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Global Pharmacy Automation Devices Market By Product, By End Use, By Region, Industry Analysis and Forecast, 2020 - 2026

  • ID: 5305604
  • Report
  • February 2021
  • Region: Global
  • 176 pages
  • Marqual IT Solutions Pvt. Ltd (KBV Research)

FEATURED COMPANIES

  • ARxIUM, Inc.
  • Cerner Corporation
  • McKesson Corporation
  • Omnicell, Inc.
  • ScriptPro, LLC
The Global Pharmacy Automation Devices Market size is expected to reach $7.9 billion by 2026, rising at a market growth of 12.5% CAGR during the forecast period. Decreased vulnerability to the storage of medication, low medication cost per dose, reduced medication waste, and improved patient security are some of the advantages provided by pharmacy automation devices. The overall efficiency of these systems can be improved due to the advent of RFID, smart dashboards, barcode scanning technology, and data safety in pharmacies for the smooth workflow. With the help of these devices, medication errors & labor costs can be reduced while accuracy & speed can be improved. Using these products, pharmacists’ time in nonclinical functions can be reduced & these functions include inventory management. Patient experience can be improved as pharmacists spend more time with patients.

The global healthcare industry is facing a lot of burden due to increasing rates of injuries & deaths because of the errors in the medical prescriptions. In order to prevent & reduce these recurrent medical errors, healthcare service vendors & pharmacists are continuously looking for the efficient and advanced technologies. Additionally, as the number of visitors, patients, and their subsequent security requirements is increasing, the medication distribution is becoming more sophisticated on a regular basis. In order to address these critical issues, emerging technologies like pharmacy automation systems are becoming the most effective equipment. Decreasing the errors in medical prescriptions & enhance patient security is the main goal of these tools. Healthcare service vendors and pharmacists can reduce their losses and scale-up effectiveness and productivity by adopting these pharmacy automation systems.

Due to the COVID-19 pandemic, various companies dealing in pharmacy automation devices observed a reduction in sales revenue. On the other hand, the COVID-19 pandemic is anticipated to raise awareness about the significance of automation in the healthcare and pharmaceutical sector, which, as a result, is expected to boost the pharmacy automation market in the next few years.

Product Outlook

Based on Product, the market is segmented into Medication Dispensing Systems, Packaging and Labeling Systems, Storage and Retrieval Systems, Automated Medication Compounding Systems, and Tabletop Tablet Counters. The medication dispensing systems segment obtained the highest revenue share in 2019. The healthcare facilities & pharmacists face tremendous pressure to adapt to different medication dispensing systems in order to enhance patient care services owing to the rising number of deaths occurred by medication & dispensing errors, along with severe government policies.

End Use Outlook

Based on End Use, the market is segmented into Retail Pharmacy and Hospital Pharmacy. The hospital pharmacy segment is expected to showcase the promising growth rate during the forecast period. This growth is owing to the high utilization of automated drug storage & retrieval systems, automated dispensing cabinets, automated sterile compounding systems, barcoded unit dose packaging systems to improve efficiency and productivity.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia-Pacific is expected to exhibit a substantial growth rate during the forecast period. The growth of the regional market is owing to the increasing requirement to reduce medication errors, technological development by key players, decentralization of pharmacies, and the quickly increasing geriatric population. Moreover, the market is anticipated to witness various growth opportunities due to the advancements in healthcare infrastructure in the developing countries.

The major strategies followed by the market participants are Partnerships and Product Launches. Based on the Analysis presented in the Cardinal matrix; McKesson Corporation, Becton, Dickinson and Company, Baxter International, Inc., and Cerner Corporation are the forerunners in the Pharmacy Automation Devices Market. Companies such as Omnicell, Inc., Kuka AG, ARxIUM, Inc., and ScriptPro, LLC are some of the key innovators in the market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include McKesson Corporation, Baxter International, Inc., Becton, Dickinson and Company, ARxIUM, Inc., Omnicell, Inc., Kuka AG (Swisslog Healthcare), Cerner Corporation, Accu-Chart Plus Healthcare Systems, Inc., Pearson Medical Technologies, LLC, and ScriptPro, LLC.

