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How Will the Pharmacy Automation Devices Market Grow Over the Forecast Period Based on Its Expected CAGR?

In the last few years, there has been a swift expansion in the market size of pharmacy automation devices. It is projected to rise from a valuation of $6.06 billion in 2024 to around $6.73 billion in 2025, demonstrating a compound annual growth rate (CAGR) of approximately 10.9%. Key factors driving the growth during this historic period include an upswing in the volume of prescriptions, the need to decrease errors, the pressure to heighten operational efficiency, the necessity to comply with regulations, shortages in pharmacy personnel, an increase in patient demand for speedy service, and the complications involved in managing inventory.

In the coming years, the market size of pharmacy automation devices promises a quick expansion. The projected scale of growth suggests it will reach $10.1 billion in 2029 with a compound annual growth rate (CAGR) of 10.7%. The predicted growth during this period can be linked to the worldwide extension of pharmacy services, optimization of pharmacy workflow, increased focus on preventive care, patient-oriented medication management, concentration on sustainable methods, and growth of telemedicine services. Dominant trends for this forecast period encompass the integration of robotics and automation, the utilization of centralized automated dispensing systems (CADS), incorporation of artificial intelligence (AI), telepharmacy services, medication verification technologies, and automated prescription filling machines.

Which Macro and Microeconomic Factors Are Accelerating the Growth of the pharmacy automation devices Market?

The expansion of the pharmacy automation devices market is anticipated to be driven by an increase in prescription orders. This surge is attributed to an older population, a higher incidence of chronic diseases, and broader healthcare services access. These automation devices streamline the prescription process, minimize human errors and enhance efficiency to deal with the escalating number of prescriptions. For example, reports from the Australian Institute of Health and Welfare, a government agency in Australia, indicate that in 2022–23, 17.8 million Australians were prescribed PBS medications, accounting for 67% of the population. Prescription rates increased with age, the lowest rates being amongst individuals aged between 0–14 (184 prescriptions per 100 people in this age group), while the highest rates were noted in individuals aged 85 and over (6,031 prescriptions per 100 people in this age group). Hence, the rapid expansion of prescription orders is fueling the growth in the pharmacy automation devices market.

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Who Are the Dominant Players Expanding Their Reach in the Pharmacy Automation Devices Market?

Major companies operating in the pharmacy automation devices market are:

• Omnicell Inc._x000D_

• McKesson Corporation_x000D_

• Baxter International Inc._x000D_

• Becton Dickinson & Company_x000D_

• Cerner Corporation_x000D_

What Are the Top Trends Shaping the Evolution of the Pharmacy Automation Devices Market?

In the pharmacy automation devices market, the primary trend is product innovation. Companies dominating this market are keen on creating unique and ground-breaking solutions tailored to consumer needs. For instance, in July 2023 Deenova, a top-tier Italian supplier of robotic and automation solutions, introduced its cutting-edge product line, AIDE. The launch consisted of two ingenious automation systems known as AIDE-CUT and AIDE-PICK designed for repackaging medicines into unit dosages and automating patient therapy dispensing, respectively. The introduction of these superior systems aims to augment operational efficiency and provide full medication traceability in hospital medication management processes.

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What Major Market Segments Define the Scope and Growth of the Pharmacy Automation Devices Market?

The pharmacy automation devices market covered in this report is segmented –

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

Subsegments:

1) By Medication Dispensing Systems: Automated Dispensing Machines, Robotic Dispensing Systems

2) By Packaging And Labeling Systems: Automated Packaging Machines, Labeling Systems For Prescription Medications

3) By Storage And Retrieval Systems: Automated Storage Systems, Carousel Storage Systems

4) By Automated Medication Compounding Systems: IV Compounding Systems, Oral Compounding Systems

5) By Tabletop Tablet Counters: Electronic Tablet Counters, Manual Tablet Counters

Which Regions Are Setting the Pace for Pharmacy Automation Devices Market Growth?

North America was the largest region in the pharmacy automation devices market in 2024. The regions covered in the pharmacy automation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Defines the Scope of the Pharmacy Automation Devices Market?

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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