Pharmacy Automation Devices Market Share, Trends, Future Outlook, Analysis and Forecast 2023-2030

The global pharmacy automation devices market is anticipated to grow at a CAGR of 11.1% during the forecast period (2023-2030). The adoption of automated systems in healthcare can minimize the occurrence of errors, increase efficiency, reduce the time required to have validated medication, and facilitate the accessibility of medicines in healthcare that drive the growth of pharmacy automation devices. The rise in the number of prescriptions is driving demand for automation technology to help reduce medication errors and enable faster prescription dispensing. Errors related to medications can directly impact the health of patients and the institutional processes of care provided, including the occurrence of negative clinical outcomes and an increase in the length of hospital stay. According to the National Institute of Health (NIH), in June 2022, Medication errors caused 1 out of every 131 outpatient deaths and 1 out of every 854 inpatient deaths additionally, Inpatient medication error rates are between 4.8% and 5.3%, with annual costs for European healthcare systems of at least $4.7 billion.

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As chronic illness continues to rise, patients often need access to these complex specialty medications to prevent rehospitalization and maintain health outcomes. For instance, in October 2022, Omnicell, Inc., a provider of medication management and adherence tools for health systems and pharmacies, launched Specialty Pharmacy Services, a turnkey offering with dedicated services to set up, operate, and optimize a specialty pharmacy program. Omnicell launched specialty pharmacy services to support optimized outpatient medication management and drive clinical and business outcomes for health systems.
To help defend against cyber threats, market player designed to communicate with file servers using validated digital security certificates. Doing so creates a more secure connection and encrypts data in transit and at rest to help safeguard the device. For instance, in December 2022, Baxter International Inc., in nutrition therapy, launched the ExactaMix Pro Automated Compounder. Baxter provides advanced compounding technologies that help support formulation accuracy, process efficiency and patient safety. The result is an automated compounder that helps simplify common pharmacy tasks, offers stronger data reporting capabilities and delivers a better overall customer experience.

RFID-enabled inventory management solutions to pharmaceutical supply chain tracking, in healthcare settings and in patient homes. For instance, in October 2021, AmerisourceBergen launched universal RFID-tagging & mobile app for its acute care medication tray solution. AmerisourceBergen's medication tray solution is automated and makes managing medication trays accurate and easy - helping providers put their energy toward improving patient care. The system tracks products dispensed from and returned to the pharmacy and flags them for expiration dates, tampered product, and others.

Market Coverage

• The market number available for - 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Product
o By End-Users
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes Amerisource Bergen Corp., Baxter International Inc., Becton, Dickinson and Company, McKesson Corp., Omnicell, Inc., and others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Pharmacy Automation Devices Market Report Segment

By Product

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

By End Users

• Hospitals
• Ambulatory Care Centers
• Retail Pharmacy

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Global Pharmacy Automation Devices Market Report Segment by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• Accu-Chart Plus Healthcare Systems, Inc.
• ARxIUM Inc.
• Becton, Dickinson and Company
• Cerner Corp.
• Deenova S.R.L
• Fulcrum Pharmacy Management, Inc.
• iA
• Medacist Solutions Group, LLC
• Medical Packaging Inc. LLC
• Omnicell, Inc.
• Parata Systems LLC
• Pearson Medical Technologies LLC

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Company Name: Orion Market Research

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