Pharmacy Automation Systems Market is expected to reach US$ 22,632.12 million by 2030

Aging Population to Offer Opportunities to Pharmacy Automation Systems Market

According to our new research study on "Pharmacy Automation Systems Market Forecast to 2030 – Global Analysis – by Type and End User," the market was valued at US$ 11,121.33 million in 2022 and is expected to reach US$ 22,632.12 million by 2030. It is estimated to register a CAGR of 9.3% during 2022–2030.

The aging population is a key factor propelling advancements in the healthcare sector of any country. Thus, the growing aging population is anticipated to serve vital growth opportunities for the pharmacy. According to the United Nations’s World Population Prospects 2022 report, the elderly population is projected to increase from 10% of the total population in 2022 to 16% of the total population by 2050. The rapidly growing aging population indicates that there will be exponential demand for care and medicines. Older people live with one or more chronic medical conditions, such as arthritis, diabetes, Alzheimer’s, or Parkinson’s; the treatments of these conditions require regular refilling of medicines. Also, there is growth in life expectancy worldwide, leading to the need for more digital and automated systems for adult care contributing to the growing pharmacy automation systems market size.

The development of automatic medicine dispensers has served beneficially in developed regions. Advanced features such as an LED display, a motor controller, and an alarm system help people with medication reminders. Automated pharmacy systems would help them keep track of their medicine and stocks better. Further, the implementation of automated pharmacy systems has been proven to trigger medication adherence in adults. With such features, the adoption of automated pharmacy systems is expected to grow in developing countries such as India, South Korea, China, and Japan in the coming years, which is expected to trigger new pharmacy automation systems market trends in the region.

The pharmacy automation systems market analysis is carried out on the basis of type and end user.

The pharmacy automation systems market, based on type, is classified into automated medication dispensing systems, automated packaging and labeling systems, automated table-top counters, automated storage and retrieval systems, and other types. In 2022, the automated medication dispensing systems segment held the largest pharmacy automation systems market share; it is expected to register the highest CAGR during 2022–2030. The market for automated medication dispensing systems is further segmented on the basis of product type and operation. The automated dispensing systems segment, by product type, is further divided into robotic automated systems, carousels, and automated dispensing cabinets. Based on operation, the market for automated dispensing systems is subsegmented into centralized prescription fulfillment and centralized prescription fulfillment.  

In terms of end user, the pharmacy automation systems market is segmented into hospital pharmacy, retail pharmacy, and others. The hospital pharmacy segment held the largest market share in 2022 and is anticipated to register the highest CAGR during 2022–2030.

Region Analysis – Pharmacy Automation Systems Market

The scope of the global pharmacy automation systems market report entails North America, Europe, Asia Pacific, the Middle East & Africa, and LATAM.

North America held the largest market share in 2022. The growth of the market in the region is attributed to factors such as growing public awareness about automated technologies and rising strategic moves by governments and pharmacy automation system vendors. The US is the largest contributor to the pharmacy automation systems market in North America and the world. Market growth in the US is mainly attributed to the rise in medication errors and a surge in demand for pharmaceutical products. According to the study “Medication Errors,” published in StatPearls in June 2020, medication errors result in 7,000–9,000 deaths annually in the US. Thus, healthcare organizations have increased developments in pharmacy automation systems to avoid medication errors. In July 2023, Capsa Healthcare, one of the US-based players, acquired MASS Medical Storage. The acquisition of MASS Medical Storage provided Capsa with expertise in making medical storage and endoscope cabinet drying systems. Additionally, the acquisition would help strengthen Capsa Healthcare’s position in the global pharmacy automation systems market, expanding the reach of its various pharmacy automation systems to end users such as hospitals, clinics, and ambulatory surgical centers.

Europe holds the second-largest share of the market. The market in this region is split into Germany, the UK, Italy, Spain, France, and the Rest of Europe. The Europe pharmacy automation systems market growth is fueled by the presence of numerous domestic market players and the increasing incidences of chronic diseases. Germany is one of the major contributors to the global pharmacy automation systems market. The country has the presence of many players that develop and manufacture medical devices, along with their accessories required in the healthcare industry. In addition, several medical dispenser manufacturers operate in Germany. For instance, 12,000 BD Row systems developed in Germany by BD are installed worldwide. Similarly, various other players in the country are developing innovative automated pharmacy systems. In June 2021, the French government announced its US$ 7.1 billion (€7.5) billion budget under its Health Innovation Plan. The government plans to redevelop the French economy with Vision France 2030. Upgrading infrastructure would propel the adoption of pharmacy automation systems and solutions in medical facility centers. The UK has been suffering from a high cost of medication errors. In a year, nearly 273 medication errors are reported in the country, costing US$ 79.4 million (£98 million) to the healthcare systems. Similarly, Spain, Italy, Ireland, and the Netherlands show progressive use of innovative medical prescription and dispensing technologies.  

The pharmacy automation systems market in LATAM is segmented into Brazil, Caribbean countries, Argentina, and the Rest of LATAM. In terms of revenue Brazil dominated the pharmacy automation systems market share in 2022. The market has served growth opportunities in Brazil due to growing medical tourism and improving healthcare infrastructure, which is anticipated to increase the adoption of pharmacy automation systems in the region. As the demographic makeup of Caribbean countries is shifting toward a larger older population, the potential of digital automated health systems in providing effective treatments to deal with chronic diseases cannot be exaggerated. In Caribbean countries, noncommunicable diseases (NCDs) are the leading causes of mortality, morbidity, and disability. A Latin American-based pharmacist company, Apotheka America, uses TCGRx as its technology solution partner. Apotheka Group has over 18,000 pharmacies and 1,500 automated systems installed worldwide. Apotheka America and TCGRx partnership will enable them to access the next generation of packaging and adherence automation (ATP), medication imaging, and verification technology (InspectRx), leading to market growth. In addition, the growing number of hospitals will leverage opportunities for various drug companies to enter the market and will create growth opportunities for the pharmacy automation systems manufacturers to collaborate with the hospitals and enhance market growth in the coming years. Thus, such strategies are expected to surge the adoption of pharmacy automated systems across the country and assist the the pharmacy automation systems market growth in the coming years.

The pharmacy automation systems market report profiles leading players such as McKesson Corp, Becton Dickinson and Company, Capsa Solutions LLC, Omnicell Inc, Oracle Corp, Deenova Srl, ScriptPro LLC, Veradigm LLC, Innovation Associates, YUYAMA Manufacturing Co Ltd, and Swisslog Healthcare AG.

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