Recent strategies deployed in Pharmacy Automation Devices Market

Partnerships, Collaborations, and Agreements:

Jan-2021: Omnicell extended its partnership with WVU Medicine, the affiliated academic medical system of West Virginia University. This expansion focused on using the medication inventory management platform to enhance pharmacy supply chain management all over the West Virginia-based health network.

Nov-2020: ARxIUM signed a multi-year partnership with the UNC Health Shared Services Center, UNC Hospitals, and Rex Hospital. By executing a line of highly automated, interoperable systems and other workflow solutions, the health system reached improved pharmacy security and operational efficacy.

Aug-2020: Omnicell signed an agreement with Pharmaceutical Strategies Group (PSG) to acquire its 340B Link business. The acquisition added a complete and distinctive portfolio of software-enabled services and solutions utilized by some eligible hospitals, clinics, health systems, and entities to operate compliance and capture 340B drug cost-cutting on outpatient prescriptions filled by the qualified organization's pharmacy or a contracted pharmacy partner.

Jan-2020: Cerner Corporation entered into a collaboration with HealthTap, a leading virtual primary care provider. The collaboration focused on expanding health care experiences beyond on-site and near-site health and pharmacy centers. Cerner's expertise in workforce health services with HealthTap's digital platform supported self-funded employers to provide end-to-end primary care services to their workforces, despite proximity to on-site and near-site health centers.

Oct-2019: Omnicell came into partnership with Med Center Health. Following the partnership, the companies aimed to streamline and safeguard their medication management process. The health system upgraded to Omnicell XT Automated Dispensing Cabinets to assist in enhancing the security and nurse-pharmacy workflows.

Jul-2019: Swisslog Healthcare signed a partnership agreement with Vingmed Group as a Partner for the Nordic Countries. Following the partnership, the companies aimed to strengthen the ability of both companies to help the Nordic healthcare institutions by offering access to improved technologies in pharmacy automation and medication management.

Acquisition and Mergers:

Nov-2020: BD acquired the Medical Business assets of CUBEX LLC, a global provider of health care solutions. Under this acquisition, BD broadened its medication management capabilities into the care continuum space and provides deeper integration with electronic health records (EHRs).

Jul-2017: Baxter acquired Claris Injectables Limited, a global generic injectables pharmaceutical company. In this acquisition, Baxter strengthened its position in the generic pharmaceuticals space and helped in boosting the supply of crucial medicines to Baxter customers. Together, Baxter and Claris Injectables helped in increasing access to lower-cost generic injectables.

Jan-2017: McKesson completed its acquisition of CoverMyMeds, a healthcare software company. Under this acquisition, CoverMyMeds enhanced McKesson's technology capabilities to clinicians, payers, and pharmaceutical manufacturers.

Product Launches and Product Expansions:

Nov-2020: Omnicell introduced the innovation to the industry-leading portfolio of medication management solutions. These innovations were inbuilt to assist hospitals and health systems to extend their medication inventory visibility and supply chain management offerings, providing enhanced clinical, operational, and financial objectives.

Mar-2019: Swisslog Healthcare introduced the InSite InFacility Medication Packaging and Dispensing Service. This service helped long-term care pharmacies to use automation by reducing the risk of investing.

Scope of the Study

Market Segments covered in the Report:

By Product
  • Medication Dispensing Systems
  • Packaging and Labeling Systems
  • Storage and Retrieval Systems
  • Automated Medication Compounding Systems
  • Tabletop Tablet Counters
By End Use
  • Retail Pharmacy
  • Hospital Pharmacy
By Geography
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA
Companies Profiled
  • McKesson Corporation
  • Baxter International, Inc.
  • Becton, Dickinson and Company
  • ARxIUM, Inc.
  • Omnicell, Inc.
  • Kuka AG (Swisslog Healthcare)
  • Cerner Corporation
  • Accu-Chart Plus Healthcare Systems, Inc.
  • Pearson Medical Technologies, LLC
  • ScriptPro, LLC
Unique Offerings from the Publisher
  • Exhaustive coverage
  • Highest number of market tables and figures
  • Subscription based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ARxIUM, Inc.
  • Cerner Corporation
  • McKesson Corporation
  • Omnicell, Inc.
  • ScriptPro, LLC
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Pharmacy Automation Devices Market, by Product
1.4.2 Global Pharmacy Automation Devices Market, by End Use
1.4.3 Global Pharmacy Automation Devices Market, by Geography
1.5 Methodology for the research

