Resources
About Us
Home Report
Store
Pharmacy Automation Market
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
Report ID:MRHC - 1041017 Pages: 240 Aug-2024 Formats*: PDF Category: Healthcare Delivery: 24 to 72 HoursPharmacy 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.
Click here to: Get Free Sample Pages of this Report
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:
The pharmacy automation market study covers the market sizes & forecasts for several automated pharmacy systems used in the healthcare sector. The report involves the value analysis of various segments and subsegments of the pharmacy automation market at the regional and country levels.
The pharmacy automation market is projected to reach $7.87 billion by 2030, at a CAGR of 7.6% during the forecast period.
In 2024, the automated medication dispensing systems segment is expected to account for the largest share of the pharmacy automation market. These systems are computer-controlled machines that store, dispense, and track medications. Factors such as more efficient access to medications, providing secure medication storage in patient care units, improving healthcare collaboration, and enabling enhanced services to patients contributed to the largest share of the market’s growth.
The retail pharmacies segment is slated to register the highest CAGR during the forecast period. The largest share of the segment can be 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.
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 pharmacy automation, and efforts to minimize medication errors. Furthermore, the advancements in 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.
The key players operating in the pharmacy automation market 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.).
1. Introduction
1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency & Limitations
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Approach
2.2. Process of Data Collection and Validation
2.2.1. Secondary Research
2.2.2. Primary Research/Interviews with Key Opinion Leaders of the Industry
2.3. Market Sizing & Forecasting
2.3.1. Market Size Estimation Approach
2.3.1.1. Bottom-up Approach
2.3.1.2. Top-down Approach
2.3.1.3. Growth Forecast Approach
2.3.2. Market Share Analysis
2.4. Assumptions for the Study
3. Executive Summary
4. Market Insights
4.1. Overview
4.2. Drivers
4.2.1. Rise of Artificial Intelligence (AI) in Pharmacy
4.2.2. Growing Focus on Automation to Reduce Labor Costs
4.2.3. Increasing Adoption of Robotics Technology in Pharmacy Automation
4.2.4. Efforts to Minimize Medication Errors
4.3. Restraints
4.3.1. Stringent Regulatory Procedures
4.3.3. Unwillingness to Adopt Pharmacy Automation System due to the High Cost
4.4. Opportunity
4.4.1. Advancements in the Compact Automated Pharmacy Systems
4.4.2. Increasing Healthcare Expenses in Emerging Economies
4.5. Challenges
4.5.1. Lack of Skilled Professionals
4.5.2. Lack of Interoperability in Pharmacy Automation
4.6. Regulatory Analysis
4.7. Porter’s Five Forces Analysis
4.8. Industry and Technology Trends
5. Global Pharmacy Automation Market Assessment, by Product
5.1. Overview
5.2. Automated Medication Dispensing Systems
5.3. Automated Packaging & Labelling Systems
5.4. Automated Storage & Retrieval Systems
5.5. Automated Medication Compound Systems
5.6. Automated Table-top Tablet and Capsule Counters
5.7. Automated Pharmacy Robots
6. Global Pharmacy Automation Market Assessment—by End User
6.1. Overview
6.2. Retail Pharmacies
6.3. Hospital Pharmacies
6.4. Other End Users
7. Pharmacy Automation Market Assessment—by Geography
7.1. Overview
7.2. North America
7.2.1. U.S.
7.2.2. Canada
7.3. Europe
7.3.1. U.K.
7.3.2. Germany
7.3.3. France
7.3.4. Italy
7.3.5. Spain
7.3.6. Rest of Europe
7.4. Asia-Pacific
7.4.1. China
7.4.2. Japan
7.4.3. India
7.4.4. Australia
7.4.5. South Korea
7.4.6. Rest of Asia-Pacific
7.5. Latin America
7.6. Middle East & Africa
8. Competitive Analysis
8.1. Overview
8.2. Key Growth Strategies
8.3. Competitive Benchmarking
8.4. Competitive Dashboard
8.4.1. Industry Leaders
8.4.2. Market Differentiators
8.4.3. Vanguards
8.4.4. Emerging Companies
8.5. Market Share Analysis, by Key Players/Key Market Players Ranking, 2022
9. Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)
