Press release
Pharmacy Automation Solution Market Poised for 13 % Growth, Set to Hit $13.82 Billion by 2029
Pharmacy Automation Solution Market
The anticipated increase in the need for pharmaceutical products is projected to drive the expansion of the pharmacy automation solution market in the future. Pharmaceutical goods, which include medicines that are used for the prevention, diagnosis, or treatment of diseases or health conditions, use pharmacy automation solutions for tasks such as drug delivery systems, tablet compression and coating, and liquid dosing as part of the manufacturing process. For example, in June 2023, the European Federation of Pharmaceutical Industries and Associations (EFPIA), a trade association that represents the pharmaceutical industry in Europe, reported that the total pharmaceutical production in Europe was valued at $384,200 million (€340,000 million) in 2022, indicating a rise of almost 4.95% from $366,267 million (€323,950 million) in 2021. Consequently, the increasing need for pharmaceuticals is paving the way for the expansion of the pharmacy automation solution market.
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What is the future CAGR of the pharmacy automation solution market, and how will it impact industry expansion?
Significant growth has been observed in recent years in the size of the pharmacy automation solution market. Its expansion is forecasted from $7.76 billion in 2024 to $8.51 billion in 2025, showcasing a Compound Annual Growth Rate (CAGR) of 9.6%. Factors such as the rise in prescription volumes, reduction of medication errors, labor shortages in the healthcare sector, regulatory compliance obligations, and a higher inclination towards convenience on the part of patients can be credited for the growth experienced in the past years.
It is anticipated that the pharmacy automation solution market will experience significant growth in the upcoming years, reaching $13.82 billion in 2029 with a compound annual growth rate (CAGR) of 12.9%. Factors expected to drive this growth during the forecast period include the utilization of telehealth and remote pharmacy services, integration with electronic health records (EHRs), improved medication management, optimizing pharmacy workload, and evolving global healthcare trends. Key trends projected to shape the market in the forecast period include inventory management solutions, patient-focused strategies, adherence to regulatory compliance, the application of data analytics and reporting, and compatibility with electronic health records (EHR).
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How are the latest trends influencing the growth of the pharmacy automation solution market?
The emergence of product innovations is a predominant trend making waves in the pharmacy automation solution market. Leading corporations in this market are building their strategies around creating novel products to ensure their dominance. A case in point is Deenova Srl, an Italian firm specializing in pharmacy automation solutions, which unveiled its latest innovative product, the EAHP D3 for pharmacy automation solutions, in March 2022. Features include the AIDE-Cut, a mechatronic system ideal for packaging oral solid medicines in unit doses, and the AIDE-Pack, used for repackaging all types of medicines (oral and otherwise) into unit dose format. Each unit dose is identified through a data matrix code encapsulating critical details about the drug such as its batch, expiry dates, unique serialization number, and medication code. Deenova's D3 series solution also encompass the AIDE-Pick, utilized for centralized therapy preparation in sub-acute and multi-facility healthcare environments.
Which key market segments comprise the pharmacy automation solution market and drive its revenue growth?
The pharmacy automation solution market covered in this report is segmented -
1) By Type: Automated Medication Dispensing, Automated Packaging And Labeling, Automated Storage And Retrieval, Automated Medication Compounding, Other Types
2) By Automation Mode: Fully-Automatic, Semi-Automatic
3) By Applications: Inpatient Pharmacy, Outpatient Pharmacy, Retail Pharmacy, Other Applications
Subsegments:
1) By Automated Medication Dispensing: Robotic Dispensing Systems, Automated Dispensing Cabinets (ADCs), Pharmacy Management Software
2) By Automated Packaging And Labeling: Labeling Systems, Packaging Machines, Barcode Scanning Solutions
3) By Automated Storage And Retrieval: Vertical Carousels, Horizontal Carousels, Automated Guided Vehicles (AGV's)
4) By Automated Medication Compounding: IV Compounding Systems, Oral Compounding Systems, Automated Compounding Devices
5) By Other Types: Medication Adherence Solutions, Inventory Management Systems, Workflow Management Solutions
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What regions are at the forefront of pharmacy automation solution market expansion?
Asia-Pacific was the largest region in the pharmacy automation solution market in 2024. The regions covered in the pharmacy automation solution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the pharmacy automation solution market?
Major companies operating in the pharmacy automation solution market include McKesson Corporation, AmerisourceBergen Corporation, Cerner Corporation, MedAvail Technologies Inc., Baxter International Inc., Grifols Shared Services North America Inc., KUKA AG, Omnicell Inc., Swisslog Holding AG, Pearson Medical Technologies UK, Parata Systems LLC, TOSHO Co. Inc., ScriptPro LLC, ABX Engineering Inc., Innovation Associates Inc., Mediware Information Systems Inc., ARxIUM, Capsa Solutions LLC, Kirby Lester LLC, MEPS Real-Time Inc., RxSafe LLC, ForHealth Technologies Inc., Medacist Solutions Group, Yuyama Inc., Talis Clinical LLC, Willach Group.
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What Is Covered In The Pharmacy Automation Solution Global Market Report?
• Market Size Forecast: Examine the pharmacy automation solution market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the pharmacy automation solution market for a structured understanding.
• Key Players Overview: Analyze major players in the pharmacy automation solution market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the pharmacy automation solution market.
• Segment Contributions: Evaluate how different segments drive overall growth in the pharmacy automation solution market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the pharmacy automation solution market.
• Industry Challenges: Identify potential risks and obstacles affecting the pharmacy automation solution market.
• Competitive Landscape: Review strategic developments in the pharmacy automation solution market, including expansions, agreements, and new product launches.
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