Global Pharmacy Automation Devices Market Report and Forecast 2024-2032

Global Pharmacy Automation Devices Market Outlook

The global pharmacy automation devices market size was valued at USD 5.91 billion in 2023, driven by the increasing emphasis on improving workflow and efficiency of pharmacy practitioners globally. The market is expected to grow at a CAGR of 9.5% during the forecast period of 2024-2032, with the values likely to rise from USD 6.47 billion in 2024 to USD 13.38 billion by 2032.

Pharmacy Automation Devices: Introduction

Pharmacy automation is a mechanically tailored process of handling and distributing medicines. It is aimed at removing repetitive tasks, ensuring accuracy, and efficiency by automating time consuming tasks, like counting pills and putting labels on vials. There are several categories of pharmacy automation devices ranging from programs and websites that help in keeping medical data records, to robots helping in dispensing medicines.

Pharmacy automation devices are designed to improve speed, precision, productivity and manage workflow. It allows a pharmacist to deal with more clinical work and patient centric issues.

Global Pharmacy Automation Devices Market Analysis

With the COVID-19 outbreak, the emphasis on technical automation rose significantly. This is because, during that period, workers decided to work from home, inverse to the high demand for medical operations. The shortage of human workforce propelled hospitals and clinics to lean towards pharmacy automation devices. Hence, the global demand for automation devices has grown significantly during the historical period.

There is a wide range of pharmacy automation devices available in the market. Automated medication dispensing systems, packaging and labelling systems, tablet counters, among others are some of the most common devices in the market. In January 2024, pharmacy chain Walgreens Boots Alliance Inc. was considering selling its pharmacy automation business at USD 2 billion . The unit aids in filling pharmacy prescriptions and is expected to be a major area of interest for major healthcare companies. Therefore, the pharmacy automation devices market value is expected to grow with the rising competition among market leaders.

Pharmacies are shifting towards artificial intelligence (AI), immersive technologies like augmented reality (AR) and virtual reality (VR) to automate the workflow as much as possible. This does not mean that the need for the human workforce is going to deplete but it can facilitate the staff to be involved in customer service and patient care, rather than being caught up in monotonous tasks. The new age pharmacies are expected to see a technology driven future.

Global Pharmacy Automation Devices Market Segmentation

Market Breakup by Product Type

• Automated Medication Dispensing Systems  

• Automated Packaging and Labeling Systems  

• Automated Tablet Counters  

• Automated Storage and Retrieval Systems  

• Other Products

Market Breakup by End User

• Hospital Pharmacies  

• Retail Pharmacies  

• Online Pharmacies 

• Others

Market Breakup by Region

• North America  

• Europe 

• Asia Pacific 

• Latin America 

• Middle East and Africa 

Global Pharmacy Automation Devices Market Overview

Most of the pharmacy automation devices market share was owned by North America in the historical period. This can be attributed to massive technological advancements, along with significant merger acquisitions in the healthcare and pharmaceutical industry. For example, in June 2023, BD , one of the leading medical technology companies, acquired Parata systems, a new age pharmacy automation solutions company. With this acquisition, BD seeks to bring a smart and high-tech revolution to the pharmacy automation device market.

Rapid growth is anticipated in the Asian pacific region, owing to high investments from the government to enhance the prevailing infrastructure. Automation systems, robotics along with immersive technologies are a key field of interest for researchers and investors. As hospitals and pharmacies continue to set up, the pharmacy automation systems market demand is expected to face a surge in the territory.

Global Pharmacy Automation Devices Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• ARxIUM

• OMNICELL INC.

• Cerner Corporation

• Capsa Healthcare

• ScriptPro LLC

• RxSafe, LLC

• MedAvail Technologies Inc.

• Asteres Inc.

• InterLink AI Inc.

• BD

• Baxter

• McKesson Corporation

• Innovation Associates

Key Highlights of the Report