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)

Chapter 4. Global Pharmacy Automation Devices Market by Product
4.1.1 Global Medication Dispensing Systems Market by Region
4.1.2 Global Packaging and Labeling Systems Market by Region
4.1.3 Global Storage and Retrieval Systems Market by Region
4.1.4 Global Automated Medication Compounding Systems Market by Region
4.1.5 Global Other Product Market by Region

Chapter 5. Global Pharmacy Automation Devices Market by End Use
5.1 Global Retail Pharmacy Market by Region
5.2 Global Hospital Pharmacy Market by Region

Chapter 6. Global Pharmacy Automation Devices Market by Region
6.1 North America Pharmacy Automation Devices Market
6.1.1 North America Pharmacy Automation Devices Market by Product
6.1.1.1 North America Medication Dispensing Systems Market by Country
6.1.1.2 North America Packaging and Labeling Systems Market by Country
6.1.1.3 North America Storage and Retrieval Systems Market by Country
6.1.1.4 North America Automated Medication Compounding Systems Market by Country
6.1.1.5 North America Other Product Market by Country
6.1.2 North America Pharmacy Automation Devices Market by End Use
6.1.2.1 North America Retail Pharmacy Market by Country
6.1.2.2 North America Hospital Pharmacy Market by Country
6.1.3 North America Pharmacy Automation Devices Market by Country
6.1.3.1 US Pharmacy Automation Devices Market
6.1.3.1.1 US Pharmacy Automation Devices Market by Product
6.1.3.1.2 US Pharmacy Automation Devices Market by End Use
6.1.3.2 Canada Pharmacy Automation Devices Market
6.1.3.2.1 Canada Pharmacy Automation Devices Market by Product
6.1.3.2.2 Canada Pharmacy Automation Devices Market by End Use
6.1.3.3 Mexico Pharmacy Automation Devices Market
6.1.3.3.1 Mexico Pharmacy Automation Devices Market by Product
6.1.3.3.2 Mexico Pharmacy Automation Devices Market by End Use
6.1.3.4 Rest of North America Pharmacy Automation Devices Market
6.1.3.4.1 Rest of North America Pharmacy Automation Devices Market by Product
6.1.3.4.2 Rest of North America Pharmacy Automation Devices Market by End Use
6.2 Europe Pharmacy Automation Devices Market
6.2.1 Europe Pharmacy Automation Devices Market by Product
6.2.1.1 Europe Medication Dispensing Systems Market by Country
6.2.1.2 Europe Packaging and Labeling Systems Market by Country
6.2.1.3 Europe Storage and Retrieval Systems Market by Country
6.2.1.4 Europe Automated Medication Compounding Systems Market by Country
6.2.1.5 Europe Other Product Market by Country
6.2.2 Europe Pharmacy Automation Devices Market by End Use
6.2.2.1 Europe Retail Pharmacy Market by Country
6.2.2.2 Europe Hospital Pharmacy Market by Country
6.2.3 Europe Pharmacy Automation Devices Market by Country
6.2.3.1 Germany Pharmacy Automation Devices Market
6.2.3.1.1 Germany Pharmacy Automation Devices Market by Product
6.2.3.1.2 Germany Pharmacy Automation Devices Market by End Use
6.2.3.2 UK Pharmacy Automation Devices Market
6.2.3.2.1 UK Pharmacy Automation Devices Market by Product
6.2.3.2.2 UK Pharmacy Automation Devices Market by End Use
6.2.3.3 France Pharmacy Automation Devices Market
6.2.3.3.1 France Pharmacy Automation Devices Market by Product
6.2.3.3.2 France Pharmacy Automation Devices Market by End Use
6.2.3.4 Russia Pharmacy Automation Devices Market
6.2.3.4.1 Russia Pharmacy Automation Devices Market by Product
6.2.3.4.2 Russia Pharmacy Automation Devices Market by End Use
6.2.3.5 Spain Pharmacy Automation Devices Market
6.2.3.5.1 Spain Pharmacy Automation Devices Market by Product
6.2.3.5.2 Spain Pharmacy Automation Devices Market by End Use
6.2.3.6 Italy Pharmacy Automation Devices Market
6.2.3.6.1 Italy Pharmacy Automation Devices Market by Product
6.2.3.6.2 Italy Pharmacy Automation Devices Market by End Use
6.2.3.7 Rest of Europe Pharmacy Automation Devices Market
6.2.3.7.1 Rest of Europe Pharmacy Automation Devices Market by Product
6.2.3.7.2 Rest of Europe Pharmacy Automation Devices Market by End Use
