In the wake of projected growth, the global pharmacy automation market is poised to soar to new heights, reaching a staggering value of US$ 5.6 billion in 2023, with expectations to exceed US$ 13.3 billion by 2033. This remarkable trajectory underscores the pivotal role of automation in revolutionizing healthcare delivery worldwide.
The exponential growth forecasted for the pharmacy automation market is propelled by a confluence of factors. Firstly, the escalating prevalence of chronic diseases has intensified the demand for streamlined medication management systems. Secondly, the burgeoning need for personalized medicine has spurred innovation in pharmaceutical practices, driving the adoption of automation technologies. Lastly, the imperative to enhance patient safety and operational efficiency in pharmacies has catalyzed the widespread implementation of automated solutions.
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“Pharmacy automation represents a transformative leap forward in healthcare delivery,” remarked FMI. “By harnessing cutting-edge technologies, we empower pharmacists to optimize medication dispensing and packaging processes, mitigating the risk of errors and enhancing patient outcomes.”
Automation technologies offer a multifaceted approach to enhancing pharmacy operations. Automated systems not only bolster the accuracy and efficiency of medication dispensing but also liberate pharmacists’ time, enabling them to dedicate more resources to delivering personalized care to patients.
As the healthcare landscape continues to evolve, pharmacy automation emerges as a cornerstone of innovation, driving unparalleled advancements in patient care and operational efficiency.
Key Takeaways:
- The global pharmacy automation market is expected to grow from US$ 5.6 billion in 2023 to US$ 13.3 billion by 2033, at a CAGR of 8.1%.
- The key drivers of the market growth include the rising demand for medication safety, operational efficiency, and technological advancements.
- The market is segmented by type into automated medication dispensing systems, automated packaging and labeling systems, automated storage and retrieval systems, automated medication compounding systems, and others. The automated medication dispensing systems segment is expected to account for the largest market share during the forecast period.
- The market is also segmented by application into inpatient pharmacy, outpatient pharmacy, retail pharmacy, and others. The outpatient pharmacy segment is expected to account for the largest market share during the forecast period.
- North America is expected to be the largest market for pharmacy automation during the forecast period, followed by Europe and Asia Pacific.
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Regional Outlook:
- North America: The North American pharmacy automation market is expected to grow at the fastest CAGR during the forecast period. This is due to the presence of a large number of key players, the high adoption of advanced technologies, and the increasing demand for medication safety and operational efficiency.
- Europe: The European pharmacy automation market is expected to grow at a moderate CAGR during the forecast period. This is due to the increasing adoption of electronic health records and the growing awareness of the benefits of pharmacy automation.
- Asia Pacific: The Asia Pacific pharmacy automation market is expected to grow at the second-fastest CAGR during the forecast period. This is due to the growing geriatric population, the rising number of prescriptions, and the increasing investments in healthcare infrastructure.
Other Key Regions: The pharmacy automation markets in South America, the Middle East, and Africa are expected to grow at a slower CAGR during the forecast period. This is due to the limited availability of funds, the lack of awareness of the benefits of pharmacy automation, and the underdeveloped healthcare infrastructure in these regions.
Overall, the pharmacy automation market is expected to grow significantly during the forecast period, driven by the increasing demand for medication safety, operational efficiency, and technological advancements.
Key Companies Profiled in the Pharmacy Automation Market:
- Becton
- Cerner Corporation
- Parata Systems LLC
- Yuyama Co. Ltd
- PerceptiMed Inc
- McKesson Corporation
- Capsa Solutions LLC
- Omnicell Inc
- Dickinson and Company
- Arxium Inc
- Scriptpro LLC
- Swisslog Holdings AG
- Rxsafe LLC
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Key Segments in the Pharmacy Automation Market:
By Product:
- Medication Dispensing Systems
- Automated Medication Compounding Systems
- Packaging and Labeling Systems
- Storage and Retrieval Systems
- Tabletop Tablet Counters
By End-use Sector:
- Inpatient Pharmacies
- Acute Care Settings
- Long Term Care Facilities
- Outpatient Pharmacies
- Outpatient/Fast Track Clinics
- Hospital Retail Settings
- Pharmacy Benefit Management Organization and Mail Order Pharmacies
- Retail Pharmacies
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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