Global Pharmacy Automation Market is expected to grow at a rate of 8.5% by 2026 : Key Market Players are Becton Dickinson, Omnicell, KUKA AG, Baxter, Capsa Healthcare
Medi-Tech Insights: Growing awareness regarding pharmacy automation, rapid decentralization of pharmacies, the rising demand to minimize medication errors, increased demand for faster prescription processing, and technological advancements for improving efficiency and management of workflow in the pharmacy are some of the key factors driving the global pharmacy automation market.
Brussels, Belgium, June 13, 2022 (GLOBE NEWSWIRE) --
Pharmacy automation is defined as a mechanical system that performs operations involving the storage, packaging, dispensing, or distribution of medications while enabling control of the operation and electronic documentation of transactions. It enables pharmacies to streamline workflows and reduce the risk of errors.
Advent of Advanced Pharmacy Automation Technologies Drives the Pharmacy Automation Market
Advancement in digital technologies enables pharmacies to handle high prescription loads safely and efficiently. When pharmacy automation first became popular, pill counting was one of the only techniques available in the market. Nowadays, there are several more accessible automation machines available some of them include, automated medication dispensing systems, automated storage and retrieval systems, automated packaging and labeling systems, table-top tablet counters, and automated compounding devices. Recently, several technological developments have been made to improve the common tasks and processes performed in a pharmacy or other healthcare settings such as:
In March 2022, Capsa Healthcare announced an expansion to its suite of NexsysADC automated dispensing cabinets. NexsysADC can accommodate any size of controlled or high-value medications or supplies in two new sizes of Controlled Access Module Drawers.
In August 2021, Innovation Associates announced the launch of its Smart-Pod, a next-generation robot for central-fill pharmacy environments. Smart-Pod allows providers to adjust and scale their centralized fulfillment solutions to meet demands.
Switch towards Pharmacy Automation System Over Manual Methods
In the pharmacy system, various processes such as tablet counting, IV dosage fillings, medicine dispensing, etc. were done manually. The manual method used many workers, extra time in completion of the work, errors were common in these processes. But as the benefits offered by pharmacy automation grew clearer, even traditionalist pharmacies have started to make the switch. Automation increases a pharmacy’s efficiency while dramatically reducing its rate of error. Also, the costs associated with automation continue to drop, and more pharmacies are realizing that they can’t afford to put off automation any longer.
“New pharmacy automation systems are emerging to address the growing demand for medicine in the world. Technology has a key role to play. An advancement in digital technologies enables pharmacies to handle high prescription loads safely and efficiently.” -Vice President, Global Operations and Supply Chain, Pharmacy Automation Company, United States
North America Likely to Continue its Dominance in the Pharmacy Automation Market
From a geographical perspective, North America holds a major market share of the pharmacy automation market. Increasing adoption of new automation technologies in hospitals and pharmacies, a surge in the need to reduce prescription & dispensing errors, the need for improving efficiency and management of workflow in the pharmacy, and an increasing number of hospitals and healthcare laboratories in this region are expected to drive the pharmacy automation market.
Competitive Landscape Analysis: Global Pharmacy Automation Market
Some of the key players operating in the pharmacy automation market include Becton Dickinson and Company, Omnicell Inc., KUKA AG, Baxter International Inc., Capsa Healthcare, among others.
Companies Adopting both Organic & Inorganic Growth Strategies to Increase their Market Share
Players operating in the pharmacy automation market are adopting both organic and inorganic growth strategies such as collaborations, acquisitions, funding, and new product launches to garner market share. For instance,
In May 2022, Deenova announced the launch of its innovative Pay-Per-Dose unit dose pharmacy automation service to the UK market.
In February 2022, Capsa Healthcare announced the acquisition of Humanscale Healthcare, a designer and manufacturer of flexible technology solutions and computing workstations based in New York.
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