The global pharmacy automation market size was USD 5.4 Billion in 2022 and is expected to register a revenue CAGR of 9% over the forecast period, according to the latest report by Reports and Data.
Due to the rising frequency of chronic diseases including diabetes, cancer, and cardiovascular ailments, there is a greater burden on healthcare providers. Healthcare organizations are increasingly relying on pharmacy automation technology to reduce pharmaceutical mistakes, relieve load, and improve patient outcomes. The rising propensity for self-medication and the simpler accessibility to over-the-counter medications are further factors driving the demand for pharmacy automation systems.
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Some of the prominent players profiled in the global pharmacy automation market include McKesson Corporation, Omnicell, Inc., Cerner Corporation, Swisslog Holdings AG, ScriptPro LLC, Capsa Healthcare, Aesynt Incorporated (McKesson Corporation), Parata Systems, LLC, ARxIUM, and Talyst, LLC
Some Key Highlights from the Report
- In 2022, the pharmaceutical dispensing systems segment had the highest revenue share. In pharmacies, automated machines known as medication distribution systems are used to provide drugs to patients. These technologies eliminate the need for labor-intensive, error-prone manual dispensing. They also reduce the likelihood of medication mistakes since they can ensure that patients receive the correct dose and medicine. Furthermore, by adopting pharmaceutical distribution machines, pharmacists have more time to dedicate to patient counselling and other responsibilities. These systems can also save patient information and prescription histories, making it easier to manage and monitor medication adherence.
- The retail segment is anticipated to have the fastest revenue growth throughout the projection period. The segment is expected to grow as a result of retail pharmacies' increasing requirement for drug dispensing systems. These solutions may be used by retail pharmacies to boost output, cut down on errors, and enhance patient security. Automation may help retail pharmacies manage their inventories, making it easier to keep track of drug consumption and make sure that customers always have access to their prescriptions.
- The North American market is anticipated to account for the greatest revenue share throughout the projected period due to the widespread use of several novel technologies and the need for more efficiency and accuracy in pharmacy operations. The United States is predicted to dominate the market because to its highly established healthcare infrastructure, government initiatives to improve patient care, and necessity to reduce prescription mistakes. There is a growing demand for pharmacy automation as the population ages, chronic illnesses are more common, and there are more retail pharmacies. Robotic systems, barcoding systems, and automated storage and retrieval systems will all be integrated into the pharmacy automation industry, which is anticipated to expand in revenue.
- On April 3, 2017, the leading supplier of electronic prior authorization solutions, CoverMyMeds, finalized the purchase of its technology company by McKesson Corporation. The acquisition was made with the intention of boosting McKesson's electronic prior authorization capabilities and broadening its technological offerings.
- Omnicell, Inc. introduced the XR2 Automated Central Pharmacy System on November 30, 2027, with the goal of streamlining pharmacy operations and improving inventory control.
- The MedSelect Flex automated dispensing system, a modular solution created to enhance medication administration in hospitals and pharmacies, was introduced by ARxIUM on November 1st, 2018.
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For the purpose of this report, Reports and Data has segmented the global pharmacy automation market on the basis of Product Outlook, End-use Outlook, and Regional Outlook:
Product Outlook (Revenue, USD Billion; 2022 - 2032)
- Medication Dispensing Systems
- Robots/Robotic Automated Dispensing Systems
- Corousels
- Automated Dispensing Cabinets
- Packaging and Labeling Systems
- Storage & Retrieval Systems
- Automated Medication Compounding Systems
- Tabletop Table Counters
End-use Outlook (Revenue, USD Billion; 2022 - 2032)
- Retail Pharmacy
- Impatient Pharmacies
- Outpatient Pharmacies
- Pharmacy Benefit Management Organizations and Mail-Order Pharmacies
Regional Outlook (Revenue, USD Billion; 2022-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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