TOKYO, June 21, 2022 (GLOBE NEWSWIRE) — The Global pharmacy automation market The size accounted for USD 5,083 million in 2021 and is expected to reach USD 10,402 million by 2030 with a considerable CAGR of 8.6% during the forecast period of 2022 to 2030.
Over the past few years, the pharmacy industry has evolved. He has been at the forefront of public health, often serving as a resource in the health industry. As pharmaceutical products and services evolve, automation has a positive influence on the distribution and management of medications.
Since the 1980s, pharmacy automation has expanded into many categories that improve accuracy and efficiency. Pharmacists used early forms of pharmacy automation, such as electronic pill counters, to reduce risk and labor costs. Nevertheless, these concepts have proven prohibitively expensive for independent pharmacists. Moreover, thanks to current technological advancements and the development of advanced systems, such automation machines are now cheaper and easier to use. Some pharmacy system tasks are time-consuming and prone to human error. Pharmacy automation accomplishes these tasks efficiently and accurately, allowing patients to receive the correct medications faster. With the help of automation, the healthcare system becomes much more feasible. However, pharmacists spend more time with complex patients and preventive services such as vaccinations and clinical tests, such as COVID-19 tests.
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|Market||pharmacy automation market|
|Market size 2021||$5,083 million|
|Market Forecast 2030||$10,402 million|
|CAGR During 2022 – 2030||8.6%|
|Analysis period||2018 – 2030|
|Forecast data||2022 – 2030|
|Segments Covered||By product, by end use, by geography|
|Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Profiled Key Companies||Becton, Dickinson, and Company, ScriptPro LLC, Cerner Corporation, Omnicell, Inc., Capsa Healthcare, Baxter International, Inc., Parata Systems LLC, McKesson Corporation, RxSafe, LLC, Swisslog Healthcare, Talyst Systems, LLC, and ARxIUM Inc.|
|Report cover||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis|
|Scope of customization||10 a.m. free customization and expert advice|
Growth Aspects of Global Pharmacy Automation Market Share
The pharmacy automation market has grown significantly in recent years and is expected to further grow dramatically over the forecast period. Overall, the number of older people has increased. As a result, the number of drugs prescribed for widely recognized and life-threatening disorders is increasing.
In the coming years, the global pharmacy automation market is expected to grow owing to an increased awareness of the benefits of technology. The pharmacy automation market will be driven by the deployment of automation systems in the healthcare sector, such as automated dispensing systems, table counters and preparation systems, labeling systems and packaging and storage and retrieval systems. The increased investment in pharmacy automation is a result of a better understanding of the benefits of using these systems, such as increased productivity and efficiency and lower error rate. Significant advances in technology, along with the growing need to reduce medication errors to meet the needs of an expanding patient population, have increased the demand for the pharmacy automation market. The growing demand for prescription drugs will also have a positive effect on the growth of the market. Also, higher initial investments and shortage of skilled professionals may limit the market growth to some extent.
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Growing need to reduce medication errors is expected to drive demand for pharmacy automation market
Medication errors and medication administration errors pose substantial risks to patients. In the hospital setting, these errors contribute to preventable deaths. Each year, hospital medical errors kill up to 98,000 people, according to the study. This figure exceeds the total number of deaths from AIDS, breast cancer and car accidents combined. Medication errors kill more people each year than workplace accidents. As a result, governments in different countries are increasing the use of automation of medication tools in hospitals and pharmacies to avoid such medication errors. As a result, pharmacy automation systems are gaining popularity.
Regional Overview of Pharmacy Automation Market
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa constitute the regional classification of the global pharmacy automation market. Asia-Pacific is expected to grow at the fastest pace in the automated pharmacy market over the forecast period. Growing need to reduce dispensing errors, decentralization of pharmacy, emerging technologies by major players, and rapid growth of geriatric population in the region are expected to drive the market growth in the region. Pharmaceutical management is essential in developing countries due to rising healthcare costs and growing pressure to improve access to treatment. Additionally, owing to the increasing prevalence of chronic diseases, increasing adoption of latest medical innovations in healthcare facilities, and growing awareness of advancements in medical technology, major market players are focusing on emerging markets such as India and China. In addition, as the number of patients increases, pharmacists in traditional pharmacies face various problems, such as increased medication and clinical errors and longer patient response times. Currently, pharmacists and healthcare professionals are increasingly aware of medication errors and adverse events, which is propelling the Asia-Pacific pharmacy automation market forward.
Pharmacy Automation Market Segmentation
The global pharmacy automation market has been segmented by Acumen Research and Consulting on the basis of product and end user. Based on product, the market is divided into automated drug dispensing systems, automated table counters, automated packaging and labeling systems, automated storage and retrieval systems, automated drug preparation, and others. On the basis of end user, the market has divided into hospital pharmacy and retail pharmacy.
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Pharmacy Automation Market Players
Some key players covered globally in the pharmacy automation industry are Capsa Healthcare, Becton, Dickinson and Company, Cerner Corporation, Omnicell, Inc., Baxter International, Inc., Parata Systems LLC, McKesson Corporation, ScriptPro LLC, RxSafe, LLC, Swisslog Health, Talyst Systems, LLC and ARxIUM Inc.
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Mr. Richard Johnson
Acumen Research and Consulting
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