Pharmacy Automation Devices Market to Reach US$ 15 billion by 2033, Rising at a CAGR of 10.9% from 2023 to 2033: TMR Report

Automation devices increasingly leverage AI for enhanced decision support and efficient medication dispensation, improving precision.

Wilmington, Delaware, United States, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global pharmacy automation devices market is estimated to flourish at a CAGR of 10.9% from 2023 to 2033. Transparency Market Research projects that the overall sales revenue for pharmacy automation devices is estimated to reach US$ 15 billion by the end of 2033.

An emerging driver in the pharmacy automation devices market centers around decentralized pharmacy models. These models emphasize the implementation of automation in smaller, decentralized pharmacies or community settings. This trend enables remote monitoring, inventory management, and medication dispensing, offering convenient access to essential medications and services, especially in underserved rural areas or regions lacking adequate healthcare infrastructure.

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Decentralized pharmacy models leverage automation technologies to bridge gaps in healthcare access, ensuring efficient medication dispensation and adherence to prescription protocols outside traditional healthcare facilities.

The integration of predictive analytics stands as an underexplored trend. Leveraging machine learning and predictive algorithms, these analytics anticipate medication demand, optimize inventory, and predict patient needs, reducing wastage and ensuring adequate stock availability. This innovative approach aids pharmacies in anticipating patient requirements and enhancing operational efficiency.
The exploration of blockchain technology for pharmaceutical supply chains gains traction. Implementing blockchain ensures transparency, security, and traceability in the medication supply chain, reducing counterfeit drugs, and ensuring medication authenticity, thus bolstering patient safety and confidence in pharmaceutical products.

Pharmacy Automation Devices Market: Competitive Landscape

The pharmacy automation devices market thrives in a competitive landscape led by key players like BD (Becton, Dickinson and Company), Omnicell, and Swisslog Healthcare. These industry leaders innovate with robotics and AI-driven solutions, streamlining medication dispensing and inventory management.

Emerging contenders such as Cerner Corporation and Health Robotics SRL expand the market with advanced pharmacy automation systems. Regional players like ARxIUM and ScriptPro bolster the landscape, offering specialized dispensing technologies and workflow solutions.

This dynamic competition fosters continual advancements in pharmacy automation, catering to evolving healthcare demands for enhanced medication safety, accuracy, and operational efficiency. Some prominent manufacturers are as follows:

  • AmerisourceBergen Corporation
  • Arxium Inc.
  • Baxter International Inc.
  • Becton Dickinson Company
  • Capsa Healthcare
  • CareFusion Corporation
  • Cerner Corporation
  • Emagine Corporation
  • Health Robotics SRL
  • Kirby Lester
  • McKesson Corporation
  • Omillionicell Inc.
  • Accu Chart Plus Healthcare Systems Inc.
  • Pearson Medical Technologies LLC

Key Findings of the Market Report

  • Medication dispensing systems lead the pharmacy automation devices market, emphasizing precise, efficient medication dispensation and inventory management in healthcare.
  • Hospital pharmacy leads the pharmacy automation devices market due to complex medication management needs and emphasis on patient safety measures.
  • North America leads the pharmacy automation devices market due to advanced healthcare infrastructure and high adoption rates of automation technologies.

Pharmacy Automation Devices Market Growth Drivers & Trends

  • Growing concerns drive adoption of automated systems, reducing human errors and enhancing medication safety in healthcare settings.
  • Hospitals and pharmacies seek automation to streamline workflows, improve inventory management, and optimize medication dispensing.
  • Integration of AI, robotics, and IoT in pharmacy automation enhances precision, inventory tracking, and patient-centric services.
  • Stringent regulations prompt adoption of automated systems to meet safety standards, ensuring accurate medication dispensation and record-keeping.
  • Rising telehealth services drive demand for remote medication management, prompting adoption of automated systems for efficient remote pharmacy operations.

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Global Pharmacy Automation Devices Market: Regional Profile

  • In North America, technological advancements and early adoption of pharmacy automation systems drive market dominance. Key players like BD (Becton, Dickinson and Company) and Omnicell offer advanced robotics and software solutions, catering to the regions sophisticated healthcare settings.
  • Europe stands as a hub for innovation with companies like Swisslog Healthcare and ARxIUM leading in pharmacy automation technology. The region prioritizes stringent regulations and emphasis on patient safety, propelling the adoption of automated medication dispensing and inventory management systems.
  • In the Asia Pacific, rapid technological integration augments the pharmacy automation market. Companies like Cerner Corporation and Health Robotics SRL focus on introducing advanced robotics and AI-driven solutions, catering to the region's growing healthcare infrastructure. The market's growth in the Asia Pacific is driven by increasing healthcare investments and the need for efficient medication management in expanding healthcare facilities.

Product Portfolio

  • Cerner Corporation pioneers innovative healthcare technology solutions, offering electronic health records (EHR) and clinical information systems. Their portfolio includes cutting-edge platforms and analytics, empowering healthcare institutions worldwide with advanced tools for efficient patient care and data-driven decision-making.
  • Emagine Corporation specializes in medical imaging solutions, delivering state-of-the-art radiology systems and diagnostic imaging technology. Their portfolio encompasses high-resolution imaging devices, enhancing diagnostic accuracy and imaging efficiency for healthcare providers globally.
  • Health Robotics SRL leads in pharmacy automation, providing cutting-edge robotics and automation solutions for medication compounding. Their portfolio includes advanced systems ensuring precision and safety, optimizing medication management and workflow efficiency in healthcare settings.

Pharmacy Automation Devices Market: Key Segments
By Product Type

  • Medication Dispensing Systems
  • Packaging and Labelling Systems
  • Storage and Retrieval Systems
  • Automated Medication Compounding Systems
  • Tabletop Tablet Counters

By End Use

  • Retail Pharmacy
  • Hospital Pharmacy

By Region

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA

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