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GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET FORECAST 2021-2028

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GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET FORECAST 2021-2028

The global pharmacy automation equipment market is anticipated to register a CAGR of 7.93%, generating a revenue of $8718.8 million by 2028. The base year considered for the market study is 2020, and the forecast period is from 2021 to 2028.

Pharmacy automation involves decentralized or centralized automated packing, dispensing, labeling, and other applications. It helps plummet dispensing errors while refining the workflow efficacy of pharmacies and hospital nursing staff.

GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET FORECAST 2021-2028

Global Pharmacy Automation Equipment Market by Product (Automated Medication Dispensing System, Automated Packaging and Labeling System, Automated Table-top Counter, Automated Storage and Retrieval System, Other Products) Market by End-user (Retail Pharmacy, Hospital Pharmacy, Other End-users) by Geography

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The global pharmacy automation equipment market is anticipated to register a CAGR of 7.93%, generating a revenue of $8718.8 million by 2028. The base year considered for the market study is 2020, and the forecast period is from 2021 to 2028.

Pharmacy automation involves decentralized or centralized automated packing, dispensing, labeling, and other applications. It helps plummet dispensing errors while refining the workflow efficacy of pharmacies and hospital nursing staff.

pharmacy-automation-equipment-market

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Key factors propelling the global pharmacy automation equipment market growth:

  • Usage of automated medication dispensing systems to minimize medication errors
    • The automated medication dispensing systems helps minimize medication errors, thereby enhancing patient safety.
  • Demand for specialty drugs due to increase in complex, chronic, and rare diseases
  • Decentralization of pharmacies

 Major growth restraining factors:

  • Difficulties associated with operating automated dispensing systems
    • Automated dispensing systems are programmed by healthcare professionals.
    • However, if the drug input is wrong, it may lead to a medication error, affecting the patient’s overall health.
  • Reluctance to adopt pharmacy automation systems

The report scope of the global pharmacy automation equipment market includes segmentation analysis based on product and end-user. One of these segments is further classified to provide a detailed analysis of the studied market.

Market by Product:

  • Automated Medication Dispensing System
    • In 2020, the automated medication dispensing system segment held the largest market share under the product category.
    • Automated medication dispensing systems are decentralized medication distributing systems that typically cover activities, including computer-controlled storage, tracking, and dispensing of medications.
  • Automated Packaging and Labeling System
  • Automated Table-Top Counter
  • Automated Storage and Retrieval System
    • Automated storage and retrieval system is the fastest-growing product.
    • Automated storage and retrieval systems entail automation technology specifically designed to perform functions such as buffering, storage, and retrieval of medications and inventory on demand.

Geographically, the global pharmacy automation equipment market has been segmented based on four major regions, which includes:

  • North America: The United States and Canada
    • North America accounts for the largest share in the global pharmacy automation equipment market.
    • The region’s market growth is attributed to the increasing strategic activities introduced by the government, the rising adoption of pharmacy automation equipment in the United States, and the presence of leading players.
  • Europe: The United Kingdom, Germany, Italy, France, Nordic Countries, Russia, the Netherlands, and Rest of Europe
  • Asia-Pacific: Japan, India, China, South Korea, Australia & New Zealand, Thailand, Indonesia, Vietnam, and Rest of Asia-Pacific
    • Asia-Pacific is the fastest-growing region across the global pharmacy automation equipment market.
    • The rising incidence of chronic and life-threatening diseases, along with the increasing dispensation of medications, are among the key factors contributing to the market growth in the Asia-Pacific.
  • Rest of World: Latin America, the Middle East & Africa

Major players in the global pharmacy automation equipment market:

  • AmerisourceBergen
  • ARxIUM Inc
  • Baxter International Inc
  • Becton, Dickinson and Company (BD)
  • Capsa Healthcare LLC
  • McKesson Corporation

Key strategies adopted by some of these companies:

In August 2020, Capsa Healthcare acquired RoboPharma, a leader in pharmacy automation based in the Netherlands. RoboPharma delivers modified high-speed prescription filling solutions for hospitals, wholesalers, community pharmacies, and central fill operations.

Key findings of the global pharmacy automation equipment market:

  • Technological advancements and the integration of artificial intelligence (AI) plays a vital role in fueling the adoption of pharmacy automation equipment.
  • The increasing demand for healthcare services provides the global pharmacy automation equipment market with lucrative growth prospects.

 

Frequently Asked Questions (FAQs):

  • How are AI and machine learning offering opportunities to the global pharmacy automation equipment market?

A: AI and machine learning offer notable opportunities for changes within the global pharmacy automation equipment market. Researchers are increasingly focusing on AI image recognition, as well. Therefore, as the software continues to improve, it is likely that error rates will continue to decrease.

  • What are the aspects of development anticipated in terms of automation equipment in the future?

A: As automated equipment becomes smarter and more efficient, pharmacies and professionals will likely shift their focus towards providing a more holistic approach to healthcare.

  • Which are the largest and the fastest-growing end-users of the global pharmacy automation equipment market?

A: Retail pharmacy is the largest revenue-generating end-user, whereas hospital pharmacy is anticipated to grow with the highest CAGR during the forecast period.

