What is pharmacy automation system?
Pharmacy automation describes any task that leverages technology to handle and distribute medications. Robotics and pill counters are the most common forms of automation. It enables pharmacies to streamline workflows and reduce the risk of errors. Its benefits often include boosting prescription volume and efficiency.
Pharmacy Automation System Market Overview (2020-230)
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.
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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.
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.
Onkar Sumant
Improvement in healthcare infrastructure in emerging countries is expected to set out new entryways for market advancement. However, high capital investment and stringent informal regulations are significant hindrances that restrain the market growth.
The pharmacy automation system market is driven by need for decline in medication errors, manual medication dispensing, and headway of further evolved innovations to help &further develop pharmacy automation systems. In addition, rise in geriatric population and surge in work cost have incited the growth in pharmacy automation market. To further foster the healthcare advantages and assure the wellbeing of patients, it is critical to reduce medication errors. Consequently, increase in use of pharmacy automation systems brings about minimization of errors associated with medication, storage, recuperation, dispensing, and use.
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.
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Based on region, the market across North America held the lion’s share in 2020, garnering more than two-fifths of the global market. The Asia-Pacific, on the other hand, is expected to cite the fastest CAGR of 10.4% during the forecast period.
Pharmacy automation systems have dealt with the course of pharmacy undertakings, such as filling &capping of drugs, administration &storing of drugs, and labeling the prescriptions. These systems can store and supervise more than 200-300 medications and patients’ information, in a reasonable &secure way. Rise in gathering of automated systems is expected to ensure prominent productivity and increase the amount of prescriptions served by the pharmacy by reducing long stretch operating cost
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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