The Japanese pharmacy automation system market is expected to post a growth rate of 8.9% during the forecast period. Pharmacy Packaging and Labeling Systems segment is expected to have the highest CAGR during 2022 -2032
NEWARK, Del., October 20, 2022 /PRNewswire/ — The world pharmacy automation systems market is projected to reach a value of approximately $10.6 billion by 2032, with the market growing at a strong CAGR of 8.0% from 2022 to 2032. Valued at $4.6 million in 2021, the target market will probably reach $4.9 billion in 2022. The high use of pharmacy automation system in drug dispensing and packaging, drug storage and inventory management is driving the growth of the drug market. The growing interest in automating the daily operations of pharmacies around the world is complementing the growth of the pharmacy automation systems market during the forecast period.
Hospital and retail pharmacies are major contributors to the pharmacy automation systems market. More and more pharmacies around the world are adopting pharmacy automation systems to automate daily activities to reduce human intervention, improve operational efficiency and decrease excess stock. These systems are used by both inpatient and outpatient pharmacies. Pharmacy automation systems also include features such as the ability to meter personalized medications, track and update consumer information in a database, and monitor the entire inventory management and distribution procedure.
Consequently, they are a suitable replacement for manual dispensing in pharmacies. The installation of these systems has greatly improved the efficiency and safety of prescription drug storage, administration, filling, packaging and labeling. These considerations along with other factors like introduction of cost-effective automation solutions, incorporation of advanced technology in the target product, etc. are likely to drive the growth of pharmacy automation systems market during the forecast period.
Additionally, the growing awareness of the benefits of pharmacy automation technologies is encouraging many small and medium-sized healthcare hospitals and retail pharmacies to replace their traditional pharmacy operation practices with these systems. This will boost market prospects for the next decade.
“Increasing awareness of the advantages of pharmacy automation systems coupled with favorable government policies will complement the global growth of the pharmacy automation systems market during the forecast period,” says an FMI analyst.
- On a per end user basis, the Hospital Pharmacy segment will grow at a high CAGR over the forecast period.
- On an application basis, drug dispensing and packaging will continue to dominate global market growth.
- With 42.6% of the market share in 2021, the medicine dispensing cabinets will present a constant growth during the evaluation period.
- from Germany The pharmacy automation systems market will record a CAGR of 7.9%.
- The pharmacy automation systems market in the US will acquire a 56.6% share of the global market.
- The growing number of pharmacies drives the growth of the target market in India.
AmerisourceBergen Corporation, Baxter International Inc., Swisslog Holdings AG, Care Fusion Corporation, Cerner Corporation, Kirby Lester LLC, Talyst, LLC., Omnicell Inc., and ScriptPro LLC, among others, are some of the major players in the market profile of pharmacy automation systems. in the full version of the report.
Key market players are interested in adopting tactics such as launching new products and increasing investments in research and development. These organizations are also focusing on employing mergers, acquisitions, partnerships, and collaboration strategies to expand their consumer base.
More information about the Pharmacy Automation Systems market report
In its latest report, FMI offers an unbiased analysis of the global pharmacy automation systems market, providing historical data from 2014 to 2021 and forecast statistics for 2022 to 2032. To understand the potential, growth and scope of the global market, the market is segmented on the basis of product type (robotic dispensers, carousel storage, tablet splitters), application (drug dispensing and packaging, drug storage, inventory management), end user (hospital pharmacies, clinical pharmacies , retail pharmacies, mail order pharmacies, SMB pharmaceuticals) and region.
According to the latest FMI reports, based on segmentation, the drug dispensing cabinet segment will demonstrate steady growth due to its higher adoption rate. The drug dispensing and packaging segment held 47% of the market share in 2021 and is likely to maintain its lead, while the hospital pharmacy segment is anticipated to post a high CAGR over the projection period.
By region, the pharmacy automation systems market in Germany it is projected to show substantial growth, posting a positive CAGR of 7.9% during 2022-2032. A well-established and advancing health care sector, a growing geriatric population, growing concerns about improper inventory management, and the high cost of inventory storage are certain considerations driving target market growth in this country. Germany accounted for 3.3% of the global pharmacy automation systems market share in the year 2021. Other countries like India Y the United States They are anticipated to exhibit impressive growth in the pharmacy automation systems market during the forecast period.
Key market segments covered in the Pharmacy Automation Systems industry research
- Medication dispensing cabinets
- Packaging and labeling machines
- intravenous pharmacy
- Robotic dispensing machines
- carousel storage
- tablet dividers
- Medication dispensing and packaging
- drug storage
- inventory management
By end user:
- Hospital Pharmacies
- Clinical Pharmacies
- Retail Pharmacies
- Mail Order Pharmacies
- pharmaceutical SMEs
- North America
- Latin America
- South Asia
- east asian
- middle East Y Africa (MEA)
Table of Contents
1. Executive Summary
1.1. World Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
23. Inclusions and Exclusions
3. Key market trends
3.1. Key trends affecting the market
3.2. Development/innovation trends
4. Key success factors
4.1. Product Characteristics/USP Analysis
4.2. Product Adoption/Usage Analysis
4.3. Key promotional strategies, by key manufacturers
5. Market Background
5.1. macroeconomic factors
5.2. Prognostic factors: relevance and impact
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SOURCE Future Market Outlook