Pharmacy Automation Market Analysis

Global Pharmacy Automation Market Overview

Pharmacy Automation Market Size was valued at USD 3.3 Billion in 2022. The Pharmacy Automation Market industry is projected to grow from USD 3.5 Billion in 2023 to USD 6.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.50% during the forecast period (2023 - 2032). Increasing medication dispensing errors, growing prescription volume, need for operational efficiency, regulatory compliance, demand for improved patient care, advancements in technology, cost reduction and return on investment, integration with electronic health records (EHR), are the key market drivers enhancing the market growth.

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Pharmacy Automation Market Trends

• Growing prescription volume is driving the market growth

The rise of the pharmacy automation market is significantly fueled by the rising prescription volume. This tendency is influenced by a number of variables, including demographic changes, improved access to healthcare, and improvements in medical procedures. Pharmacies face the issue of efficiently handling and processing these orders as the quantity of prescriptions increases, which has encouraged the deployment of automation technologies.

The aging population is one of the major factors influencing the increase in prescription volume. People are living longer thanks to breakthroughs in medicine and healthcare, which has increased the number of old people. Elderly people typically require more medical attention and rely more on prescription drugs. As a result, the quantity of prescriptions that pharmacies must fill is increasing.

In addition, access to healthcare services has increased, especially in underdeveloped nations. A larger section of the population now has easier access to healthcare because to government programs, increased insurance coverage, and improved infrastructure. The demand for prescription drugs has increased as a result of the easier availability, thus increasing the number of prescriptions written.

The availability of new medications and improvements in medical procedures have also contributed to the rise in prescriptions. Novel drugs have been created as a result of medical innovations such targeted therapies, immunotherapies, and personalized medicine. The volume of prescriptions for these novel medications has increased as a result of their frequent use in treating chronic illnesses and disorders.

The COVID-19 epidemic has also contributed to the rise in prescriptions. A greater emphasis on healthcare and preventive measures as a result of the pandemic has led to a rise in the number of prescriptions for drugs such vaccines, antivirals, and respiratory aids. Automation technologies have been more quickly adopted by pharmacies to keep up with the increase in demand because they are required to process and distribute these medications efficiently. In order to handle the surge of orders caused by the rising prescription volume, pharmacists encounter operational hurdles. Manual procedures take a long time and are prone to mistakes, which can seriously jeopardize the health and safety of patients. In order to address these issues, pharmacy automation technologies streamline the handling and dispensing of prescriptions.

High prescription quantities can be effectively managed by automation systems, enabling quicker order processing, precise drug delivery, and improved workflow management. These systems use robotics, barcode scanning, and sophisticated software algorithms to automate a variety of processes, including labeling, packaging, pill counting, and prescription verification. Pharmacies can greatly improve their productivity and ability to handle higher prescription volumes by automating these processes.

Automation technologies also assist in lowering medication errors, which is essential for patient safety. Automated methods that assure accurate medicine delivery reduce the danger of human mistake, such as wrong dosages or medication mix-ups. By reducing the need for human error correction, this not only increases patient safety but also conserves time and resources. Systems for automating pharmacy operations help pharmacies cut costs. Pharmacies may maximize their resources and save waste by improving operational effectiveness and lowering errors. Automation simplifies inventory control, lowers medication stock outs, and aids in preventing drug expiration. The quality of care and patient satisfaction will ultimately be improved by automating routine procedures so that pharmacists and pharmacy staff can concentrate more on patient care, medication counseling, and other clinical services. Thus, driving the Pharmacy Automation Market revenue.

Pharmacy Automation Market Segment Insights

Pharmacy Automation Product Type Insights

The Pharmacy Automation Market segmentation, based on Product Type includes Automated Medication Dispensing Systems, Automated Packaging, Labeling Systems, Automated Table-top Counters, Automated Storage, and Retrieval Systems. The automated medication dispensing systems category dominated the market in 2022. Because of the more precise drug distribution and improved safety features of these systems, there is a lower chance that patients may receive the wrong prescriptions. It also helps with effective inventory management and reduces costs by managing storage. Patients who receive the improper medicines run the danger of suffering health problems and incurring significant financial costs.

Pharmacy Automation End User Insights

The Pharmacy Automation Market segmentation, based on end user, includes inpatient pharmacies, outpatient pharmacies, and retail pharmacies. The retail pharmacies category dominated the market in 2022. Automation is changing cost-cutting on several levels in retail pharmacies. In addition, automation is more efficient than human counterparts and simplifies workflow management. Less medication waste results from managing the inventory for these retail pharmacies.