6.3 Asia Pacific Pharmacy Automation Devices Market
6.3.1 Asia Pacific Pharmacy Automation Devices Market by Product
6.3.1.1 Asia Pacific Medication Dispensing Systems Market by Country
6.3.1.2 Asia Pacific Packaging and Labeling Systems Market by Country
6.3.1.3 Asia Pacific Storage and Retrieval Systems Market by Country
6.3.1.4 Asia Pacific Automated Medication Compounding Systems Market by Country
6.3.1.5 Asia Pacific Other Product Market by Country
6.3.2 Asia Pacific Pharmacy Automation Devices Market by End Use
6.3.2.1 Asia Pacific Retail Pharmacy Market by Country
6.3.2.2 Asia Pacific Hospital Pharmacy Market by Country
6.3.3 Asia Pacific Pharmacy Automation Devices Market by Country
6.3.3.1 China Pharmacy Automation Devices Market
6.3.3.1.1 China Pharmacy Automation Devices Market by Product
6.3.3.1.2 China Pharmacy Automation Devices Market by End Use
6.3.3.2 Japan Pharmacy Automation Devices Market
6.3.3.2.1 Japan Pharmacy Automation Devices Market by Product
6.3.3.2.2 Japan Pharmacy Automation Devices Market by End Use
6.3.3.3 India Pharmacy Automation Devices Market
6.3.3.3.1 India Pharmacy Automation Devices Market by Product
6.3.3.3.2 India Pharmacy Automation Devices Market by End Use
6.3.3.4 South Korea Pharmacy Automation Devices Market
6.3.3.4.1 South Korea Pharmacy Automation Devices Market by Product
6.3.3.4.2 South Korea Pharmacy Automation Devices Market by End Use
6.3.3.5 Singapore Pharmacy Automation Devices Market
6.3.3.5.1 Singapore Pharmacy Automation Devices Market by Product
6.3.3.5.2 Singapore Pharmacy Automation Devices Market by End Use
6.3.3.6 Malaysia Pharmacy Automation Devices Market
6.3.3.6.1 Malaysia Pharmacy Automation Devices Market by Product
6.3.3.6.2 Malaysia Pharmacy Automation Devices Market by End Use
6.3.3.7 Rest of Asia Pacific Pharmacy Automation Devices Market
6.3.3.7.1 Rest of Asia Pacific Pharmacy Automation Devices Market by Product
6.3.3.7.2 Rest of Asia Pacific Pharmacy Automation Devices Market by End Use
6.4 LAMEA Pharmacy Automation Devices Market
6.4.1 LAMEA Pharmacy Automation Devices Market by Product
6.4.1.1 LAMEA Medication Dispensing Systems Market by Country
6.4.1.2 LAMEA Packaging and Labeling Systems Market by Country
6.4.1.3 LAMEA Storage and Retrieval Systems Market by Country
6.4.1.4 LAMEA Automated Medication Compounding Systems Market by Country
6.4.1.5 LAMEA Other Product Market by Country
6.4.2 LAMEA Pharmacy Automation Devices Market by End Use
6.4.2.1 LAMEA Retail Pharmacy Market by Country
6.4.2.2 LAMEA Hospital Pharmacy Market by Country
6.4.2.3 LAMEA Pharmacy Automation Devices Market by Country
6.4.2.4 Brazil Pharmacy Automation Devices Market
6.4.2.4.1 Brazil Pharmacy Automation Devices Market by Product
6.4.2.4.2 Brazil Pharmacy Automation Devices Market by End Use
6.4.2.5 Argentina Pharmacy Automation Devices Market
6.4.2.5.1 Argentina Pharmacy Automation Devices Market by Product
6.4.2.5.2 Argentina Pharmacy Automation Devices Market by End Use
6.4.2.6 UAE Pharmacy Automation Devices Market
6.4.2.6.1 UAE Pharmacy Automation Devices Market by Product
6.4.2.6.2 UAE Pharmacy Automation Devices Market by End Use
6.4.2.7 Saudi Arabia Pharmacy Automation Devices Market
6.4.2.7.1 Saudi Arabia Pharmacy Automation Devices Market by Product
6.4.2.7.2 Saudi Arabia Pharmacy Automation Devices Market by End Use
6.4.2.8 South Africa Pharmacy Automation Devices Market
6.4.2.8.1 South Africa Pharmacy Automation Devices Market by Product
6.4.2.8.2 South Africa Pharmacy Automation Devices Market by End Use
6.4.2.9 Nigeria Pharmacy Automation Devices Market
6.4.2.9.1 Nigeria Pharmacy Automation Devices Market by Product
6.4.2.9.2 Nigeria Pharmacy Automation Devices Market by End Use
6.4.2.10 Rest of LAMEA Pharmacy Automation Devices Market
6.4.2.10.1 Rest of LAMEA Pharmacy Automation Devices Market by Product
6.4.2.10.2 Rest of LAMEA Pharmacy Automation Devices Market by End Use

