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Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Pharmacy Automation Market: By Product, By End User and Region Forecast 2019-2030
Pharmacy Automation Market: By Product, By End User and Region Forecast 2019-2030
Pharmacy Automation Market size was valued at US$ 6,193.4 million in 2023 and is expected to grow at a CAGR of 9.9% from 2024-2030. Due to the increased demand for devices that aid in the reduction of drug mistakes. The manufacturers most require pharmacy automation, pharmaceutical manufacturing, and life sciences are high-volume production systems that can securely process, dispense, label, and package pharmaceuticals and prescriptions. Pharmacy automation providers must be able to demonstrate that their equipment and solutions always perform precisely to ensure that pharmaceuticals are prepared to the exact dose and prescriptions are filled with the correct quantity. The growing demand for specialized drug prescription filling solutions, the growing need to reduce medication errors, and pharmacy decentralization are driving the market.
Furthermore, the rising use of several types of advanced robotics, growing government efforts to support industrial development, and a quick surge in demand for IoT in pharmaceutical production units around the world are expected to fuel global market expansion and demand in the future years. There has been a rise in the global geriatric population. As a result, the prevalence of chronic and life-threatening disorders is increasing, and increasing distribution of pharmaceuticals.
According to the article "Economic Analysis of the Prevalence and Clinical and Economic Burden of Medication Error in England," published in June 2021, an estimated 237 million medication errors occur in the NHS in England each year, resulting in hundreds of deaths from avoidable adverse drug reactions (ADRs). As a result, hospitals and pharmacies are implementing new pharmacy automation technology to save money while enhancing patient safety which is increasing the global market growth. Furthermore, these pharmacy automation systems provide numerous benefits to patients, pharmacies, and essential members of the healthcare team. Automated solutions also have significant cost-effectiveness and safety advantages, and they help to streamline pharmacy processes by optimizing data flows. All these technological advancements have helped pharmacies stay competitive in a rapidly changing sector while also benefiting patients and doctors in many ways. Furthermore, these devices have lowered costs by reducing the need for physical labor. All these factors have contributed to fueling the global market growth.
Study Period
2024-2030Base Year
2023CAGR
8.2%Largest Market
Asia PacificFastest Growing Market
North America
A significant increase in the demand for vaccines for several chronic diseases, as well as an increase in the number of patients admitting and opting for hospital facilities due to their increased spending capacity in the healthcare sector, are expected to contribute significantly to global pharmacy automation market growth during the forecast period, as is the continuous introduction of many new and innovative automation devices by large market companies globally. The rate of infection increased during the pandemic, increasing the demand for medicines.
The increased infection incidence has had a positive impact on the need for market. As a result, healthcare facilities and pharmacies favor these automated systems, which have grown in popularity as the demand for them has expanded. However, factors such as a reluctance to accept pharmacy automation systems due to the excessive cost of the pharmacy automation system are expected to hamper the market's growth.
North America dominated the pharmacy automation market and is expected to continue its position throughout the forecast period due to the region advanced patient management systems and advanced healthcare systems. Growing attempts by major pharmaceutical producers to reduce medicine waste and costs have also influenced the growth of the market. Asia-Pacific is expected to increase at the fastest rate throughout the projection period. China dominates the Asia-Pacific market. The Asia-Pacific market is being pushed by a growing elderly population as well as increased healthcare expenditures and investments. Furthermore, the growing need to reduce drug errors is propelling the Asia-Pacific market forward.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 6,193.4 million |
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Market CAGR |
8.2% |
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By Product Type |
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By Pharmacy Type |
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By Region |
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Pharmacy automation market size was valued at US$ 6,193.4 million in 2023 and is expected to grow at a CAGR of 9.9% from 2024-2030.
The high-growth countries in this market are China, the U.S., Germany, and India. These countries are expected to offer significant growth opportunities for the market.
