful economic transformation in COVID-19 era. The integration of services provides a powerful impetus for the Internet and a large number of services to continue to play an economic and social role.

When faced with the fear and pain of COVID-19 epidemic, it is difficult for people to consider certain situations in advance. Business leaders should not only pay attention to how to survive, but also think about how to develop under the background of COVID-19 era, because COVID-19 era is not the past, but a new reality.

COVID-19 has accelerated social and technological changes, and has had an impact on other aspects. This era is a technology-driven era, with data, infrastructure, platform, software or experience driving the medical industry towards automation. Under the epidemic situation, the medical service industry uses Pharmacy Automation to improve efficiency and avoid close contact between personnel.

Strength

Pharmacy automation involves the use of a large number of automated equipment in the process of handling and dispensing drugs. It can involve any pharmaceutical task, including counting drugs (for example, tablets, capsules); And metering and mixing powder and liquid for compounding; Tracking and updating customer information and inventory management. Pharmacy automation has many advantages, and the efficiency improvement brought by automation tasks can help pharmacies maintain their competitiveness in the highly competitive market. Pharmacy automation equipment improves productivity and saves time, enabling pharmacists and their employees to focus on patient care. Nowadays, many pharmacies are highly automated to reduce dispensing errors, reduce dispensing time and improve patient safety. The advantages of Pharmacy Automation will promote the growth of the demand of Pharmacy Automation industry.

Weakness

Some pharmacies resist automation. When the old system has been running for so long, pharmacists or other workers may resist learning the new system. Others may worry about the long-term viability of their work. In addition, Pharmacy Automation has the risk of cross-contamination. Automatic tablet counting machine is designed to classify, count and distribute drugs at high speed, so as to realize fast counting transactions. Although it is unlikely that a tablet will leave enough residue to harm future patients, the risk of contamination increases sevenfold as machines handle thousands of different tablets in one day. These factors will affect the development of Pharmacy Automation industry.

Region Overview:

Geographically, North America held the largest market share – 44.94% in 2021.

Company Overview:

BD, Amerisourcebergen Corporation, McKesson Corporation, Omnicell, Inc. and Arxium, INC.are the five key players in the global Pharmacy Automation market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Pharmacy Automation market in the past 5 years.

BD

BD is one of the largest global medical technology companies in the world and is advancing the world of health by improving medical discovery, diagnostics and the delivery of care. The company supports the heroes on the frontlines of health care by developing innovative technology, services and solutions that help advance both clinical therapy for patients and clinical process for health care providers. BD and its 65,000 employees have a passion and commitment to help improve patient outcomes, improve the safety and efficiency of clinicians’ care delivery process, enable laboratory scientists to better diagnose disease and advance researchers’ capabilities to develop the next generation of diagnostics and therapeutics. BD has a presence in virtually every country and partners with organizations around the world to address some of the most challenging global health issues. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase efficiencies, improve safety and expand access to health care. In 2017, BD welcomed C. R. Bard and its products into the BD family.

Amerisourcebergen Corporation

AmerisourceBergen Corporation is an American drug wholesale company that was formed by the merger of Bergen Brunswig and AmeriSource in 2001. They provide drug distribution and consulting related to medical business operations and patient services. They also distribute a line of brand name and generic pharmaceuticals, over-the-counter (OTC) health care products and home health care supplies and equipment to health care providers throughout the United States, including acute care hospitals and health systems, independent and chain retail pharmacies, mail-order facilities, physicians, clinics and other alternate site facilities, as well as nursing and assisted living centers. They also provide pharmaceuticals and pharmacy services to long-term care, workers' compensation and specialty drug patients.

Segmentation Overview:

Among different product types, Automated Medication Dispensing Systems segment is anticipated to contribute the largest market share in 2027.

Automated Medication Dispensing Systems

Automated Medication Dispensing Systems is a system that helps doctors extend the safe distribution of medications to as many patients as possible in practice at the point of care and other clinical settings. It establishes a strong barrier to prevent medication errors by combining the reasonable judgment of the pharmacist and the inspection of the drug dosage, the National Drug Code (NDC) number and the assigned amount:

Automated Packaging and Labeling Systems

Automated Packaging and Labeling Systems is a system that can turn drug packaging labeling into an automated process. It can reduce the cost of the enterprise, high efficiency, low cost, and intelligent control.

Automated Storage and Retrieval Systems

An automated storage and retrieval system (AS/RS)—also called AS-RS or ASRS—is a type or genre of warehouse automation technology specifically designed to buffer, store, and retrieve product and inventory on demand. It can be used to manage and retrieve stocks of medicines and optimize business processes in pharmacies.

Automated Medication Compounding Systems

Automated Medication Compounding Systems is an automated system that can help pharmacies reduce errors, reduce outsourcing requirements, and reduce cost per dose

Automatic Tablet Counting Systems

Automatic Tablet Counting is providing stricter control over inventory without spending a lot of time on supervision or calibration. Automatic Tablet Counting enables users to dispense medicines faster and calculate tablets more accurately, thus avoiding human errors and saving time, thus better providing direct patient care.

Application Overview:

The market's largest segment by application is the segment Retail Pharmacy, with a market share of 51.08% in 2021.

Inpatient Pharmacy

Pharmacy automation is helping hospitals improve patient outcomes and reduce hospital expenditures. By introducing automation into the hospital environment, pharmacy staff are freed from pill counting tasks in the basement of the hospital, and their expertise can be reused to contribute to clinical and service-oriented operations.

Outpatient Pharmacy

Automating the outpatient pharmacy simplifies the workflow, giving doctors more time to advise patients and monitor compliance. Scalable automation solutions can ensure safe storage and accurate retrieval, improve efficiency and transaction time, and optimize space, which is especially valuable for smaller outpatient pharmacy environments. Outpatient pharmacy automation can also enhance drug safety management and inventory control, and minimize errors. The accurate tracking of the system can also allow outpatient clinics to reduce inventory waste, thereby significantly saving costs.

Retail Pharmacy

Automated retail pharmacies can optimize their prescription workflow, improve patient communication, and automate repetitive and time-consuming tasks to achieve better patient care. Secondly, improve patient participation and compliance, improve customer satisfaction with pharmacy experience and profitability of prescriptions

Key Companies in the global Pharmacy Automation market covered in Chapter 3:

Rxsafe, LLC
KUKA Aktiengesellschaft
Arxium, INC.
Capsa Healthcare
iARx
TouchPoint Medical
Omnicell, Inc.
Scriptpro LLC
Yuyama Co. Ltd.
Amerisourcebergen Corporation
Cerner Corporation
McKesson Corporation
Deenova S.R.L
Parata Systems LLC
BD

In Chapter 4 and Chapter 14.2, on the basis of types, the Pharmacy Automation market from 2018 to 2029 is primarily split into:

Automated Medication Dispensing Systems
Automated Packaging and Labeling Systems
Automated Storage and Retrieval Systems
Automated Medication Compounding Systems

Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Pharmacy Automation market from 2018 to 2029 covers:

Inpatient Pharmacy
Outpatient Pharmacy
Retail Pharmacy
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)