Pharmacy Automation Devices Market to Achieve $5.52 Billion in 2023, Fueled by Innovation and Waste Reduction Solutions

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Oct 18, 2023, 13:30 ET

DUBLIN, Oct. 18, 2023 /PRNewswire/ -- The "Pharmacy Automation Devices Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The global pharmacy automation devices market is set for substantial expansion, expected to rise from $4.96 billion in 2022 to $5.52 billion in 2023, driven by a robust compound annual growth rate (CAGR) of 11.3%. This growth trend is anticipated to continue, with the market projected to reach $8.24 billion by 2027, supported by a CAGR of 10.6%.

Major Players:

Omnicell Inc.
McKesson Co
Baxter International Inc.
ScriptPro LLC
Becton Dickinson & Company
Cerner Corporation
ARxIUM
Capsa Healthcare
Script Pro
Deenova S.R.L
Swisslog Healthcare
RxSafe LLC
Yuyama Co. Ltd.
Accu Chart Plus Healthcare Systems Inc.
Amerisource Bergen Corp
Talyst LLC
Medacist Solutions Group
Kirby Lester
TouchPoint Medical
Kuka AG (Swisslog Healthcare)
Danaher Corporation
Lonza Group

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Pharmacy automation devices streamline the distribution, sorting, packaging, and counting of prescription medications, minimizing the possibility of errors and enhancing direct patient care.

Product Types:

Medication Dispensing Systems
Packaging and Labeling Systems
Storage and Retrieval Systems
Automated Medication Compounding Systems
Tabletop Tablet Counters

These systems cater to various end-users, including retail pharmacies, inpatient pharmacies, outpatient pharmacies, pharmacy benefit management organizations, and mail-order pharmacies.

Market Research Report:

The pharmacy automation devices market research report provides comprehensive statistics, encompassing global market size, regional shares, competitive analysis, detailed market segments, trends, and growth opportunities. It delivers an in-depth analysis of the current and future scenarios within the industry.

Key Technological Trend:

Product innovation is a prominent trend in the pharmacy automation devices market. Major companies are focusing on developing innovative solutions to meet customer demand. For example, Innovative Associates launched the SmartPod and iA Therapy Management Solutions in August 2021 to reduce prescription filling process inefficiencies. SmartPod is a next-generation robot with modularity that enables pharmacy providers to scale their centralized fulfillment solutions to match demand, optimizing patient care.

Strategic Acquisition:

In June 2022, Becton, Dickinson, and Company acquired Parata Systems for $1.5 billion, expanding its presence by introducing robotics technologies that automate pharmacy tasks. This acquisition enhances operational efficiency and medication management.

Regional Highlights:

North America emerged as the largest region in the pharmacy automation devices market in 2022, with Asia-Pacific expected to be the fastest-growing region in the forecast period. Other regions covered include Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa.

Covered Countries:

Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

Rising Medicine Wastage:

The growth of the pharmacy automation devices market is propelled by the rising issue of medicine wastage, including expired, unused, spilled, and contaminated pharmaceuticals. Automated dispensing machines minimize waste by efficiently providing access to medications for emergencies during and after pharmacy hours. This waste reduction increases demand for the market.

Market Value:

The market value represents the revenues generated by enterprises within the specified market and geography, typically denominated in USD.

Key Topics Covered:

1. Executive Summary

2. Pharmacy Automation Devices Market Characteristics

3. Pharmacy Automation Devices Market Trends And Strategies

4. Pharmacy Automation Devices Market - Macro Economic Scenario
4.1. COVID-19 Impact On Pharmacy Automation Devices Market
4.2. Ukraine-Russia War Impact On Pharmacy Automation Devices Market
4.3. Impact Of High Inflation On Pharmacy Automation Devices Market

5. Pharmacy Automation Devices Market Size And Growth
5.1. Global Pharmacy Automation Devices Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Pharmacy Automation Devices Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Pharmacy Automation Devices Market Segmentation
6.1. Global Pharmacy Automation Devices Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

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

6.2. Global Pharmacy Automation Devices Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

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

7. Pharmacy Automation Devices Market Regional And Country Analysis
7.1. Global Pharmacy Automation Devices Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Pharmacy Automation Devices Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/deyz4t

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