Pharmacy Automation Systems Market Forecasted To Attain USD 11.21 Billion By 2030, Showcasing A 8.3% CAGR

Allied Market Research has published a study report with the title global Pharmacy Automation System Market generated $5.00 billion in 2020, and is projected to reach $11.21 billion by 2030, registering a CAGR of 8.3% from 2021 to 2030.

A pharmacy automation structure is used to administer and scatter medications mechanically. Increased medication errors, advantages of pharmacy automation system, and progression of further evolved features drive the growth of pharmacy automation system market.

In addition, 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.

Key Takeaways:

• The automated medication dispensing systems segment accounted for nearly half the shareof the pharmacy automation system market in 2020.
• Asia-Pacific is anticipated to grow at the highest CAGR of 10.4% throughout the forecast period.
• Germany accounted for approximately one-fourth share of the pharmacy automation system market,
• The retail segment accounted for less than one-third share of the global pharmacy automation market in 2023.

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Major Factors Driving the Growth of Pharmacy Automation System Market:

• Medication Safety and Error Reduction: Pharmacy automation systems are designed to reduce medication errors and enhance patient safety by automating the dispensing and administration processes. The increasing focus on patient safety has driven the adoption of these systems.
• Increasing Medication Volume: The growing volume of medications being dispensed in healthcare facilities, including hospitals and retail pharmacies, necessitates automation to efficiently manage and dispense medications accurately.
• Labor Shortages: Healthcare facilities often face staffing challenges, including a shortage of pharmacists and pharmacy technicians. Automation systems can help alleviate this shortage by handling routine tasks, allowing pharmacy staff to focus on clinical and patient care services.
• Rising Healthcare Expenditure: The global increase in healthcare spending has provided financial support for advanced technologies like pharmacy automation systems. These systems help healthcare facilities improve efficiency and reduce operational costs.
• Pharmacy Workflow Optimization: Automation systems streamline pharmacy workflows by automating prescription filling, medication dispensing, inventory management, and labeling, leading to improved operational efficiency.

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Pharmacy Automation System Market Segments:

By PRODUCT:

• Automated Medication Dispensing Systems
• Automated Storage And Retrieval Systems
• Automated Packaging And Labeling Systems
• Tabletop Tablet Counters
• Automated Compounding Devices

By END USER:

• Hospital Pharmacy
• Retail Pharmacy
• Others

By Region:

• North America  (U.S, Canada, Mexico)
• Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific  (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
• LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

Regional Analysis:

North America has addressed the greatest market size in pharmacy automation market followed by Europe. In addition, factors such as surge in awareness related to benefits of pharmacy automation systems in the region and the presence of key players drive the growth of the market. In addition, Asia-Pacific is expected to exhibit the fastest growth rate.

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