Pharmacy Automation Devices Market by Product (Storage And Retrieval Systems, Packaging And Labeling Systems), by End-user (Inpatient Pharmacies, Outpatient Pharmacies, Retail Pharmacy), and by Region - Global Forecast to 2023-2033

The pharmacy automation market size is estimated to be USD 5,289.7 million in 2022 and is expected to witness a CAGR of 9.91% during the forecast period 2023-2033. Growing geriatric population, automation in retail pharmacy globally, and technological innovations are some of the factors projected to drive the market growth in near future. Furthermore, increasing healthcare spending and surge in demand for reducing medication errors are other factors supporting the market growth, However, strict regulations and rising cost of pharmacy system implementation are predicted to limit market growth.

Automation in retail pharmacy is predicted spur the market growth during the forecast period. Robotic dispensing can improve prescription volumes while decreasing staff training expenses. The initial cost of establishing automated systems may be significant, but after the workflow is optimised, it saves far more. For instance, the installation of the ScriptPro dispensing robot, according to a Colorado pharmacy owner, boosted his prescription volume by 50%. According to the CEO of another pharmacy business, the robot’s installation raised his prescription volume by 70%.

Growing geriatric population globally is expected to fuel the market growth during the projected period. As a result, both the number of chronic and life-threatening diseases and the number of prescriptions written are increasing. In England, the National Health Service issues an estimated 237 million prescription errors annually, which cause hundreds of fatalities, according to a report published in June 2021 titled Economic analysis of the prevalence and clinical and economic consequences of medication error in England. To reduce expenses while enhancing patient safety, pharmacies and hospitals are embracing innovative pharmaceutical automation technology.

Segmentation

By Product

The market is categorized into storage and retrieval systems, packaging and labeling systems, tabletop tablet counters, medication dispensing systems, automated medication compounding systems. In 2022, the medication dispensing systems segment accounted for the highest revenue share due to these systems’ better safety features and precision in medication distribution, which reduce the chances of patients receiving the wrong medications. Additionally, it helps in efficient inventory management and lowers costs by controlling storage. Patients who receive the wrong prescriptions not only risk harm to their health, but also face huge financial consequences. According to a study published in StatPearls, over 9,000 individuals die each year as a result of medication errors, with expenses connected with patient management exceeding USD 40 billion yearly. The automated medication compounding systems segment is anticipated to increase at the fastest rate over the projected period. This is due to even a thorough manual compounding procedure is susceptible to mistakes, which can have a significant impact on how the pharmaceuticals turn out. Thus, the probability of these mistakes occurring when combining pharmaceuticals is decreased or eliminated with an automated compounding system.

By End User

The market is categorized into inpatient pharmacies, outpatient pharmacies, retail pharmacy, and pharmacy benefit management organizations and mail-order pharmacies. In the global market, the retail pharmacy segment accounted for the largest revenue share in 2022 owing to rise in retail pharmacies across all nations. Automation in retail pharmacies is revolutionizing the way costs are reduced on many levels. According to the OECD library, there are now more pharmacies in all OECD companies. In the years 2000 to 2019, Japan had the highest density due to increasing government efforts. Only 25% of pharmacists in Canada were employed in healthcare settings in 2019, with 75% of them continuing to work in community or retail pharmacies. The hospital pharmacy segment has shown the fastest growth. This is a result of high pressure on hospitals and clinics to reduce medication dispensing errors. Additionally, automation is more effective than its human counterparts and makes workflow management simple. Another benefit of managing the inventory for these hospital pharmacies is a decrease in medication waste. The segment has experienced rapid growth as a result of all these factors.

Regional Markets

In 2022, North America region accounted for the highest revenue in the pharmacy automation market and is expected to maintain its dominance during the forecast period. This is attributed to expansion of the region are the established healthcare system, improvements in patient management, and hospital management systems. According to a report in Drug Store News, 66% of prescribers and 48% of pharmacists stated that in the past 15 months, there has been an increase in the usage of automation and other technology. Furthermore, the regional market has grown as a result of the presence of significant drugstore chains and high patient volumes. Asia Pacific is anticipated to have the fastest CAGR during the forecast period. The increasing number of elderly people require medication for chronic diseases is the reason of this growth. The need to lower drug prices, prevent medication errors, and manage workflow properly in hospital pharmacies and standalone units have all contributed to the regional rise. This region has been offering the industry huge opportunities for expansion due to the enormous unmet needs in terms of sophisticated healthcare systems and management systems.

