Pharmacy Automation Market by Product (Automated Medication Dispensing, Packaging & Labeling, Storage & Retrieval, Medication Compounding Systems, Table-top Counters, and Pharmacy Robots), End User (Retail, Hospital Pharmacies) - Global Forecast to 2030

Pharmacy Automation Market Size & Forecast

The Pharmacy Automation Market is expected to reach $7.87 billion by 2030, at a CAGR of 7.6% during the forecast period 2024–2030. Pharmacy automation is the process of automating the sorting, dispensing, counting, and packaging of prescription medications in a pharmacy. It includes robotics technology, pharmacy management software, and a combination of machines to perform repetitive tasks in a precise manner. Robotics and tabletop tablets/ pills/ capsule counters are the common forms of automation. It is used to count prescription medications accurately, allows pharmacies to reduce the risk of errors, and streamlines the workflow.

The growth of the pharmacy automation market is attributed to factors such as the rise of artificial intelligence (AI) in pharmacy, growing focus on automation to reduce labor costs, increasing adoption of robotics technology in automation, and minimizing medication errors using technological innovations. Furthermore, the advancements of compact automated pharmacy systems and increasing healthcare expenses in emerging economies are expected to offer significant growth opportunities for companies in the pharmacy automation market.

However, stringent regulatory procedures and unwillingness to adopt pharmacy automation systems due to high costs are expected to restrain the growth of this market to some extent. In addition, the lack of interoperability in pharmacy automation, the lack of skilled professionals, and stringent regulatory procedures are the major challenges to the market’s growth.

The Rise of Artificial Intelligence (AI) in Pharmacy Drives the Demand for Pharmacy Automation

The emergence of AI in healthcare has been disruptive. It provides an opportunity to reduce human errors, provide continuous patient services, and assist medical professionals and staff. It is rapidly merged into several aspects of pharmacy, such as to enhance patient safety, improve quality of care, and streamline operations. AI has transformed the pharmaceutical industry in exceptional ways, from automating routine tasks to predicting patient outcomes.

Automation of routine tasks is one of the most significant impacts of AI in pharmacy. Pharmacists often spend more time managing inventory, filling prescriptions, and handling insurance claims. However, AI can simply automate these tasks. For instance, AI-powered robots can precisely count, label, and package medications, increase workflow efficiency, and reduce human errors.

Therefore, pharmacists can focus on critical aspects of patient care. Also, AI can help pharmacists deliver personalized medicine to patients to identify potential drug interactions and adverse reactions by analyzing patient data, including medication usage, medical history, and allergies. This can help pharmacists to make decisions regarding personalized medicines.

Furthermore, by detecting medication errors, AI can improve patient safety. AI-based systems can evaluate electronic health records (EHR) and pharmacy data to detect patterns that might show medication errors. This early detection can prevent harmful conditions and enhance patient safety. Thus, the above-mentioned key factors, such as medication management, personalized medicines, increased medicine and affordability, and patient safety, are driving the growing adoption of AI in pharmacy.

However, data privacy and security, requiring access to sensitive patient information, integration of AI in existing healthcare systems & workflows, and requiring regulations and guidelines to check the ethical use of AI can be the challenges in implementing AI in pharmacy.

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Minimal Medication Errors Using Technological Innovations Drives the Pharmacy Automation Market

Certain common factors are most significant for medication errors in hospitals, including workflow problems, staffing, and environmental conditions. The total global cost associated with medication errors has been estimated at USD 42 billion annually, according to the data published by WHO. Also, in England, there are nearly 237 million people impacted by medication errors more than a year in 2020.

Medication errors can be reduced using technical innovations. The computerized physician order entry (CPOE) system enables physicians to prevent errors at dispensing stages and ordering medications. It can also improve the safety and privacy of other medication orders. Another major class of technology includes health information technology, which is used to improve patient safety by minimizing prescribing errors and associated adverse drug events. It may also cause new types of technology-generated errors (TGE).

It can also increase the efficiency of the clinical workflow and reduce costs and errors across all healthcare settings. A bar-coding technology has become increasingly popular in hospitals and health systems. It can be used to verify the accurate medication is being provided to the right patient at the time. Also, telepharmacy can enhance access to health professionals and facilities in rural and remote areas and improve pharmaceutical care service delivery.

Thus, advancements in technologies such as robotics, radio frequency identification (RFID), digital imaging, bar coding, and automated calculations of doses and dilutions can reduce medication errors and thereby boost the pharmacy automation market.

Key Findings of the Pharmacy Automation Market Study:

In 2024, the Automated Medication Dispensing Systems Segment is Expected to Dominate the Pharmacy Automation Market

Among products, in 2024, the automated medication dispensing systems segment is expected to account for the largest share of the pharmacy automation market. The large market share of this segment is attributed to providing safer and secure medication storage than manual dispensing units, allowing electronic tracking of controlled drugs, more accessibility and inventory control of medications, and capable to track & monitor drug usage patterns.

In 2024, the Retail Pharmacies Segment is Expected to Dominate Pharmacy Automation Market

Among end users, in 2024, the retail pharmacies segment is expected to account for the largest share of the pharmacy automation market. The large market share of this segment is attributed to enhanced medication safety & security, customer satisfaction, and increased operational efficiency. Further, automation also helps retail pharmacies manage the data more effectively and efficiently, provide customized medication packaging for patients, and improve medication storage and pharmacy workflow.

United States: Largest Regional Market

Based on geography, the U.S. is expected to account for the largest share of the pharmacy automation market in 2024. The largest market share of the segment can be attributed to the growing geriatric population, increasing number of retail medicines, reducing dispenser errors, increasing demand for specialty drugs, and increasing incidences of accidents due to medical drug errors.

Pharmacy Automation Market: Key Companies

The key players profiled in the pharmacy automation market study are Omnicell, Inc. (U.S.), ARxIUM, Inc. (U.S.), MCKESSON CORPORATION (U.S.), Swisslog Healthcare (Switzerland), RxSafe, LLC. (U.S.), Becton, Dickinson and Company (U.S.), Capsa Healthcare (U.S.), TOSHO Inc. (Japan), Medical Packaging Inc., LLC (U.S.), TouchPoint, Inc. (U.S.), Noritsu Pharmacy Automation (U.S.), Körber AG (Germany), and ScriptPro LLC (U.S.).

Scope of the Report:

Pharmacy Automation Market Assessment, by Product

• Automated Medication Dispensing Systems
• Automated Packaging & Labelling Systems
• Automated Storage & Retrieval Systems
• Automated Medication Compound Systems
• Automated Table-top Tablet and Capsule Counters
• Automated Pharmacy Robots

Pharmacy Automation Market Assessment, by End User

• Retail Pharmacies
• Hospital Pharmacies
• Other End Users
  (Note: Other end users comprise clinical pharmacies, industrial pharmacies, and compounding pharmacies.)

Pharmacy Automation Market Assessment, by Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe (RoE)
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of APAC (RoAPAC)
• Latin America
• Middle East & Africa

Key questions answered in the report: