1. What is the projected Compound Annual Growth Rate (CAGR) of the U.S. Pharmacy Automation Devices Market?
The projected CAGR is approximately 10.8 %.
U.S. Pharmacy Automation Devices MarketU.S. Pharmacy Automation Devices Market Report Probes the USD Billion Size, Share, Growth Report and Future Analysis by 2033
U.S. Pharmacy Automation Devices Market by Product (Automated Medication Dispensing Systems [Robotic Dispensing Systems, Automated Dispensing Cabinets], Automated Packaging Systems, Others), by Distribution Model (Centralized, Decentralized), by End-user (Hospitals Pharmacies, Retail Pharmacies, Others), by Forecast 2025-2033
Base Year: 2024
120 Pages
U.S. Pharmacy Automation Devices Market Report Probes the USD Billion Size, Share, Growth Report and Future Analysis by 2033
U.S. Pharmacy Automation Devices Market Report Probes the USD Billion Size, Share, Growth Report and Future Analysis by 2033
Key Insights
The U.S. Pharmacy Automation Devices Market size was valued at USD 1.27 USD Billion in 2023 and is projected to reach USD 2.60 USD Billion by 2032, exhibiting a CAGR of 10.8 % during the forecast period. The automation device is an advanced machine, that has been equipped to the users so as to greatly facilitate the medication dispensing activities in the pharmacy. Now, these automated devices are able to take the stress off of the activities like medication packing wrapping, labeling, dispensing, and controlling the final product, instead of humans. This more error-free and easier approach gives rise to production. The automated accountant, drug dispensed systems like medication dispensing systems, automated storage retrieval systems, technical prescription dispensing systems, and automatic compounding devices are the systems that can be used. Generally, it would come in with the capacity to scan bar codes, perform tasks like inventory management, and be easily interfaced with the pharmacy management software. Automation devices are multidimensional and their applications are found in independent pharmacies, hospitals, nursing homes and rehabilitation centers, mail-order pharmacies, and all affiliations related to safe drug delivery and patient care. In the USA, the spine medication devices market is progressing at a rapid rate because of the increased demand for pharmaceutical services, to improve the workflow and to allow patients to adhere properly to treatment plans. Such help was acutely needed during the COVID-19 pandemic.
U.S. Pharmacy Automation Devices Trends
- Increased focus on patient safety and medication adherence
- Integration of AI and IoT technologies for improved efficiency and accuracy
- Adoption of cloud-based solutions for remote monitoring and management
- Growing demand for automated dispensing systems in retail pharmacies
Driving Forces: What's Propelling the U.S. Pharmacy Automation Devices Market
- Technological Advancements: The integration of cutting-edge technologies like artificial intelligence (AI), machine learning (ML), and robotics is revolutionizing pharmacy operations. These advancements enable enhanced efficiency, precision in medication dispensing, significantly reduced medication errors, and streamlined workflows, leading to improved overall performance and patient safety. Specific examples include robotic prescription filling systems and AI-powered medication verification tools.
- Rising Healthcare Costs and the Need for Efficiency: The escalating cost of healthcare necessitates innovative solutions to optimize resource utilization. Pharmacy automation devices directly address this by automating repetitive tasks, thereby reducing labor costs. Furthermore, precise dispensing minimizes medication waste and improves inventory management, contributing to substantial cost savings for pharmacies and healthcare systems as a whole.
- Government Initiatives and Regulatory Support: The U.S. government actively promotes the adoption of pharmacy automation through various initiatives, including regulatory approvals, funding programs, and incentives. This supportive environment encourages investment in automation technologies to achieve better patient outcomes, improve medication adherence, reduce overall healthcare expenditure, and ensure compliance with evolving regulatory standards.
- The Growing Burden of Chronic Diseases: The increasing prevalence of chronic diseases, such as diabetes, cardiovascular disease, and cancer, demands complex and precise medication regimens. Pharmacy automation devices play a crucial role in managing these regimens, ensuring accurate and timely medication administration, and thereby improving patient adherence and health outcomes.
- Seamless Integration with Healthcare IT Systems: Modern pharmacy automation devices are designed for seamless integration with electronic health records (EHRs), pharmacy management systems (PMS), and other healthcare IT infrastructure. This interoperability facilitates real-time medication tracking, enhanced data exchange, and improved overall coordination of care.
- Patient-Centric Focus and Demand for Convenience: Automation enhances patient experience through convenient medication dispensing options, including self-service kiosks, mobile applications, and even remote medication access. This improved convenience leads to increased patient satisfaction, better medication adherence, and a more positive overall healthcare experience.
- Addressing the Critical Healthcare Workforce Shortage: The persistent shortage of qualified pharmacy technicians and pharmacists necessitates solutions that optimize existing staff resources. Automation devices alleviate the burden of repetitive tasks, freeing up pharmacy professionals to focus on higher-value activities such as patient counseling, disease management, and providing personalized medication education.
- Prioritizing Patient Safety and Quality of Care: The ultimate goal of pharmacy automation is to improve patient safety and the quality of care. By reducing medication errors, enhancing medication accuracy and adherence, and providing real-time monitoring capabilities, these devices contribute to improved patient outcomes and a significant reduction in adverse drug events.