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • MARKET OVERVIEW
    3. MARKET DYNAMICS
      • KEY DRIVERS
        • USAGE OF AUTOMATED MEDICATION DISPENSING SYSTEMS TO MINIMIZE MEDICATION ERRORS
        • DEMAND FOR SPECIALTY DRUGS DUE TO INCREASE IN COMPLEX, CHRONIC, AND RARE DISEASES
        • DECENTRALIZATION OF PHARMACIES
      • KEY RESTRAINTS
        • DIFFICULTIES ASSOCIATED WITH OPERATING AUTOMATED DISPENSING SYSTEMS
        • RELUCTANCE TO ADOPT PHARMACY AUTOMATION SYSTEMS
    1. KEY ANALYTICS
      • IMPACT OF COVID-19 ON PHARMACY AUTOMATION EQUIPMENT MARKET
      • KEY MARKET TRENDS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRY
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • VENDOR LANDSCAPE
    2. MARKET BY PRODUCT
      • AUTOMATED MEDICATION DISPENSING SYSTEM
      • AUTOMATED PACKAGING AND LABELING SYSTEM
      • AUTOMATED TABLE-TOP COUNTER
      • AUTOMATED STORAGE AND RETRIEVAL SYSTEM
      • OTHER PRODUCTS
    3. MARKET BY END-USER
      • RETAIL PHARMACY
      • HOSPITAL PHARMACY
      • OTHER END-USERS
    4. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
      • EUROPE
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • GERMANY
          • FRANCE
          • UNITED KINGDOM
          • ITALY
          • RUSSIA
          • THE NETHERLANDS
          • NORDIC COUNTRIES
          • REST OF EUROPE
      • ASIA-PACIFIC
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • CHINA
          • JAPAN
          • INDIA
          • AUSTRALIA & NEW ZEALAND
          • SOUTH KOREA
          • THAILAND
          • INDONESIA
          • SINGAPORE
          • REST OF ASIA-PACIFIC
      • REST OF WORLD
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • REGIONAL ANALYSIS
          • LATIN AMERICA
          • MIDDLE EAST & AFRICA
    1. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • MERGERS & ACQUISITIONS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • PARTNERSHIPS & AGREEMENTS
        • BUSINESS EXPANSIONS, ANNOUNCEMENTS, AND DIVESTITURES
      • COMPANY PROFILES
        • ACCU-CHART PLUS HEALTHCARE SYSTEM INC
        • ALIXARX
        • AMERISOURCEBERGEN
        • ARXIUM INC
        • AVERY WEIGH -TRONIX
        • BAXTER INTERNATIONAL INC
        • BECTON, DICKINSON AND COMPANY (BD)
        • CAPSA HEALTHCARE LLC
        • CERNER CORPORATION
        • MCKESSON CORPORATION
        • NEWLCON OY
        • OMNICELL INC
        • PARATA SYSTEMS LLC
        • PEARSON MEDICAL TECHNOLOGIES
        • PERCEPTIMED INC
        • RXSAFE LLC
        • SCRIPTPRO LLC
        • SWISSLOG HOLDINGS AG
        • YUYAMA CO LTD

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT – PHARMACY AUTOMATION EQUIPMENT

    TABLE 2: GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET, BY PRODUCT, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 3: GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET, BY PRODUCT, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 4: GLOBAL AUTOMATED MEDICATION DISPENSING SYSTEM MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 5: GLOBAL AUTOMATED MEDICATION DISPENSING SYSTEM MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 6: GLOBAL AUTOMATED PACKAGING AND LABELING SYSTEM MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 7: GLOBAL AUTOMATED PACKAGING AND LABELING SYSTEM MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 8: GLOBAL AUTOMATED TABLE-TOP COUNTER MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 9: GLOBAL AUTOMATED TABLE-TOP COUNTER MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 10: GLOBAL AUTOMATED STORAGE AND RETRIEVAL SYSTEM MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 11: GLOBAL AUTOMATED STORAGE AND RETRIEVAL SYSTEM MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 12: GLOBAL OTHER PRODUCTS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 13: GLOBAL OTHER PRODUCTS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 14: GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET, BY END-USER, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 15: GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET, BY END-USER, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 16: GLOBAL RETAIL PHARMACY MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 17: GLOBAL RETAIL PHARMACY MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 18: GLOBAL HOSPITAL PHARMACY MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 19: GLOBAL HOSPITAL PHARMACY MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 20: GLOBAL OTHER END-USERS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 21: GLOBAL OTHER END-USERS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 22: GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 23: GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 24: NORTH AMERICA PHARMACY AUTOMATION EQUIPMENT MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 25: NORTH AMERICA PHARMACY AUTOMATION EQUIPMENT MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 26: LEADING PLAYERS OPERATING IN NORTH AMERICA PHARMACY AUTOMATION EQUIPMENT MARKET

    TABLE 27: EUROPE PHARMACY AUTOMATION EQUIPMENT MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 28: EUROPE PHARMACY AUTOMATION EQUIPMENT MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 29: LEADING PLAYERS OPERATING IN EUROPE PHARMACY AUTOMATION EQUIPMENT MARKET