Competitor Insights

Some of the key players operating in the pharmacy automation market are Parata Systems, LLC, Baxter, Deenova S.R.L, TouchPoint Medical, ScriptPro, LLC, iA, Talyst, LLC,
Medacist Solutions Group, LLC, Accu Chart Plus Healthcare Systems, Inc., McKesson Corp., Pearson Medical Technologies, LLC, Kirby Lester, Cerner Corp., Omnicell, Inc., ARxIUM, Swisslog Healthcare, CareFusion (Becton Dickinson and Company), Yuyama Co. Ltd.

To achieve a competitive edge, these companies are implementing a variety of growth strategies. Strategic partnerships, alliances, and agreements with different businesses and research institutions are seen to be the main strategies used by companies in this sector.

  • AmerisourceBergen and Walgreens Boots Alliance formed a strategic alliance in January 2021. AmerisourceBergen acquired Walgreens Boots Alliance Healthcare Business, allowing it to focus more on expanding the retail pharmacy business. The two organizations are extending and increasing their commercial arrangements through this strategic cooperation.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including product and end user from 2022 to 2033.

Report Scope:

Key Parameters Details
Market size in 2022
  • USD 5,289.7 Million
CAGR
  • 9.91%
Base Year
  • 2022
Forecast Period
  • 2023-2033
Study Coverage
  • Global and regional market size and revenue forecast
  • Segment market size and revenue forecast at global, regional, and country level
  • Competitive landscape (company share analysis, company profiles, recent development, competitive map analysis)
  • Conclusion and recommendations
Qualitative Analysis
  • Market drivers
  • Market restraints
  • Market opportunities
  • Recent market trends
  • Market challenges
  • Porter’s Five Forces analysis
  • PEST analysis
  • COVID-19 impact analysis
Segment Market Scope
  • Product
  • End user
Regional Market Scope
  • North America
    (U.S. and Canada)
  • Europe
    (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
  • Asia Pacific
    (China, Japan, India, Australia, South Korea, Rest of APAC)
  • Latin America
    (Brazil, Mexico, Argentina, Rest of LATAM)
  • MEA
    (South Africa, GCC, Rest of MEA)
Company Profiles
  • Exhaustive profiles of top 10 players
  • Other major players listing
15% Free Customization Available
  • You can customize the study scope to meet your exact requirement. Click here for more details

Segmentation: Pharmacy Automation Devices Market Report 2022 – 2033

Product (Revenue, USD Million), 2022 – 2033

  • Storage And Retrieval Systems
  • Packaging And Labeling Systems
  • Tabletop Tablet Counters
  • Medication Dispensing Systems
    • Carousels
    • Robots/Robotic Automated Dispensing Systems
    • Automated Dispensing Cabinets
  • Automated Medication Compounding Systems

End user (Revenue, USD Million), 2022 – 2033

  • Inpatient Pharmacies
    • Long Term Care Facilities
    • Acute Care Settings
  • Outpatient Pharmacies
    • Hospital Retail Settings
    • Outpatient/Fast Track Clinics
  • Retail Pharmacy
  • Pharmacy Benefit Management Organizations and Mail-Order Pharmacies

By Region (Revenue, USD Million), 2022 – 2033

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of LATAM
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • Rest of MEA

