Dublin, July 15, 2022 (GLOBE NEWSWIRE) -- The "Asia Pacific Pharmacy Automation Market by Product (Automated Medication Dispensing & Storage Systems, Automated Table-Top Counters, Medication Compounding), End User (Inpatient Pharmacies, Outpatient Pharmacies, Retail Pharmacies) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific pharmacy automation market is projected to reach USD 725 million by 2027 from USD 453 million in 2022, at a CAGR of 9.8% during the forecast period.
The growth in this market is attributed to the rapid decentralization of pharmacies, growing geriatric population to increased adoption of automated dispensing systems, and growing investments for healthcare infrastructure development. However, the stringent regulations that delay product launches retrain the growth of this market.
Based on product, the automated medication dispensing and storage systems segment holds the largest market share in 2021
Based on products, the Asia Pacific pharmacy automation market is segmented into automated medication dispensing and storage systems, automated packaging and labeling systems, automated tabletop counters, automated medication compounding systems, and other pharmacy automation systems. In 2021, the automated medication dispensing and storage systems segment accounted for the largest share of this market, primarily due to the increasing occurrence of medication errors and the implementation of stringent regulatory guidelines for patient safety and medication dispensing across regions. Automated medication dispensing and storage systems allow the care providers to dispense medication faster and more accurately with the help of in-built advanced features that allow medication storage, picking, dispensing, and labelling.
Based on type, the automated medication dispensing cabinets (ADC) segment accounted for the largest share of the automated medication dispensing and storage market
Based on type, the automated medication dispensing and storage systems market is segmented into robots/robotic automated dispensing systems, carousels, and automated dispensing cabinets (ADCs). In 2021, automated medication dispensing cabinets accounted for the largest share of this market. These systems helps in the safer administration of drugs and increases process efficiency and also enable the effective and economical utilization of professional resources available within a healthcare facility.
The retail pharmacies end-user segment is expected to register the highest CAGR during the forecast period
Based on end users, the Asia Pacific pharmacy automation market is segmented into inpatient pharmacies, outpatient pharmacies, retail pharmacies, and pharmacy benefit management organizations and mail-order pharmacies. The retail pharmacies segment is expected to register the highest growth during the forecast period. This is mainly due to the growing need to incorporate automated solutions in order to achieve faster workflow and maintain record accuracy. Pharmacy automation systems and solutions help in integrating and managing the entire pharmacy inventory and supply workflows. Moreover, these solutions also assist the pharmacists in maintaining dispensed medication records and faster prescription filling, thereby making the workflow for accurate and limiting the chances of errors.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Asia-Pacific Pharmacy Automation Market Overview
4.2 Asia-Pacific Pharmacy Automation Market, by Product and Country (2021)
4.3 Asia-Pacific Pharmacy Automation Market: Geographic Growth Opportunities
4.4 Asia-Pacific Pharmacy Automation Market, by Country (2020-2027)
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Need to Minimize Medication Errors
5.2.1.2 Decentralization of Pharmacies
5.2.1.3 Rising Geriatric Population Leading to Increased Adoption of Automated Dispensing Systems
5.2.1.4 Growing Investments for Healthcare Infrastructural Development
5.2.1.5 Increasing Specialty Drug Dispensing
5.2.2 Restraints
5.2.2.1 Reluctance to Adopt Pharmacy Automation Systems
5.2.2.2 High Initial Capital Investments
5.2.2.3 Lack of Skilled Personnel
5.2.3 Opportunities
5.2.3.1 Increasing Awareness Among Pharmacists
5.2.3.2 High Growth Opportunities in Emerging Markets
5.2.3.3 Healthcare Cost-Reduction Measures
5.2.4 Challenges
5.2.4.1 Stringent Regulatory Procedures
5.2.4.2 Risk of Cross-Contamination
5.3 Industry Trends
5.3.1 Customizable Drug Dispensing Cabinets
5.3.2 Pharmacy Robotics
5.3.3 Radiofrequency Identification (Rfid) in Pharmacy Automation
5.3.4 Electronic Health Record Integration and Interoperability Through Pharmacy Automation Systems
5.4 Key Conferences & Events
5.5 Porter's Five Forces Analysis
5.6 Regulatory Bodies, Government Agencies, and Other Organizations
5.7 Regulatory Analysis
5.7.1 India
5.7.2 Australia
5.7.3 Japan
5.7.4 China
5.8 Value Chain Analysis
5.9 Technology Analysis
