Global Pharmacy Automation Devices Market

Pharmacy Automation Devices Market Size, Share, Growth Analysis, By Product(Medication Dispensing Systems, Robots/Robotic Automated Dispensing Systems, Carousels, Automated Dispensing Cabinets), By End-User(Retail Pharmacy, Inpatient Pharmacies, Outpatient Pharmacies, Pharmacy Benefit Management Organizations), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35J2079 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 70 | Figures: 75

Pharmacy Automation Devices Market News

  • In January 2023, Leading supplier of pharmacy automation systems Omnicell, Inc., introduced the Omnicell XR-100, a new robotic dispensing system. The XR-100 is made to automate the distribution of pharmaceuticals in healthcare facilities like hospitals.
  • In February 2023, The ScriptPro MedStation, a brand-new medication management system, was launched by ScriptPro LLC, a provider of pharmacy automation solutions. The automated medication dispensing system known as the MedStation is intended for use in retail pharmacies.
  • In March 2023, the debut of the Parata Pharmacy Platform, a new software platform from pharmacy automation solutions supplier Parata Systems LLC, was announced. In order to manage pharmacy automation systems and enhance patient safety, pharmacies can use the Pharmacy Platform.
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Pharmacy Automation Devices Market size was valued at USD 5.6 Billion in 2022 and is poised to grow from USD 6.15 Billion in 2023 to USD 12.99 Billion by 2031, at a CAGR of 9.8% during the forecast period (2024-2031). 

The competitive landscape of the pharmacy automation devices market is marked by a diverse range of players vying for market share and innovation. Established healthcare technology companies, such as BD (Becton, Dickinson and Company), Omnicell, Inc., and McKesson Corporation, hold prominent positions due to their extensive portfolios of automated medication dispensing systems, robotics, and software solutions. These industry giants capitalize on their established presence and strong distribution networks to serve healthcare institutions and pharmacies globally. 'BD (Becton, Dickinson and Company)', 'Omnicell, Inc.', 'McKesson Corporation', 'Parata Systems', 'Capsa Healthcare', 'ScriptPro LLC', 'Aesynt Incorporated', 'ARxIUM', 'Swisslog Healthcare', 'Talyst, a Swisslog Company', 'Cerner Corporation', 'TCGRx', 'Innovation Associates, Inc.', 'Pearson Medical Technologies', 'R/X Automation Solutions', 'Yuyama', 'KUKA AG (formerly Swisslog)', 'RxSafe, LLC', 'TouchPoint Medical', 'Accu-Chart Plus Healthcare Systems, Inc.'

The deployment of pharmacy automation systems is driven by the utmost concern for patient safety and the requirement to reduce medication mistakes. These solutions guarantee accurate drug dispensing, lowering the possibility of unfavorable effects and enhancing patient results.

Technological Advancements and Integration: Robotics, AI, machine learning, and the Internet of Things (IoT) have all been rapidly advancing in the market for pharmacy automation systems. Devices are using these technologies to increase accuracy, increase workflow effectiveness, and offer real-time data analytics enabling better decision-making.

The dynamics of the pharmacy automation devices market vary considerably by region, with North America ranking as the largest market. The extensive use of pharmacy automation systems has been fueled by the region's well-established healthcare infrastructure, adoption of cutting-edge technology, and strict rules on patient safety and medication management. Due to its wide network of pharmacies and healthcare institutions, the United States particularly dominates the industry in North America and serves as a focal point for advancements in pharmacy automation technology. The demand for effective medication management and dispensing systems, together with a focus on lowering medication mistakes and improving patient care, are further driving the market expansion.

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Global Pharmacy Automation Devices Market

Report ID: SQMIG35J2079

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