The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Pharmacy Automation Systems Global Market Report 2024, the pharmacy automation systems market is expected to show significant growth in the forecast period.

Market Growth Overview
Recent Market Growth

• Strong Growth in Recent Years: The pharmacy automation systems market size has experienced robust growth, increasing from $5.42 billion in 2023 to $5.86 billion in 2024.
• Compound Annual Growth Rate (CAGR): The market has grown at a CAGR of 8.1%, attributed to the elimination of manual medicine delivery, increased pharmaceutical safety, and reduced medication errors.

Future Market Projections

• Continued Expansion: The market is projected to grow to $7.91 billion by 2028.
• Sustained CAGR: Expected to maintain a CAGR of 7.8%, driven by the rise of retail pharmacies, favorable government policies, and the growing adoption of robotic pharmacies.

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Factors Driving Market Growth
Rising Medication Errors

• Impact of Medication Errors: Medication errors, occurring during prescribing, dispensing, or administering medications, drive the demand for automation.
• Error Statistics: According to the WHO, medication errors in hospitals ranged from 0.3% to 9.1% in prescriptions and 1.6% to 2.1% at the dispensing stage in 2022.
• Cost of Errors: Medication errors cost €2 billion in 2022, representing 3% of total national healthcare expenditure.

Advantages of Pharmacy Automation

• Error Reduction: Automation systems maintain accurate records and reduce errors due to incomplete data.
• Efficiency and Safety: These systems improve the efficiency and safety of medication dispensing.

Key Market Players
Major Companies

• Leading Companies: Key players include CVS Health, AmerisourceBergen Corporation, Cardinal Health, Kroger Company, and Danaher Corporation, among others.
• Diverse Portfolio: These companies offer a wide range of pharmacy automation solutions catering to various needs.

Innovations and Trends
Next-Gen Robotics in Pharmacy Automation

• Robotic Pharmacies: Companies are increasingly adopting robotic pharmacies to enhance efficiency and patient safety.
• Example: Innovation Associates launched SmartPod in December 2021, a modular robotic prescription filling pod designed for central-fill pharmacy environments.
• Benefits: Robotic systems like SmartPod increase volumetric capacity and allow scalability.

Strategic Acquisitions

• Capsa Healthcare’s Acquisition: In February 2022, Capsa Healthcare acquired Humanscale Healthcare, strengthening its market position and expanding its product range.
• Broadened Solutions: This acquisition enables Capsa Healthcare to offer a wider range of healthcare delivery solutions.

Market Segmentation
Product Types

• Categories: Automated Medication Dispensing Systems, Automated Medication Compounding Systems, Automated Packaging and Labeling Systems, Automated Tabletop Counters, Automated Storage and Retrieval Systems.

Mode of Automation

• Types: Semi-Automatic Systems and Fully-Automatic Systems.

End Users

• Segments: Inpatient Pharmacies, Outpatient Pharmacies, Retail Pharmacies, Pharmacy Benefit Management Organizations, and Mail-Order Pharmacies.

Geographic Insights
Regional Dominance

• North America: The largest region in the pharmacy automation systems market in 2023, showcasing strong adoption and advanced healthcare infrastructure.

Conclusion
The pharmacy automation systems market is on a trajectory of significant growth driven by technological advancements, increased medication safety, and the rising adoption of robotic solutions. Major industry players and strategic acquisitions further bolster the market’s expansion, promising innovative and efficient solutions for the future of pharmaceutical management.

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