The size of the Pharmacy Automation System Market in the Asia Pacific was around USD 0.69 Billion in 2021. It is expected to grow at a CAGR of 9.1% to reach USD 1.06 Billion by 2026. It captures 15% of the global market.
The APAC pharmacy automation systems market is majorly driven by expanding acceptance and demand for automated solutions in pharmacies and socio-economic reasons such as rising illness occurrences due to an aging population. These automated technologies let physicians focus on direct patient care by streamlining the pharmacy process and reducing the risk of mistakes. Product advancements and rising hospitalization rates are secondary growth drivers. Hospitals may track and manage medications, supplies, and health information about patients using Pharmacy Automation Systems, ensuring that only the needed products are replenished.
Pharmacists and healthcare professionals can save money by adopting an automated system. Tablet computations, compound preparation, prescription management, medicine packaging, dispensing, and inventory management may be automated. When various technologies are combined, each system's advantages may be achieved.
During the forecast period, growth is predicted to be boosted by Brazil, China, and India and the increased need for pharmacy and health operations automation and untapped development potential. Government rules on packaging, labeling, and pharmaceutical mixtures also hasten automated packaging and labeling systems. The rising prevalence of safer pharmaceuticals, combined with chronic illness occurrences, is a significant driver of market growth. In addition, the growing number of hospitals and medical facilities also fuel the need for the market.
However, the high cost of adopting and installing pharmacy automation systems is predicted to be the key hindrance to market growth. The market's growth is further hindered by a lack of comprehensive knowledge of present systems in rural areas. Although the expense of installing and maintaining the systems is too expensive for small enterprises, it has remained a commercial obstacle. High implementation costs are also a key impediment to the growth of this technology. In this industry, vendors that build low-cost technology for small hospitals and pharmacies will have many opportunities. The market is expected to be limited by all these factors during the forecast period.
This research report on the Asia Pacific pharmacy automation systems market has been segmented and sub-segmented into the following categories.
By End User:
Regionally, the Asia Pacific is the fastest-growing region in the global market. The rapid rise in the number of patients, demand for quality care, and effective up-gradation of the healthcare IT infrastructure is expected to positively impact the demand for the pharmacy automation systems market in APAC.
Due to expanding acceptance and demand for automated solutions in pharmacies and socioeconomic factors such as rising sickness occurrences due to an aging population, the market for pharmacy automation systems in the Asia Pacific is growing.
China is likely to be the market leader in the Asia Pacific for Pharmacy Automation systems during the forecast period. As the number of drug prescription error-related deaths and injuries grows, medical professionals and pharmacists are being pushed to create more efficient technology. In addition, there is an increasing demand for pharmaceutical delivery systems that meet safety criteria and increase patient visits. Advanced automated methods and technologies are the most effective technique to eliminate medication mistakes and improve patient safety.
India is expected to have the second-largest market share, behind China. The introduction of new technologies and a greater emphasis on the establishment of various creative pharmacy systems has only boosted the market's development potential. In addition, the Indian market for Pharmacy Automation Systems is growing due to the government's policy initiatives that benefit the poor.
KEY MARKET PLAYERS:
Companies playing a significant role in the Asia Pacific pharmacy automation system market are Becton, Dickinson, and Company (U.S.), Omnicell, Baxter International, Inc. (U.S.), ScriptPro LLC (U.S.), KUKA AG (Germany), TCGRx Pharmacy Workflow Solutions (U.S.), RxSafe, Inc. (U.S.), Cerner Corporation (U.S.), Capsa Healthcare (U.S.), Parata Systems LLC (U.S), LLC (U.S.), ARxIUM Inc. (U.S.) and Talyst Systems LLC. (U.S.).
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Automated Medication Dispensing Systems
184.108.40.206 Centralized Automated Dispensing Systems
220.127.116.11.1 Robots/Robotic Automated Dispensing Systems
18.104.22.168 Decentralized Automated Dispensing Systems
22.214.171.124.1 Automated Unit-Dose Dispensing Systems
126.96.36.199.2 Pharmacy-Based Automated Dispensing Systems
188.8.131.52.3 Ward-Based Automated Dispensing Systems
5.1.3 Automated Packaging and Labeling Systems
184.108.40.206 Automated Unit-Dose Packaging & Labeling Systems
220.127.116.11 Automated Multi-Dose Packaging & Labeling Systems
5.1.4 Automated Table-Top Counters
18.104.22.168 Automated Medication Compounding Systems
5.1.5 Automated Storage and Retrieval Systems
5.1.6 Other Pharmacy Automation Systems
5.1.7 Y-o-Y Growth Analysis, By Product
5.1.8 Market Attractiveness Analysis, By Product
5.1.9 Market Share Analysis, By Product
5.2 End User
5.2.2 Inpatient Pharmacies
22.214.171.124 Acute Care Settings
126.96.36.199 Long-Term Care Facilities
5.2.3 Outpatient Pharmacies
188.8.131.52 Outpatient/Fast-Track Clinics
184.108.40.206 Hospital Retail Settings
5.2.4 Retail Pharmacies
5.2.5 Pharmacy Benefit Management Organizations and Mail-Order Pharmacies
5.2.6 Y-o-Y Growth Analysis, By End User
5.2.7 Market Attractiveness Analysis, By End User
5.2.8 Market Share Analysis, By End User
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Product
22.214.171.124 By End User
6.1.4 Market Attractiveness Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Product
184.108.40.206 By End User
6.1.5 Market Share Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Product
22.214.171.124 By End User
6.5 South Korea
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Becton, Dickinson and Company
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Omnicell, Inc.
8.3 Baxter International Inc.
8.4 Cerner Corporation
8.5 Kuka Aktiengesellschaft
8.6 Capsa Healthcare
8.7 Parata Systems LLC
8.8 Scriptpro LLC
8.9 Talyst, LLC
8.10 Arxium, Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures