The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s pharmacy automation devices market report forecasts the pharmacy automation devices market size to grow to $8.24 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%.

Learn More On The Pharmacy Automation Devices Market Report 2023 – https://www.thebusinessresearchcompany.com/report/pharmacy-automation-devices-global-market-report

Pharmacy Automation Devices Market Size Forecast
The global pharmacy automation devices market is expected to grow from $4.96 billion in 2022 to $5.52 billion in 2023 at a compound annual growth rate (CAGR) of 11.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The pharmacy automation devices market size is expected to grow to $8.24 billion in 2027 at a CAGR of 10.6%.

North America held the largest pharmacy automation devices market share.

Key Pharmacy Automation Devices Market Driver ­– Rise In Medicine Wastage
For instance, in October 2021, according to the report published by the National Library of Medicine, a US-based library of medicine, pharmaceutical supplies were the most wasteful class of medications, accounting for 37.1% of total waste. The highest class of pharmaceutical dosage form was tablet and injection, with overall wastage rates of 20.78% and 16.49%, respectively. The overall pharmaceutical wastage rate was 3.68%, amounting to USD 159,762.66 and the main cause of wastage (92.05%) was expiry. The rate of pharmaceutical waste in health centers was nearly twice that of hospitals. Therefore, the rising medicine wastage is driving the demand for the pharmacy automation devices market.

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Key Pharmacy Automation Devices Market Trend – Product Innovation
Major companies operating in the pharmacy automation devices market are focused on developing new and innovative solutions to meet customer demand. For instance, in August 2021, Innovative Associates, a US-based software-enabled pharmacy automation devices firm, launched smartPod and iA Therapy Management Solutions to Diminish Prescription Filling Process Inefficiencies. SmartPod is an iA next-generation robot that provides revolutionary scale in a central fill pharmacy setting. SmartPod is an innovative autofill device with built-in modularity that enables pharmacy providers to change and scale their centralized fulfillment solutions to match demand. iA provides a treatment management solution for pharmacy providers looking for alternatives to the traditional bottle or vial dispensing methods using the BD RowaTM Pouch Packaging Solution. Using iA’s intelligent pharmacy operations software Innovative Associates aims to design a patient’s prescriptions in easy-to-open adherence pouch packs. This service can be centralized in a single fulfillment location.

Pharmacy Automation Devices Market Segment
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 and Mail-Order Pharmacies

Pharmacy Automation Devices Market Major Players and Strategies
Major players in the pharmacy automation devices market are Omnicell Inc., McKesson Co., Baxter International Inc., ScriptPro LLC, Becton Dickinson & Company, Cerner Corporation, ARxIUM, Capsa Healthcare, Script Pro, Deenova S.R.L., Swisslog Healthcare, RxSafe LLC, Yuyama Co., Ltd., Accu Chart Plus Healthcare Systems Inc., Amerisource Bergen Corp., Talyst LLC, Medacist Solutions Group, Kirby Lester, TouchPoint Medical, Kuka AG (Swisslog Healthcare), Danaher Corporation, and Lonza Group.

In June 2022, Becton, Dickinson, and Company, a US-based medical technology company, acquired Parata Systems for $1.5 billion. With this acquisition, Becton Dickinson aims to expand by introducing cutting-edge technology into more locations across the gamut of healthcare. Becton Dickinson would pay cash to acquire Parata with the commercialization of robotic systems that sort and package pills, automating much of the repetitious and manual job of pharmacists. Parata Systems is a US-based maker of robotics technologies that automate pharmacy tasks, it also offers the most comprehensive pharmacy automation portfolio.

The Pharmacy Automation Devices Global Market Report 2023 covers regional data on pharmacy automation devices market size, pharmacy automation devices market trends and drivers, opportunities, strategies, and pharmacy automation devices market competitor analysis. The countries covered in the pharmacy automation devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Pharmacy automation devices automate the distribution, sorting, packaging, and counting of prescription medications, which are used to minimize the possibility of errors and increase direct patient care.

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