Pharmacy Automation Market Scope and Industry Growth Report

According to Precision Business Insights (PBI), the latest report, the market value of the Pharmacy Automation Market size was valued at USD 6,193.4 million in 2023 and is poised to grow at a 9.9% CAGR during the forecast period 2024 to 2030. The primary factors that drive the market are the growing prevalence of chronic diseases and observed medication errors, the rising need for automated medicine dispensing systems, and the increasing demand advanced robotic tools in the pharmacy.

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THE PHARMACY AUTOMATION MARKET DETAILED SEGMENTATION:
Based on the product type, the market is segmented into the following
• Automated Medication Dispensing
• Storage Systems
• Table-Top Counters
• Retrieval Systems
• Medication Compounding

Based on the application, the market is segmented into the following
• Drug Dispensing and Packaging
• Drug Storage
• Inventory Management

Based on the end user, the market is segmented into the following
• Inpatient Pharmacies
• Outpatient Pharmacies
• Pharmacy Benefit Management Organization
• Mail Order Pharmacies
• Retail Pharmacies

Robotic Medication Dispensing is the Latest Technology in the Pharmacy Automation Market:
Based on product type, robotic medication dispensing latest technology in the market. The major factor for the rise of this segment is that the use to minimize error while dispensing, increasing prevalence of chronic diseases across and world, and lack of doctor-pharmacy communication results in errors in dispensing correct medicine, due to technology adoption lowers the risk. In addition, the dispensing of narcotics drugs and other controlled drugs has to be monitored every time of dispensing. This technology helps pharmacies to regulate proper dispensing and control medication errors. These factors can drive the Pharmacy Automation Market growth.

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Based on the geography the market is segmented into the following
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

Asia Pacific Pharmacy Automation Market:
Asia Pacific region is expected to grow significantly in the pharmacy automation market size over the forecast period. Automation provides self-technology for doing things, medication become the most critical segment to regulate properly, adoption of new technology in the region increases the market growth and leads to increased demand in the market. China, India, and Thailand are emerging market for pharmacy automation systems enhanced technology in the market create new opportunity in the market and is predicted to grow rapidly in the forecast years.

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STRATEGIC NEW PRODUCT LAUNCHES, MERGERS, ACQUISITIONS, AND AGREEMENTS ARE THE KEY STRATEGIES ADOPTED BY MARKET PLAYERS:
The Pharmacy Automation Market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share.

• In March 2022, Deenova launched a New Product Line @ EAHP, "AIDE-Pick" offers a solution developed to fit the needs of the centralized therapy preparation in sub-acute and/or multi-site Healthcare Facilities,"AIDE-Cut" offers many possible configurations such as options mono or multi-reference, typical or atypical blister format, bulk medications or for the different model of collecting the crated unit doses and "AIDE-Pack" new solution for the repackaging of all forms of medications (Oral and non-Oral) in unit dose format. Each unit dose is identified by a Data matrix code, summarizing the main characteristics of the medication: a unique serialization number, and medication code.
• In February 2022, Willach Group launched a new Consis C pharmacy robot All of the robot's functions can be controlled from the distinctive touchscreen, which is flush-mounted in the door. Its tablet-like operation and response make it intuitive to use. The Consis C features a dual feed so you can place two items next to each other on the belt, even if they have different packaging.

Key players' profiles in the Pharmacy Automation Market report are BD Baxter TOSHO co. Inc Takazono Corporation Omnicell Yuyama Swisslog HealthCare Willach Group iA Parata Systems ScriptPro Talyst Oracle Cerner Kirby Lester

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This release was published on openPR.