The global pharmacy automation market was worth US$ 5.6 Bn in 2021, according to a new report published by Absolute Markets Insights. The market is expected to expand at a CAGR of 8% from 2022 to 2030. Health is wealth they say but in order to stay healthy, one has to spend certain amount of wealth. Especially in today’s times, when majority of people are being haunted by some kind of ailment or health issue. In order to help the mankind, the medical science is aggressively growing along with the healthcare sector. Pharmaceutical companies have witnessed humungous growth in last couple of decades. Much recent example of COVID-19 pandemic showcases that the healthcare sector was immensely benefitted by the global adversity. Automation has been one of the driving factors for the growth of this sector, especially for the pharma industry. Pharmacy automation basically helps the organization or the pharmacy store in streamlining various mechanical processes required for the distribution and handling of various types of medications. Right from counting small objects like capsules and tablets, to measuring and mixing powders and liquids for compounding and helping in the management of data, pharmacy automation is rapidly gaining popularity.
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As the world made progress, it took toll on the human health and this is why demand for over the counter drugs skyrocketed. The pharmacy stores were witnessing rapid growth, but the processes were time-consuming and this is where pharmacy automation system changed the game for this sector forever. It not only optimized time, but also brought much needed accuracy, which helped the market mint more money. One of the primary factor that has been driving the growth of the global pharmacy automation market is growing demand for improved and proper management of workflow in many hospitals. This problem was mainly faced by those countries that are still developing. Along with this, growing focus on bringing down the number of errors will also contribute to the growth of this market.
Meanwhile, higher setup costs will play a restraining factor for the growth of the global pharmacy automation market. On the other hand, rise in the number of geriatric population and increasing healthcare funding and investment is the reason why the global pharmacy automation market is forecasted to see tremendous growth over the period of next few years.
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Global Pharmacy Automation Market Report Highlights:
- The application segment of the global pharmacy automation market has been bifurcated into medication dispensing systems, automated medication compounding systems, packaging and labelling systems, prescription reordering apps, storage and retrieval systems, tabletop tablet counters and others. The automated medication compounding systems segment is expected to mint money at the fastest rate.
- On the basis of the end users, the global pharmacy automation market has been segregated into various sub categories. Owing to higher number of people seeking treatment in the hospitals, the hospital inpatient pharmacies segment will be minting most of the money for the market.
- Asia Pacific region is forecasted to mint most of the money that too at the fastest rate for the global pharmacy automation market during the forecast period 2022-2030. Deteriorating lifestyle, especially among those aging below 40 along with growing pharmaceutical companies in countries like the China, India, Japan and South Korea is providing impetus to the growth of the market.
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Competitors: Global Pharmacy Automation Market
- AmerisourceBergen Corporation
- Capsa Healthcare
- MCKESSON CORPORATION
- Omnicell Inc.
- Parata Systems
- Pharmacy Automation Systems, LLC
- ScriptPro LLC
- Swisslog Holdings AG
- Talyst, LLC
- Other Industry Participants
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Global Pharmacy Automation Market Segmentation
Absolute Markets Insights has segmented into the global pharmacy automation market on the basis of offerings, application, automation mode, end user and region further into countries.
Global Pharmacy Automation Market Offerings Outlook (Revenue, USD Million, 2015 – 2030)
Global Pharmacy Automation Market Application Outlook (Revenue, USD Million, 2015 – 2030)
- Medication Dispensing Systems
- Automated Medication Compounding Systems
- Packaging and Labelling Systems
- Prescription Reordering Apps
- Storage and Retrieval Systems
- Tabletop Tablet Counters
Global Pharmacy Automation Market Automation Mode Type Outlook (Revenue, USD Million, 2015 – 2030)
Global Pharmacy Automation Market End User Outlook (Revenue, USD Million, 2015 – 2030)
- Hospital Impatient Pharmacies
- Outpatient Pharmacies
- Long-Term Care Pharmacies
- Assisted living facilities
- Continuing care retirement communities
- Nursing homes
- Hospice care centers
- Pain management clinics
- Home care networks
- Mail Order Pharmacies
- Retail Pharmacies
- Government Pharmacies
- Specialty Pharmacies
- Community Pharmacies
Global Pharmacy Automation Market Regional Outlook (Revenue, USD Million, 2015 – 2030)
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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