Table of Contents: Pharmacy Automation Devices Market 2022-2033

  1. Research Methodology
    1. Study Objectives
    2. Study Scope
    3. Research Framework
      1. Research Models
        1. Bottom-up Approach
        2. Top-down Approach
        3. Data Triangulation
      2. Data Analysis
        1. Data Validation
        2. Market Size Estimation
        3. Market Forecast Model
  1. Introduction: Pharmacy Automation Devices
  2. Executive Summary
  3. Market Dynamics
    1. Market Drivers
      1. Driver 1
      2. Driver 2
      3. Driver 3
      4. Driver 4
      5. Driver 5
    2. Market Restraint
      1. Restraint 1
      2. Restraint 2
      3. Restraint 3
      4. Restraint 4
    3. Market Opportunities
      1. Opportunity 1
      2. Opportunity 2
      3. Opportunity 3
      4. Opportunity 4
    4. Market Trends
      1. Trend 1
      2. Trend 2
      3. Trend 3
      4. Trend 4
    5. Market Challenges
      1. Challenge 1
      2. Challenge 2
      3. Challenge 3
      4. Challenge 4
  1. Market Environment Analysis
    1. Porter’s 5 Forces Analysis
    2. PESTEL Analysis
    3. SWOT Analysis
  2. COVID-19 Impact Analysis: Pharmacy Automation Devices Market  
  3. Market Analysis by Product
    1. Storage And Retrieval Systems
      1. Storage And Retrieval Systems Market Forecast, 2022-2033(USD Million)
    2. Packaging And Labeling Systems
      1. Packaging And Labeling Systems Market Forecast, 2022-2033(USD Million)
    3. Tabletop Tablet Counters
      1. Tabletop Tablet Counters Market Forecast, 2022-2033(USD Million)
    4. Medication Dispensing Systems
      1. Medication Dispensing Systems Market Forecast, 2022-2033(USD Million)
        1. Carousels
          1. CarouselsMarket Forecast, 2022-2033 (USD Million)
        2. Robots/Robotic Automated Dispensing Systems
          1. Robots/Robotic Automated Dispensing SystemsMarket Forecast, 2022-2033 (USD Million)
        3. Automated Dispensing Cabinets
          1. Automated Dispensing CabinetsMarket Forecast, 2022-2033 (USD Million)
        4. Automated Medication Compounding Systems
          1. Automated Medication Compounding SystemsMarket Forecast, 2022-2033 (USD Million)
  1. Market Analysis byEnd User
    1. Inpatient Pharmacies
      1. Inpatient Pharmacies Market Forecast, 2022-2033(USD Million)
        1. Long Term Care Facilities
          1. Long Term Care FacilitiesMarket Forecast, 2022-2033 (USD Million)
        2. Acute Care Settings
          1. Acute Care Settings Market Forecast, 2022-2033 (USD Million)
        3. Outpatient Pharmacies
          1. Outpatient Pharmacies Market Forecast, 2022-2033(USD Million)
            1. Hospital Retail Settings
              1. Hospital Retail SettingsMarket Forecast, 2022-2033 (USD Million)
            2. Outpatient/Fast Track Clinics
              1. Outpatient/Fast Track Clinics Market Forecast, 2022-2033 (USD Million)
            3. Retail Pharmacy
              1. Retail Pharmacy Market Forecast, 2022-2033(USD Million)
            4. Pharmacy Benefit Management Organizations and Mail-Order Pharmacies
              1. Pharmacy Benefit Management Organizations and Mail-Order Pharmacies Market Forecast, 2022-2033(USD Million)
  1. Regional Market Analysis
    1. Regional Market Trends
  2. North America Pharmacy Automation Devices Market  
    1. North America Pharmacy Automation Devices Market
      1. North America Market Size and Forecast, 2022-2033(USD Million)
        1. Market Size and Forecast by Product, 2022-2033(USD Million)
        2. Market Size and Forecast by End User, 2022-2033(USD Million)
      2. S. Pharmacy Automation Devices Market
        1. S. Market Size and Forecast, 2022-2033(USD Million)
          1. Market Size and Forecast by Product, 2022-2033(USD Million)
          2. Market Size and Forecast by End User, 2022-2033(USD Million)
        2. Canada Pharmacy Automation Devices Market
          1. Canada Market Size and Forecast, 2022-2033(USD Million)
            1. Market Size and Forecast by Product, 2022-2033(USD Million)
            2. Market Size and Forecast by End User, 2022-2033(USD Million)
  1. Europe Pharmacy Automation Devices Market  
    1. Europe Pharmacy Automation Devices Market
      1. Europe Market Size and Forecast, 2022-2033(USD Million)
        1. Market Size and Forecast by Product, 2022-2033(USD Million)
        2. Market Size and Forecast by End User, 2022-2033(USD Million)
      2. Germany Pharmacy Automation Devices Market
