Press release
Rise In Disease Rate Is Anticipated To Fuel The Expansion Of The Pharmacy Automation Market: An Emerging Driver Transforming The Pharmacy Automation Market Landscape
Pharmacy Automation Market Size
What Is the Projected Growth of the Pharmacy Automation Market?
In recent years, there has been a significant increase in the size of the pharmacy automation market. It is projected to expand from $7.32 billion in 2024 to $8.2 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 12.0%. Factors like lack of skilled pharmacy personnel, strict rules and standards, the necessity to decrease drug mistakes, improved data handling, and the patients' demand for quicker service are responsible for the growth observed in the historical period.
Anticipated to witness a swift expansion in the near future, the pharmacy automation market is predicted to surge to $12.71 billion by the year 2029, progressing at a compound annual growth rate (CAGR) of 11.6%. This growth for the predicted period is due to influential factors such as the increasing number of prescriptions from aging population, the proliferation of retail pharmacy chains, a strong emphasis on enhancing patient experience, escalating labor costs, and incorporation with electronic health record (EHR) systems. The forecast period is further characterized by significant trends including AI-integrated systems, the uptake of telepharmacy solutions, amplified robotics usage, the establishment of centralized prescription processing systems, and the implementation of blockchain technology.
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What Are the Different Pharmacy Automation Market Segments?
The pharmacy automation market covered in this report is segmented -
1) By Product: Dispensing Systems, Pill Sorting Machines, Labelling Machines, Packaging Machines, Inventory Management, Automated Storage and Retrieval Systems, Other Products
2) By Application: Drug Dispensing And Packaging, Drug Storage, Inventory Management
3) By End User: Inpatient Pharmacies, Outpatient Pharmacies, Retail Pharmacies, Pharmacy Benefit Management Organizations And Mail-Order Pharmacies
Subsegments:
1) By Dispensing Systems: Prescription Dispensing Systems, Automated Dispensing Cabinets, Robot-Assisted Dispensing
2) By Pill Sorting Machines: Manual Pill Sorting Machines, Automated Pill Sorting Machines
3) By Labelling Machines: Labeling For Bottles And Containers, Labeling For Blister Packs, Automated Label Application Machines
4) By Packaging Machines: Pill Packaging Machines, Blister Packaging Machines, Bottle Packaging Machines
5) By Inventory Management: Inventory Tracking Systems, Drug Replenishment Systems, Stock Auditing Systems
6) By Automated Storage And Retrieval Systems: Vertical Lift Modules (Vlms), Automated Shelving Systems, Carousel Storage Systems
7) By Other Products: Prescription Verification Systems, Pharmacy Workflow Automation Tools
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What Are the Primary Drivers Shaping the Pharmacy Automation Market?
An increase in disease prevalence is likely to fuel expansion in the pharmacy automation market. The disease prevalence rate quantifies how often a specific illness arises in a given population and during a fixed timeframe. The spike in disease rates can be attributed to various elements, such as population growth, boosted travel and trade activities, climate alterations, pollution, and the intro of recent infectious microbes or versions. Pharmacy automation endeavors to counteract disease rates by optimizing medication delivery sequences to improve precision and productivity in disease control. Pharmacy automation tools can help with the punctual dispensing and observing of medications, allowing healthcare workers to step in swiftly when a patient's circumstances deteriorate. For example, in February 2024, the World Health Organization, based in Switzerland, projected that by 2050 there would be over 35 million new cases of cancer, a 77% rise from the approximate 20 million cases in 2022. Consequently, the rise in the prevalence of diseases is fuelling the expansion of the pharmacy automation market.
Which Companies Are Leading in the Pharmacy Automation Market?
Major companies operating in the pharmacy automation market report are Mckesson Corporation; AmerisourceBergen Corporation; Oracle Corporation; Baxter International Inc.; Cerner Corporation; Pearson Medical Technologies LLC; Omnicell Inc.; Swisslog Holding AG; Tension Corporation; Noritsu Koki Co. Ltd.; Scriptpro LLC; Capsa Healthcare LLC; Alixar Healthcare Private Limited; Deenova S.R.L; ARxIUM Inc.; Talyst Systems LLC; Touchpoint Medical Solutions Pvt. Ltd.; Kirby Lester LLC; Yuyama Co. Ltd.; Willach GmbH; RxSafe LLC; Meditech Pharmacy Management Solutions Inc.; Accu-Chart Plus Healthcare System Inc.; PDX Pharmaceuticals Inc.; Newicon Ltd.
What Are the Major Trends Shaping the Pharmacy Automation Market?
To gain an advantage in the pharmacy automation market, leading companies are concentrating on developing their product range with innovative pharmacy automation systems, such as cutting-edge, automated drug dispensing systems. These are advanced technological developments aimed at automating and increasing efficiency in medication dispensation in healthcare institutions. To exemplify, JVM Co. Ltd., a South Korean producer of pharmacy automation systems, introduced the MENITH, a new dispensing machine with a robotic arm, in October 2023. This advanced product from JVM boasts a cooperative multi-joint robot arm designed to completely automate the canister swap process. The MENITH not only dispenses at a speed over two times faster than regular pouch-type automated dispensing machines, delivering up to 120 pouches per minute, but also includes an automated inspection system that helps to significantly lower the time and resources used in pharmacy dispensing.
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What Are the Top Revenue-Generating Geographies in the Pharmacy Automation Market?
North America was the largest region in the pharmacy automation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pharmacy automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Pharmacy Automation Market?
2. What is the CAGR expected in the Pharmacy Automation Market?
3. What Are the Key Innovations Transforming the Pharmacy Automation Industry?
4. Which Region Is Leading the Pharmacy Automation Market?
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