Pharmacy Automation Market is Expected to Hits $5.38 Billion by 2022

The growth in this market is mainly attributed to factors such as growing need to minimize medication errors, rapid decentralization of pharmacies, rising geriatric population, and rising labor cost.

Pharmacy Automation Market by Product (Medication Dispensing System (Robot, Carousel), Packaging & Labeling System (Unit Dose, Multi Dose), Tabletop Counter, Storage System), End User (Inpatient, Outpatient, Retail Pharmacy) - Global Forecast to 2022"

Becton, Dickinson, and Company (U.S.), and Omnicell, Inc. (U.S.) held the major share of the pharmacy automation systems market and will continue to dominate the market between 2017 and 2022.

Other major players operating in this market are Cerner Corporation (U.S.), Capsa Healthcare (U.S.), Parata Systems LLC (U.S), Baxter International, Inc. (U.S.), ScriptPro LLC (U.S.), KUKA AG (Germany), TCGRx Pharmacy Workflow Solutions (U.S.), RxSafe, LLC (U.S.), ARxIUM Inc. (U.S.) and Talyst Systems LLC. (U.S.).

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The pharmacy automation market witnessed healthy growth rate during the last decade and is expected to grow at a CAGR of 8.2% between 2017 and 2022 to reach USD 5.38 Billion by 2022.

The pharmacy automation market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is the fastest-growing market for pharmacy automation systems. Increasing healthcare spending and government initiatives to develop HCIT infrastructure has increased the growth of pharmacy automation market in this region.

On the other hand, with the rapid rise in the number of patients, demand for quality care, and effective upgradation of the healthcare IT infrastructure is expected to have a positive impact on the demand for pharmacy automation systems market in APAC region.