The global Pharmacy Automation Systems Market is projected to reach a value of about US$ 10.6 Billion by 2032, with the market growing at a strong CAGR of 8.0% from 2022 to 2032. Valued at US$ 4.6 Million in 2021, the target market will likely reach US$ 4.9 Billion in 2022.
The elevated usage of the pharmacy automation system in drug dispensing & packaging, drug storage, and inventory management is fueling the market growth of the same. Rising interest in automating the daily operations of pharmacies all over the world is supplementing the growth of the pharmacy automation systems market during the forecast period.
Hospital and retail pharmacies are major contributors to the pharmacy automation systems market. More and more pharmacies across the world are adopting pharmacy automation systems to automate day-to-day activities to reduce human intervention, enhance operational efficiency, and lessen overstocking. These systems are used by both inpatient and outpatient pharmacies.
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Pharmacy automation systems also include properties like the ability to measure personalized medications, track and update consumers’ information in a database, and monitor the all-over procedure of inventory management and distribution. Consequently, they are a suitable replacement for manual dispensing across drugstores. The installation of these systems has immensely improved the efficiency and security of storing, administering, filling, packaging, and labeling prescription medications. These considerations, coupled with other factors like the introduction of cost-effective automation solutions, incorporation of advancing technology into the target product, etc., are likely to drive the growth of the pharmacy automation systems market during the forecast period.
Furthermore, the rising awareness of the benefits of pharmacy automation technologies is encouraging many small and mid-sized healthcare hospitals and retail pharmacies to replace their traditional pharmacy operation practices with these systems. This will boost the market prospects during the next decade.
“Rising awareness of the advantages of pharmacy automation systems along with favorable government policies will supplement the global growth of the pharmacy automation systems market over the forecast period,” says an FMI analyst.
Medication dispensing systems are technology-based solutions designed to improve the efficiency, accuracy, and safety of medication dispensing and management in pharmacies. These systems can include various tools, such as medication dispensing machines, barcoding systems, and electronic health record (EHR) integration.
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Key Takeaways:
- By end user, the hospital pharmacies segment will grow at a high CAGR over the forecast period.
- On the basis of application, drug dispensing and packaging will continue to dominate the global market growth.
- Accounting for 42.6% of the market share in 2021, the medication dispensing cabinets will present a steady growth over the assessment period.
- Germany’s pharmacy automation systems market will register a 7.9% CAGR.
- The pharmacy automation systems market in the U.S. will acquire a 56.6% share of the global market.
- Increasing number of pharmacies drives the target market growth in India.
Competitive Landscape
- AmerisourceBergen Corporation
- Baxter International Inc.
- Swisslog Holdings AG
- Care Fusion Corporation
- Cerner Corporation
- Kirby Lester LLC
- Talyst, LLC.
- Omnicell Inc.
- ScriptPro LLC
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Key Market Segments Covered in Pharmacy Automation Systems Industry Research
By Product:
- Medication Dispensing Cabinets
- Packaging & Labelling Machines
- IV Pharmacy
- Robotic Dispensing Machines
- Carousel Storage
- Tablet Splitters
By Application:
- Drug Dispensing & Packaging
- Drug Storage
- Inventory Management
By End User:
- Hospital Pharmacies
- Clinic Pharmacies
- Retail Pharmacies
- Mail Order Pharmacies
- Pharmaceutical SME’s
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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