Global Pharmacy Automation Systems Market is expected to grow at a CAGR of around 9.7% between 2024-31- Pheonix Research

NEW YORK, Jan. 9, 2024 /PRNewswire/ -- A latest research report [150+] pages. Phoenix Market Research, a distinguished provider of market intelligence and consulting services, has recently published a comprehensive report titled "Global Pharmacy Automation Systems Market Analysis 2024–2031." This in-depth analysis delves into the evolving landscape of pharmacy automation, offering valuable insights into market dynamics, competitive landscapes, technological advancements, and growth opportunities. In this report, we present a detailed overview of the global pharmacy automation systems market, followed by an in-depth regional analysis to provide stakeholders with a thorough understanding of the market trends shaping the pharmaceutical automation landscape.

Market Overview

The global pharmacy automation systems market has witnessed remarkable growth in recent years, driven by the increasing demand for efficient and accurate medication management solutions. With healthcare systems worldwide facing challenges related to rising prescription volumes, medication errors, and the need for improved patient care, pharmacy automation systems have emerged as essential tools for streamlining processes and enhancing overall operational efficiency.

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Key Findings of the Report

Market Growth and Size: The Global Pharmacy Automation Systems Market has exhibited remarkable growth, with a CAGR of 10% from 2024 to 2031. The market size is estimated to reach 22.8 billion by 2031, reflecting the increasing adoption of pharmacy automation systems.

Market Analysis

Technological Advancements: The rapid integration of advanced technologies, including robotics and artificial intelligence, has significantly contributed to the growth of the pharmacy automation systems market. These innovations aim to enhance accuracy, speed, and overall efficiency in medication dispensing processes.

Increasing Prescription Volumes: A surge in prescription volumes, attributed to factors such as population growth and the prevalence of chronic diseases, has propelled the demand for automation solutions. Pharmacy automation systems address the challenge of handling high prescription volumes effectively.

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Challenges and Opportunities:

Regulatory Compliance: Stringent regulatory standards in the pharmaceutical industry pose challenges for market players. However, they also present opportunities for companies that can navigate regulatory complexities and provide solutions that comply with industry standards.

Global Pandemic Impact: The COVID-19 pandemic has accelerated the adoption of pharmacy automation systems, emphasizing the need for contactless and efficient healthcare services. This presents an opportunity for market players to address the evolving requirements of the healthcare sector.

Market Trends:

Focus on Patient-Centric Care: There is a noticeable shift towards patient-centric care in the healthcare industry. Pharmacy automation systems contribute to this trend by minimizing medication errors, ensuring accurate dispensing, and allowing healthcare professionals to dedicate more time to patient counseling and care.

Regional Insights

North America

North America stands at the forefront of the pharmacy automation systems market, driven by its advanced healthcare infrastructure and robust technological innovation. The region has a well-established network of hospitals, clinics, and pharmacies, providing an ideal environment for the adoption of sophisticated pharmacy automation solutions.

Europe

Europe follows North America in the adoption of pharmacy automation systems. The region's diverse healthcare systems, from nationalized healthcare in some countries to private systems in others, present both challenges and opportunities for market players.

Asia-Pacific

The Asia-Pacific region is witnessing rapid growth in the adoption of pharmacy automation systems, fueled by increasing healthcare expenditures, technological advancements, and the recognition of the importance of efficient medication management.

Latin America

The Latin America pharmacy automation systems market is experiencing steady growth, driven by increasing healthcare investments, rising chronic diseases, and the need for operational efficiency. Key players, adapting to regional healthcare dynamics, offer automated solutions to enhance medication management. Regulatory support and a growing awareness of technology's role in healthcare contribute to the expanding market landscape in Latin America.

Middle East and Africa

The Middle East & Africa pharmacy automation systems market is witnessing notable growth, propelled by an expanding healthcare sector, increasing chronic disease prevalence, and a focus on technological advancements. Market players are introducing automated solutions to optimize medication processes, addressing the region's healthcare challenges and fostering enhanced patient care.

Future Outlook

The future outlook for the global Pharmacy Automation Systems Market is optimistic, with several factors contributing to sustained growth. Key drivers include:

• Technological Advancements: Continued progress in robotics, artificial intelligence, and data analytics reshapes the market landscape.
• Increasing Healthcare Demands: Rising prescription volumes drive the need for efficient medication management solutions.
• Patient Safety Focus: The industry's commitment to patient safety fuels innovation in automation systems.
• Regulatory Adaptation: Evolving regulatory landscapes are influencing market dynamics.
• Patient-Centric Care: The shift towards patient-centric care reinforces the market's expansion.
• Transformative Developments: Anticipation of further expansion and significant advancements in the coming years.

