May 03, 2024
Boston: “According to the latest BCC Research study, the demand for Pharmacy Automation: Technologies and Global Markets is growing from $7.8 billion in 2023 to $12.7 billion by the end of 2028, at a compound annual growth rate (CAGR) of 10.2% from 2023 through 2028.”
This BCC research report provides a detailed analysis of the global pharmacy automation market, focusing on product type, application, and region. It provides estimates and forecasts for 2023-2028. year, setting 2022 as the base year. Market segments include distribution/storage, packaging/archiving, software/logistics, etc. Applications span inpatient and outpatient segments, including acute care, long-term care, ambulatory clinical care, hospital retail, pharmacy benefit management, and chain retail. The report highlights trends, challenges and vendors with a focus on the US and developed Europe with additional data from other regions.
Amidst the COVID-19 pandemic, pharmacists are increasingly turning to automation to minimize medication errors and ensure patient safety. With nearly 90% of office-based physicians in the U.S. utilizing some form of electronic health records, the importance of streamlined data management is evident. In the pharmacy automation market, the inpatient segment holds dominance, driven by the imperative for efficiency and safety in hospital settings. This urgency is further fueled by the opioid crisis, which has claimed over a million lives since 1999, prompting a heightened demand for automation to mitigate drug errors and deliver value-based care to outpatients across the nation.
To read more about the Pharmacy Automation Technology and Global Market report, click here for more information.
Key Drivers of Pharmacy Automation Technologies and Global Markets
Rising Prescription Volumes in Pharmacies: As more and more people request prescriptions; pharmacies are under pressure to process them efficiently. Automated systems, such as robotic dispensing machines, speed up the process, reduce errors and allow pharmacists to focus on patient care.
Surge in Demand for Automated Packaging and Labeling Solutions: Accurate packaging and labeling are essential for safety. Automated systems ensure that medicines are packaged correctly with correct instructions and labelling, reducing errors and complying with regulations.
Continuous Need to Reduce Medication Errors: Medication errors can be dangerous. Automated technologies such as robotic dispensers and barcode scanning ensure accurate distribution and immediate inventory tracking, helping to eliminate errors.
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Report Synopsis
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Report Metrics |
Details |
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Base year considered |
2022 |
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Forecast Period considered |
2023-2028 |
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Base year market size |
$7.1 billion |
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Market Size Forecast |
$12.7 billion |
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Growth Rate |
CAGR of 10.2% for the forecast period of 2023-2028 |
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Segment Covered |
By Type, By Application |
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Regions covered |
U.S., Europe, Asia-Pacific, Rest of the World |
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Countries covered |
U.K., France, Germany, Italy, Spain, Poland, Russia, Turkey, Croatia, Hungary, Romania, China, Japan, South Korea, Australia, New Zealand, Indonesia, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam, Canada, Mexico, Middle East |
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Key Market Drivers |
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Segmentation Analysis:
This report on the Pharmacy Automation Technologies and Global Markets provides comprehensive insights and analysis, addressing the following key questions:
1. What is the projected market size and growth rate of the pharmacy automation market?
2. What are the key factors driving the growth of the global pharmacy automation market?
3. By product type, which segment will dominate the market by the end of 2028?
4. Which region has the highest market share in the global pharmacy automation market?
Some of the Key Market Players Are:
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Pharmacy Automation: Technologies and Global Markets( IAS026H )
Publish Date: Mar 2024
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