        1. Germany Market Size and Forecast, 2022-2033(USD Million)
          1. Market Size and Forecast by Product, 2022-2033(USD Million)
          2. Market Size and Forecast by End User, 2022-2033(USD Million)
        2. UK Pharmacy Automation Devices Market
          1. UK Market Size and Forecast, 2022-2033(USD Million)
            1. Market Size and Forecast by Product, 2022-2033(USD Million)
            2. Market Size and Forecast by End User, 2022-2033(USD Million)
          2. France Pharmacy Automation Devices Market
            1. France Market Size and Forecast, 2022-2033(USD Million)
              1. Market Size and Forecast by Product, 2022-2033(USD Million)
              2. Market Size and Forecast by End User, 2022-2033(USD Million)
            2. Spain Pharmacy Automation Devices Market
              1. Spain Market Size and Forecast, 2022-2033(USD Million)
                1. Market Size and Forecast by Product, 2022-2033(USD Million)
                2. Market Size and Forecast by End User, 2022-2033(USD Million)
              2. Italy Pharmacy Automation Devices Market
                1. Italy Market Size and Forecast, 2022-2033(USD Million)
                  1. Market Size and Forecast by Product, 2022-2033(USD Million)
                  2. Market Size and Forecast by End User, 2022-2033(USD Million)
                2. Rest of Europe Pharmacy Automation Devices Market
                  1. Rest of Europe Market Size and Forecast, 2022-2033(USD Million)
                    1. Market Size and Forecast by Product, 2022-2033(USD Million)
                    2. Market Size and Forecast by End User, 2022-2033(USD Million)
  1. Asia Pacific Pharmacy Automation Devices Market  
    1. Asia Pacific Pharmacy Automation Devices Market
      1. Asia Pacific Market Size and Forecast, 2022-2033(USD Million)
        1. Market Size and Forecast by Product, 2022-2033(USD Million)
        2. Market Size and Forecast by End User, 2022-2033(USD Million)
      2. Japan Pharmacy Automation Devices Market
        1. Japan Market Size and Forecast, 2022-2033(USD Million)
          1. Market Size and Forecast by Product, 2022-2033(USD Million)
          2. Market Size and Forecast by End User, 2022-2033(USD Million)
        2. China Pharmacy Automation Devices Market
          1. China Market Size and Forecast, 2022-2033(USD Million)
            1. Market Size and Forecast by Product, 2022-2033(USD Million)
            2. Market Size and Forecast by End User, 2022-2033(USD Million)
          2. India Pharmacy Automation Devices Market
            1. India Market Size and Forecast, 2022-2033(USD Million)
              1. Market Size and Forecast by Product, 2022-2033(USD Million)
              2. Market Size and Forecast by End User, 2022-2033(USD Million)
            2. South Korea Pharmacy Automation Devices Market
              1. South Korea Market Size and Forecast, 2022-2033(USD Million)
                1. Market Size and Forecast by Product, 2022-2033(USD Million)
                2. Market Size and Forecast by End User, 2022-2033(USD Million)
                3. Market Size and Forecast by Device, 2022-2033(USD Million)
              2. Australia Pharmacy Automation Devices Market
                1. Australia Market Size and Forecast, 2022-2033(USD Million)
                  1. Market Size and Forecast by Product, 2022-2033(USD Million)
                  2. Market Size and Forecast by End User, 2022-2033(USD Million)
                2. Rest of Asia Pacific Pharmacy Automation Devices Market
                  1. Rest of Asia Pacific Market Size and Forecast, 2022-2033(USD Million)
                    1. Market Size and Forecast by Product, 2022-2033(USD Million)
                    2. Market Size and Forecast by End User, 2022-2033(USD Million)
  1. Latin America Pharmacy Automation Devices Market  
    1. Latin America Pharmacy Automation Devices Market
      1. Latin America Market Size and Forecast, 2022-2033(USD Million)
        1. Market Size and Forecast by Product, 2022-2033(USD Million)
        2. Market Size and Forecast by End User, 2022-2033(USD Million)
      2. Brazil Pharmacy Automation Devices Market
        1. Brazil Market Size and Forecast, 2022-2033(USD Million)
          1. Market Size and Forecast by Product, 2022-2033(USD Million)
          2. Market Size and Forecast by End User, 2022-2033(USD Million)
        2. Mexico Pharmacy Automation Devices Market
          1. Mexico Market Size and Forecast, 2022-2033(USD Million)
