$4550
[Research Report] The pharmacy automation systems market size is projected to grow from US$ 11,121.33 million in 2022 to US$ 22,632.12 million by 2030; the market is estimated to record a CAGR of 9.3% during 2022–2030.
Market Insights and Analyst View:
Pharmacy automation entails processes and technologies that automate repetitive tasks and allow pharmacists to focus more on their core competencies and revenue-generating operations. Pharmacy automation provides several benefits to pharmacy owners, including increased accuracy and speed, space savings, narcotics security, and inventory management. Pharmacy automation involves automating four major aspects of pharmacies: data management, medication packaging, medication compounding, and dispensing and storage.
The growing adoption of robotic pharmacies and increasing risk of medication errors fuel the growth of the pharmacy automation systems market. Moreover, technological advancements by the key players are likely to drive the growth of the pharmacy automation systems market in the coming years. In September 2021, Deenova reported winning its first-ever contract in Germany and parallelly established Deenova operations in Europe’s largest GDP healthcare market. This outstanding contract award includes delivery, installation, and full service/support for 3 all-in-1 packaging robots, 34 all-in-1 station medication dispensing robots, and 72 all-in-1 trolleys with secure bed-side verification at Marien Hospital Gelsenkirchen, an operating company in the service network of St. Augustinus Gelsenkirchen GmbH.
Growth Drivers:
Growing Adoption of Robotic Pharmacy Propels Pharmacy Automation Systems Market Growth
In the healthcare sector, automated systems are incorporated into different processes to provide information about stock and inventory, and aid in traceability and streamlined storage. Thus, automation relieves pharmacists from labor-intensive distributive functions and enhances workflow efficiency in pharmacies. Moreover, the adoption of robotics and automated systems is rising in pharmacies in developing regions. In March 2022, Emirates Health Services (EHS) announced the launch of four robotic pharmacies under its robotic pharmacies project. The EHS implemented its project in Abdullah Bin Omran Hospital for Obstetrics & Gynecology, Al Qassimi Hospital, Ibrahim Bin Hamad Obaidullah Hospital, and Al Qassimi Women’s and Children’s Hospital. The organization states that the dispensing systems incorporated in these hospitals are integrated with robots. The launch of robotic pharmacies is also expected to confer customer satisfaction and build their confidence in pharmacy services.
Leading pharmacy automation system vendors continuously focus on developments and introduction of their innovations. In February 2021, Omnicell Inc. announced the launch of its Medimat system. Medimat is a next-generation, automated dispensing system for retail pharmacies. It has been built for improved patient safety, efficient time utilization, and financial savings. In August 2021, innovativeAspirations (iA), a commercial provider of software-enabled pharmacy fulfillment and automation solutions, launched three solutions that are integrated with Medimat’s NEXiA technology to manage the fulfillment of prescribed medicines centrally. iA has also introduced SmartPod, a next-generation robot with a modular autofill unit. SmartPod allows pharmacy providers to adjust and scale their centralized fulfillment solutions. Thus, the growing adoption of robotic pharmacies with the introduction of next-generation automated systems fuels the growth of the pharmacy automation systems market.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Pharmacy Automation Systems Market: Strategic Insights
Akshay
Have a question?
Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Pharmacy Automation Systems Market: Strategic Insights
Akshay
Have a question?
Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Report Segmentation and Scope:
The “Pharmacy Automation Systems Market” is segmented on the basis of type and end user. Based on type, the market is segmented into automated medication dispensing systems, automated packaging and labeling systems, automated table-top counters, automated storage and retrieval systems, and other types. The automated medication dispensing systems segment is subsegmented based on product and operation. Based on product, the pharmacy automation equipment market for automated dispensing systems is subsegmented into robotics automated systems, carousels, and automated dispensing cabinets. Based on operation, the pharmacy automation equipment market for automated dispensing systems is subsegmented into centralized prescription fulfillment and centralized prescription fulfillment. Based on end user, the market is segmented into hospital pharmacy, retail pharmacy, and others.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Segmental Analysis:
Based on type, the pharmacy automation systems market is divided into automated medication dispensing systems, automated packaging and labeling systems, automated table-top counters, automated storage and retrieval systems, and other types. The automated medication dispensing systems segment accounted for the largest share of the market in 2022. It is expected to register a higher CAGR during 2022–2030. The market for automated medication dispensing systems is further divided on the basis of product type and operation. The pharmacy automation systems market for automated dispensing systems, by product type, is subsegmented into robotic automated systems, carousels, and automated dispensing cabinets. Based on operation, the pharmacy automation equipment market for automated dispensing systems is subsegmented into centralized prescription fulfillment and centralized prescription fulfillment.