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Competitive Landscape

The competitive landscape of the Global Pharmacy Automation Systems Market is dynamic, characterized by leading players striving for market dominance through innovation and strategic initiatives. Companies like McKesson Corporation, Omnicell, and Becton, Dickinson and Company (BD) are prominent, leveraging technological prowess to offer comprehensive solutions. Strategic collaborations and acquisitions are common, as firms aim to expand their product portfolios and global reach. The market's competitiveness is fuelled by the continuous evolution of automation technologies, ensuring companies remain at the forefront of innovation to meet the increasing demands of healthcare providers for efficient, accurate, and patient-focused pharmacy automation solutions.

Recommendations

Based on the findings of the report, Phoenix Research offers the following recommendations for industry stakeholders:

• Research and Development Focus:

Prioritize continuous R&D efforts for technological advancements, such as AI and robotics.

• Global Collaboration Strategy:

Form strategic partnerships with regional players to facilitate market entry and customization.

• egulatory Adherence Commitment:

Allocate resources for consistent compliance with global healthcare regulations.

• Cybersecurity Priority:

Implement robust cybersecurity measures to safeguard patient data and system integrity.

• Regional Customization Approach:

Tailor solutions based on diverse regional healthcare infrastructures and regulatory landscapes.

• Training Program Investment:

Develop and contribute to training programs for healthcare professionals for efficient system utilization.

• Interoperability Integration:

Align systems with healthcare interoperability trends for seamless integration with EHRs.

• Cloud-Based Solutions Exploration:

Invest in cloud technologies to offer scalability, flexibility, and remote access.

• Sustainability Practices Adoption:

Address environmental concerns with eco-friendly practices in system design and operation.

• Stakeholder Education Initiative:

Actively engage in educational efforts to raise awareness about system benefits and safety features.

About Pheonix Research

Pheonix Research is a globally recognized market research firm dedicated to providing comprehensive insights and analyses across various industries. With a team of experts and a commitment to excellence, Pheonix Research strives to empower businesses and decision-makers with accurate and actionable intelligence.

Pheonix Research's Methodology

To compile this detailed report, Pheonix Research employed a robust and multifaceted research methodology. Primary research involved in-depth interviews with industry experts, farmers, and key stakeholders, while secondary research encompassed a thorough analysis of existing literature, industry reports, and market data. The findings were then meticulously validated through a combination of quantitative and qualitative analyses.

Table of Content

1. Introduction

1.1 Scope of the Study

1.2 Phoenix Market Research Report Guidance

1.3 Market Segmentation

1.3.1 Global Pharmacy Automation Equipment Market – By Type

1.3.2 Global Pharmacy Automation Equipment Market – By End User

1.3.3 Global Pharmacy Automation Equipment Market– By Country

2. Pharmacy Automation Equipment Market– Key Highlights

3. Research Methodology

4. Global Pharmacy Automation Equipment Market– Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1  PEST Analysis

4.3 Ecosystem Analysis

5. Pharmacy Automation Equipment Market– Industry Dynamics

5.1 Market Drivers

5.1.1 Driver 1

5.1.2 Driver 2

5.1.3  Driver 3

5.2 Market Restraints

5.2.1 Restraint 1

5.2.2  Restraint 2

5.3 Market Opportunities

5.3.1 Opportunity 1

5.3.2  Opportunity 2

5.4 Future Trends

5.4.1 Technological Developments

6. Pharmacy Automation Equipment Market– Global Analysis

6.1 Global Pharmacy Automation Equipment Market Revenue Forecast and Analysis

7. Pharmacy Automation Equipment Market Analysis – By Type

7.1 Overview

7.2 Pharmacy Automation Equipment Market Revenue Share, by Type (2023 and 2031)

7.3 Automated Medication Dispensing Systems

7.3.1 Overview

7.3.2 Automated Medication Dispensing Systems: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (US$ Million)

7.4 Automated Storage & Retrieval Systems

7.4.1 Overview

7.4.2 Automated Storage & Retrieval Systems: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (US$ Million)

7.5 Automated Packaging & Labeling Systems

7.5.1 Overview

7.5.2 Automated Packaging & Labeling Systems: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (US$ Million)

7.6 Tabletop Tablet Counters

7.6.1 Overview

7.6.2 Tabletop Tablet Counters: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (US$ Million)

7.7 Automated Compounding Devices

7.7.1 Overview

7.7.2 Automated Compounding Devices: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (US$ Million)

8. Pharmacy Automation Equipment Market – By End-User

8.1 Overview

8.2 Pharmacy Automation Equipment Market, by End-User, 2023 and 2031 (%)

8.3 Hospital Pharmacy

8.3.1 Overview

8.3.2 Hospital Pharmacy: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031(US$ Million)

8.4 Retail Pharmacy

8.4.1 Overview

8.4.2 Retail Pharmacy: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (US$ Million)

8.5 Others

8.5.1 Overview

8.5.2 Others: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (US$ Million)

9. Pharmacy Automation Equipment Market Analysis and Forecasts to 2031 – Global Analysis

9.1 Global: Pharmacy Automation Equipment Market

          9.2  Pharmacy Automation Equipment Market, by Region, 2023 & 2031 (%)

          9.3  North America Pharmacy Automation Equipment Market to 2031 (US$ Million)

9.3.1 US: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.3.1.1 US: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.3.1.2 US: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.3.1.3 US: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