Challenges and Restraints in the U.S. Pharmacy Automation Devices Market
- High cost of implementation: Purchasing and maintenance costs can be a barrier for smaller pharmacies
- Lack of reimbursement: Limited coverage by insurance companies for automation devices
- Integration challenges: Compatibility issues with existing pharmacy systems can impede adoption
Emerging Trends in U.S. Pharmacy Automation Devices
- Mobile apps: Apps for remote medication management and tracking
- Wearable devices: Integration with wearables for medication reminders and monitoring
- Use of robotics: Automated robotic systems for dispensing and packaging medications
Growth Catalysts in the U.S. Pharmacy Automation Devices Industry
- Rising demand for personalized medicine: Automation devices enable efficient handling of individual patient profiles
- Government incentives: Programs to promote automation adoption in pharmacies
- Growing awareness of medication errors: Automation reduces human error, improving patient safety
Leading Players in the U.S. Pharmacy Automation Devices Market
- Omnicell, Inc. (U.S.)
- BD (U.S.)
- Yuyama Co., Ltd. (Japan)
- Baxter (U.S.)
- Capsa Healthcare (U.S.)
- ScriptPro LLC (U.S.)
- RxSafe, LLC. (U.S.)
- Swisslog Healthcare (KUKA AG) (Switzerland)
Significant Developments in the U.S. Pharmacy Automation Devices Sector
- Omnicell acquired Curlin Medical in 2022 to expand its automation solutions portfolio
- BD launched BD Rowa Vmax 160 Automated Dispensing Cabinet in 2021
- ScriptPro partnered with Walgreens in 2022 to implement automated dispensing systems in pharmacies
Comprehensive Coverage U.S. Pharmacy Automation Devices Market Report
- Market size and growth projections
- Detailed analysis of market segments and trends
- In-depth insights into market drivers, challenges, and growth catalysts
- Profiles of leading industry players and their strategies
- Comprehensive coverage of industry developments and recent innovations
DROCT
- D: Drivers: Technological advancements, rising healthcare costs, government initiatives
- R: Restraints: High implementation costs, lack of reimbursement
- O: Opportunities: Rising demand for personalized medicine, government incentives
- C: Challenges: Integration challenges, limited technical expertise
- T: Trends: Mobile apps, wearable devices, use of robotics
Pricing Analysis
- Automated Medication Dispensing Systems: USD 50,000 - USD 200,000
- Automated Packaging Systems: USD 25,000 - USD 100,000
Import And Export Analysis
- Imports account for a significant portion of the U.S. market
- Major exporting countries: Japan, Germany, China
Segmentation
Product:
- Automated Medication Dispensing Systems
- Robotic Dispensing Systems
- Automated Dispensing Cabinets
- Automated Packaging Systems
- Others
Distribution Model:
- Centralized
- Decentralized
End-user:
- Hospitals Pharmacies
- Retail Pharmacies
- Others
Patent/Trademark Analysis
- Key patents related to automation technology in the healthcare industry
- Analysis of recent trademark filings for pharmacy automation devices
U.S. Pharmacy Automation Devices Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 10.8 % from 2019-2033 |
| Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Rising Strategic Acquisitions and Product Launches by Key Corporations will Propel Growth
- 3.3. Market Restrains
- 3.3.1. Need for High Capital Investments for Installation of the Devices to Hamper Market Growth
- 3.4. Market Trends
- 3.4.1. Rise in Adoption of Robotic Automated Systems across the U.S. Hospital Pharmacies to Propel Market Growth
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. U.S. Pharmacy Automation Devices Market Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Product
- 5.1.1. Automated Medication Dispensing Systems [Robotic Dispensing Systems
- 5.1.2. Automated Dispensing Cabinets]
- 5.1.3. Automated Packaging Systems
- 5.1.4. Others
- 5.2. Market Analysis, Insights and Forecast - by Distribution Model
- 5.2.1. Centralized
- 5.2.2. Decentralized
- 5.3. Market Analysis, Insights and Forecast - by End-user
- 5.3.1. Hospitals Pharmacies
- 5.3.2. Retail Pharmacies
- 5.3.3. Others
- 5.4. Market Analysis, Insights and Forecast - by Region
- 5.4.1.
- 5.1. Market Analysis, Insights and Forecast - by Product
- 6. Northeast U.S. Pharmacy Automation Devices Market Analysis, Insights and Forecast, 2019-2031
- 7. Southeast U.S. Pharmacy Automation Devices Market Analysis, Insights and Forecast, 2019-2031
- 8. Midwest U.S. Pharmacy Automation Devices Market Analysis, Insights and Forecast, 2019-2031
- 9. Southwest U.S. Pharmacy Automation Devices Market Analysis, Insights and Forecast, 2019-2031
- 10. West U.S. Pharmacy Automation Devices Market Analysis, Insights and Forecast, 2019-2031
- 11. Competitive Analysis
- 11.1. Market Share Analysis 2024
- 11.2. Company Profiles
- 11.2.1 Omnicell Inc. (U.S.)
