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Increasing adoption of robots in pharmaceutical industries is a major factor driving pharmacy automation market revenue growth
— Emergen Research
VANCOUVER, BC, CANADA, June 13, 2023/EINPresswire.com/ — The global pharmacy automation market size was USD 5.41 Billion in 2021 and is expected to register a steady revenue CAGR of 8.3% during the forecast period, according to latest analysis by Emergen Research. Rising need for reducing errors in medication, technological advancement in pharmacy and medical sectors, increasing adoption of robots in pharmaceutical industries, and government initiatives for vaccine and drug dispensing are key factors driving t market growth revenue.
People now rely more on automation and robotics. Robots can fulfill requirement to uphold strict hygiene standards, can do so without committing any mistakes, and can shield workers from hazardous environmental tasks. For instance, on March 30, 2022, Walgreens Boots Alliance opened robot-automated micro-fulfilment centres across the U.S. to fill customer’s prescriptions as the roles of stores and pharmacists change.
The Pharmacy Automation market report focuses on the economic developments and consumer spending trends across different countries for the forecast period 2022 to 2030. The research further reveals which countries and regions will have a better standing in the years to come. Apart from this, the study talks about the growth rate, market share as well as the recent developments in the Pharmacy Automation industry worldwide. Besides, the special mention of major market players adds importance to the overall market study.
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Some Key Highlights From the Report
The automated medication dispensing systems segment accounted for largest revenue share in 2021. This is due to increasing efficiency of perioperative staff by placing automated dispensing cabinets within easy reach of patients owing to availability of medication storage at Point of Care (PoC). Automated dispensing machines, which offer computer-controlled medication storage, dispensing, and tracking, have been suggested as a potential method to increase effectiveness and patient care and nowadays they are commonly used in many hospitals.
The fully-automatic segment registered for significantly fast revenue growth rate over the forecast period. Businesses in these industry sectors can manage operations both on-site and inside offices more efficiently with the help of fully automated solutions. Full-Automatic unit dose packing systems are robotic devices that are pneumatically or electrically impelled and can deblister and pack various pharmaceuticals, including tablets, capsules, vials, and Intravenous (IV) bags. These systems can help to improve accuracy, increase workflow of devices, and decrease labor cost, thereby driving revenue growth of this segment.
The subject matter experts conducting the study offer a deep understanding of how prominent leaders have managed to navigate the potential buyers and competitive dynamics influencing their brand positioning in the industry The Pharmacy Automation market analysis provides everything a business owner needs in order to succeed.
Leading Key Players Operating in the Pharmacy Automation Market Includes:
BD., Oracle, Parata Systems, LLC., ScriptPro LLC, PVA., KUKA AG, Talyst, LLC., RxSafe, LLC., ARxIUM, and Noritsu Pharmacy Automation.
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For better understanding, the report further divides the market into key segments such as product types and application spectrum. The report also offers estimates about the segment and sub-segment expected to grow at a rapid pace and the key factors expected to drive revenue growth of the segments during the forecast timeline of 2022-2030.
Emergen Research has segmented the global pharmacy automation market based on product, mode of automation, end-use, and region:
Product Outlook (Revenue, USD Billion; 2019-2030)
Automated Medication Dispensing Systems
Automated Packaging and labeling system
Automated compounding devices
Others
Mode of Automation Outlook (Revenue, USD Billion; 2019-2030)
Fully-automatic
Semi-automatic
End-Use Outlook (Revenue, USD Billion; 2019-2030)
Hospital Pharmacies
Retail Pharmacies
Others
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Regional Segmentation;
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report offers insightful information about the market dynamics of the Pharmacy Automation market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Pharmacy Automation market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Pharmacy Automation market.
Key point summary of the report:
The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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