Pharmacy automation refers to implementing automated systems to streamline everyday tasks and processes in pharmacies and healthcare settings. It involves mechanizing various pharmacy operations, including counting objects, compounding powders and liquids, and managing customer information in databases. The introduction of automation has significantly reduced medication errors, ensuring patient safety. Through automating these tasks, pharmacies can enhance efficiency, accuracy, and overall quality of care, leading to improved patient outcomes.
According to Data Bridge Market Research, the Pharmacy Automation Market accounted for USD 230 million in 2022 and is expected to reach USD 395.18 million by 2030. The market is expected to grow with a CAGR of 7% in the forecast period of 2023 to 2030.
“Increasing demand of minimizing errors”
Hospital readmissions worldwide are often attributed to medication and dispensing errors, making it a significant concern. Factors contributing to medication errors include inadequate communication between physicians and pharmacists, unsafe pharmacy storage practices, and confusion arising from similar labels. These challenges present opportunities for market growth. Implementing automated systems is a crucial solution to mitigating medication errors, further fuelling market expansion. These factors underscore the importance of addressing medication errors and driving advancements in the market.
What restraints the growth of the pharmacy automation market?
“Strict Regulatory Procedures”
The market growth of automated dispensing devices is hindered by stringent regulatory approvals imposed by various organizations. State boards of pharmacies have established numerous requirements for the usage of these devices in healthcare practices, adding to the challenges faced by manufacturers. Complying with the diverse set of regulations significantly impedes market growth. Overcoming these regulatory hurdles and streamlining the approval processes are essential to foster market expansion and innovation in automated dispensing systems.
Segmentation: Pharmacy Automation Market
The pharmacy automation market is segmented on the basis of product and end user.
- On the basis of product, the pharmacy automation market has been segmented into automated medication dispensing systems, automated packaging and labeling systems, automated table-top counters, automated storage and retrieval systems, and other pharmacy automation systems.
- On the basis of end user, the pharmacy automation market has been segmented into inpatient pharmacies, outpatient pharmacies, pharmacy benefit management organization and mail order pharmacies, retail pharmacies.
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The Prominent Key Players Operating in the Pharmacy Automation Market Include:
- Talyst, LLC. (U.S.)
- OMNICELL, INC. (U.S.)
- Cerner Corporation (U.S.)
- Capsa Healthcare (U.S.)
- Parata Systems, LLC (U.S.)
- RxSafe, LLC. (U.S.)
- RxMedic Systems, Inc. (U.S.)
- MedAvail Technologies, Inc. (Canada)
- Asteres Inc. (U.S.)
- PerceptiMed, Inc. (U.S.)
- BD (U.S.)
- Baxter (U.S.)
- Fullscript (Canada)
- McKesson Corporation (U.S.)
- AmerisourceBergen Corporation (U.S.)
- vitabook GmbH (Germany)
- TOSHO co. (Japan)
- Gebr. Willach GmbH (Germany)
- Grifols, S.A. (Spain)
Above are the key players covered in the report, to know about more and exhaustive list of pharmacy automation market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Brazil Pharmacy Automation Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Brazil vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