5.10 Patent Analysis
5.10.1 Patent Publication Trends for Pharmacy Automation Systems in Asia-Pacific
5.10.2 Insights: Jurisdiction and Top Applicant Analysis
5.11 Ecosystem Analysis
5.12 Impact of COVID-19 on the Asia-Pacific Pharmacy Automation Market
6 Asia-Pacific Pharmacy Automation Market, by Product
6.1 Introduction
6.2 Automated Medication Dispensing and Storage Systems
6.2.1 Automated Medication Dispensing and Storage Systems, by Type
6.2.1.1 Robots/Robotic Automated Dispensing Systems
6.2.1.1.1 Growing Need to Curtail Healthcare Costs Associated with Medication Errors Will Drive Market Growth
6.2.1.2 Carousels
6.2.1.2.1 Growing Need to Improve Patient Safety and Automate Pharmacy Inventory Workflows to Support the Demand for Carousels
6.2.1.3 Automated Dispensing Cabinets
6.2.1.3.1 Rising Cases of Medication Errors to Drive the Demand for Adcs
6.2.2 Automated Medication Dispensing and Storage Systems, by Application/Operation
6.2.2.1 Centralized Pharmacies
6.2.2.1.1 Rising Demand for Centralized Pharmacies to Optimize Inventories, Workflows, and Patient Safety to Drive Market
6.2.2.2 Decentralized Pharmacies
6.2.2.2.1 Need for Faster and More Accurate Medication Dispensing to Drive Market Growth
6.3 Automated Packaging and Labeling Systems
6.3.1 Need to Improve Medication Dispensing Accuracy and Reduce the Cost Associated with Time and Labor to Drive the Market
6.4 Automated Tabletop Counters
6.4.1 Increasing Number of Patient Visits and Growing Demand for Prescription Medications Propel Growth in this Market Segment
6.5 Automated Medication Compounding Systems
6.5.1 Automated Medication Compounding Systems Reduce the Cost Per Dose of Medication and the Need for Medication Outsourcing
6.6 Other Pharmacy Automation Systems
7 Asia-Pacific Pharmacy Automation Market, by End-user
7.1 Introduction
7.2 Inpatient Pharmacies
7.2.1 Acute Care Systems
7.2.1.1 Growing Investments to Improve Acute Care Service Quality to Drive Growth in this Market
7.2.2 Long-Term Care Facilities
7.2.2.1 Increasing Patient Admissions in Long-Term Care Facilities to Lead to Higher Demand for Healthcare Technology Solutions
7.3 Outpatient Pharmacies
7.3.1 Outpatient/Fast-Track Clinics
7.3.1.1 Growing Need to Automate Medication Dispensing to Reduce Medication Errors Will Support Market Growth
7.3.2 Hospital Retail Settings
7.3.2.1 Need for Accurate Medication Dispensing and Faster Inventory Management to Drive Market Growth
7.4 Retail Pharmacies
7.4.1 Growing Need for Pharmacy Automation Systems to Assist with Faster Prescription Filling and Medication Dispensing to Drive Market Growth
7.5 Pharmacy Benefit Management Organizations and Mail-Order Pharmacies
7.5.1 Need to Reduce Labor Costs Associated with Medication Packaging and Supply to Drive Market Growth
8 Asia-Pacific Pharmacy Automation Market, by Country
8.1 Introduction
8.2 Australia
8.2.1 Advanced Medical Infrastructure and Increasing Healthcare Expenditure to Drive Market Growth in Australia
8.3 Japan
8.3.1 Large Geriatric Population in the Country Drives the Demand for Pharmacy Automated Systems
8.4 China
8.4.1 Growing Investments in Healthcare Infrastructure Development in China to Support the Growth of the Market
8.5 India
8.5.1 Improving Healthcare Infrastructure Will Boost the Demand for Pharmacy Automation Systems in India
8.6 South Korea
8.6.1 Rapidly Increasing Geriatric Population and Increasing COVID-19 Cases Will Drive Market Growth in South Korea
8.7 Singapore
8.7.1 Improving Healthcare Infrastructure and Increasing Adoption of Automated Systems to Support Market Growth
8.8 Thailand
8.8.1 Rising Adoption of Automated Systems in the Healthcare Sector to Drive Market Growth in Thailand
8.9 Rest of Asia-Pacific
9 Competitive Landscape
9.1 Overview
9.2 Key Player Strategies/Right to Win
9.3 Key Stakeholders & Buying Criteria
9.3.1 Key Stakeholders in the Buying Process
9.3.2 Buying Criteria
9.4 Revenue Share Analysis of the Top Market Players
9.5 Market Share Analysis
9.6 Competitive Benchmarking
9.7 Company Footprint
9.7.1 Product Footprint
9.7.2 End-User Footprint
9.8 Company Evaluation Quadrant
9.8.1 Stars
9.8.2 Emerging Leaders
9.8.3 Pervasive Players
9.8.4 Participants
9.9 Competitive Scenario
9.9.1 Product Launches/Enhancements
9.9.2 Deals
9.9.3 Other Developments
10 Company Profiles
10.1 Key Players
10.1.1 Beckton, Dickinson and Company
10.1.2 Yuyama Co., Ltd./Yuyama Mfg Co., Ltd.
10.1.3 Omnicell, Inc.
10.1.4 Kuka Aktiengesellschaft (Swisslog Healthcare)
10.1.5 Tosho Co, Inc.
10.1.6 Cerner Corporation
10.1.7 Touchpoint Medical Solutions
10.1.8 Takazono Corporation
10.1.9 Capsa Healthcare
10.1.10 Arxium, Inc.
10.1.11 Scriptpro, LLC
10.1.12 Tension Corporation
10.1.13 Meditech Pharmacy Management Solutions
10.1.14 Willach Group
10.1.15 Staubli International: Company Overview
11 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/bavhlx
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