Figure 1 Pharmacy Automation Market, by End User, 2022 & 2032 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Pharmacy Automation Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Pharmacy Automation Market dominated this market in 2022 (45.80%). Advanced technologies including robots, artificial intelligence, and machine learning are widely used in the area and have been incorporated into pharmacy automation systems. Further, the U.S. Pharmacy Automation Market held the largest market share, and the Canada Pharmacy Automation Market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2 PHARMACY AUTOMATION MARKET SHARE BY REGION 2022 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Pharmacy Automation Market accounts for the second-largest market share. Because of the established healthcare infrastructure, strict regulations, expanding adoption of cutting-edge technologies, rising prescription volumes, and emphasis on patient safety and operational effectiveness. Further, the German Pharmacy Automation Market held the largest market share, and the UK Pharmacy Automation Market was the fastest growing market in the European region

The Asia-Pacific Pharmacy Automation Market is expected to grow at the fastest CAGR from 2023 to 2032. This area has been presenting the industry considerable expansion potential because to the massive unmet expectations in terms of advanced healthcare systems and management systems. Moreover, China’s Pharmacy Automation Market held the largest market share, and the Indian Pharmacy Automation Market was the fastest growing market in the Asia-Pacific region.

Pharmacy Automation Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Pharmacy Automation Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Pharmacy Automation industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Pharmacy Automation industry to benefit clients and increase the market sector. In recent years, the Pharmacy Automation industry has offered some of the most significant advantages to medicine. Major players in the Pharmacy Automation Market, including Becton Dickinson and Company, Omnicell Inc., KUKA AG, Baxter International Inc., Capsa Healthcare, Cerner Corporation, Noritsu Pharmacy Automation, Willach Group, Deenova SRL, Staubli International, MedAvail, Meditech Pharmacy Management Solutions, Innovation Associates, TouchPoint Medical Solutions, and Parata Systems LLC, are attempting to increase market demand by investing in research and development operations.

A manufacturer and distributor of medical equipment, reagents, and instruments is Becton Dickinson and Co. (BD). Syringes and pen needles, intravenous catheters, infusion pumps, disposables, automated medication dispensing and supply management systems, pre-fillable drug delivery systems, respiratory ventilation and diagnostic equipment and consumables, items for the secure collection and transportation of diagnostic specimens, instruments and reagent systems to detect a variety of infectious diseases and cancers, and clinical research tools are among its main products. Researchers working in the field of life sciences, hospitals, clinics, the pharmaceutical sector, and the general public can all benefit from BD's products. Throughout addition to Asia-Pacific, the corporation also markets its goods throughout the Americas, Europe, the Middle East, and Africa. BD's US headquarters are in New Jersey.

Healthcare information technology solutions and associated services are provided by Cerner Corp (Oracle Cerner), a division of Oracle Corporation. The company provides a wide array of products and services to meet the clinical, financial, and operational requirements of businesses. Ambulatory, critical care, acute EHR solutions, women's health, customer relationship management, patient engagement, and revenue cycle management are some of its most important solutions. It provides solutions based on the integrated Cerner Millennium architecture and the cloud-based HealtheIntent platform. Implementation and training, remote hosting, revenue cycle services, operational management, analysis of healthcare data, support and maintenance, consultancy, and clinical process optimization are just a few of the services that Cerner provides. It benefits doctors, lab workers, nurses, pharmacists, front- and back-office staff, and customers. The corporation has operations throughout the Americas, Europe, the Middle East, and Asia-Pacific. Oracle the US state of Missouri's North Kansas City is home to Cerner's headquarters.

Key Companies in the Pharmacy Automation Market include

• Becton Dickinson and Company


• Omnicell Inc.


• KUKA AG


• Baxter International Inc.


• Capsa Healthcare


• Cerner Corporation


• Noritsu Pharmacy Automation


• Willach Group


• Deenova SRL


• Staubli International


• MedAvail


• Meditech Pharmacy Management Solutions


• Innovation Associates


• TouchPoint Medical Solutions


• Parata Systems LLC.

Pharmacy Automation Industry Developments

January 2023 The completion of AmerisourceBergen Corporation's acquisition of PharmaLex Holding GmbH was announced. AmerisourceBergen Corporation's growth strategy is strengthened by the purchase of PharmaLex by strengthening its leadership in speciality services and worldwide platform of pharma manufacturer services capabilities.

February 2022 Baxter declared that the Common Vulnerabilities and Exposures (CVE) program has given it permission to act as a CVE Numbering Authority.

Pharmacy Automation Market Segmentation

Pharmacy Automation Product Type Outlook

• Automated Medication Dispensing Systems


• Automated Packaging


• Labeling Systems


• Automated Table-top Counters


• Automated Storage


• Retrieval Systems

Pharmacy Automation End User Outlook

• Inpatient Pharmacies


• Outpatient Pharmacies


• Retail Pharmacies

Pharmacy Automation Regional Outlook

• North America
  
  
  
  • US.
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America