Pharmacy Automation Systems Market, by Type – 2022 and 2030
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Based on end user, the pharmacy automation systems market is segmented into retail pharmacy, hospital pharmacy, and others. The hospital pharmacy segment held the largest share of the market in 2022. It is expected to register the highest CAGR during 2022–2030. Hospital pharmacies determine the quality and safety of medicines administered to patients in hospitals. Despite such a crucial role, the number of medication errors in these settings is high. ADMs help reduce dispensing errors in pharmacies. Many hospitals (particularly in developed countries) are adopting pharmacy automation systems to ensure accuracy, repeatability, and patient safety. Digitizing processes helps enhance workflows, manage costs, and improve efficiencies, driving better outcomes and allowing hospital facilities to focus mainly on patient care. In March 2020, Swisslog Healthcare, in partnership with PipelineRx and Savioke, launched the Meds-to-Beds program, an initiative to provide outpatient pharmacy services at the time of discharge. The program includes automatic robotic delivery of prescribed medication and consulting to expand pharmacy capacity.
Regional Analysis - Pharmacy Automation Systems Market:
Based on geography, the global bioanalytical testing services market is segmented into five key regions: North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, North America accounted for the largest share of the global pharmacy automation systems market size. Asia Pacific is expected to register the highest CAGR during 2022–2030.
North America holds the largest share of the pharmacy automation systems market. The market in this region is split into the US, Canada, and Mexico. 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 market, expanding the reach of its various pharmacy automation systems to end users such as hospitals, clinics, and ambulatory surgical centers
Industry Developments and Future Opportunities - Pharmacy Automation Systems Market:
Various initiatives taken by leading players operating in the pharmacy automation systems market are listed below:
- In May 2023, ScriptPro received a 2023 Retail Excellence Award–Technology and Automation from Drug Store News (DSN). The DSN, a premier chain and retail industry publication, spotlights pharmacy technology companies striving to do their best for their customers.
- In April 2023, iA, launched NEXiA Enterprise Analytics, its first cloud-based application for NEXiA software for pharmacy fulfillment. NEXiA Enterprise Analytics adds a new intelligence application to iA’s NEXiA software suite, enabling customers to visualize pharmacy operations across multiple fulfillment locations in real time. Enterprise Analytics can help customers identify trends more quickly and aid in delivering prescription drugs to patients with optimal speed and efficiency. NEXiA Enterprise Analytics is the first cloud-based application released within the NEXiA software suite for pharmacy fulfillment.
- In March 2023, Capsa Healthcare expanded its suite of NexsysADC automated dispensing cabinets. NexsysADC can accommodate huge volumes of any controlled or high-value medications or supplies in two new sizes of Controlled Access Module Drawers.
Competitive Landscape and Key Companies - Pharmacy Automation Systems Market:
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 are the prominent pharmacy automation systems market companies. These companies focus on new technologies, existing product advancements, and geographic expansions to meet the growing consumer demand worldwide.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The pharmacy automation systems market is analyzed on the type and end users. Based on type, the market is segmented into automated medication dispensing systems, automated packaging and labelling systems, automated table-top counters, automated storage and retrieval systems, and other types. The automated medication dispensing systems segment held a larger market share in 2022 and the same segment is expected to register a higher CAGR during the 2022–2030.
The growth of the market is attributed to the growing adoption of robotic pharmacies and growing risk of medication errors. However, high capitalization cost requirements and shortcomings of systems are hindering the market growth.
Pharmacy automation is the processes and technology that automate repetitive tasks and prevent pharmacists from being useful in more creativity-intensive tasks. Pharmacy Automation provides several benefits to pharmacy owners, including increased accuracy and speed, space savings, narcotics security, and inventory management. The report covers detailed insights with respect to the services offered by the market players operating in the sector.
The pharmacy automation systems market majorly consists of the 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.
