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The Pharmacy Automation Equipment Market Likely to Gain $8712.6 Million by 2028

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The Pharmacy Automation Equipment Market Likely to Gain $8712.6 Million by 2028

December 01
16:52 2021
The Pharmacy Automation Equipment Market Likely to Gain $8712.6 Million by 2028
The Pharmacy Automation Equipment Market
As per Triton’s research report, the global pharmacy automation equipment market attained $5128.3 million in 2021. It is further expected to witness growth at a CAGR of 7.83% by 2028.

A recent study by Triton Market Research titled ‘Global Pharmacy Automation Equipment Market’ includes the Global Analysis and Forecasts by Technology (Automated Table-top Counter, Automated Packaging and Labeling System, Automated Medication Dispensing System, Automated Storage and Retrieval System, Other Technologies), Verticals (Retail Pharmacy, Hospital Pharmacy, Other Industry Verticals), and by Geography (North America, Latin America, Middle East and Africa, Europe, Asia-Pacific).   

Pharmacy automation helps decrease medication errors, ensuring patient safety. These systems are employed across retail and hospital pharmacies. 

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Decentralized pharmacy services mean pharmacists are responsible for clinical and distribution services, including order validation. Hence, these decentralized services are the preferred method of pharmacy service delivery in hospitals as it offers several advantages, including patient safety, increased efficiency in patient care, cost effectiveness, and others. Hence, the growing preference for decentralized pharmacy services supports the development of the pharmacy automation equipment market. 

However, the lack of financial support and complexities in operating automated dispensing systems are restricting the overall growth of the pharmacy automation equipment market. 

The global pharmacy automation equipment market is bifurcated into technology and verticals. Based on technology, the market is divided into Automated Table-top Counter, Automated Packaging and Labeling System, Automated Medication Dispensing System, Automated Storage and Retrieval System, and Other Technologies. The verticals section is subdivided into retail pharmacy, hospital pharmacy, and other industry verticals.

North America captures the major share in the pharmacy automation equipment market. This growth is majorly driven by factors such as growing health awareness, surging strategic initiatives by government bodies, and rising adoption of pharmacy automation equipment. Along with this, the growing awareness among pharmacies for automated systems, rising prevalence of chronic diseases, and increasing geriatric population are influencing the adoption of automated dispensing systems across the US and Canada. Hence, all these factors are responsible for the robust growth of the pharmacy automation equipment market. 

Avery Weigh Tronix, Capsa Healthcare LLC, Pearson Medical Technologies, Becton Dickinson and Company, Newicon Oy, Accu Chart Plus Healthcare System Inc, Swisslog Holdings AG, Amerisourcebergen, Alixarx, Parata Systems LLC, Cerner Corporation, Omnicell Inc, Perceptimed Inc, Scriptpro LLC, Arxium Inc, Baxter International Inc, and McKesson Corporation are major firms in the pharmacy automation equipment market. 

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Question & Answer: Pharmacy Automation Equipment Market 

Question 1: What major factor supports the development of the pharmacy automation equipment market?

Answer: Decentralized pharmacy services mean pharmacists are responsible for clinical and distribution services, including order validation. Hence, these decentralized services are the preferred method of pharmacy service delivery in hospitals as it offers several advantages, including patient safety, increased efficiency in patient care, cost effectiveness, and others. Hence, the growing preference for decentralized pharmacy services supports the development of the pharmacy automation equipment market. 

Question 2: What factors are restricting the overall growth of the pharmacy automation equipment market?

Answer: The lack of financial support and complexities in operating automated dispensing systems are restricting the overall growth of the pharmacy automation equipment market. 

Question 3: Which region captures the major share in the pharmacy automation equipment market?

Answer: North America captures the major share in the pharmacy automation equipment market. This growth is majorly driven by factors such as growing health awareness, surging strategic initiatives by government bodies, and rising adoption of pharmacy automation equipment. Along with this, the growing awareness among pharmacies for automated systems, rising prevalence of chronic diseases, and increasing geriatric population are influencing the adoption of automated dispensing systems across the US and Canada. Hence, all these factors are responsible for the robust growth of the pharmacy automation equipment market. 

Question 4: Which are the major firms in the pharmacy automation equipment market?

Answer: Avery Weigh Tronix, Capsa Healthcare LLC, Pearson Medical Technologies, Becton Dickinson and Company, Newicon Oy, Accu Chart Plus Healthcare System Inc, Swisslog Holdings AG, Amerisourcebergen, Alixarx, Parata Systems LLC, Cerner Corporation, Omnicell Inc, Perceptimed Inc, Scriptpro LLC, Arxium Inc, Baxter International Inc, and McKesson Corporation are major firms in the pharmacy automation equipment market. 

Related Report:

Global Pharmaceutical Continuous Manufacturing Market

The global pharmaceutical continuous manufacturing market is probable to register growth at a CAGR of 10.35% during the evaluated period of 2021-2028 while acquiring revenue worth $937.7 million by 2028.

The continuous pharmaceutical manufacturing systems offer significant advantages, including reduced production changes, low operation and equipment costs, and improved yields. 

Factors such as initiatives by regulatory authorities to adopt continuous manufacturing, growing acceptance of PCM systems, and growing healthcare expenditures are driving the market’s growth. 

However, the lack of demand for these systems in underdeveloped countries and rising customer expectations are hampering the overall development of the pharmacy automation equipment market. 

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