Product Code: MCP13965
Global Pharmacy Automation Market to Reach US$9.9 Billion by 2030
The global market for Pharmacy Automation estimated at US$6.2 Billion in the year 2023, is expected to reach US$9.9 Billion by 2030, growing at a CAGR of 6.9% over the analysis period 2023-2030. Medication Dispensing Systems, one of the segments analyzed in the report, is expected to record a 6.6% CAGR and reach US$3.3 Billion by the end of the analysis period. Growth in the Packaging & Labeling Systems segment is estimated at 9.2% CAGR over the analysis period.
The U.S. Market is Estimated at US$1.7 Billion While China is Forecast to Grow at 6.4% CAGR
The Pharmacy Automation market in the U.S. is estimated at US$1.7 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$1.5 Billion by the year 2030 trailing a CAGR of 6.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 6.1% and 5.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.4% CAGR.
Global Pharmacy Automation Market - Key Trends and Drivers Summarized
Revolutionizing Medication Management: The Emergence of Pharmacy Automation
Pharmacy automation refers to the use of technology and machinery to handle and streamline various tasks in a pharmacy setting, such as medication dispensing, packaging, labeling, and inventory management. This automation significantly reduces the risk of human error, enhances operational efficiency, and allows pharmacists to focus more on patient care and consultation. In hospital and retail pharmacies, automated systems ensure the accurate dispensing of medications, which is critical for patient safety. Automated processes also improve the management of drug inventories, reducing waste and ensuring that medications are always in stock. Overall, pharmacy automation represents a transformative shift in the pharmaceutical industry, improving accuracy, efficiency, and patient safety.
How Is Technology Transforming Pharmacy Operations?
Technological advancements have profoundly impacted pharmacy operations, driving the adoption of sophisticated automation systems. Modern pharmacy automation solutions include robotic dispensing systems, automated medication storage and retrieval systems, and electronic prescription processing. Robotics and AI-driven systems can handle repetitive tasks with high precision, drastically reducing dispensing errors and freeing up pharmacists for more clinical duties. Integration of electronic health records (EHR) with pharmacy automation systems ensures seamless data flow, enhancing the accuracy of medication dispensing and patient safety. Additionally, advancements in software and analytics enable better tracking of medication usage patterns, aiding in inventory management and forecasting. These technologies collectively enhance the overall efficiency of pharmacy operations, contributing to improved healthcare delivery.
What Role Does Pharmacy Automation Play in Healthcare Compliance?
Pharmacy automation plays a vital role in ensuring compliance with healthcare regulations and standards. Automated systems are designed to adhere to stringent guidelines for medication dispensing, labeling, and documentation, minimizing the risk of non-compliance. They provide accurate records of medication transactions, which are essential for audits and regulatory reporting. Automation also supports adherence to drug safety protocols, such as monitoring for potential drug interactions and ensuring proper dosing. Furthermore, automated systems facilitate compliance with privacy laws, such as HIPAA, by securing patient information and limiting access to authorized personnel only. By ensuring adherence to regulatory requirements, pharmacy automation enhances the overall safety and reliability of pharmaceutical services.
What Factors Are Driving Growth in the Pharmacy Automation Market?
The growth in the pharmacy automation market is driven by several factors. Firstly, the increasing demand for efficient and error-free medication dispensing systems is propelling the adoption of automation technologies. Technological advancements in robotics, AI, and IoT are enhancing the capabilities of pharmacy automation systems, making them more reliable and efficient. The rising incidence of chronic diseases and an aging population are increasing the volume of medications dispensed, necessitating more efficient pharmacy operations. Additionally, the growing emphasis on reducing medication errors and improving patient safety is driving the demand for automated systems. The expansion of hospital infrastructure and the growth of retail pharmacies are also contributing to market growth. Furthermore, regulatory pressures for compliance with drug safety standards are encouraging the adoption of pharmacy automation solutions. These factors collectively support the robust growth and continuous innovation within the pharmacy automation market.
Select Competitors (Total 23 Featured) -
- ARxIUM, Inc.
- Baxter International, Inc.
- Becton, Dickinson and Company
- Capsa Healthcare
- Cerner Corporation
- KUKA AG
- Omnicell, Inc.
- Parata Systems, LLC.
- RxSafe, LLC.
