Pharmacy Automation Market Trends, Size, CAGR, Growth Analysis by 2030


Market Definition

Pharmacy automation plays a significant role in modern healthcare as it allows medicine to be conveniently delivered and distributed in the hospital pharmacy or retail pharmacy. Automation of the pharmacy helps to reduce the error in the medication. It prevents errors such as missing medication information, missing patient information, dispensing formulations, prescription errors, tracking therapy, and others that can occur during the manual process. One of the most common types of errors is incorrect labeling information and instructions. To improve healthcare facilities and services and to ensure patient safety, it is vital to reduce prescription error, which is why the pharmacy automation system is used in quite important ways to eliminate storage, inventory, usage, and retrieval error. The use of pharmacy automation is highly acceptable and beneficial in increasing the efficiency and accuracy of pharmacies. Furthermore, the need for preventing medication errors and the rising geriatric population across the globe are likely to boost the market growth in the forecast period. 

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Pharmacy Automation Market Analysis and Insights

The rising incidence of accidents and deaths due to medical drug errors puts tremendous pressure on the general healthcare sector. Both healthcare professionals and pharmacists are searching for more effective and accurate solutions to avoid such frequent medical malfunctions. In addition, with the increasing number of patients, visitors, and their respective safety needs, the drug delivery system becomes more complicated each passing day. In order to tackle this serious issue, advanced technologies such as pharmacy automation systems are now emerging as the most powerful tools. The goal of these instruments is to reduce medical prescription errors and maximize patient safety. Therefore, implementing such pharmacy automation systems helps healthcare service providers and pharmacists minimize their losses and improve quality and productivity.

In addition, the implementation of technological innovations and the advancement of automated systems with improved pharmacy automation systems lead to higher success rates and new applications of devices with higher demand for innovative products for prescription medicines for compounding, dispensing, storing, and labeling are driving the market growth over the forecast period. However, it is anticipated that factors such as reluctance in implementing pharmacy automation systems due to their high cost would restrict their adoption, which is expected to restrain the market growth.

The global pharmacy automation market is supportive and aims to reduce medication dispensing errors and improve patient safety. Data Bridge Market Research analyzes that the global pharmacy automation market will grow at a CAGR of 10.0% during the forecast period of 2023 to 2030.

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Competitive Landscape and Global Pharmacy Automation Market Share Analysis

The global pharmacy automation market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on the market.

Some of the major market players operating in the global pharmacy automation market are ARxIUM, OMNICELL INC., Cerner Corporation, Capsa Healthcare, ScriptPro LLC, RxSafe, LLC., MedAvail Technologies, Inc., Asteres Inc., InterLink AI, Inc., BD, Baxter, Fullscript, McKesson Corporation, Innovation Associates, AmerisourceBergen Corporation, UNIVERSAL LOGISTICS HOLDINGS, INC, Takazono Corporation, TOSHO Inc., Willach Group, BIQHS.

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