9.3.2 Canada: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.3.2.1 Canada: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.3.2.2 Canada: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.3.2.3 Canada: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

9.3.3 Mexico: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.3.3.1 Mexico: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.3.3.2 Mexico: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.3.3.3 Mexico: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

            9.4  Europe Pharmacy Automation Equipment Market to 2031 (US$ Million)

9.4.1 Germany: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.4.1.1 Germany: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.4.1.2 Germany: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.4.1.3 Germany: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

9.4.2 France: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.4.2.1 France: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.4.2.2 France: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.4.2.3 France: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

9.4.3 Italy: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.4.3.1 Italy: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.4.3.2 Italy: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.4.3.3 Italy: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

9.4.4 Spain: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.4.4.1 Spain: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.4.4.2 Spain: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.4.4.3 Spain: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

9.4.5 UK: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.4.5.1 UK: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.4.5.2 UK: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.4.5.3 UK: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

9.4.6 Rest of Europe: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.4.6.1 Rest of Europe: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.4.6.2 Rest of Europe: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.4.7.3 Rest of Europe: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

        9.5  Asia Pacific Pharmacy Automation Equipment Market to 2031 (US$ Million)

9.5.1 China: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.5.1.1 China: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.5.1.2 China: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.5.1.3 China: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

9.5.2 India: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.5.2.1 India: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.5.2.2 India: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.5.2.3 India: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

9.5.3 Australia: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.5.3.1 Australia: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.5.3.2 Australia: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.5.3.3 Australia: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

9.5.4 Japan: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.5.4.1 Japan: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.5.4.2 Japan: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.5.4.3 Japan: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

9.5.5 South Korea: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.5.5.1 South Korea: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.5.5.2 South Korea: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.5.5.3 South Korea: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

9.5.6 Rest of Asia Pacific: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.5.6.1 Rest of Asia Pacific: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.5.6.2 Rest of Asia Pacific: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.5.7.3 Rest of Asia Pacific: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

        9.6  Middle East & Africa Pharmacy Automation Equipment Market to 2031 (US$ Million)

9.6.1 Saudi Arabia: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.6.1.1 Saudi Arabia: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.6.1.2 Saudi Arabia: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.6.1.3 Saudi Arabia: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

9.6.2 South Africa: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.6.2.1 South Africa: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.6.2.2 South Africa: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.6.2.3 South Africa: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

9.6.3 UAE: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.6.3.1 UAE: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.6.3.2 UAE: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.6.3.3 UAE: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

9.6.4 Rest of Middle East & Africa: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.6.4.1 Rest of Middle East & Africa: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.6.4.2 Rest of Middle East & Africa: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.6.4.3 Rest of Middle East & Africa: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

        9.7  South & Central America Pharmacy Automation Equipment Market to 2031   (US$        Million)

9.7.1 Brazil: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.7.1.1 Brazil: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.7.1.2 Brazil: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.7.1.3 Brazil: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

9.7.2 Argentina: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.7.2.1 Argentina: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.7.2.2 Argentina: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.7.2.3 Argentina: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

9.7.3 Rest of South & Central America: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.7.3.1 Rest of South & Central America: Pharmacy Automation Equipment Market – Revenue and Forecast to 2031 (USD Million)

9.7.3.2 Rest of South & Central America: Pharmacy Automation Equipment Market, by Type, 2019–2031 (USD Million)

9.7.3.3 Rest of South & Central America: Pharmacy Automation Equipment Market, by End-User, 2019–2031 (USD Million)

10. Impact Of COVID-19 Pandemic on Global Pharmacy Automation Equipment Market

10.1 Global: Impact Assessment of COVID-19 Pandemic

11. Pharmacy Automation Equipment Market– Industry Landscape

11.1 Product Benchmarking

11.2 Heat Map Analysis- Top Players

12. Company Profiles

12.1 Swisslog Healthcare AG

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 Capsa Healthcare

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 YUYAMA Manufacturing Co. Ltd.

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 MCKESSON CORPORATION

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 BD

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 Omnicell Inc

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

12.7 Oracle Corp

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 Deenova Srl

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Products and Services

12.8.4 Financial Overview

12.8.5 SWOT Analysis

12.8.6 Key Developments

12.9 ScriptPro LLC

12.9.1 Key Facts

12.9.2 Business Description

12.9.3 Products and Services

12.9.4 Financial Overview

12.9.5 SWOT Analysis

12.9.6 Key Developments

12.10 Veradigm LLC

12.10.1 Key Facts

12.10.2 Business Description

12.10.3 Products and Services

12.10.4 Financial Overview

12.10.5 SWOT Analysis

12.10.6 Key Developments

13. Appendix

13.1 About Phoenix Market

13.2 Glossary of Terms

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