            1. Market Size and Forecast by Product, 2022-2033(USD Million)
            2. Market Size and Forecast by End User, 2022-2033(USD Million)
          2. Argentina Pharmacy Automation Devices Market
            1. Argentina Market Size and Forecast, 2022-2033(USD Million)
              1. Market Size and Forecast by Product, 2022-2033(USD Million)
              2. Market Size and Forecast by End User, 2022-2033(USD Million)
            2. Rest of Latin America Pharmacy Automation Devices Market
              1. Rest of Latin America Market Size and Forecast, 2022-2033(USD Million)
                1. Market Size and Forecast by Product, 2022-2033(USD Million)
                2. Market Size and Forecast by End User, 2022-2033(USD Million)
  1. MEA Pharmacy Automation Devices Market  
    1. MEA Pharmacy Automation Devices Market
      1. MEA Market Size and Forecast, 2022-2033(USD Million)
        1. Market Size and Forecast by Product, 2022-2033(USD Million)
        2. Market Size and Forecast by End User, 2022-2033(USD Million)
      2. GCC Pharmacy Automation Devices Market
        1. GCC Market Size and Forecast, 2022-2033(USD Million)
          1. Market Size and Forecast by Product, 2022-2033(USD Million)
          2. Market Size and Forecast by End User, 2022-2033(USD Million)
        2. South Africa Pharmacy Automation Devices Market
          1. South Africa Market Size and Forecast, 2022-2033(USD Million)
            1. Market Size and Forecast by Product, 2022-2033(USD Million)
            2. Market Size and Forecast by End User, 2022-2033(USD Million)
          2. Rest of MEA Pharmacy Automation Devices Market
            1. Rest of MEA Market Size and Forecast, 2022-2033(USD Million)
              1. Market Size and Forecast by Product, 2022-2033(USD Million)
              2. Market Size and Forecast by End User, 2022-2033(USD Million)
  1. Competitor Analysis
    1. Market Share Analysis, 2022
    2. Major Recent Developments, 2019-2022
  2. Company Profiles
    1. Parata Systems, LLC
      1. Company Snapshot
      2. Company Overview
      3. Financials
      4. Product Benchmarking
      5. Recent Developments
    2. Baxter
      1. Company Snapshot
      2. Company Overview
      3. Financials
      4. Product Benchmarking
      5. Recent Developments
    3. Deenova S.R.L
      1. Company Snapshot
      2. Company Overview
      3. Financials
      4. Product Benchmarking
      5. Recent Developments
    4. TouchPoint Medical
      1. Company Snapshot
      2. Company Overview
      3. Financials
      4. Product Benchmarking
      5. Recent Developments
    5. ScriptPro, LLC
      1. Company Snapshot
      2. Company Overview
      3. Financials
      4. Product Benchmarking
      5. Recent Developments
    6. iA
      1. Company Snapshot
      2. Company Overview
      3. Financials
      4. Product Benchmarking
      5. Recent Developments
    7. Talyst, LLC
      1. Company Snapshot
      2. Company Overview
      3. Financials
      4. Product Benchmarking
      5. Recent Developments
    8. Medacist Solutions Group, LLC
      1. Company Snapshot
      2. Company Overview
      3. Financials
      4. Product Benchmarking
      5. Recent Developments
    9. Accu Chart Plus Healthcare Systems, Inc.
      1. Company Snapshot
      2. Company Overview
      3. Financials
      4. Product Benchmarking
      5. Recent Developments
    10. McKesson Corp.
      1. Company Snapshot
      2. Company Overview
      3. Financials
      4. Product Benchmarking
      5. Recent Developments
    11. Pearson Medical Technologies, LLC
      1. Company Snapshot
      2. Company Overview
      3. Financials
      4. Product Benchmarking
      5. Recent Developments
    12. Kirby Lester
      1. Company Snapshot
      2. Company Overview
      3. Financials
      4. Product Benchmarking
      5. Recent Developments
    13. Cerner Corp.
      1. Company Snapshot
      2. Company Overview
      3. Financials
      4. Product Benchmarking
      5. Recent Developments
    14. Omnicell, Inc.
      1. Company Snapshot
      2. Company Overview
      3. Financials
      4. Product Benchmarking
      5. Recent Developments
    15. ARxIUM
      1. Company Snapshot
      2. Company Overview
      3. Financials
      4. Product Benchmarking
      5. Recent Developments
    16. Others Prominent Players
  3. Conclusion & Recommendations

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