The global pharmacy automation market size is expected to reach USD 10.4 billion by 2030, according to a new study by Polaris Market Research. The report “Pharmacy Automation Market Share, Size, Trends, Industry Analysis Report, By Product (Automated Medication Dispensing, Automated Packaging, Automated Tabletop Counters, and others); By End-Use; By Automation Mode; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing adoption of automated and newly developed robots in the manufacturing process of pharmaceutical industries, continuously rising investments, and a rapid surge in the digitized automated environment are major key factors favoring the market. Furthermore, an increasing number of businesses developing strategies opted by key market players like acquisition, strategic alliances, and new technology developments are also likely to have a positive impact on the adoption of pharmacy automation exponentially in the coming years.
For instance, in February 2022, Capsa Healthcare, US, announced that the company had acquired Humanscale Healthcare, the U.S.-based technology solutions provider and computing workstation services. With this acquisition, the company will expand its capabilities to provide ergonomically tailored computing solutions to several healthcare providers across the globe.
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Furthermore, much faster prescription processing, lower pharmacy costs, and reduced inventory problems are a few other beneficial features and factors which are expected to have a positive impact on the growth and expansion of the global market. The latest products and devices introduced by major manufacturers across the world are highly innovative and come with several types of advanced processing and operating features that have paved the way for the extensive growth and adoption of these systems in hospitals, among others.
The rapid increase in global geriatric population, growing prevalence of several types of chronic disorders, and high hospitalization rates are some factors that resulted in a high burden on hospitals. Thus, the global market will likely witness significant growth over the coming years. Furthermore, a continuously growing number of chain pharmacies and the increasing popularity of artificial intelligence in many well-developed countries across the globe such as Japan, France, Germany, United States, and Canada are augmenting the demand and adoption for automated pharmacy systems extensively.
Pharmacy Automation Market Report Highlights
- Automated medication dispensing segment dominated the market in 2021 owing to the enhanced and developed safety and security offered by these systems, which helps to reduce wrong medications.
- Pharmaceutical segment accounted for significant growth in 2021, mainly attributed to rising adoption of CIP (continuous improvement process) for reducing wastage and improving flexibility.
- Fully-automatic sector is expected to hold a significant market revenue share in 2021 due to an extensive in a number of installations of various automation solutions in several end-use industries like chemicals & materials and oil & gas.
- Asia Pacific is projected to grow at a CAGR of XX% during the forecast period because of the increasing consumer spending capacity in the healthcare sector and rapid growth in the geriatric population coupled with the developed and proper workflow management.
- The global market is moderately fragmented in nature owing to the existence of several large market players such as Becton Dickinson and Company, Omnicell Inc., Baxter International Inc., Capsa Healthcare, Pharmacy Management Solutions, TouchPoint Medical Solutions and others.
Polaris Market Research has segmented the pharmacy automation market report based on product, end-use, automation mode, and region:
Pharmacy Automation, Product Outlook (Revenue – USD Billion, 2018 – 2030)
- Automated Medication Dispensing
- Automated Packaging
- Automated Tabletop Counters
Pharmacy Automation, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)
Pharmacy Automation, Automation Mode Outlook (Revenue – USD Billion, 2018 – 2030)
Pharmacy Automation, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa