Pharmacy Automation Market Increasing Number Of Patients And Visitors To The Hospitals And Pharmacies

According to Precision Business Insights (PBI), latest report, pharmacy automation market was valued at USD 6,193.4 million in 2023 and is expected to grow at a CAGR of 9.9% from 2024-2030. The primary factors that drive the market rise are the growing older population and the growing need to prevent medication mistakes. Furthermore, the rising decentralisation of pharmacies, as well as the growth in labour costs, are the other factors which are fuelling the global pharmacy automation market expansion.

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THE PHARMACY AUTOMATION MARKET DETAILED SEGMENTATION:
Based On the Product, The Market is Segmented into the Following:
• Automated Medication Dispensing Systems
• Automated Packaging and Labelling Systems
• Table-Top Counters
• Automated Storage
• Retrieval Systems
• Other Products

Based On End User, The Market is Segmented into the Following:
• Inpatient
• Outpatient
• Pharmacy Benefit Management Organization and Mail Order Pharmacies
• Retail Pharmacies

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Based on Product, the pharmacy automation market has been further subdivided into Automated Medication Dispensing Systems, Automated Packaging and Labelling Systems, Table-Top Counters, Automated Storage and Retrieval Systems, and Other Products. The increasing number of deaths caused by drug errors is attributable to the segment's expansion. Furthermore, rigorous government requirements are increasing the medicine dispensing systems market. Furthermore, the use of modern technology is opening the way for segment expansion. The increasing use of sterile compounding is one of the key factors driving the segment rise.

Based On Geography, The Market is Segmented into the Following:
• North America
• Europe
• Asia-Pacific
• Middle East and Asia
• Latin America

Europe region is expected to expand at a rapid pace. The increasing requirement to reduce prescription errors is a primary driver of the pharmacy automation market growth pace. Several factors can contribute to a pharmaceutical error, including insufficient order communication between the doctor and the pharmacist, dangerous pharmacy storage processes, and confusion induced using similar labels. Usage of automated systems is one of the most effective strategies to eliminate these errors which is boosting the market growth.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players
The global 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.

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, and Kirby Lester.

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