9.1. OMNICELL, INC. (U.S.)
9.2. ARxIUM, Inc. (U.S.)
9.3. MCKESSON CORPORATION (U.S.)
9.4. Swisslog Healthcare (Switzerland)
9.5. RxSafe, LLC. (U.S.)
9.6. Becton, Dickinson and Company (BD)
9.7. Capsa Healthcare (U.S.)
9.8. TOSHO Inc. (Japan)
9.9. Medical Packaging Inc., LLC (U.S.)
9.10. TouchPoint, Inc. (U.S.)
9.11 Noritsu Pharmacy Automation (U.S.)
9.12. Körber AG (Germany)
9.13. ScriptPro LLC (U.S.)
(Note: SWOT Analysis of the Top 5 Companies Will Be Provided)
10. Appendix
10.1. Available Customization
10.2. Related Reports
List of Tables
Table 1 Global Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 2 Global Automated Medication Dispensing Systems Market, by Country/Region, 2021–2030 (USD Million)
Table 3 Global Automated Packaging & Labelling Systems Market, by Country/Region, 2021–2030 (USD Million)
Table 4 Global Automated Storage & Retrieval Systems Market, by Country/Region, 2021–2030 (USD Million)
Table 5 Global Automated Medication Compound Systems Market, by Country/Region, 2021–2030 (USD Million)
Table 6 Global Automated Table-top Tablet and Capsule Counters Market, by Country/Region, 2021–2030 (USD Million)
Table 7 Global Automated Pharmacy Robots Market, by Country/Region, 2021–2030 (USD Million)
Table 8 Global Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 9 Global Pharmacy Automation Market for Retail Pharmacies, by Country/Region, 2021–2030 (USD Million)
Table 10 Global Pharmacy Automation Market for Hospital Pharmacies, by Country/Region, 2021–2030 (USD Million)
Table 11 Global Pharmacy Automation Market for Other End Users, by Country/Region, 2021–2030 (USD Million)
Table 12 Global Pharmacy Automation Market, by Country/Region, 2021–2030 (USD Million)
Table 13 North America: Pharmacy Automation Market, by Country, 2021–2030 (USD Million)
Table 14 North America: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 15 North America: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 16 U.S.: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 17 U.S.: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 18 Canada: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 19 Canada: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 20 Europe: Pharmacy Automation Market, by Country, 2021–2030 (USD Million)
Table 21 Europe: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 22 Europe: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 23 U.K.: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 24 U.K.: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 25 Germany: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 26 Germany: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 27 France: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 28 France: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 29 Italy: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 30 Italy: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 31 Spain: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 32 Spain: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 33 Rest of Europe: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 34 Rest of Europe: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 35 Asia-Pacific: Pharmacy Automation Market, by Country, 2021–2030 (USD Million)
Table 36 Asia-Pacific: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 37 Asia-Pacific: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 38 China: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 39 China: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 40 Japan: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 41 Japan: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 42 India: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 43 India: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 44 Australia: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 45 Australia: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 46 South Korea: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 47 South Korea: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 48 Rest of Asia-Pacific: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 49 Rest of Asia-Pacific: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 50 Latin America: Pharmacy Automation Market, by Country, 2021–2030 (USD Million)
Table 51 Latin America: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 52 Latin America: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 53 Middle East & Africa: Pharmacy Automation Market, by Product, 2021–2030 (USD Million)
Table 54 Middle East & Africa: Pharmacy Automation Market, by End User, 2021–2030 (USD Million)
Table 55 Recent Developments, by Company, 2020–2024
List of Figures
Figure 1 Research Process
Figure 2 Key Secondary Sources
Figure 3 Primary Research Techniques
Figure 4 Key Executives Interviewed
Figure 5 Breakdown of Primary Interviews (Supply Side & Demand Side)
Figure 6 Market Size Estimation
Figure 7 Global Pharmacy Automation Market, by Product, 2024—2030 (USD Million)
Figure 8 Global Pharmacy Automation Market, by End User, 2024—2030 (USD Million)
Figure 9 Global Pharmacy Automation Market, by Geography, 2024—2030 (USD Million)
Figure 10 Impact Analysis: Global Pharmacy Automation Market
Figure 11 Market Dynamics: Global Pharmacy Automation Market
Figure 12 Global Pharmacy Automation Market, by Product, 2024 Vs. 2030 (USD Million)
Figure 13 Global Pharmacy Automation Market, by End User, 2024 Vs. 2030 (USD Million)
Figure 14 Global Pharmacy Automation Market, by Geography, 2024 Vs. 2030 (USD Million)
Figure 15 Global Pharmacy Automation Market, by Product, 2024 Vs. 2030 (USD Million)
Figure 16 Global Pharmacy Automation Market, by End User, 2024 Vs. 2030 (USD Million)
Figure 17 Global Pharmacy Automation Market, by Geography, 2024 Vs. 2030 (USD Million)
Figure 18 Global Pharmacy Automation Market Snapshot
Figure 19 Key Growth Strategies Adopted by Leading Players (2020–2024)
Figure 20 Global Pharmacy Automation Market: Vendor Dashboard
Figure 21 Global Pharmacy Automation Market: Competitive Benchmarking, by Product
Figure 22 OMNICELL, INC.: Financial Snapshot, 2022
Figure 23 MCKESSON CORPORATION: Financial Snapshot, 2022
Figure 24 Becton, Dickinson and Company: Financial Snapshot, 2022
Figure 25 Körber AG: Financial Snapshot, 2022
Author Name:
Proudly Partnering With Enterprises Around the Globe
Quick Contact
Related Reports
Europe NGS Automation Market - Opportunity Analysis and Industry Forecast (2024-2030)
Published Date: Jul-2024
Clinical Lab Automation Market - Global Opportunity Analysis and Industry Forecast (2024-2031)
Published Date: Jan-2024
NGS Automation Market - Global Opportunity Analysis and Industry Forecast (2022-2029)
Published Date: Jun-2022
North America NGS Automation Market - Opportunity Analysis and Industry Forecast (2024-2030)
Published Date: Jul-2024
U.S. Real-World Evidence Solutions Market - Opportunity Analysis And Industry Forecast (2022-2029)
Published Date: Oct-2022
