The pharmacy automation market valuation is US$ 5.6 billion in 2023. Businesses across different sectors increasingly recognize the transformative potential of the healthcare sector. This lays the groundwork for substantial growth, with estimates suggesting the market to surpass US$ 13.3 billion by 2033. This growth trajectory is underpinned by an exceptional CAGR of 8.1%, highlighting the market's remarkable potential over the next decade.
| Attributes | Details |
|---|---|
| Pharmacy Automation Market Size in 2022 | US$ 5.6 billion |
| Pharmacy Automation Market Size in 2023 | US$ 6.1 billion |
| Projected Market Size by 2033 | US$ 13.3 billion |
| Value-based CAGR from 2023 to 2033 | 8.1% |
Key Highlights
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Rising Safety Concerns Regarding Medication Errors
The increasing death rate due to medication errors is driving growth in the pharmacy automation market. Furthermore, the rising hospitalizations is one of the factors expected to create lucrative opportunities during the forecast period. The included errors, such as administration errors, prescribing faults, and dispensing errors, are contributing to the increasing demand for automation.
The rising incidences of dispensing errors, including wrong doses and inadequate labeling, are expected to drive growth in the market during the forecast period. Moreover, misconceptions among doctors and pharmacists can lead to errors, which is expected to create significant opportunities in the market.
Growing Need for Pharmaceuticals Due to Prevalence of Chronic Diseases
In recent years, the increasing prevalence of chronic diseases across the world owing to diseases such as cancer, obesity, and asthma is expected to create significant market opportunities. The increasing aging population is expected to drive the market due to the rising demand for better healthcare facilities.
The pharmacy automation market grew at a significant rate during the historical period from 2018 to 2022. Rising technology advancements and other factors are all suggested to contribute to the immense growth in the market.
| Historical Market Valuation, 2022 | US$ 5.6 billion |
|---|
On the other hand, the demand for healthcare technology management during the COVID-19 pandemic has increased. Also, the adoption rate of advanced technologies and devices increased, leading to growth in the pharmacy automation market. However, the COVID-19 pandemic boosted the use of pharmaceuticals due to increasing COVID-19 cases.
Principal Consultant
| Countries | CAGR (2023 to 2033) |
|---|---|
| United States | 8.3% |
| United Kingdom | 9.1% |
| China | 8.7% |
| Japan | 9.3% |
| South Korea | 10.1% |
| Top Product | CAGR (2023 to 2033) |
|---|---|
| Medication Dispensing Systems | 7.9% |
The medication dispensing system segment is expected to grow at a 7.9% CAGR over the forecast period. The medication dispensing system is dominating the market owing to its increasing use in pharmacy stores. The device includes automatic reminders, which reduces the chances of missing a dose.
| Top End-use Sector | CAGR (2023 to 2033) |
|---|---|
| Inpatient Pharmacies | 7.7% |
Inpatient pharmacies are expected to grow at a CAGR of 7.7% over the forecast period. The inpatient pharmacies segment dominates market sales by end-use sector due to the increasing need for the management of medication in hospitals. Moreover, inpatient pharmacies provide information on the potential side effects of drugs, creating lucrative opportunities in the market.
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The key players are increasingly leveraging the benefits of collaborations. Manufacturers are taking advantage of partnerships with hospitals, mergers with other manufacturers in the market, acquisitions, and more collaborative strategies.
The pharmacy automation market does not feature highly dominant manufacturers. Instead, the market is fragmented, with several key players enjoying their share. Pharmaceutical manufacturers are also receiving increasing approvals from the government to enhance their pharmaceutical infrastructure for medical purposes.
Recent Developments
The global pharmacy automation market will be worth US$ 6.1 billion in 2023.
The rising awareness and safety concerns regarding medication errors drive market demand for pharmacy automation.
The market size is projected to surpass US$ 13.3 billion by 2033.
The medication dispensing system experiences high demand, with a projected 7.9% CAGR indicating sustained growth due to rising usage in pharmacy stores.
