Top Growth Trends in the Pharmacy Automation Market: Key Insights and Opportunities for 2025-2034
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How Does the Projected Growth of the Pharmacy Automation Market Compare Over the Forecast Period?
In recent times, the market size for pharmacy automation has seen swift expansion. The market will surge from $7.32 billion in 2024 to $8.2 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 12.0%. The historic expansion is largely credited to the lack of competent pharmacy staff, rigorous regulations and standards, a drive to minimize medication errors, improved handling of data, and increasing consumer demand for speedier services.
In the ensuing years, the pharmacy automation market is anticipated to witness swift expansion. The projections suggest that by 2029, it will reach a valuation of $12.71 billion, with an annual growth rate of 11.6%. The surge during the forecast timeframe can be accredited to factors such as growing volume of prescriptions due to aging populace, expansion of retail pharmacy networks, emphasis on patient satisfaction, escalating employee expenses, and integration with electronic health records (EHR). Key trends during the forecast period include the use of AI-enabled systems, embracing tele pharmacy solutions, rising application of robotics, centralized systems for handling prescriptions, and the implementation of blockchain technology.
What Major Innovations Are Driving the Accelerated Growth of the Pharmacy Automation Market?
The rise in disease prevalence is expected to fuel the expansion of the pharmacy automation market in the future. The term disease rate reflects the frequency of a specific disease in a certain population over a defined time. Various factors cause an increase in disease rates, such as population growth, increased amounts of travel and commerce, changes in the climate, pollution, and the emergence of new infections or variations. Pharmacy automation is developed to reduce disease rates by simplifying drug dispensing procedures to improve precision and effectiveness in handling diseases. Pharmacy automation mechanisms can expedite the dispensing and monitoring of treatment, permitting healthcare practitioners to respond quickly if a patient’s state deteriorates. For example, the World Health Organization, an intergovernmental organization based in Switzerland, predicted, as of February 2024, that by 2050, more than 35 million new cancer cases would occur, marking a 77% rise compared to the approximately 20 million cases projected in 2022. Hence, the rise in the disease rate is propelling the expansion of the pharmacy automation market in the future.
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Who Are the Key Players Steering the Development of the Pharmacy Automation Market?
Major companies operating in the pharmacy automation market report are Mckesson Corporation; AmerisourceBergen Corporation; Oracle Corporation; Baxter International Inc.; Cerner Corporation; Pearson Medical Technologies LLC; Omnicell Inc.; Swisslog Holding AG; Tension Corporation; Noritsu Koki Co. Ltd.; Scriptpro LLC; Capsa Healthcare LLC; Alixar Healthcare Private Limited; Deenova S.R.L; ARxIUM Inc.; Talyst Systems LLC; Touchpoint Medical Solutions Pvt. Ltd.; Kirby Lester LLC; Yuyama Co. Ltd.; Willach GmbH; RxSafe LLC; Meditech Pharmacy Management Solutions Inc.; Accu-Chart Plus Healthcare System Inc.; PDX Pharmaceuticals Inc.; Newicon Ltd.
How Are Consumer Trends Shaping the Current and Future Landscape of the Pharmacy Automation Market?
Prominent businesses in the pharmacy automation market are striving to broaden their product collections by incorporating state-of-the-art pharmacy automation systems such as the latest generation of automated drug dispensing systems, in order to gain a superior position in the market. These cutting-edge automated drug dispensing systems incorporate advanced technologies to mechanize and simplify the procedure of dispensing medications in healthcare institutions. For instance, in October 2023, JVM Co. Ltd., a firm from South Korea specializing in pharmacy automation systems, introduced MENITH, an automated dispensing machine equipped with a robotic arm with complex movement. MENITH, a novel product from JVM, includes a multi-joint collaborative robot arm designed to fully automate the canister swap process. It boasts a dispensing speed more than double that of conventional pouch-type automated dispensing machines, along with the ability to dispense up to 120 pouches every minute. Additionally, it incorporates an automated inspection system that minimizes the time and resources needed for the pharmacy dispensing procedure.
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Which Industry Segments Are Leading the Development and Expansion of the Pharmacy Automation Market?
The pharmacy automation market covered in this report is segmented –
1) By Product: Dispensing Systems, Pill Sorting Machines, Labelling Machines, Packaging Machines, Inventory Management, Automated Storage and Retrieval Systems, Other Products
2) By Application: Drug Dispensing And Packaging, Drug Storage, Inventory Management
3) By End User: Inpatient Pharmacies, Outpatient Pharmacies, Retail Pharmacies, Pharmacy Benefit Management Organizations And Mail-Order Pharmacies
Subsegments:
1) By Dispensing Systems: Prescription Dispensing Systems, Automated Dispensing Cabinets, Robot-Assisted Dispensing
2) By Pill Sorting Machines: Manual Pill Sorting Machines, Automated Pill Sorting Machines
3) By Labelling Machines: Labeling For Bottles And Containers, Labeling For Blister Packs, Automated Label Application Machines
4) By Packaging Machines: Pill Packaging Machines, Blister Packaging Machines, Bottle Packaging Machines
5) By Inventory Management: Inventory Tracking Systems, Drug Replenishment Systems, Stock Auditing Systems
6) By Automated Storage And Retrieval Systems: Vertical Lift Modules (Vlms), Automated Shelving Systems, Carousel Storage Systems
7) By Other Products: Prescription Verification Systems, Pharmacy Workflow Automation Tools
Which Geographical Regions Are Shaping the Pharmacy Automation Market Growth?
North America was the largest region in the pharmacy automation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pharmacy automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Are the Key Characteristics That Define the Pharmacy Automation Market?
Pharmacy automation refers to the electronic methods used for distributing, sorting, packaging, and counting prescription medications. Pharmacy automation offers numerous advantages to pharmacy owners such as enhanced accuracy and efficiency, space optimization, improved security for narcotics, and better inventory control.
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