Medication Waste Reduction Drives Pharmacy Automation Devices Market Growth, Heading Towards $8.24 Billion by 2027

Dublin, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The "Pharmacy Automation Devices Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The global pharmacy automation devices market is set for substantial expansion, expected to rise from $4.96 billion in 2022 to $5.52 billion in 2023, driven by a robust compound annual growth rate (CAGR) of 11.3%. This growth trend is anticipated to continue, with the market projected to reach $8.24 billion by 2027, supported by a CAGR of 10.6%.

Major Players:

Omnicell Inc.

McKesson Co

Baxter International Inc.

ScriptPro LLC

Becton Dickinson & Company

Cerner Corporation

ARxIUM

Capsa Healthcare

Script Pro

Deenova S.R.L

Swisslog Healthcare

RxSafe LLC

Yuyama Co. Ltd.

Accu Chart Plus Healthcare Systems Inc.

Amerisource Bergen Corp

Talyst LLC

Medacist Solutions Group

Kirby Lester

TouchPoint Medical

Kuka AG (Swisslog Healthcare)

Danaher Corporation

Lonza Group

Reasons to Purchase:

Global Perspective: Access the most comprehensive market report covering 50+ geographies.

COVID-19 Impact: Gain insights into how the market has responded to the pandemic.

Geopolitical Factors: Assess the influence of the Russia-Ukraine war on agriculture, energy, and mineral commodity supply chains, and its indirect effects on the market.

Inflation Impact: Measure the impact of high global inflation on market growth.

Regional Strategies: Formulate regional and country-specific strategies based on local data and analysis.

Investment Opportunities: Identify growth segments for strategic investment.

Competitive Advantage: Outperform competitors with forecast data, market drivers, and trends.

Customer Insights: Understand customer behavior based on the latest market shares.

Benchmarking: Evaluate performance against key competitors.

Presentation Support: Enhance internal and external presentations with reliable high-quality data and analysis.

Pharmacy automation devices streamline the distribution, sorting, packaging, and counting of prescription medications, minimizing the possibility of errors and enhancing direct patient care.

Product Types:

Medication Dispensing Systems

Packaging and Labeling Systems

Storage and Retrieval Systems

Automated Medication Compounding Systems

Tabletop Tablet Counters

These systems cater to various end-users, including retail pharmacies, inpatient pharmacies, outpatient pharmacies, pharmacy benefit management organizations, and mail-order pharmacies.

Market Research Report:

The pharmacy automation devices market research report provides comprehensive statistics, encompassing global market size, regional shares, competitive analysis, detailed market segments, trends, and growth opportunities. It delivers an in-depth analysis of the current and future scenarios within the industry.

Key Technological Trend:

Product innovation is a prominent trend in the pharmacy automation devices market. Major companies are focusing on developing innovative solutions to meet customer demand. For example, Innovative Associates launched the SmartPod and iA Therapy Management Solutions in August 2021 to reduce prescription filling process inefficiencies. SmartPod is a next-generation robot with modularity that enables pharmacy providers to scale their centralized fulfillment solutions to match demand, optimizing patient care.

Strategic Acquisition:

In June 2022, Becton, Dickinson, and Company acquired Parata Systems for $1.5 billion, expanding its presence by introducing robotics technologies that automate pharmacy tasks. This acquisition enhances operational efficiency and medication management.

Regional Highlights:

North America emerged as the largest region in the pharmacy automation devices market in 2022, with Asia-Pacific expected to be the fastest-growing region in the forecast period. Other regions covered include Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa.

Covered Countries:

Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

Rising Medicine Wastage:

The growth of the pharmacy automation devices market is propelled by the rising issue of medicine wastage, including expired, unused, spilled, and contaminated pharmaceuticals. Automated dispensing machines minimize waste by efficiently providing access to medications for emergencies during and after pharmacy hours. This waste reduction increases demand for the market.

Market Value:

The market value represents the revenues generated by enterprises within the specified market and geography, typically denominated in USD.

Key Attributes:

Report Attribute

Details

No. of Pages

200

Forecast Period

2023 - 2027

Estimated Market Value (USD) in 2023

$5.52 billion

Forecasted Market Value (USD) by 2027

$8.24 billion

Compound Annual Growth Rate

10.5%

Regions Covered

Global

Key Topics Covered: 1. Executive Summary2. Pharmacy Automation Devices Market Characteristics3. Pharmacy Automation Devices Market Trends And Strategies4. Pharmacy Automation Devices Market - Macro Economic Scenario4.1. COVID-19 Impact On Pharmacy Automation Devices Market4.2. Ukraine-Russia War Impact On Pharmacy Automation Devices Market4.3. Impact Of High Inflation On Pharmacy Automation Devices Market5. Pharmacy Automation Devices Market Size And Growth5.1. Global Pharmacy Automation Devices Historic Market, 2017-2022, $ Billion5.1.1. Drivers Of The Market5.1.2. Restraints On The Market5.2. Global Pharmacy Automation Devices Forecast Market, 2022-2027F, 2032F, $ Billion5.2.1. Drivers Of The Market5.2.2. Restraints On the Market6. Pharmacy Automation Devices Market Segmentation6.1. Global Pharmacy Automation Devices Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Medication Dispensing Systems

Packaging And Labeling Systems

Storage And Retrieval Systems

Automated Medication Compounding Systems

Tabletop Tablet Counters

6.2. Global Pharmacy Automation Devices Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Retail Pharmacy

Inpatient Pharmacies

Outpatient Pharmacies

Pharmacy Benefit Management Organizations and Mail-Order Pharmacies

7. Pharmacy Automation Devices Market Regional And Country Analysis7.1. Global Pharmacy Automation Devices Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion7.2. Global Pharmacy Automation Devices Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

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