- 11.2.1.1. Overview
- 11.2.1.2. Products
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Financials (Based on Availability)
- 11.2.2 BD (U.S.)
- 11.2.2.1. Overview
- 11.2.2.2. Products
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Financials (Based on Availability)
- 11.2.3 Yuyama Co. Ltd. (Japan)
- 11.2.3.1. Overview
- 11.2.3.2. Products
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Financials (Based on Availability)
- 11.2.4 Baxter (U.S.)
- 11.2.4.1. Overview
- 11.2.4.2. Products
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Financials (Based on Availability)
- 11.2.5 Capsa Healthcare (U.S.)
- 11.2.5.1. Overview
- 11.2.5.2. Products
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Financials (Based on Availability)
- 11.2.6 ScriptPro LLC (U.S.)
- 11.2.6.1. Overview
- 11.2.6.2. Products
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Financials (Based on Availability)
- 11.2.7 RxSafe LLC. (U.S.)
- 11.2.7.1. Overview
- 11.2.7.2. Products
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Financials (Based on Availability)
- 11.2.8 Swisslog Healthcare (KUKA AG) (Switzerland)
- 11.2.8.1. Overview
- 11.2.8.2. Products
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Financials (Based on Availability)
- 11.2.1 Omnicell Inc. (U.S.)
List of Figures
- Figure 1: U.S. Pharmacy Automation Devices Market Revenue Breakdown (undefined, %) by Product 2024 & 2032
- Figure 2: U.S. Pharmacy Automation Devices Market Share (%) by Company 2024
List of Tables
- Table 1: U.S. Pharmacy Automation Devices Market Revenue undefined Forecast, by Region 2019 & 2032
- Table 2: U.S. Pharmacy Automation Devices Market Revenue undefined Forecast, by Product 2019 & 2032
- Table 3: U.S. Pharmacy Automation Devices Market Revenue undefined Forecast, by Distribution Model 2019 & 2032
- Table 4: U.S. Pharmacy Automation Devices Market Revenue undefined Forecast, by End-user 2019 & 2032
- Table 5: U.S. Pharmacy Automation Devices Market Revenue undefined Forecast, by Region 2019 & 2032
- Table 6: U.S. Pharmacy Automation Devices Market Revenue undefined Forecast, by Country 2019 & 2032
- Table 7: Northeast U.S. Pharmacy Automation Devices Market Revenue (undefined) Forecast, by Application 2019 & 2032
- Table 8: Southeast U.S. Pharmacy Automation Devices Market Revenue (undefined) Forecast, by Application 2019 & 2032
- Table 9: Midwest U.S. Pharmacy Automation Devices Market Revenue (undefined) Forecast, by Application 2019 & 2032
- Table 10: Southwest U.S. Pharmacy Automation Devices Market Revenue (undefined) Forecast, by Application 2019 & 2032
- Table 11: West U.S. Pharmacy Automation Devices Market Revenue (undefined) Forecast, by Application 2019 & 2032
- Table 12: U.S. Pharmacy Automation Devices Market Revenue undefined Forecast, by Product 2019 & 2032
- Table 13: U.S. Pharmacy Automation Devices Market Revenue undefined Forecast, by Distribution Model 2019 & 2032
- Table 14: U.S. Pharmacy Automation Devices Market Revenue undefined Forecast, by End-user 2019 & 2032
- Table 15: U.S. Pharmacy Automation Devices Market Revenue undefined Forecast, by Country 2019 & 2032
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.
Frequently Asked Questions
2. Which companies are prominent players in the U.S. Pharmacy Automation Devices Market?
Key companies in the market include Omnicell, Inc. (U.S.), BD (U.S.), Yuyama Co., Ltd. (Japan), Baxter (U.S.), Capsa Healthcare (U.S.), ScriptPro LLC (U.S.), RxSafe, LLC. (U.S.), Swisslog Healthcare (KUKA AG) (Switzerland).
3. What are the main segments of the U.S. Pharmacy Automation Devices Market?
The market segments include Product, Distribution Model, End-user.
4. Can you provide details about the market size?
The market size is estimated to be USD XXX N/A as of 2022.
5. What are some drivers contributing to market growth?
Rising Strategic Acquisitions and Product Launches by Key Corporations will Propel Growth.
6. What are the notable trends driving market growth?
Rise in Adoption of Robotic Automated Systems across the U.S. Hospital Pharmacies to Propel Market Growth.
7. Are there any restraints impacting market growth?
Need for High Capital Investments for Installation of the Devices to Hamper Market Growth.
8. Can you provide examples of recent developments in the market?
December 2022: TOUCHPOINT MEDICAL, INC., entered into an innovation agreement with ApoEx to supply pharmaceutical dispensing cabinets within public and private healthcare in Sweden.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 2850, USD 3850, and USD 4850 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in N/A.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "U.S. Pharmacy Automation Devices Market," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the U.S. Pharmacy Automation Devices Market report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the U.S. Pharmacy Automation Devices Market?
To stay informed about further developments, trends, and reports in the U.S. Pharmacy Automation Devices Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.