Revolutionary Growth: Pharmacy Automation Market to Reach $7.87 Billion by 2030

Posted July 10, 2024 by roshanikale

Pharmacy Automation Market by Product (Automated Medication Dispensing, Packaging & Labeling, Storage & Retrieval, Medication Compounding Systems, Table-top Counters, and Pharmacy Robots), End User (Retail, Hospital Pharmacies)
Meticulous Research® recently released a report titled "Pharmacy Automation Market by Product and End User - Global Forecast to 2030," revealing significant growth prospects.

The pharmacy automation market is predicted to grow at a CAGR of 7.6% from 2023, reaching $7.87 billion by 2030. Key growth drivers include the integration of AI in pharmacy operations, the push for automation to reduce labor expenses, the adoption of robotic technologies, and innovations that minimize medication errors. The introduction of compact automated systems and increased healthcare spending in emerging markets also contribute to growth opportunities.

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Challenges include stringent regulatory environments and the high costs associated with automation systems, which can deter adoption.

Key Industry Players
Notable players in the market are Omnicell, Inc. (U.S.), ARxIUM, Inc. (U.S.), MCKESSON CORPORATION (U.S.), Swisslog Healthcare (Switzerland), RxSafe, LLC. (U.S.), Becton, Dickinson and Company (U.S.), Capsa Healthcare (U.S.), TOSHO Inc. (Japan), Medical Packaging Inc., LLC (U.S.), TouchPoint, Inc. (U.S.), Noritsu Pharmacy Automation (U.S.), Körber AG (Germany), and ScriptPro LLC (U.S.).

Future Market Prospects
The report analyzes the market by components, end users, and regions. Automated medication dispensing systems are expected to lead the market in 2023, due to their efficiency in reducing errors and enhancing patient care. Retail pharmacies are projected to hold the largest market share among end users, benefiting from automation in personalized medication packaging and improved patient adherence.

Regional Analysis
The report examines key regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is predicted to dominate the market in 2023, supported by the growing adoption of automation technologies and government initiatives.

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Issued By roshani
Country United States
Categories Health
Tags pharmacy automation market
Last Updated July 10, 2024