Pharmacy Automation Market to Grow at 7.6% CAGR by 2030: A Comprehensive Analysis

Meticulous Research®, a renowned name in the market research sector, has released an insightful report titled “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)

Global Forecast to 2030.” According to the findings of this report, the global pharmacy automation market is projected to achieve a compound annual growth rate (CAGR) of 7.6% from 2024, with an anticipated market size reaching $7.87 billion by 2030.

The expansion of this market can be primarily attributed to several key drivers. The increasing integration of artificial intelligence (AI) into pharmacy operations, the growing emphasis on automation to cut down labor expenses, and the rising adoption of robotics within automation processes are all contributing to the market’s growth. Additionally, the demand for technological innovations that reduce medication errors is playing a critical role in boosting this sector. As healthcare expenses continue to rise in emerging markets, and with the advent of more compact and efficient pharmacy automation systems, substantial opportunities are emerging for companies operating in this space.

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Nevertheless, the market faces certain obstacles. Stringent regulatory frameworks and the high costs associated with adopting pharmacy automation systems are key factors impeding the market’s full potential. These factors are causing hesitation among some stakeholders, thereby restricting market growth.

 Key Players in the Pharmacy Automation Market

The market is characterized by the presence of numerous key players, including 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 Prospects for the Pharmacy Automation Market

The study segments the pharmacy automation market by components, including automated medication dispensing systems, packaging & labeling systems, storage & retrieval systems, medication compounding systems, table-top tablet and capsule counters, as well as end-users, which encompass retail and hospital pharmacies, among others. The report also conducts a regional analysis, evaluating competitors and the broader market dynamics at the country and regional levels.

In 2024, the automated medication dispensing systems segment is anticipated to hold the largest share of the pharmacy automation market. The dominance of this segment can be linked to several advantages, such as reduced medication errors, enhanced safety, higher productivity due to quicker dispensing times, and overall improvements in patient care. These systems prove invaluable in emergency situations, offering healthcare providers swift and efficient access to medications, both during and after pharmacy hours.

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In terms of end users, the retail pharmacy segment is expected to command the largest share of the market in 2024. Automation offers retail pharmacies several advantages, including cost reduction, operational efficiencies, and the ability to offer personalized medication services. The technology allows pharmacies to tailor medication packaging to individual patient needs, enhancing patient satisfaction and medication adherence. Moreover, automation enables retail pharmacies to expand their services, which, in turn, fuels the growth of this segment.

 Regional Insights

This report provides an in-depth geographic analysis of major regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is projected to account for the largest share of the global pharmacy automation market in 2024. This dominance is due to factors such as the widespread adoption of automation technology, a growing number of centralized pharmacies, increasing demand for personalized medication packaging, and strong government support for technological advancements in healthcare.

Check complete table of contents with list of table and figures:  https://www.meticulousresearch.com/product/pharmacy-automation-market-5700

 Key questions answered in the report:

• Which are the high-growth market segments in terms of product, end user, and geography?
• What was the historical market for pharmacy automation across the globe?
• What are the market forecasts and estimates for the period 2024–2030?
• What are the major drivers, restraints, opportunities, and challenges in the pharmacy automation market?
• Who are the major players in the pharmacy automation market?
• What is the competitive landscape, and who are the market leaders in the pharmacy automation market?

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