Dublin, Feb. 14, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific Pharmacy Automation Market by Product Type (Dispensing, Storage - Robotic, Carousel, Cabinet), Packaging & Labelling, Table top, Medication Compounding], End User (Inpatient, Outpatient, Hospital Retail, PBM, Mail-order) & Country - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific pharmacy automation market is projected to reach USD 763 million by 2028 from USD 496 million in 2023, at a CAGR of 9% during the forecast period. The ability to stock the right quantity of medication at the specified location, dispensing the right dosage of medicine, and to increase the overall efficiency of a pharmacy while keeping costs low will provide lucrative opportunities to the market during the forecast period.
The report analyzes the Asia Pacific pharmacy automation market and aims to estimate the market size and future growth potential of various market segments, based on product, end user and country. The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies. The key players operating in the Asia Pacific pharmacy automation market include Becton, Dickinson and Company (BD) (US), Yuyama Co. Ltd/Yuyama Mfg Co. Ltd (Japan), Omnicell, Inc. (US), KUKA AG (Swisslog Healthcare) (Germany), TOSHO Co. Inc. (Japan), Oracle Corporation (US), TouchPoint Medical Solutions (US), Takazono Corporation (Japan), Capsa Healthcare (US), ARxIUM, Inc. (US), McKesson Corporation (US), ATS Corporation (Canada), ScriptPro LLC (US), Hanmi Pharma Co. Ltd. (South Korea), NIHON CHOUZAI Co. Ltd. (Japan), and GETECH (Singapore).
Automated dispensing cabinets (ADCs) segment accounted for a substantial share of the automated medication dispensing and storage systems market, by type in 2022
In 2022, the automated dispensing cabinets (ADCs) segment accounted for a substantial share of the automated medication dispensing and storage systems market, by type. The growth of this segment is attributed to the advantaged offered by these solutions such as computerized storage, dispensing, inventory control, computerized order entry, bar-coded medication administration, and documentation. This provides better medication management, increased medication security, and safety. The combination of medication safety, efficiency, cost-effectiveness, regulatory compliance, and technological advancements has been driving the growth of automated dispensing cabinets in healthcare facilities.
Outpatient/Fast-track clinics segment accounted for a considerable share in the Asia Pacific pharmacy automation market for outpatient pharmacies, by type in 2022
In 2022, the Outpatient/Fast-track clinics segment accounted for a considerable share in the Asia Pacific pharmacy automation market for outpatient pharmacies, by type. The large share of this segment can be attributed to the enhanced medication safety and inventory control and the ability to minimize errors. Moreover, accurate tracking reduces inventory waste, creating significant cost savings in outpatient pharmacy settings. High patient volumes, requiring efficient and streamlined processes to handle prescription orders and medication dispensing, time efficiency, streamlined workflows, space optimization, regulatory compliance, and patient convenience has been driving the growth of pharmacy automation in outpatient and fast-track clinics. These automation systems contribute to improved patient care, operational efficiency, and enhanced patient satisfaction in these healthcare settings.
China to witness the substantial growth rate during the forecast period
The market in China is projected to grow at the highest CAGR during the forecast period. Factors such as growing demand for advanced technologies such as increased adoption of technologies such as artificial intelligence, machine learning, robotics, blockchain fostering the adoption of automated pharmacy systems, government initiatives, policies are bolstering the market in the region. The need for seamless integration of offline as well as online pharmacies, enabling streamlined order processing and fast, accurate delivery, increasing prevalence of chronic diseases such as diabetes, cardiovascular diseases, and respiratory disorders, and urbanization leading to 24x7 access to medication are some of the other factors that have contributed into the growth of the pharmacy automation market in China.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 24 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $496 Million |
| Forecasted Market Value (USD) by 2028 | $763 Million |
| Compound Annual Growth Rate | 9% |
| Regions Covered | Asia Pacific |
Market Dynamics
- Drivers
- Growing Need to Minimize Medication Errors
- Adoption of Decentralized Distribution Models by Pharmacies
- Technological Advancements and Increased Integration in Healthcare Systems
- Growing Investments for Healthcare Infrastructural Development
- Increasing Specialty Drug Dispensing Through Mail and Central-Fill Pharmacies
- Restraints
- Reluctance to Adopt Pharmacy Automation Systems
- High Initial Capital Investments for Pharmacy Automation Systems
- Lack of Skilled Personnel in Emerging Economies
- Opportunities
- Increasing Implementation of Technologically Advanced Automation Solutions Among Pharmacists
- High Growth Opportunities in Emerging Economies
- Implementation of Healthcare Cost-Reduction Measures by Pharmacists
- Challenges
- Stringent Regulatory Procedures by Government Bodies
- Risk of Cross-Contamination in Drug Dispensing Robots in Hospital Pharmacies
Key Industry Trends
- Customizable Drug Dispensing Cabinets
- Pharmacy Robotic Dispensing Machines
- Radiofrequency Identification in Pharmacy Automation
- Electronic Health Record Integration and Interoperability Through Pharmacy Automation Systems
Technology Analysis
- Machine Learning
- Robotics and Artificial Intelligence
- Virtual Control
- Blockchain
Companies Profiled
- ARxIUM
- ATS Corporation
- Becton, Dickinson and Company
- Capsa Healthcare
- GETECH
- Infosys Limited
- JVM Co. Ltd.
- KUKA AG
- McKesson Corporation
- Meditech Pharmacy Management Solutions
- NIHON CHOUZAI Co. Ltd.
- Omnicell, Inc.
- Oracle
- ScriptPro, LLC
- Staubli International AG
- Sysmex Asia-Pacific Pte Ltd.
- Takazono Corporation
- Tension Corporation
- Tosho Inc.
- TouchPoint Medical, Inc.
- Willach Group
- Yuyama Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/aud397
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