The Japanese pharmacy automation market is on a fast track to growth, driven by a supportive government, an aging population with rising chronic diseases, and a focus on improving healthcare efficiency. According to a recent industry report, the market is expected to achieve a Compound Annual Growth Rate (CAGR) of 9.3% from 2023 to 2033.
The Japanese government is a strong advocate for pharmacy automation, recognizing its potential to improve patient care, reduce medication errors, and alleviate the burden on pharmacists. This commitment is evident in their funding for research and development efforts, as well as their ambitious target of having 50% of all pharmacies automated by 2025.
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“Japan’s dedication to pharmacy automation positions the country as a frontrunner in this rapidly evolving market,” says FMI, a leader in the field of pharmacy automation solutions. “With a growing number of citizens battling chronic illnesses like neurological disorders and cardiovascular disease, the demand for efficient and accurate medication dispensing will only continue to rise.”
This surge in chronic diseases presents a significant opportunity for the Japanese pharmacy automation market. By adopting these automated solutions, pharmacies can ensure timely and precise medication distribution, ultimately leading to better patient outcomes and a healthier population.
Thriving Medical Technology Landscape in the UK Poised for Explosive Growth:
The United Kingdom’s medical technology market is projected to surge at a compound annual growth rate (CAGR) of 9.1% from 2023 to 2033, driven by robust infrastructure, cutting-edge medical technology, and a growing emphasis on research and development (R&D).
This remarkable growth is fueled by several key factors:
- Solid Foundation: The UK boasts a well-equipped healthcare infrastructure, providing a strong foundation for the adoption of advanced medical technologies.
- Innovation Engine: Increased investments in R&D are propelling the creation of groundbreaking medical products and technologies, further propelling market expansion.
- Rising Chronic Disease Rates: The global prevalence of chronic illnesses like obesity, asthma, and cancer is on the rise, creating a significant demand for innovative solutions within the medical technology sector.
- Aging Population Boom: As the global population ages, the need for advanced healthcare solutions intensifies, presenting the medical technology industry with substantial growth prospects.
This promising outlook positions the UK as a thriving hub for medical technology advancements, promising significant benefits for patients, healthcare providers, and the overall economy.
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Key Drivers of Market Growth:
Several factors are propelling the growth of the pharmacy automation market:
- Rising medication use: The growing prevalence of chronic diseases and an aging population are leading to an increased demand for prescription medications, driving the need for efficient dispensing systems.
- Focus on medication adherence and dispensing accuracy: Pharmacy automation solutions can significantly improve medication dispensing accuracy and adherence, reducing medication errors and improving patient outcomes.
- Labor cost optimization in pharmacies: Automation helps pharmacies streamline dispensing processes, optimize workflow, and reduce labor costs associated with manual dispensing.
- Integration with electronic health records (EHR): Advanced pharmacy automation systems integrate seamlessly with EHR systems, providing pharmacists with real-time patient medication data and promoting better healthcare coordination.
BD Announces Acquisition of Parata, Strengthening Presence in Pharmacy Automation Space:
BD (Becton, Dickinson and Company) continues its strategic expansion with the acquisition of Parata Systems, a move set to propel the company into new realms of growth within the pharmacy automation sector. The acquisition, endorsed by BD chairman, chief executive, and President Tom Polen, underscores the company’s commitment to executing a disciplined M&A strategy to meet evolving healthcare demands.
Tom Polen remarked, “Parata expands BD’s solutions to a new area of the high-growth pharmacy automation space and is a prime example of BD executing our disciplined M&A strategy. Parata has a highly attractive financial profile and compelling value proposition that meets all of our rigorous investment criteria on growth, profitability, and returns. With the addition of Parata, BD further advances our 2025 growth strategy around smart, connected care and enabling new care settings.”
Parata brings to BD a robust financial profile and a compelling value proposition, aligning seamlessly with BD’s investment criteria of growth, profitability, and returns. This strategic acquisition amplifies BD’s position in the pharmacy automation domain, marking a significant step towards achieving its 2025 growth strategy focused on smart, connected care and expanding care settings.
The integration of Parata into BD’s ecosystem promises to enhance the delivery of innovative healthcare solutions to meet the evolving needs of patients and providers alike. Leveraging Parata’s expertise and technology, BD is poised to drive advancements in pharmacy automation, thereby optimizing patient care delivery and streamlining operational efficiency.
BD remains steadfast in its commitment to pioneering solutions that enable smarter, more connected healthcare. The acquisition of Parata underscores BD’s dedication to innovation and growth, further solidifying its position as a global leader in healthcare solutions.
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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
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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