Pharmacy Automation Market Growth Drivers and Challenges

Pharmacy Automation Market size was valued at USD 6.39 Bn. in 2022 and the total Pharmacy Automation revenue is expected to grow by 8.5 % from 2023 to 2029, reaching nearly USD 9.92 Bn.

Pharmacy Automation Market Report Scope and Research Methodology

Maximize Market Research's report on Pharmacy Automation offers a quantitative analysis of market size, pricing trends, M&A activities, supply chain dynamics, investment opportunities, and expansion strategies adopted by key competitors. Utilizing Porter's five forces framework, the report elucidates how buyer-supplier networks are formed and the consequential impact on profit-centric decision-making. This comprehensive report assesses the current potential of the Pharmacy Automation Market through meticulous analysis and segmentation, offering investors profound insights into the industry's future prospects and the factors that may influence it positively or negatively.

Know More About The Report: https://www.maximizemarketresearch.com/market-report/global-pharmacy-automation-market/83133/

What are Pharmacy Automation Market Dynamics?

Market Drivers

Growing Expenditure on Healthcare Sector: Pharmacy automation, aided by analytics and software integration, is revolutionizing retail pharmacy systems worldwide. It enhances efficiency, profitability, and cost-effectiveness, with substantial reductions in medication waste and improved workflow management. The annual expenditure on prescription and over-the-counter drugs has surged, further propelling the adoption of pharmacy automation systems.

Increasing Need to Reduce Medication Errors: Medication and dispensing errors are major contributors to hospital readmissions globally. Automated systems are recognized as highly effective tools for minimizing these errors, resulting in their widespread adoption.

Market Restraints

High Initial Capital Expenditures: The high initial costs associated with implementing pharmacy automation systems have deterred some healthcare professionals, especially in developing economies. Cultural barriers and reluctance to adopt new technologies have also hindered widespread acceptance.
Pharmacy Automation Market Segmentation:

Based on the product, The industry was dominated by the pharmaceutical dispensing system sector in 2022, which accounted for more than 24.5% of worldwide sales. The large share can be ascribed to the systems' increased safety and precision in medicine distribution, which has led to fewer cases of patients receiving the wrong prescriptions. Additionally, it helps with efficient inventory management and lowers expenses by controlling storage. Patients are given the incorrect prescriptions, which not only puts their health in peril but also has serious financial ramifications. A research that was recently published in StatPearls estimates that drug mistakes cause over 9,000 fatalities annually and cost more than USD 40 billion in patient management each year.

According to the end-use, Based on end users, the sector has been further split into hospital and retail pharmacies. The end-use segment of the worldwide industry with the biggest proportion belonged to retail pharmacies. The sector has a 53.4% market share in 2022. This is a result of a rise of retail pharmacies across a number of nations. On many levels, automation in retail pharmacies is revolutionizing cost reduction. The OECD library reports that pharmacies have become more prevalent in all OECD nations. From 2000 to 2019, Japan has the greatest density due to greater government initiatives.

Request For Free Sample Report: https://www.maximizemarketresearch.com/request-sample/83133

Who are Pharmacy Automation Market Key Players?

• Amerisource Bergen Corp.
• Accu Chart Plus Healthcare Systems, Inc.
• Omnicell, Inc.
• McKesson Co.
• Pearson Medical Technologies LLC
• Baxter International, Inc.
• Talyst LLC
• ScriptPro LLC
• Becton Dickinson & Company
• Medacist
• Kirby Lester
• Cerner Corp.
• iA
• ARxIUM
• TouchPoint Medical
• Deenova SRL
• Parata Systems
• Swisslog Healthcare
• Yuyama
• Capsa Healthcare

Table of Content: Pharmacy Automation Market

Part 01: Executive Summary

Part 02: Scope of the Pharmacy Automation Market Report

Part 03: Global Pharmacy Automation Market Landscape

Part 04: Global Pharmacy Automation Market Sizing

Part 05: Global Pharmacy Automation Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

Get your Sample PDF: https://www.maximizemarketresearch.com/request-sample/83133

Regional Insights:

North America: Dominated the market with over 40.0% of revenue in 2022, driven by an increase in chronic diseases and patient populations. The adoption of automation systems has reduced dispensing errors, improved inventory management, and enhanced patient safety.

Asia-Pacific: Expected to grow at a CAGR of 8.6% during the forecast period, driven by an aging population and rising healthcare costs. Emerging economies in the region are expected to drive demand for pharmacy automation systems.

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

Related Reports:

Global Automotive Brake Booster Market https://www.maximizemarketresearch.com/market-report/global-automotive-brake-booster-market/81607/

Global Automotive Camera Cleaning System Market https://www.maximizemarketresearch.com/market-report/global-automotive-camera-cleaning-system-market/119592/

Global Automotive Connectors Market https://www.maximizemarketresearch.com/market-report/automotive-connectors-market/11106/

Global Automotive Electric Oil Pump Market https://www.maximizemarketresearch.com/market-report/global-automotive-electric-oil-pump-market/35711/

Global Automotive Emission Test Equipment Market https://www.maximizemarketresearch.com/market-report/global-automotive-emission-test-equipment-market/116275/

Global Automotive energy harvesting and regeneration Market https://www.maximizemarketresearch.com/market-report/global-automotive-energy-harvesting-and-regeneration-market/35860/

Global Automotive Human Machine Interface Market (HMI) https://www.maximizemarketresearch.com/market-report/global-automotive-human-machine-interface-market/15447/

Global Automotive Junction Box Market https://www.maximizemarketresearch.com/market-report/global-automotive-junction-box-market/100916/

Global Automotive Leather Market https://www.maximizemarketresearch.com/market-report/global-automotive-leather-market/54794/

Global Automotive LiDAR Sensor Market https://www.maximizemarketresearch.com/market-report/global-automotive-lidar-sensor-market/55721/

Contact Us:

MAXIMIZE MARKET RESEARCH PVT. LTD.
⮝ 444 West Lake Street, Floor 17,
Chicago, IL, 60606, USA.
✆ +1 800 507 4489
✆ +91 9607365656
🖂 sales@maximizemarketresearch.com
🌐 https://www.maximizemarketresearch.com

About Us:
Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.

This release was published on openPR.