What is an automated pharmacy system?
As used in the rule, “automated pharmacy system” means a mechanical system that performs operations or activities, other than administration, relative to storage, packaging, compounding, dispensing, or distribution of dangerous drugs that collects, controls, and maintains transaction information and records.
Significant surge in geriatric population across the globe, rise in need to decline medication errors, rise in work cost, and increase in need for enhanced productivity with the help of automated systems are expected to drive the growth of the global pharmacy automation system market. In addition, significant improvement in healthcare infrastructure in emerging countries is expected to create ample opportunities in the industry. Contrarily, high capital investment and stringent guidelines restrain the market growth.
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The global pharmacy automation system market size was valued at $5001 Million in 2020, and is assessed to reach $11211 Million by 2030, growing at a CAGR of 8.3% from 2021 to 2030.
COVID-19 Scenario
- The outbreak of COVID-19 has had a positive impact on the growth of the global pharmacy automation system market, owing to significant surge in the number of coronavirus cases across the globe. Thus, surge in patients around the world had a remarkable impact on the market, creating a rapid demand for medications across the globe.
- In addition, the demand for automation systems grew exponentially due to the shortages of staff.
The report offers a detailed segmentation of the global pharmacy automation system market based on product type, end-user and region.
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North America and Europe are expected to dominate the global pharmacy automation system market during the forecast period, while the emerging countries in Asia-Pacific and Latin America are projected to offer significant growth opportunities.
Key Findings of the Study
- By product, the automated medication dispensing systems segment accounted for nearly half the shareof the pharmacy automation system market in 2020.
- Region wise, Asia-Pacific is anticipated to grow at the highest CAGR of 10.4% throughout the forecast period.
- In Europe, Germany accounted for approximately one-fourth share of the pharmacy automation system market, in 2020.
- By end user, the retail segment accounted for less than one-third share of the global pharmacy automation market in 2020.
The key market players analyzed in the global pharmacy automation system market report include Cerner Corporation, Capsa Healthcare, Omnicell Inc., RX Safe, Scriptpro Llc, Parata, Lonza, Baxter, Danaher, and Becton, Dickinson and Company.
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