What is Global Pharmacy Automation Equipment Market?
The Global Pharmacy Automation Equipment Market is a vast and dynamic sector that encompasses a wide range of technologies and systems designed to streamline and automate various pharmacy operations. This market includes equipment such as automatic drug dispensing systems, automatic packaging and labeling systems, automatic storage retrieval systems, and others. These technologies are designed to improve efficiency, reduce errors, and enhance patient safety in the pharmacy setting. The market is driven by a variety of factors, including the growing need for medication error reduction, the increasing demand for efficient and streamlined pharmacy operations, and the rising adoption of pharmacy automation systems in various healthcare settings. However, the market also faces several challenges, such as the high cost of pharmacy automation systems and the lack of awareness about these technologies in some regions. Despite these challenges, the Global Pharmacy Automation Equipment Market is expected to witness significant growth in the coming years, driven by the increasing adoption of these technologies in various healthcare settings.
Automatic Drug Dispensing Equipment, Automatic Packaging and Labeling Equipment, Automatic Storage Retrieval Equipment, Others in the Global Pharmacy Automation Equipment Market:
The Global Pharmacy Automation Equipment Market is segmented based on the type of equipment, including automatic drug dispensing equipment, automatic packaging and labeling equipment, automatic storage retrieval equipment, and others. Automatic drug dispensing equipment, which includes technologies such as robotic prescription dispensing systems and automated medication dispensing systems, accounted for the largest market share in 2019, representing 42% of the total market. These systems are designed to automate the process of dispensing medication, thereby reducing the risk of medication errors and improving efficiency in the pharmacy setting. Automatic packaging and labeling equipment, on the other hand, are designed to automate the process of packaging and labeling medications, thereby reducing the risk of errors and improving efficiency. Automatic storage retrieval equipment, meanwhile, are designed to automate the process of storing and retrieving medications, thereby improving efficiency and reducing the risk of errors. Other types of pharmacy automation equipment include technologies such as automated compounding devices and pharmacy workflow management systems.
Outpatient Pharmacy, Inpatient Pharmacy, Retail Pharmacy, Others in the Global Pharmacy Automation Equipment Market:
The Global Pharmacy Automation Equipment Market is also segmented based on the area of usage, including outpatient pharmacies, inpatient pharmacies, retail pharmacies, and others. Outpatient pharmacies, which are typically located in healthcare facilities such as hospitals and clinics, are a major end-user segment of the market. These pharmacies use pharmacy automation equipment to streamline their operations and improve patient safety. Inpatient pharmacies, which are typically located within hospitals, also use these technologies to improve efficiency and reduce errors. Retail pharmacies, meanwhile, use pharmacy automation equipment to streamline their operations and improve customer service. Other areas of usage include long-term care facilities, mail-order pharmacies, and others.
Global Pharmacy Automation Equipment Market Outlook:
The Global Pharmacy Automation Equipment Market was valued at US$ 3061.6 million in 2022. It is projected to reach a value of US$ 4625.7 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 6.0% during the forecast period from 2023 to 2029. The largest share of the market in 2019 was held by the automatic drug dispensing equipment segment, which accounted for 42% of the total market. This significant market share can be attributed to the numerous benefits offered by these systems, including improved efficiency, reduced risk of medication errors, and enhanced patient safety.
| Report Metric | Details |
| Report Name | Pharmacy Automation Equipment Market |
| Accounted market size in 2022 | US$ 3061.6 million |
| Forecasted market size in 2029 | US$ 4625.7 million |
| CAGR | 6.0% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
|
| Segment by Application |
|
| Production by Region |
|
| Consumption by Region |
|
| By Company | BD, Omnicell, YUYAMA, Baxter International, Swisslog Healthcare, TOSHO, Takazono, Parata, ScriptPro, GENERAL HEALTHY, ARxIUM, Willach, IRON TECHNOLOGY, Beijing Red Maple Smart Control Technologies, HKC-med, LAOKEN |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