- ScriptPro LLC
- Talyst
- Tcgrx Pharmacy Workflow Solutions
TABLE OF CONTENTS
I. METHODOLOGY
II. EXECUTIVE SUMMARY
- 1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Pharmacy Automation - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Global Economic Update
- 2. FOCUS ON SELECT PLAYERS
- 3. MARKET TRENDS & DRIVERS
- Increasing Demand for Efficient and Error-Free Medication Dispensing Spurs Growth
- Technological Advancements in Robotics Strengthen Business Case for Automation
- Rising Focus on Reducing Medication Errors Drives Adoption of Automated Systems
- Growing Need for Workflow Optimization in Pharmacies Expands Market Opportunity
- Integration of IoT in Pharmacy Systems Generates Demand for Smart Solutions
- Development of Compact and User-Friendly Automation Solutions
- Growth in Retail and Hospital Pharmacies Sustains Demand
- Expansion of Centralized Pharmacy Models Boosts Market Growth
- Demand for Remote and Telepharmacy Services Drives Technology Adoption
- Increasing Focus on Cost Reduction and Efficiency in Pharmacies
- Rising Awareness and Adoption of Automated Medication Management Systems
- 4. GLOBAL MARKET PERSPECTIVE
- TABLE 1: World Recent Past, Current & Future Analysis for Pharmacy Automation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 2: World Historic Review for Pharmacy Automation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 3: World 16-Year Perspective for Pharmacy Automation by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2014, 2024 & 2030
- TABLE 4: World Recent Past, Current & Future Analysis for Other Products by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 5: World Historic Review for Other Products by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 6: World 16-Year Perspective for Other Products by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
- TABLE 7: World Pharmacy Automation Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
- TABLE 8: World Recent Past, Current & Future Analysis for Medication Dispensing Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 9: World Historic Review for Medication Dispensing Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 10: World 16-Year Perspective for Medication Dispensing Systems by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
- TABLE 11: World Recent Past, Current & Future Analysis for Packaging & Labeling Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 12: World Historic Review for Packaging & Labeling Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 13: World 16-Year Perspective for Packaging & Labeling Systems by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
- TABLE 14: World Recent Past, Current & Future Analysis for Tabletop Counters by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 15: World Historic Review for Tabletop Counters by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 16: World 16-Year Perspective for Tabletop Counters by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
- TABLE 17: World Recent Past, Current & Future Analysis for Storage & Retrieval Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 18: World Historic Review for Storage & Retrieval Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 19: World 16-Year Perspective for Storage & Retrieval Systems by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
III. MARKET ANALYSIS
- UNITED STATES
- Pharmacy Automation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
- TABLE 20: USA Recent Past, Current & Future Analysis for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 21: USA Historic Review for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 22: USA 16-Year Perspective for Pharmacy Automation by Product - Percentage Breakdown of Value Sales for Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products for the Years 2014, 2024 & 2030
- CANADA
- TABLE 23: Canada Recent Past, Current & Future Analysis for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 24: Canada Historic Review for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 25: Canada 16-Year Perspective for Pharmacy Automation by Product - Percentage Breakdown of Value Sales for Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products for the Years 2014, 2024 & 2030
- JAPAN
- Pharmacy Automation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
- TABLE 26: Japan Recent Past, Current & Future Analysis for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 27: Japan Historic Review for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 28: Japan 16-Year Perspective for Pharmacy Automation by Product - Percentage Breakdown of Value Sales for Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products for the Years 2014, 2024 & 2030
- CHINA
- Pharmacy Automation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
- TABLE 29: China Recent Past, Current & Future Analysis for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 30: China Historic Review for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 31: China 16-Year Perspective for Pharmacy Automation by Product - Percentage Breakdown of Value Sales for Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products for the Years 2014, 2024 & 2030
- EUROPE
- Pharmacy Automation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
- TABLE 32: Europe Recent Past, Current & Future Analysis for Pharmacy Automation by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 33: Europe Historic Review for Pharmacy Automation by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 34: Europe 16-Year Perspective for Pharmacy Automation by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2014, 2024 & 2030
- TABLE 35: Europe Recent Past, Current & Future Analysis for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 36: Europe Historic Review for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 37: Europe 16-Year Perspective for Pharmacy Automation by Product - Percentage Breakdown of Value Sales for Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products for the Years 2014, 2024 & 2030
- FRANCE
- Pharmacy Automation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
- TABLE 38: France Recent Past, Current & Future Analysis for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 39: France Historic Review for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 40: France 16-Year Perspective for Pharmacy Automation by Product - Percentage Breakdown of Value Sales for Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products for the Years 2014, 2024 & 2030
- GERMANY
- Pharmacy Automation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
- TABLE 41: Germany Recent Past, Current & Future Analysis for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 42: Germany Historic Review for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 43: Germany 16-Year Perspective for Pharmacy Automation by Product - Percentage Breakdown of Value Sales for Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products for the Years 2014, 2024 & 2030
- ITALY
- TABLE 44: Italy Recent Past, Current & Future Analysis for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 45: Italy Historic Review for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 46: Italy 16-Year Perspective for Pharmacy Automation by Product - Percentage Breakdown of Value Sales for Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products for the Years 2014, 2024 & 2030
- UNITED KINGDOM
- Pharmacy Automation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
- TABLE 47: UK Recent Past, Current & Future Analysis for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 48: UK Historic Review for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 49: UK 16-Year Perspective for Pharmacy Automation by Product - Percentage Breakdown of Value Sales for Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products for the Years 2014, 2024 & 2030
- REST OF EUROPE
- TABLE 50: Rest of Europe Recent Past, Current & Future Analysis for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 51: Rest of Europe Historic Review for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 52: Rest of Europe 16-Year Perspective for Pharmacy Automation by Product - Percentage Breakdown of Value Sales for Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products for the Years 2014, 2024 & 2030
- ASIA-PACIFIC
- Pharmacy Automation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
- TABLE 53: Asia-Pacific Recent Past, Current & Future Analysis for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 54: Asia-Pacific Historic Review for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 55: Asia-Pacific 16-Year Perspective for Pharmacy Automation by Product - Percentage Breakdown of Value Sales for Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products for the Years 2014, 2024 & 2030
- REST OF WORLD
- TABLE 56: Rest of World Recent Past, Current & Future Analysis for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 57: Rest of World Historic Review for Pharmacy Automation by Product - Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 58: Rest of World 16-Year Perspective for Pharmacy Automation by Product - Percentage Breakdown of Value Sales for Medication Dispensing Systems, Packaging & Labeling Systems, Tabletop Counters, Storage & Retrieval Systems and Other Products for the Years 2014, 2024 & 2030
IV. COMPETITION