The List of Companies - Pharmacy Automation Systems Market
- 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
- Swisslog Healthcare AG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Pharmacy Automation Systems Market
Sep 2023
Bariatric Surgeries Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type [Adjustable Gastric Bands (AGB), Sleeve Gastrectomy, Gastric Bypass, Biliopancreatic Diversion with Duodenal Switch (BPD-DS), and Others], End User (Hospitals and Ambulatory Surgical Centers), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
Sep 2023
Post-Acute Care Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Service Type (Skilled Nursing Facilities, Inpatient Rehabilitation Facilities, Long-Term Care Hospitals, Home Health Agency, and Others), Age (Elderly, Adult, and Others), Disease Conditions (Amputations, Wound Management, Brain Injury and Spinal Cord Injury, Neurological Disorders, and Others), and Geography
Sep 2023
Lung Cancer Therapy Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Therapy Type (Noninvasive and Minimally Invasive), Indication (Non-Small Cell Lung Cancer and Small Cell Lung Cancer), End User (Hospitals, Oncology Clinics, Research Centers, and Others), and Geography (North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa)
Sep 2023
Coagulation Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Disease Indications (Vitamin K Deficiency, Liver Disease, Disseminated Intravascular Coagulation & Pulmonary Embolism, Development of Circulating Anticoagulants, Hemophilia, Von Willebrand's Disease, and Others), Type [Clinical Laboratory Analyzers (Controls & Calibrators, Assays & Reagents, Instruments/Systems, Coagulation Factors, and Others) and Point-of-Care Testing Analyzers], Offering [Diagnosis (Prothrombin Time Testing, Fibrinogen Testing, Activated Clotting Time Testing, Activated Partial Thromboplastin Time Testing, D-Dimmer Testing, Platelets Function Testing, and Others) and Treatment (Anti-Fibrinolytic Drugs, Birth Control Pills, Desmopressin & Immunosuppressive Medicines, Vitamin K Supplements, Blood Thinners, Thrombin Inhibitors or Thrombolytics, Replacement Therapy, Catheter-Assisted Thrombus Removal, and Others)], Technology (Optical Technology, Mechanical Technology, Electrochemical Technology, and Others), End User (Clinical Laboratories, Hospitals, and Others), and Geography (North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa)
Sep 2023
Pharmacy Automation Systems Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type [Automation Medication Dispensing Systems (Product Type and Operation), Automated Packaging and Labelling Systems, Automated Table-Top Counters, Automated Storage and Retrieval Systems, and Other Types], End User (Hospital Pharmacy, Retail Pharmacy, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
Sep 2023
DNA Extraction, Isolation, and Purification Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Kits, Instruments, and Reagents), Method (Chemical Method and Physical Method), Sample Type (Blood, Body Fluids, and Others), Source (Genomic DNA and Microbial DNA), Application [PCR Test, Next Generation Sequencing (NGS), Microarray, and Others], End User (Hospitals, Diagnostic Centers and Research Laboratories, Pharmaceutical and Biopharmaceutical Companies, Contract Research Organizations, and Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa and South and Central America)
Sep 2023
Molecular Diagnostic for Infectious Diseases Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Point-of-Care Testing and Laboratory Testing), End User [Point-of-Care Testing (Human Testing and Vet Testing) and Laboratory Testing (Human Testing and Vet Testing)], Application [Point-of-Care Testing (Detection of Single Pathogen, Detection of Two or More Pathogens, Evaluation of Emerging Novel Infections, Surveillance and Early Detection of Biothreat Agents and Diseases-Related Biomarker, and Antimicrobial Resistance Profiling) and Laboratory Testing (Patient stratification, Drug Regimen Selection, Toxicity Avoidance, Therapeutic Monitoring, and Detection of Predisposition to Disease)], Disease Type [Point-of-Care Testing (Sepsis, Prosthetic Joint Infection, Endocarditis, STDs, Mononucleosis, Group A Streptococcus, and Others) and Laboratory Testing (Sepsis, Prosthetic Joint infection, Endocarditis, STDs, Chlamydia, Gastrointestinal Infection, Tuberculosis, H1N1 Virus, and Others)], Infection Type [Point-of-Care Testing (Bacteria, Viral, Fungi, and Others) and Laboratory Testing (Bacteria, Viral, Fungi, and Others)], and Geography (North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa)
Sep 2023
Bovine Diagnostics Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Product (Immunoassay Kits, PCR Reagents & Kits, Hemagglutination Inhibition (HI) Assay, and Other Products), Disease Type [Bovine Viral Diarrhea (BVD), Bovine Tuberculosis (TB), Bovine Mastitis, Foot and Mouth Disease (FMD), and Other Disease Types], End User (Veterinary Hospitals, Veterinary Clinics, and Other End Users), and Geography