Global Pharmacy Automation Market Analysis With Opportunity Segments

The Business Research Company's Pharmacy Automation Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 28, 2024 /EINPresswire.com/ -- The pharmacy automation market is poised for substantial growth, expected to increase from $6.58 billion in 2023 to $7.32 billion in 2024 at a CAGR of 11.2%. This growth is driven by a shortage of skilled pharmacy staff, stringent regulations, the need to reduce medication errors, enhanced data management, and patients' expectations for faster service.

Surge in Disease Rates Fuels Market Expansion
The increasing disease rates are anticipated to propel the pharmacy automation market forward. Factors such as population growth, increased travel and trade, climate change, pollution, and the emergence of new infectious agents contribute to this surge. Pharmacy automation systems streamline medication dispensing processes, enhancing accuracy and efficiency in disease management. For example, according to the National Library of Medicine, the U.S. is projected to see a 99.5% increase in individuals aged 50 and older with at least one chronic condition by 2050. This highlights the critical role of pharmacy automation in managing the rising demand for healthcare services.

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Key Players and Market Trends
Major players such as McKesson Corporation, AmerisourceBergen Corporation, and Oracle Corporation are focusing on expanding their product portfolios with advanced pharmacy automation solutions. These innovations, including next-generation automated drug dispensing systems, offer competitive advantages. For instance, JVM Co. Ltd. launched MENITH, an automated dispensing machine featuring a robotic arm with articulated movement, in October 2023. This next-generation product significantly increases dispensing speed and includes an automated inspection system to reduce the resources required for pharmacy dispensing processes.

Major Trends: AI, Robotics, and Blockchain Integration
The forecast period is expected to see several key trends, including AI-powered systems, telepharmacy solutions, increased use of robotics, centralized systems for prescription processing, and blockchain technology adoption. These advancements aim to enhance efficiency, accuracy, and security in pharmacy operations.

Segments:
• Product: Dispensing Systems, Pill Sorting Machines, Labelling Machines, Packaging Machines, Inventory Management, Automated Storage and Retrieval Systems, Other Products
• Application: Drug Dispensing and Packaging, Drug Storage, Inventory Management
• End User: Inpatient Pharmacies, Outpatient Pharmacies, Retail Pharmacies, Pharmacy Benefit Management Organizations, and Mail-Order Pharmacies

Geographical Insights: North America Leading, Asia-Pacific Fastest Growing
North America dominated the pharmacy automation market in 2023, while Asia-Pacific is expected to be the fastest-growing region during the forecast period. The detailed report offers comprehensive insights into regional dynamics, market trends, and growth opportunities.

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Pharmacy Automation Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Pharmacy Automation Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on pharmacy automation market size, pharmacy automation market drivers and trends, pharmacy automation market major players, competitors' revenues, market positioning, and market growth across geographies. The pharmacy automation market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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