The markets in the United States, the United Kingdom, Japan, and China drive the demand for pharmacy automation.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2032 4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2032, By Product 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Product, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Product, 2023 to 2032 5.3.1. Medication Dispensing Systems 5.3.2. Automated Medication Compounding Systems 5.3.3. Packaging and Labeling Systems 5.3.4. Storage and Retrieval Systems 5.3.5. Tabletop Tablet Counters 5.4. Y-o-Y Growth Trend Analysis By Product, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Product, 2023 to 2032 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2032, By End Use 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By End Use, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End Use, 2023 to 2032 6.3.1. Inpatient Pharmacies 6.3.1.1. Acute Care Settings 6.3.1.2. Long Term Care Facilities 6.3.2. Outpatient Pharmacies 6.3.2.1. Outpatient/Fast Track Clinics 6.3.2.2. Hospital Retail Settings 6.3.3. Pharmacy Benefit Management Organization And Mail Order Pharmacies 6.3.4. Retail Pharmacies 6.4. Y-o-Y Growth Trend Analysis By End Use, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By End Use, 2023 to 2032 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2032, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022 7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2032 7.3.1. North America 7.3.2. Latin America 7.3.3. Western Europe 7.3.4. Eastern Europe 7.3.5. South Asia and Pacific 7.3.6. East Asia 7.3.7. Middle East and Africa 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2032, By Country 8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2032 8.2.1. By Country 8.2.1.1. USA 8.2.1.2. Canada 8.2.2. By Product 8.2.3. By End Use 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Product 8.3.3. By End Use 8.4. Key Takeaways 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2032, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2032 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Product 9.2.3. By End Use 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Product 9.3.3. By End Use 9.4. Key Takeaways 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2032, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2032 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. UK 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Western Europe 10.2.2. By Product 10.2.3. By End Use 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Product 10.3.3. By End Use 10.4. Key Takeaways 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2032, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2032 11.2.1. By Country 11.2.1.1. Poland 11.2.1.2. Russia 11.2.1.3. Czech Republic 11.2.1.4. Romania 11.2.1.5. Rest of Eastern Europe 11.2.2. By Product 11.2.3. By End Use 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Product 11.3.3. By End Use 11.4. Key Takeaways 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2032, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2032 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Bangladesh 12.2.1.3. Australia 12.2.1.4. New Zealand 12.2.1.5. Rest of South Asia and Pacific 12.2.2. By Product 12.2.3. By End Use 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Product 12.3.3. By End Use 12.4. Key Takeaways 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2032, By Country 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2032 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Product 13.2.3. By End Use 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Product 13.3.3. By End Use 13.4. Key Takeaways 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2032, By Country 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2032 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of MEA 14.2.2. By Product 14.2.3. By End Use 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Product 14.3.3. By End Use 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2022 15.1.2.1. By Product 15.1.2.2. By End Use 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2022 15.2.2.1. By Product 15.2.2.2. By End Use 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2022 15.3.2.1. By Product 15.3.2.2. By End Use 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2022 15.4.2.1. By Product 15.4.2.2. By End Use 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2022 15.5.2.1. By Product 15.5.2.2. By End Use 15.6. UK 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2022 15.6.2.1. By Product 15.6.2.2. By End Use 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2022 15.7.2.1. By Product 15.7.2.2. By End Use 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2022 15.8.2.1. By Product 15.8.2.2. By End Use 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2022 15.9.2.1. By Product 15.9.2.2. By End Use 15.10. Poland 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2022 15.10.2.1. By Product 15.10.2.2. By End Use 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2022 15.11.2.1. By Product 15.11.2.2. By End Use 15.12. Czech Republic 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2022 15.12.2.1. By Product 15.12.2.2. By End Use 15.13. Romania 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2022 15.13.2.1. By Product 15.13.2.2. By End Use 15.14. India 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2022 15.14.2.1. By Product 15.14.2.2. By End Use 15.15. Bangladesh 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2022 15.15.2.1. By Product 15.15.2.2. By End Use 15.16. Australia 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2022 15.16.2.1. By Product 15.16.2.2. By End Use 15.17. New Zealand 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2022 15.17.2.1. By Product 15.17.2.2. By End Use 15.18. China 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2022 15.18.2.1. By Product 15.18.2.2. By End Use 15.19. Japan 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2022 15.19.2.1. By Product 15.19.2.2. By End Use 15.20. South Korea 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2022 15.20.2.1. By Product 15.20.2.2. By End Use 15.21. GCC Countries 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2022 15.21.2.1. By Product 15.21.2.2. By End Use 15.22. South Africa 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2022 15.22.2.1. By Product 15.22.2.2. By End Use 15.23. Israel 15.23.1. Pricing Analysis 15.23.2. Market Share Analysis, 2022 15.23.2.1. By Product 15.23.2.2. By End Use 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Product 16.3.3. By End Use 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. Amerisource Bergen Corporation 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.2. Accu Chart Plus Healthcare Systems, Inc. 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.3. McKesson Corporation 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.4. Pearson Medical Technologies, LLC 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.5. CareFusion (Becton Dickinson And Company) 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.6. Medacist Solutions Group, LLC 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.7. TouchPoint Medical 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.8. Deenova S.R.L 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.9. Parata Systems, LLC 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.10. Swisslog Healthcare 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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Pharmacy Automation Market
