The Business Research Company’s market reports offer an in-depth analysis on the market’s growth potential, major drivers, key trends and more.

Rapid Growth and Forecast

• The pharmacy automation devices market size has surged in recent years.
• Expected growth from $5.5 billion in 2023 to $6.11 billion in 2024.
• Compound annual growth rate (CAGR) of 11.2% attributed to various factors.

Factors Driving Growth

• Increasing prescription volume.
• Demand for error reduction.
• Pressure to improve operational efficiency.
• Regulatory compliance requirements.
• Pharmacy workforce shortages.
• Patient demand for quick service.
• Inventory management challenges.

Anticipated Growth Trends

• Projected growth to $9.15 billion in 2028.
• Compound annual growth rate (CAGR) of 10.6%.
• Factors include globalization of pharmacy services, workflow optimization, and more.
• Major trends include adoption of robotics, AI integration, and telepharmacy services.

Rising Medicine Waste Drives Market Growth

• Medicine waste includes expired, unused, and contaminated pharmaceutical items.
• Automated dispensing machines reduce waste.
• Pharmaceutical supplies account for significant wastage.
• Rising medicine wastage drives demand for automation devices.
• Major companies in the market include Omnicell Inc., McKesson Corporation, and more.

Read More On The Pharmacy Automation Devices Market Report 2024 – https://www.thebusinessresearchcompany.com/report/pharmacy-automation-devices-global-market-report

Product Innovation Enhances Efficiency

• Key trend: product innovation.
• Companies focus on developing innovative solutions.
• Example: SmartPod and iA Therapy Management Solutions by Innovative Associates.
• Becton, Dickinson, and Company’s acquisition of Parata Systems for $1.5 billion.
• Parata Systems offers robotics technologies for pharmacy automation.

Market Segmentation

1. By Product:
   • Medication Dispensing Systems
   • Packaging And Labeling Systems
   • Storage And Retrieval Systems
   • Automated Medication Compounding Systems
   • Tabletop Tablet Counters
2. By End-User:
   • Retail Pharmacy
   • Inpatient Pharmacies
   • Outpatient Pharmacies
   • Pharmacy Benefit Management Organizations
   • Mail-Order Pharmacies

Regional Insights

• North America led the pharmacy automation devices market in 2023.

The pharmacy automation devices market is experiencing robust growth, driven by a combination of factors such as increased prescription volumes, regulatory demands, and the need for operational efficiency. The rise in medicine wastage has emerged as a significant concern, further propelling the adoption of automation solutions. Companies are investing in product innovation to meet evolving customer needs, introducing solutions like SmartPod and iA Therapy Management Systems.

The recent acquisition of Parata Systems by Becton, Dickinson, and Company underscores the industry’s focus on technological advancement and expansion. With a diverse range of products and end-users, the market offers ample opportunities for growth and innovation. As trends like robotics, AI integration, and telepharmacy services continue to shape the landscape, the pharmacy automation devices market is poised for sustained expansion in the coming years.

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