The Pharmacy Automation Solution Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pharmacy Automation Solution Global Market Report 2024, The pharmacy automation solution market size has grown rapidly in recent years. It will grow from $7.16 billion in 2023 to $7.94 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to increased prescription volume, medication error reduction, labor shortages in healthcare, regulatory compliance requirements, patient demand for convenience.
The pharmacy automation solution market size is expected to see rapid growth in the next few years. It will grow to $12.04 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to telehealth and remote pharmacy services, integration with electronic health records (ehrs), advanced medication management, pharmacy workload optimization, global healthcare trends. Major trends in the forecast period include inventory management solutions, patient-centric approaches, regulatory compliance, data analytics and reporting, interoperability with electronic health records (ehr).
The rising demand for pharmaceuticals is expected to propel the growth of the pharmacy automation solution market going forward. Pharmaceuticals are drugs or medications that prevent, diagnose, treat, or cure diseases or medical conditions. The pharmaceutical industry uses pharmacy automation solutions for drug delivery systems, tablet compression and coating, and liquid dosing as automation in the manufacturing process. For instance, in June 2023, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), a European trade association representing the pharmaceutical industry, the total pharmaceutical production in Europe accounted for $384,200 million (€340,000 million) in 2022, with an increase of approximately 4.95% from 366,267 million (€323,950 million) in 2021. Therefore, the rising demand for pharmaceuticals is driving the growth of the pharmacy automation solution market.
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The pharmacy automation solution market covered in this report is segmented –
1) By Type: Automated Medication Dispensing, Automated Packaging And Labeling, Automated Storage And Retrieval, Automated Medication Compounding, Other Types
2) By Automation Mode: Fully-Automatic, Semi-Automatic
3) By Applications: Inpatient Pharmacy, Outpatient Pharmacy, Retail Pharmacy, Other Applications
Product innovations are a key trend gaining popularity in the pharmacy automation solution market. Major companies operating in the pharmacy automation solution market are focused on developing innovative products to sustain their position in the market. For instance, in March 2022, Deenova Srl, an Italy-based pharmacy automation solutions company, launched the EAHP D3 innovative addition product for pharmacy automation solutions. The solutions include AIDE-Cut, AIDE-Pack, and AIDE-Pick, where AIDE-Cut is a mechatronic system for packing oral solid pharmaceuticals in unit doses. The AIDE-Pack is used to repackage all pharmaceutical types (oral and non-oral) in unit dose format. A data matrix code that summarizes the drug’s fundamental properties, including the batch and expiration dates, its unique serialization number, and its medication code, is used to identify each unit dose, and Deenova D3 series solution AIDE-Pick is used in centralized therapy preparation in sub-acute and multi-site healthcare facilities.
The pharmacy automation solution market report table of contents includes:
1. Executive Summary
2. Pharmacy Automation Solution Market Characteristics
3. Pharmacy Automation Solution Market Trends And Strategies
4. Pharmacy Automation Solution Market – Macro Economic Scenario
5. Global Pharmacy Automation Solution Market Size and Growth
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26. South America Pharmacy Automation Solution Market
27. Brazil Pharmacy Automation Solution Market
28. Middle East Pharmacy Automation Solution Market
29. Africa Pharmacy Automation Solution Market
30. Pharmacy Automation Solution Market Competitive Landscape And Company Profiles
Top Major Players:
- McKesson Corporation
- AmerisourceBergen Corporation
- Cerner Corporation
- MedAvail Technologies Inc
- Baxter International Inc
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