Insights
Businesses Embrace the Booming Pharmacy Automation Market, Anticipating a US$ 13.3 Billion by 2033
By
Future Market Insights Global
Pharmacy Automation market thrives amid rising concerns over dispensing errors, driven by a demand for precise healthcare solutions. Automation emerges as a crucial force in ensuring safety and accuracy in doses and labeling.
According to a Future Market Insights (FMI) report, it is anticipated that the global pharmacy automation market would grow from US$ 6.1 Billion in 2023 to US$ 13.3 Billion by 2033. From 2023 to 2033, the market is anticipated to grow at a compound annual growth rate of 8.1%.
Robotic systems automate several physical tasks involved in pharmacy operations, such as dispensing medications, packaging prescriptions, and transporting medications throughout the pharmacy. This enables pharmacists to focus on more clinical tasks, such as patient counseling and medication management.
Artificial intelligence (AI) and machine learning (ML) are increasingly used in pharmacy automation systems for a wide range of tasks in the pharmacy, including prescription filling, inventory management, and patient counseling. For example, AI-powered prescription filling systems can automatically fill prescriptions accurately and quickly, reducing the risk of human error.
Cloud-based systems are more affordable and easier to implement than traditional on-premises systems. They also offer greater flexibility and scalability, making them a good option for pharmacies of all sizes, stimulating the adoption of cloud-based pharmacy automation systems.
Key Takeaways:
The global pharmacy automation market is estimated to register a CAGR of 8.1%, reaching a valuation of US$ 13.3 Billion by 2033.
The market grew at a CAGR of 10.2% during the historical period from 2018 to 2022.
The United States is anticipated to dominate the global market by registering an 8.3% CAGR during the forecast period.
The market in China is anticipated to progress at a CAGR of 8.7% through 2033.
The market in Japan is expected to secure a CAGR of 9.3% during the forecast period.
"Interoperability allows pharmacy automation systems to communicate with other systems, such as electronic health records (EHRs) and laboratory information systems (LISs). This can improve the efficiency of pharmacy operations and reduce the risk of errors, increasing focus on interoperability between pharmacy automation systems and other healthcare IT systems," - opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
Future Market Insights Global
Jan 3, 2024