Chapter 7. Company Profiles
7.1 McKesson Corporation
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expense
7.1.5 Recent strategies and developments:
7.1.5.1 Acquisition and Mergers:
7.1.5.2 Product Launches and Product Expansions:
7.2 Baxter International, Inc.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Regional Analysis
7.2.4 Research & Development Expense
7.2.1 Recent strategies and developments:
7.2.1.1 Acquisition and Mergers:
7.3 Becton, Dickinson and Company
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.3.5 Recent strategies and developments:
7.3.5.1 Acquisition and Mergers:
7.4 ARxIUM, Inc.
7.4.1 Company Overview
7.4.2 Recent strategies and developments:
7.4.2.1 Partnerships, Collaborations, and Agreements:
7.4.2.2 Product Launches and Product Expansions:
7.5 Omnicell, Inc.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Regional Analysis
7.5.4 Research & Development Expenses
7.5.5 Recent strategies and developments:
7.5.5.1 Partnerships, Collaborations, and Agreements:
7.5.5.2 Acquisition and Mergers:
7.5.5.3 Product Launches and Product Expansions:
7.6 Kuka AG (Swisslog Healthcare)
7.6.1 Company Overview
7.6.2 Recent strategies and developments:
7.6.2.1 Partnerships, Collaborations, and Agreements:
7.6.2.2 Product Launches and Product Expansions:
7.6.2.3 Acquisition and Mergers:
7.7 Cerner Corporation
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Regional Analysis
7.7.4 Research & Development Expense
7.7.5 Recent strategies and developments:
7.7.5.1 Partnerships, Collaborations, and Agreements:
7.8 Accu-Chart Plus Healthcare Systems, Inc.
7.8.1 Company Overview
7.9 Pearson Medical Technologies, LLC
7.9.1 Company Overview
7.10. ScriptPro, LLC
7.10.1 Company Overview
7.10.2 Recent strategies and developments:
7.10.2.1 Partnerships, Collaborations, and Agreements:
Note: Product cover images may vary from those shown
  • McKesson Corporation
  • Baxter International, Inc.
  • Becton, Dickinson and Company
  • ARxIUM, Inc.
  • Omnicell, Inc.
  • Kuka AG (Swisslog Healthcare)
  • Cerner Corporation
  • Accu-Chart Plus Healthcare Systems, Inc.
  • Pearson Medical Technologies, LLC
  • ScriptPro, LLC
Note: Product cover images may vary from those shown

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