Key Drivers and Opportunities in the Pharmacy Automation Systems Market: Insights into Trends and Growth
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What Long-Term Growth Rate is Expected for the Pharmacy Automation Systems Market Between 2025 and 2034?
Recent years have seen substantial growth in the market size of pharmacy automation systems. Forecasts indicate the market expanding from $5.86 billion in 2024 to $6.33 billion in 2025, representing a compound annual growth rate (CAGR) of 8.0%. The upward trend in the historical period is due to factors such as the eradication of manual drug delivery, enhanced pharmaceutical safety and a rise in medication mistakes.
Expectations for the pharmacy automation systems market suggest significant expansion in the upcoming years, swelling to a value of $8.53 billion by 2029, a progression marked by a compound annual growth rate (CAGR) of 7.8%. This anticipated growth across the projection period can be linked to the rise in the number of retail pharmacies, increasingly supportive governmental policies, and the growing trend towards embracing robotic pharmacy. Prominent trends forecasted for this period encompass product innovation, advancements in technology, and likely partnerships and collaborations.
Which Factors Are Enhancing the Growth of the Pharmacy Automation Systems Market?
The forecasted growth of the pharmacy automation systems market is linked to the escalating number of medication mistakes. Medication missteps involve errors or avoidable incidents regarding medication usage, which can take place at any stage in the healthcare journey, from prescription to administration and observation. Pharmacy automation systems keep precise and exhaustive records of dispensed medicines and patient histories, enabling healthcare professionals to easily access information and lessening the risk of errors resulting from incomplete or missing details. For example, in September 2022, the World Health Organization, a governmental agency based in Switzerland, reported that the frequency of medication errors in hospitals varied between 0.3% to 9.1% in prescriptions, and between 1.6% and 2.1% during the dispensing process in 2022. Moreover, the financial impact of medication errors in 2022 was estimated at €2 billion (2.17 billion), representing 3% of the total national health expenditure. Consequently, the growing prevalence of medication errors is fuelling the growth of the pharmacy automation systems market.
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What Are the Key Firms That Are Driving Transformation in the Pharmacy Automation Systems Market?
Major companies operating in the pharmacy automation systems market report are CVS Health, AmerisourceBergen Corporation, Cardinal Health, Kroger Company, Danaher Corporation, Rite Aid Corporation, Becton, Dickinson and Company, Cerner Corporation, Epic Systems Corporation, KUKA AG (Swisslog Healthcare), Automated Healthcare Systems Incorporated, Omnicell Inc., Swisslog Holdings AG, Parata Systems LLC, Scriptpro LLC, Capsa Healthcare, Arxium Inc., Talyst LLC, Kirby Lester LLC, Yuyama Co. Ltd., Rx Safe LLC, Pharmatech Corporation, Pearson Medical Technologies, Hy-Tek Medical Limited, Rotech Healthcare
What Current Trends in the Pharmacy Automation Systems Market Should Industry Players Pay Attention To?
Leading companies in the pharmacy automation systems marketplace are concentrating on producing innovative products, like medications repackaging systems, to maintain their market dominance. These systems, whether manual or automated, serve to repack drugs from large bulk containers into smaller, patient-tailored doses. To illustrate, in March 2022, Deenova Srl, a pharmacy automation systems company based in Italy, launched an innovative addition product for pharmacy automation systems, the EAHP D3. This consists of AIDE-Cut, AIDE-Pack, and AIDE-Pick. AIDE-Cut is a mechatronic system designed for packaging oral solid pharmaceuticals in unit doses, while AIDE-Pack is used to repackage all types of pharmaceuticals, both oral and non-oral, into unit dose format. A data matrix code encapsulating vital information about the drug including batch and expiration dates, unique serialization number, and medication code identifies each unit dose. Lastly, Deenova D3 series solution AIDE-Pick is employed in the centralized preparation of therapy in sub-acute and multi-site healthcare facilities.
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What Are the Main Segments of the Pharmacy Automation Systems Market, and How Are They Evolving?
The pharmacy automation systems market covered in this report is segmented –
1) By Product Type: Automated Medication Dispensing Systems, Automated Medication Compounding Systems, Automated Packaging And Labelling Systems, Automated Table Top Counters, Automated Storage And Retrieval Systems
2) By Mode Of Automation: Semi-Automatic Systems, Fully-Automatic Systems
3) By End User: Inpatient Pharmacies, Outpatient Pharmacies, Retail Pharmacies, Pharmacy Benefit Management Organizations And Mail-Order Pharmacies
Subsegments:
1) By Automated Medication Dispensing Systems: Centralized Dispensing Systems, Decentralized Dispensing Systems
2) By Automated Medication Compounding Systems: IV Compounding Systems, Oral Compounding Systems
3) By Automated Packaging And Labelling Systems: Blister Packaging Systems, Bottle Filling And Labelling Systems
4) By Automated Tabletop Counters: Tablet Counters, Capsule Counters
5) By Automated Storage And Retrieval Systems: Robotic Storage Systems, Carousel Systems
What Regions Are Driving Expansion in the Pharmacy Automation Systems Market?
North America was the largest region in the pharmacy automation systems market in 2024. The regions covered in the pharmacy automation systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does the Definition of the Pharmacy Automation Systems Market Include?
Pharmacy automation systems refer to a range of technologies designed to streamline and enhance the processes within a pharmacy setting. These systems aim to improve efficiency, accuracy, and safety in medication handling, inventory management, and prescription filling.
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