Pharmacy Automation Systems Global Market Report 2024

The pharmacy automation systems market size has grown strongly in recent years. It will grow from $5.42 billion in 2023 to $5.86 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth observed in the historical period can be attributed to the elimination of manual medicine delivery, heightened pharmaceutical safety measures, and a reduction in medication errors.

The pharmacy automation systems market size is expected to see strong growth in the next few years. It will grow to $7.91 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The anticipated growth in the forecast period can be attributed to the rising number of retail pharmacies, favorable government policies supporting the industry, and a growing adoption of robotic pharmacy solutions. Key trends expected in the forecast period encompass product innovations, technological advancements in pharmacy automation systems, and increased prevalence of partnerships and collaborations within the industry.

The pharmacy automation systems market is poised for growth due to the increasing prevalence of medication errors. Medication errors, encompassing mistakes or preventable incidents related to medication use, pose risks across various stages of healthcare processes, including prescribing, dispensing, administering, and monitoring. Pharmacy automation systems play a crucial role in mitigating these errors by maintaining accurate and comprehensive records of dispensed medications and patient histories. This ensures easy access to information for healthcare providers, reducing the likelihood of errors arising from incomplete or missing data. Notably, in September 2022, the World Health Organization reported medication error rates in hospitals ranging from 0.3% to 9.1% in prescriptions and 1.6% to 2.1% at the dispensing stage, with a corresponding cost of €2 billion (2.17 billion) in 2022, constituting 3% of total national healthcare expenditure. The increasing occurrence of medication errors is a key driver fueling the growth of the pharmacy automation systems market.

Leading companies in the pharmacy automation systems market are embracing robotic pharmacies to enhance efficiency, reduce errors, and improve patient safety. Robotic pharmacies, a subset of pharmacy automation systems, employ robots for medication management and dispensing. For example, in December 2021, Innovation Associates, a US-based pharmacy automation company, introduced SmartPod, an innovative robot designed for central-fill pharmacy environments. SmartPod stands out with its modular design, allowing pharmacy providers to customize and scale centralized fulfillment solutions according to demand. Leveraging the 4L canister, this modular robotic prescription filling pod enhances volumetric capacity, contributing to increased efficiency.

In February 2022, Capsa Healthcare, a US-based company specializing in medication management and pharmacy automation solutions, acquired Humanscale Healthcare for an undisclosed amount. This acquisition has fortified Capsa Healthcare's position as a preferred global provider of point-of-care solutions and expanded its product portfolio. The strategic move enables Capsa Healthcare to offer a broader spectrum of healthcare delivery solutions catering to the needs of hospitals, long-term care facilities, and retail pharmacy providers. Humanscale Healthcare, a US-based company specializing in pharmacy automation systems, has contributed to the expanded capabilities and product offerings of Capsa Healthcare.

Major companies operating in the pharmacy automation systems market report are CVS Health, AmerisourceBergen Corporation, Cardinal Health, Kroger Company, Danaher Corporation, Rite Aid Corporation, Becton, Dickinson and Company, Cerner Corporation, Epic Systems Corporation, KUKA AG (Swisslog Healthcare), Automated Healthcare Systems Incorporated, Omnicell Inc., Swisslog Holdings AG, Parata Systems LLC, Scriptpro LLC, Capsa Healthcare, Arxium Inc., Talyst LLC, Kirby Lester LLC, Yuyama Co. Ltd., Rx Safe LLC, Pharmatech Corporation, Pearson Medical Technologies, Hy-Tek Medical Limited, Rotech Healthcare.

North America was the largest region in the pharmacy automation systems market in 2023. The regions covered in the pharmacy automation systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the pharmacy automation systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The pharmacy automation systems market consists of sales of robotic prescription dispensing systems, inventory management systems, automated packaging and labeling systems, automated storage and retrieval systems, and automated medication compounding systems. The market value includes the value of related goods sold by the service provider or included within the service offering. The pharmacy automation systems market also includes sales of robotic automated dispensing systems, carousels, unit dose packaging systems, bottle fillers and labelers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Pharmacy automation systems encompass a variety of technologies strategically developed to optimize and elevate processes within a pharmacy environment. The primary objective of these systems is to enhance efficiency, accuracy, and safety in tasks related to medication handling, inventory management, and prescription filling.

Pharmacy automation systems comprise various product types, including automated medication dispensing systems, automated medication compounding systems, automated packaging and labeling systems, automated tabletop counters, and automated storage and retrieval systems. Automated medication dispensing systems play a pivotal role in enhancing efficiency, accuracy, and safety within pharmaceutical operations. These systems operate in different modes, ranging from semi-automatic to fully-automatic, catering to diverse end users such as inpatient pharmacies, outpatient pharmacies, retail pharmacies, pharmacy benefit management organizations, and mail-order pharmacies.

The pharmacy automation systems market research report is one of a series of new reports that provides pharmacy automation systems market statistics, including pharmacy automation systems industry global market size, regional shares, competitors with a pharmacy automation systems market share, detailed pharmacy automation systems market segments, market trends and opportunities, and any further data you may need to thrive in the pharmacy automation systems industry. This pharmacy automation systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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