Meticulous Research®, a leading firm in market research, has published an extensive 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.” The report offers a detailed analysis of the market, projecting a compound annual growth rate (CAGR) of 7.6% for the pharmacy automation sector between 2024 and 2030, culminating in a market size of $7.87 billion by 2030.
Several factors are fueling this market's growth. The increasing application of artificial intelligence (AI) in pharmacy services, the shift towards automation to lower operational costs, and the expanding adoption of robotics in pharmacy workflows are driving significant advancements in the sector. Furthermore, the use of advanced technologies to minimize medication errors has become a critical factor contributing to market expansion. Additionally, the introduction of compact, automated pharmacy systems and the rising healthcare expenditures in emerging economies are expected to create lucrative opportunities for key players in the industry.
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Despite these positive trends, some challenges continue to hinder market growth. Regulatory hurdles and the high cost of implementing pharmacy automation systems are significant barriers preventing widespread adoption. These factors contribute to market stagnation, especially in regions where budget constraints are prominent.
Leading Companies in the Pharmacy Automation Market
The pharmacy automation market is composed of several influential 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.).
Market Segmentation and Future Growth
The report categorizes the pharmacy automation market based on components, such as automated medication dispensing systems, packaging & labeling systems, storage & retrieval systems, medication compounding systems, and table-top tablet and capsule counters. End-user segments include retail pharmacies, hospital pharmacies, and others. The report further provides a thorough regional and country-level analysis, helping industry players understand the competitive landscape.
Among the product categories, the automated medication dispensing systems segment is poised to lead the market in 2024. These systems are in high demand due to their ability to enhance patient care, reduce medication errors, and streamline pharmacy operations by cutting down dispensing times. This improvement in efficiency enables healthcare providers to quickly access critical medications, especially in emergency situations, thereby improving overall patient outcomes.
Regarding end users, the retail pharmacy sector is expected to capture the largest share of the pharmacy automation market in 2024. Automation offers retail pharmacies the ability to personalize medication packaging based on individual patient needs, improving adherence to medication regimens. Additionally, automated systems help pharmacies cut operational costs while expanding their range of services, contributing to the segment's growth.
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Geographic Outlook
This report provides an extensive regional analysis, focusing on North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is projected to hold the largest market share, driven by the increasing adoption of pharmacy automation technology, the growing number of centralized pharmacies, rising demand for personalized medication packaging, and strong governmental support for healthcare automation initiatives.
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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