Global Pharmacy Automation System Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Pharmacy Automation System Market Overview

"The Pharmacy Automation System Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

This report is based on the synthesis, analysis, and interpretation of various sources of information gathered regarding the target market. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts to provide a holistic view of the market.

In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact to make informed forecasts about the scenarios in the future.

The pharmacy automation system helps pharmacies reduce medication inventory and improves pharmacy's cash flow. This system provides operations, such as filling and capping drugs, administering and storing drugs, and labeling prescriptions. The system can store and manage more than 200-300 medications and patients’ data, effectively and securely.

Increasing preference towards pharmacy automation system, owing to increasing need for minimizing medical errors is a key factor expected to drive growth of the global market over the forecast period. In addition, increasing rush in pharmacy centers, reduce inventory and space-saving design of the machine are other factors expected to further fuel growth of the target market.

Furthermore, increasing incidence of deaths and injuries and growing awareness regarding the benefits of using pharmacy automation system are other factors expected to propel growth of the target market shortly. Increasing need to reduce medication errors, advantages of pharmacy automation systems market over manual medication dispensing, and development of improved features drive the pharmacy automation systems market.

However, high implementation cost and low awareness of pharmacy automation systems among various healthcare organizations are major factors expected to restrain global market growth over the forecast period.

Ongoing trend observed in the target market is increasing preference towards e-prescribing which is expected to continue shortly.

Developing healthcare infrastructure and technological advancements are expected to create potential revenue opportunities for players operating in the target market over the forecast period.

The market in North America is expected to dominate the target market in terms of revenue over the forecast period, owing to improved inventory management systems and increasing adoption of pharmacy automation systems in healthcare industry in various countries in this region. The market in Asia Pacific is expected to register significant share in terms of revenue over the forecast period, owing to improved healthcare infrastructure across the developing countries in this region.

Global pharmacy automation systems market segmentation:

Segmentation by product type:

• Automated Medication Dispensing Systems
• Automated Storage & Retrieval Systems
• Automated Packaging & Labeling Systems
• Tabletop Tablet Counters
• Automated Compounding Devices

Segmentation by end-user:

• Retail Pharmacy
• Hospital pharmacy
• Others (Long-Term Care Pharmacy, Clinic Pharmacy, and Mail Order Pharmacy)

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa