Global Pharmacy Automation Equipment Market

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The Pharmacy Automation Equipment Market to Grow
at CAGR of 7.83 by 2028

• Triton Market Research presents the Global
  Pharmacy Automation Equipment Market report
  segmented by Industry Verticals (Hospital
  Pharmacy, Retail Pharmacy, Other Industry
  Verticals), Technology (Automated Table-top
  Counter, Automated Medication Dispensing System,
  Automated Storage and Retrieval System, Automated
  Packaging and Labeling System, Other
  Technologies), and by Geography (Latin America,
  Asia-Pacific, Europe, North America, Middle East
  and Africa). It further considers the Market
  Summary, Industry Outlook, Impact of COVID-19,
  Key Insights, Porters Five Forces Analysis,
  Market Attractiveness Index, Vendor Scorecard,
  Key Strategic Developments, Drivers, Challenges,
  Opportunities, Company Profile, Methodology
  Scope, Global Market Size, Forecasts Analysis
  (2022- 2028).
• Based on estimates by Triton, the global pharmacy
  automation equipment market is set to garner
  7.83 of CAGR during the forecasted period
  2022-2028.

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Pharmacy automation includes decentralized,
centralized, or automated labeling, packaging,
and other systems. They primarily help in
reducing errors, improving overall
workflow. Specialty drugs are high-cost
medications useful to treat multiple conditions,
such as cancer, arthritis, and multiple
sclerosis. These drugs require special handling,
effective cost controls, and appropriate clinical
outcomes. In this regard, automation helps in
reducing medical errors, ensuring patients
safety. Hence, the growing demand for specialty
drugs offers various opportunities to the
pharmacy automation equipment market. The
Asia-Pacific is expected to become the fastest
evolving region in the pharmacy automation
equipment market. This growth is mainly owing to
the product development by major companies,
rising occurrence of chronic diseases, and
surging geriatric population. Other than this,
artificial intelligence and machine learning
offer opportunities to the regions studied
market. For instance, COBOT, a Chinese startup,
introduced a robot for dispensing medicines to
identify various drugs apart. Therefore, these
factors are expected to widen the scope of the
pharmacy automation equipment market. Pearson
Medical Technologies, Becton Dickinson and
Company, Alixarx, Amerisourcebergen, Parata
Systems LLC, Scriptpro LLC, Newicon Oy, McKesson
Corporation, Omnicell Inc, Accu Chart Plus
Healthcare System Inc, Capsa Healthcare LLC,
Perceptimed Inc, Arxium Inc, Cerner Corporation,
Avery Weigh Tronix, Swisslog Holdings AG, and
Baxter International Inc are key companies in the
pharmacy automation equipment market. Stringent
regulation, high capital investment, and the need
for technological expertise restrict the entry of
new players significantly. However, the threat of
new entrants has grown in the past few years due
to the trend consolidating in pharmacy chains.
Moreover, the changing regulatory landscape
offers lucrative opportunities to new players.
Further, several existing companies are competing
heavily in the market relating to technical and
consumer acquisition. Hence, the threat of new
players is expected to be moderate, whereas the
competition level is expected to increase in the
next few years.
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