Dublin, April 03, 2024 (GLOBE NEWSWIRE) -- The "Pharmacy Automation: Technologies and Global Markets" report has been added to ResearchAndMarkets.com's offering.
The Global Pharmacy Automation Market was valued at USD 7.8 Billion in 2023, and is expected to reach USD 12.7 Billion by 2028, rising at a CAGR of 10.20%.
This report is designed to be a helpful business tool that will provide a thorough evaluation of the global pharmacy automation market. Definitive and detailed estimates and forecasts of the global market are provided, followed by a detailed analysis of segments and regions. In this report, the market has been segmented based on product type, application and region.
Automation has become increasingly important in various industries, including pharmacy. By automating tasks and processes, pharmacies can improve accuracy, efficiency and inventory management. Called "pharmacy automation," this technology helps to reduce errors and streamline the entire workflow, from prescription intake to medication dispensing.
Technological Advancements and Applications
The use of technologies such as artificial intelligence (AI), the internet of things (IoT), Bluetooth and cloud computing is becoming more important in the field of pharmacy. These technologies allow for the transmission of data between digital devices, and they can be used in drug discovery, computer programs, dosage form design, poly-pharmacology and hospital pharmacy.
AI programs and IoT devices can help pharmacists with such tasks as monitoring medication adherence and predicting demand for specific medications. The use of RFID tags, barcodes and biometrics in pharmacy automation equipment has also increased, making processes more efficient and customizable. Drug-dispensing cabinets are now commonly used in outpatient and inpatient pharmacies.
Market Dynamics and Growth Factors
Growth is driven by such factors as rising prescription volumes, demand for automated packaging and labeling solutions, and the continuous need to reduce medication errors. Increasing global healthcare expenditures are also boosting the pharmacy automation market growth.
Report Includes
- 34 data tables and 76 additional tables
- An overview of the global market and technologies for pharmacy automation
- In-depth analysis of global market trends, featuring historical revenue data for 2022, estimated figures for 2023, as well as forecasts for 2024 and 2028. This analysis includes projections of Compound Annual Growth Rates (CAGRs) spanning through 2028
- Evaluation of the current market size and revenue growth prospects specific to pharmacy automation, accompanied by a comprehensive market share analysis categorized by product type, application, and geographical region
- Discussion on advantages of automation in the pharmacy, including increasing efficiency, lowering labor costs, and enhancing accuracy and speed, space savings, narcotics security, and inventory management
- A look at the advancements in the pharmacy automation technologies and coverage of innovation, technological advancements, and the launch of novel products from market players
- Detailed analysis of the regulatory framework and policies and product pipeline of the industry, and discussion on ESG challenges and ESG practices in the pharmaceutical industry
- Market share analysis of the key companies of the industry and coverage of their proprietary technologies, strategic alliances, and other key market strategies and a relevant patent analysis
- Company profiles of major players within the industry, including BD, Baxter, Omnicell, and KUKA AG
Company Profiles
- Arxium
- Baxter
- BD
- Capsa Healthcare
- Kuka Ag
- Precision Products Group
- Manrex Ltd.
- Medical Packaging Inc. Llc
- Omnicell Inc.
- Oracle
- Rxsafe Llc
- Scriptpro Llc
- Walgreens Boots Alliance Inc.
- Yuyama Co. Ltd
- Other Diversified Players
- Getech
- Mckesson Corp.
- Meditech Pharma
- Noritsu
- Synergy Medical
- Touchpoint Medical
- Willach U.K. Ltd
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 157 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $7.8 Billion |
| Forecasted Market Value (USD) by 2028 | $12.7 Billion |
| Compound Annual Growth Rate | 10.2% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Executive Summary
- Market Summary
- Scope of Report
- Market Highlights
Chapter 2 Market Overview
- Macro-Economic Factors Analysis
- Global Economic Conditions
- Global Population Growth
- Rising Number of Chronic Diseases
- Post-COVID-19 Impact on the Pharmacy Automation Market
- Impact of Russia-Ukraine War
Chapter 3 Market Dynamics
- Market Drivers
- Rising Prescription Volumes in Pharmacies
- Surge in Demand for Automated Packaging and Labeling Solutions
- Continuous Need to Reduce Medicine Errors
- Market Challenges
- Stringent Regulatory Challenges
- Market Opportunities
- Growing Demand for Prescription Data Management Solutions
- Shrinking Operating Budgets and Must Provide Outstanding Customer Service
- Rising Awareness Among Pharmacists' Regarding Pharmacy Automation Solutions
- Growth Opportunities in Emerging Economies
Chapter 4 Emerging Technologies and Developments
- Key Emerging Trends and Technologies
- Integration of Artificial Intelligence and Robot Processing Automation Technology
- Automated Telepharmacy and Remote Dispensing
- Blockchain
- Patent Analysis
- Patent Review by Year
- Latest Granted Patents
Chapter 5 Market Segmentation Analysis
- Segmentation Breakdown
- Market Breakdown by Product Type
- Dispensing/Storage Equipment
- Packaging/Labeling Equipment
- Software/Logistics Products
- Other Products
- Market Breakdown by Application
- Industry Structure: Type and Application
- Inpatient Pharmacy Automation
- Outpatient Pharmacy Automation
- Geographic Breakdown
- Market Breakdown by Region
- Global Analysis: Regions and Application
- U.S.
- Developed Europe
- Emerging Europe
- Asia-Pacific
- Other Regions/Rest of World
Chapter 6 Competitive Intelligence
- Overview
- Market Shares Analysis
- Strategic Analysis
Chapter 7 Sustainability in Pharmacy Automation Industry: ESG Perspective
- Overview
- ESG Performance in Pharmacy Automation Market
- Environmental Impact
- Social Responsibility
- Governance
- Current Status of ESG in the Pharmacy Automation Market
- Concluding Remarks
Chapter 8 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/oeje8e
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