Pharmacy Automation Market was valued at US$ 6,193.4 million in 2023 and is expected to grow at a CAGR of 9.9% from 2024-2030.
| 1.Executive Summary |
| 2.Global Pharmacy Automation Market Introduction |
| 2.1.Global Pharmacy Automation Market - Taxonomy |
| 2.2.Global Pharmacy Automation Market - Definitions |
| 2.2.1.Product Type |
| 2.2.2.Pharmacy Type |
| 2.2.3.Region |
| 3.Global Pharmacy Automation Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Pharmacy Automation Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Pharmacy Automation Market By Product Type , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Automated Medication Dispensing Systems |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Automated Packaging and Labelling Systems |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Table-Top Counters |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Automated Storage |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Retrieval Systems |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 5.6. Other Products |
| 5.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.6.3. Market Opportunity Analysis |
| 6.Global Pharmacy Automation Market By Pharmacy Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Inpatient |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Outpatient |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Pharmacy Benefit Management Organization and Mail Order Pharmacies |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Retail Pharmacies |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 7.Global Pharmacy Automation Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.North America Pharmacy Automation Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Automated Medication Dispensing Systems |
| 8.1.2.Automated Packaging and Labelling Systems |
| 8.1.3.Table-Top Counters |
| 8.1.4.Automated Storage |
| 8.1.5.Retrieval Systems |
| 8.1.6.Other Products |
| 8.2. Pharmacy Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Inpatient |
| 8.2.2.Outpatient |
| 8.2.3.Pharmacy Benefit Management Organization and Mail Order Pharmacies |
| 8.2.4.Retail Pharmacies |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9.Europe Pharmacy Automation Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Automated Medication Dispensing Systems |
| 9.1.2.Automated Packaging and Labelling Systems |
| 9.1.3.Table-Top Counters |
| 9.1.4.Automated Storage |
| 9.1.5.Retrieval Systems |
| 9.1.6.Other Products |
| 9.2. Pharmacy Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Inpatient |
| 9.2.2.Outpatient |
| 9.2.3.Pharmacy Benefit Management Organization and Mail Order Pharmacies |
| 9.2.4.Retail Pharmacies |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 10.Asia Pacific (APAC) Pharmacy Automation Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Automated Medication Dispensing Systems |
| 10.1.2.Automated Packaging and Labelling Systems |
| 10.1.3.Table-Top Counters |
| 10.1.4.Automated Storage |
| 10.1.5.Retrieval Systems |
| 10.1.6.Other Products |
| 10.2. Pharmacy Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Inpatient |
| 10.2.2.Outpatient |
| 10.2.3.Pharmacy Benefit Management Organization and Mail Order Pharmacies |
| 10.2.4.Retail Pharmacies |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11.Middle East and Africa (MEA) Pharmacy Automation Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Automated Medication Dispensing Systems |
| 11.1.2.Automated Packaging and Labelling Systems |
| 11.1.3.Table-Top Counters |
| 11.1.4.Automated Storage |
| 11.1.5.Retrieval Systems |
| 11.1.6.Other Products |
| 11.2. Pharmacy Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Inpatient |
| 11.2.2.Outpatient |
| 11.2.3.Pharmacy Benefit Management Organization and Mail Order Pharmacies |
| 11.2.4.Retail Pharmacies |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12.Latin America Pharmacy Automation Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Automated Medication Dispensing Systems |
| 12.1.2.Automated Packaging and Labelling Systems |
| 12.1.3.Table-Top Counters |
| 12.1.4.Automated Storage |
| 12.1.5.Retrieval Systems |
| 12.1.6.Other Products |
| 12.2. Pharmacy Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Inpatient |
| 12.2.2.Outpatient |
| 12.2.3.Pharmacy Benefit Management Organization and Mail Order Pharmacies |
| 12.2.4.Retail Pharmacies |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.BD |
| 13.2.2.Baxter |
| 13.2.3.TOSHO co. Inc |
| 13.2.4.Takazono Corporation |
| 13.2.5.Omnicell |
| 13.2.6.Yuyama |
| 13.2.7.Swisslog HealthCare |
| 13.2.8.Willach Group |
| 13.2.9.iA |
| 13.2.10.Parata Systems |
| 13.2.11.ScriptPro |
| 13.2.12.Talyst |
| 13.2.13.Oracle Cerner |
| 13.2.14.Kirby Lester |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.