    TABLE 30: ASIA-PACIFIC PHARMACY AUTOMATION EQUIPMENT MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 31: ASIA-PACIFIC PHARMACY AUTOMATION EQUIPMENT MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 32: LEADING PLAYERS OPERATING IN ASIA-PACIFIC PHARMACY AUTOMATION EQUIPMENT MARKET

    TABLE 33: REST OF WORLD PHARMACY AUTOMATION EQUIPMENT MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 34: REST OF WORLD PHARMACY AUTOMATION EQUIPMENT MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 35: LEADING PLAYERS OPERATING IN REST OF WORLD PHARMACY AUTOMATION EQUIPMENT MARKET

    TABLE 36: LIST OF MERGERS & ACQUISITIONS

    TABLE 37: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

    TABLE 38: LIST OF PARTNERSHIPS & AGREEMENTS

    TABLE 39: LIST OF BUSINESS EXPANSIONS, ANNOUNCEMENTS, AND DIVESTITURES

    LIST OF FIGURES

    FIGURE 1: KEY MARKET TRENDS

    FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 3: OPPORTUNITY MATRIX

    FIGURE 4: VENDOR LANDSCAPE

    FIGURE 5: GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET, BY PRODUCT, IN 2020

    FIGURE 6: GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET, BY AUTOMATED MEDICATION DISPENSING SYSTEM, 2021-2028 (IN $ MILLION)

    FIGURE 7: GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET, BY AUTOMATED PACKAGING AND LABELING SYSTEM, 2021-2028 (IN $ MILLION)

    FIGURE 8: GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET, BY AUTOMATED TABLE-TOP COUNTER, 2021-2028 (IN $ MILLION)

    FIGURE 9: GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET, BY AUTOMATED STORAGE AND RETRIEVAL SYSTEM, 2021-2028 (IN $ MILLION)

    FIGURE 10: GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET, BY OTHER PRODUCTS, 2021-2028 (IN $ MILLION)

    FIGURE 11: GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET, BY END-USER, IN 2020

    FIGURE 12: GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET, BY RETAIL PHARMACY, 2021-2028 (IN $ MILLION)

    FIGURE 13: GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET, BY HOSPITAL PHARMACY, 2021-2028 (IN $ MILLION)

    FIGURE 14: GLOBAL PHARMACY AUTOMATION EQUIPMENT MARKET, BY OTHER END-USERS, 2021-2028 (IN $ MILLION)

    FIGURE 15: NORTH AMERICA PHARMACY AUTOMATION EQUIPMENT MARKET, COUNTRY OUTLOOK, 2020 & 2028 (IN %)

    FIGURE 16: UNITED STATES PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 17: CANADA PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 18: EUROPE PHARMACY AUTOMATION EQUIPMENT MARKET, COUNTRY OUTLOOK, 2020 & 2028 (IN %)

    FIGURE 19: GERMANY PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 20: FRANCE PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 21: UNITED KINGDOM PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 22: ITALY PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 23: RUSSIA PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 24: THE NETHERLANDS PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 25: NORDIC COUNTRIES PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 26: REST OF EUROPE PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 27: ASIA-PACIFIC PHARMACY AUTOMATION EQUIPMENT MARKET, COUNTRY OUTLOOK, 2020 & 2028 (IN %)

    FIGURE 28: CHINA PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 29: JAPAN PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 30: INDIA PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 31: AUSTRALIA & NEW ZEALAND PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 32: SOUTH KOREA PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 33: THAILAND PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 34: INDONESIA PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 35: SINGAPORE PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 36: REST OF ASIA-PACIFIC PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 37: REST OF WORLD PHARMACY AUTOMATION EQUIPMENT MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

    FIGURE 38: LATIN AMERICA PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 39: MIDDLE EAST & AFRICA PHARMACY AUTOMATION EQUIPMENT MARKET, 2021-2028 (IN $ MILLION)

    1. MARKET BY PRODUCT
      • AUTOMATED MEDICATION DISPENSING SYSTEM
      • AUTOMATED PACKAGING AND LABELING SYSTEM
      • AUTOMATED TABLE-TOP COUNTER
      • AUTOMATED STORAGE AND RETRIEVAL SYSTEM
      • OTHER PRODUCTS
    2. MARKET BY END-USER
      • RETAIL PHARMACY
      • HOSPITAL PHARMACY
      • OTHER END-USERS
    3. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
      • EUROPE
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • GERMANY
          • FRANCE
          • UNITED KINGDOM
          • ITALY
          • RUSSIA
          • THE NETHERLANDS
          • NORDIC COUNTRIES
          • REST OF EUROPE
      • ASIA-PACIFIC
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • CHINA
          • JAPAN
          • INDIA
          • AUSTRALIA & NEW ZEALAND
          • SOUTH KOREA
          • THAILAND
          • INDONESIA
          • SINGAPORE
          • REST OF ASIA-PACIFIC
      • REST OF WORLD
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • REGIONAL ANALYSIS
          • LATIN AMERICA
          • MIDDLE EAST & AFRICA

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