Pharmacy Automation Systems Market Value to Grow by Almost $3175.2 Million During 2021-2026

The covid-19 pandemic have created an awareness regarding the need of automotive and robots in pharmaceutical industries. As pharmacy automation system can help in reducing the medication errors, and also reduce medication cost, its demand may have a positive impact during the forecast period. With the help of robots, labour cost can be reduced which can act as a driver for the market growth. Some of the recent developments in the industry are mentioned below.

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In July 2020, Baxter International, Inc., and Ayogo Health Inc., a behavioural science based digital health company   announced partnership for unique digital health solutions for home dialysis. The two companies aims to support the needs kidney disease patients through digital health solutions. Ayogo’s life plan as its unique digital platform with Baxter’s expertise in renal care to build mobile apps and digital solutions can bring timely and customised support to kidney failure patients. Baxter has also invested in Ayogo.

the global pharmacy automation systems market is projected to register a healthy CAGR of 6.7% over the forecast period owing to various factors, on which Future Market Insights offers detailed insights and forecasts. A key trend in the global pharmacy automation systems market is the increasing usage of RFID enabled cabinets of automated dispensing. Also the players in this market are increasingly working on big data and analytics solutions to provide useful and valuable insights to their clients.

The market of global pharmacy automation systems is estimated to reach US$ 3,344.7 Mn by 2016 end expanding at a CAGR of 6.7% during 2016-2026. Among product types, the revenue from medication dispensing cabinet segment is projected to increase at a CAGR of 7.9% over 2016–2026. Among applications, drug dispensing and packaging segment is estimated to account for 46.7% market share in the global pharmacy automation systems market by the end 2016.  North America is estimated to account for 62.3% market share in the global pharmacy automation systems market by 2016 end.

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Key Player:

Some companies of the global pharmacy automation systems market identified in the report include Swisslog Holdings AG, Kirby Lester LLC, Cerner Corporation, Omnicell Inc., Talyst, LLC., Baxter International Inc., Care Fusion Corporation, etc.

Pharmacy automation systems are the systems used for inpatient patient and outpatient pharmacies to automate the routine task of a pharmacist thus these systems automates the entire mechanical processes of handling and distributing medications. However these systems also helps in measuring and compounding medications, tracking and updating patient information in databases, and inventory management.

Pharmacy automation systems considered in the report fall under six major categories – automated dispensing cabinets (medical dispenser), packaging and labelling systems, IV pharmacy (automated drug compounding), robotic dispensing systems, carousal storage systems and tablet splitters. Medication dispensing cabinet is a drug storage device generally used in hospitals and outpatient pharmacies i.e. generally used in decentralised pharmacies.

Regional Outlook:

The global pharmacy automation systems market has been segmented into seven major regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East & Africa (MEA). In terms of value, North America has been estimated to dominate the global pharmacy automation systems market in 2016 and is expected to expand at a CAGR of 6.6% over the forecast period.

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By Segmentation:

To understand and assess opportunities in the global pharmacy automation systems market, we have categorised the report into four sections based on market segmentation as under.

By Product

Medication Dispensing Cabinets, Packaging and Labelling System, IV Pharmacy, Robotic Dispensing System, Carousel Storage Systems, Tablet Splitters.

By Application

Drug Dispensing and Packaging, Drug Storage, Inventory Management.

By End-user

Hospital Pharmacies, Clinic Pharmacies, Retail Pharmacies, Mail Order Pharmacies, Pharmaceutical SMEs.By Region

North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Ex Japan (APEJ), Japan, Middle East and Africa.

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