November 6, 2023 : The global pharmacy automation market is poised for significant growth, driven by the accelerating digitalization of healthcare systems and the increasing demand for efficient and error-free medication dispensing. A recent report by market research firm Valuates Reports forecasts that the market will reach $12.9 billion by 2028, growing at a compound annual growth rate (CAGR) of 10.2% from 2023 to 2028.
The adoption of pharmacy automation solutions is being fueled by several factors, including:
The need for improved efficiency and accuracy in medication dispensing: Pharmacy automation systems can automate repetitive tasks such as pill counting and packaging, freeing pharmacists’ time to focus on patient counseling and other clinical services. This can help to improve patient care and reduce medication errors.
The growing prevalence of chronic diseases: The rising number of people with chronic conditions such as diabetes and hypertension is leading to an increased demand for prescription medications. Pharmacy automation systems can help to manage the growing workload and ensure that patients receive their medications on time and accurately.
The aging population: The world’s population is aging, and older adults are more likely to take multiple medications. Pharmacy automation systems can help ensure these patients receive the correct medications and dosages.
The growing adoption of pharmacy automation solutions is revolutionizing healthcare systems by improving efficiency, accuracy, and patient safety. As healthcare systems become increasingly digitalized, the demand for these solutions will continue to grow.
A few large players, such as McKesson, Omnicell, and Swisslog, dominate the pharmacy automation market. However, there is also a growing number of smaller companies developing innovative solutions. This competition is driving innovation and helping to bring down the cost of pharmacy automation systems.
The pharmacy automation market is poised for significant growth in the coming years. The digitalization of healthcare systems is driving the adoption of these solutions, the growing prevalence of chronic diseases, and the aging population. As healthcare providers look for ways to improve efficiency and patient safety, pharmacy automation is becoming an increasingly important tool.