Pharmacy Automation Market to Reach $10,337.7 Million By 2030 | P&S Intelligence

In 2022, the pharmacy automation market was worth around USD 5,782.1 Million, and it is projected to advance at a 7.5% CAGR from 2022 to 2030, hitting USD 10,337.7 Million in 2030.

The whole healthcare sector is under a huge burden because of a surge in the number of wounds and fatalities instigated by faults in medicinal prescriptions. Healthcare and Pharmacology providers both are demanding for more-accurate and -effective technologies, to shorten such errors.

The industry is projected to develop more quickly in developing countries, mainly because of the increasing aging population.

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As per WHO, by 2030 one in every six individuals on the soil will be 60 years or older. presently, there are 1.4 billion individuals aged 60, up from 1 billion in 2020. The number of people thought out the world who are aged 60 or above will double by 2050.

In several nations in APAC, this move in the demographic is projected to boost the populace of patients and the necessity for more-effective patient care through effective drug distribution. Because of this, numerous Asian countries are demanding robotic pharmacy operations.

The major reason for hospital readmissions globally is acknowledged to be drug-associated errors and distribution issues. During the administration, production, and distribution of pharmaceuticals, the mix-up caused by prescriptions and identical labels, insecure drug storage methods, and poor order of communication between medics and druggists is some of the main contributors to medicine errors.

One of the most-efficient methods to lessen such errors is via automated systems. In the past few years, automated dispensing machines and automated dispensing cabinets have positively lessened the number of medication administration mistakes in hospitals.

Top Pharmacy Automation System Providers Are:
• Omnicell Inc.
• McKesson Corporation
• Pearson Medical Technologies LLC
• Baxter International Inc.
• Swisslog Healthcare
• ScriptPro LLC
• Becton, Dickinson & Company
• Capsa Healthcare
• Cerner Corporation

North America, generated the largest revenue share, of above 50%, in 2022. This can be ascribed to its well-known healthcare system, developments in patient management practices, the introduction of enhanced practice management systems, and the existence of key companies.

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Additionally, the pandemic has boosted the growth of the industry as per several technology distributors, who are also focusing on pharmacy automation in the coming years.

Moreover, the regional industry has been escalating because of the presence of noteworthy drugstore chains and greater patient volumes. Similarly, the snowballing expenditure in R&D is supporting the expansion of the market, to reduce drug waste and costs.

Annually, over 100,000 assumed drug blunders are informed in the U.S.; they are one of the main reasons for demises in this continent.

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Furthermore, Europe holds a substantial share as well. This can be ascribed to the thriving aged populace, rising occurrence of chronic circumstances, and high investment on the medical infrastructure in the region.

Hence, the pharmacy automation industry is driven by the rising frequency of medication errors and growing elderly population.

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