According to the research report titled ‘Global Pharmacy Automation Market Size study, By Product (Automated Medication Dispensing and Storage Systems, Automated Packaging and Labelling Systems, Automated Tabletop Counters, Automated Medication Compounding Systems, Other Pharmacy Automation Systems), By End-User (Inpatient Pharmacies, Outpatient Pharmacies, Retail Pharmacies, Pharmacy Benefit Management Organizations and Mail-Order Pharmacies), and Regional Forecasts 2022-2028’ available with MarketStudyReport, global pharmacy automation market is estimated to generate considerable revenues during 2022-2028.
Surging requirements for reducing medication errors, increasing focus on automation to cut labor costs, and technological breakthroughs in the field are the primary factors fueling the growth of global pharmacy automation market.
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For the unversed, a mechanical procedure called pharmacy automation is utilized to handle and distribute drugs, resulting in minimal errors and proper organization of activities for the pharmacies.
The introduction of technologically advanced products and increasing awareness among pharmacists & emerging economies are also stimulating the overall industry outlook.
However, strict regulatory procedures and hefty initial capital investments may stymie industry expansion between 2022 and 2028.
To get a clear understanding of the profit potential, the market is fragmented into product type, and end-user terrain.
Based on product gamut, the market is divided into automated medication compounding systems, automated tabletop counters, automated packaging and labeling systems, automated medication dispensing and storage systems, and other pharmacy automation systems.
With respect to the end-user terrain, global pharmacy automation industry is bifurcated into pharmacy benefit management organizations and mail-order pharmacies, retail pharmacies, outpatient pharmacies, and inpatient pharmacies.
Regionally, the market spans across Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Of these, North America market is expected to amass significant earnings during the study duration, owing to the rising expenditure on technological developments and increasing government support.
Whereas Asia-Pacific market is anticipated to exhibit a substantial CAGR over the forecast period, ascribed to the increasing number of companies setting up manufacturing units and growing demand for health technology solutions across the region.
The competitive landscape of global pharmacy automation industry is defined by companies such as ScriptPro LLC, RxSafe, LLC, Parata Systems LLC, Yuyama Co. Ltd., Cerner Corporation, Capsa Healthcare, Baxter International Inc., KUKA AG, Omnicell Inc., and Becton, Dickinson and Company.