Pharmacy automation Market, By Product Type (Automated Medication Dispensing System, Automated Storage & Retrieval System, Automated Packaging & Labeling System, Tabletop Tablet Counters, and Automated Compounding Devices), By End User (Retail Pharmacy, Hospital Pharmacy, and Others), By Region – Global Analysis Forecast Till 2030

The Global Pharmacy automation Market size was valued at USD 5001 million in 2021 to 11211 million in 2030 and is projected to grow at a compound annual growth rate (CAGR) of 9.91% during the forecast period.

Globally, the retail pharmacy system is evolving due to the use of pharmacy automation devices, analytics, and software. Automation has increased both the industry's profitability and efficiency by a factor of ten. Since less medication is being wasted thanks to automation, per-dose prices have fallen. Additionally, it has made it possible for pharmacists to easily manage workflow while putting a stronger emphasis on patient happiness. In recent years, annual spending on prescription and over-the-counter medications has skyrocketed.

To automatically direct and fit drugs, a pharmacy automation framework is used. The market for pharmacy automation systems is driven by a vision of zero errors in retail pharmacies, advantages of pharmacy automation in industrial pharmacies over human drug delivery, and the mobility of more advanced parts.

Pharmacy automation has revolutionized the healthcare industry, streamlined processes and enhanced patient care. With the introduction of pharmacy robots and dispensing machines, the efficiency and accuracy of medication supply have reached new heights. These advanced systems, such as pharmacy automation supply and pharmacy automation systems, work hand in hand with pharmacy professionals to ensure seamless operations. The pharmacy robot dispenser, equipped with cutting-edge technology, handles the dispensing process with precision, reducing errors and freeing up valuable time for pharmacists to focus on patient consultations and other critical tasks. This integration of automation in pharmacies has greatly improved medication management, enhancing patient safety and overall healthcare experience.

Market Dynamics

Drivers:

Globally, readmissions to hospitals are known to occur most frequently as a result of medication and distribution problems. Medication errors frequently occur during the manufacture, distribution, or administration of medications due to a variety of circumstances, including inadequate order communication between doctors and pharmacists, unsafe pharmacy storage procedures, and confusion caused by identical labels and prescriptions. The most effective way to reduce these errors is thought to be through automated methods. In the past, hospitals with successful automated dispensing cabinets (ADCs) and automated dispensing machines (ADMs) saw a considerable drop in the number of dispensing and medication errors.

Restraints:

Although IT-based approaches to pharmacy administration have many advantages, some healthcare professionals and providers are hesitant to adopt or accept them. This is especially clear when there are cultural obstacles present, especially in developing economies. Because of this, a lot of pharmacists are reluctant to use pharmacy automation systems as part of their dispensing routine and do not want assistance. Even though automated pharmacy systems have many advantages, as seen by the widespread adoption of technology, only high-volume pharmacies and hospitals have historically been able to demonstrate the returns on investment (ROIs) received from putting these automated systems in place.

Opportunity:

The pharmacy automation market is predicted to expand most rapidly in emerging economies. There is a large elderly population in developing nations. The number of elderly people is predicted to double in Eastern and South-eastern Asia by 2050, rising from XX million in 2019 to over 578.2 million. This prediction comes from the UN report on World Population Ageing (2019).

In various Asian countries, the patient volume is anticipated to rise due to this demographic trend, which would also raise demand for high-quality patient care and effective drug administration. Because of this, it is anticipated that in the upcoming years, more Asian nations would demand pharmacy automation systems.

Key players:

• General Electric Company,

• Siemens AG,

• Swisslog Holding AG,

• Koninklijke Philips N.V.,

• Medtronic Plc,

• Intutive Surgical, Inc.,

• Stryker Corporation,

• Danaher Corporation,

• Tecan Group Ltd.,

• AccurayInc.

• And Others

Market Segmentation:

Pharmacy automation Market, By Product

• IgG,

• IgA,

• IgM,

• IgE,

• and IgD

Pharmacy automation Market, By Mode of delivery- 

• Intravenous,

• And Subcutaneous

Pharmacy automation Market, By Geography

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

• Asia-Pacific

  • China

  • India

  • Japan

  • South Korea

  • Malaysia

  • Philippines

• Latin America

  • Brazil

  • Rest of Latin America

• Middle East & Africa (MEA)

  • GCC

  • North Africa

  • South Africa

  • Rest of the Middle East & Africa

Regional Analysis:

North America dominated the industry in 2021, accounting for the largest share, accounting for more than XX% of total sales. Developed healthcare systems, advancements in patient care and hospital management systems are some of the major drivers of growth in the region. According to an article published in Drug Store News, 48% of pharmacists and 66% of prescribers said their use of automation and other technologies has increased over the past year and a half.

Many technology providers are saying that pharmacy automation and technology adoption are the future, growth fueled by the COVID-19 pandemic. Additionally, the presence of major pharmacy chains and large patient numbers are driving the growth of the regional Pharmacy automation Market. The need to minimize pharmaceutical waste and reduce costs is also fueling growth in the region.

Scope of the Report:

User

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