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Hospital Pharmacy Segment to be Largest Contributor to Pharmacy Automation Equipment Market During 2021–2028
According to our latest study on “Pharmacy Automation Equipment Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and End User,” the market was valued at US$ 4,984.70 million in 2020 and is projected to reach US$ 9,195.36 million by 2028; it is expected to grow at a CAGR of 8.0% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market.
Although the healthcare sector had witnessed SARS, H1N1, and other outbreaks in the last few years, the severity of the COVID-19 has intensified due to its mode of transmission. North America has been witnessing a growing number of COVID-19 cases since its outbreak. The outbreak led to a chaotic situation in the medical industry across North American countries, leading to dramatic rise in demand for diagnostic and therapeutic devices. The pharmacy automation equipment market has been experiencing a positive impact due to the increasing rate of disease transmission from healthcare workers to patients and the rising demand for medications across the region. The urge of maintaining social distancing led to the surge in preference for automated systems in healthcare facilities and pharmacies to reduce the spread of the virus.
Based on end user, the pharmacy automation equipment market is segmented into hospital pharmacy, retail pharmacy, and others. The hospital pharmacy segment held the largest share of the market in 2020. However, the retail pharmacy segment is estimated to register the highest CAGR in the market during the forecast period. The growth of the retail pharmacy segment can be attributed to the stringent government norms pertaining to medicine inventory and untapped market of remote locations.
Talyst LLC (Swisslog Healthcare), AmerisourceBergen, Baxter International Inc, Capsa Healthcare, OMNICELL INC, Cerner Corporation, MCKESSON CORPORATION, ScriptPro LLC, BD, and YUYAMA Co., Ltd are among the leading companies operating in the global pharmacy automation equipment market.
The report segments global pharmacy automation equipment market as follows:
- Automated Medication Dispensing Systems
- Automated Packaging & Labelling Systems
- Automated Storage & Retrieval Systems
- Automated Compounding Devices
- Tabletop Tablet Counters
By End User
- Hospital Pharmacy
- Retail Pharmacy
- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of APAC
- Middle East and Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
- South and Central America (SCAM)
- Rest of SCAM