Pharmacy Automation Market to See 8.6% Annual Growth Through 2024

Industry Boosted by Aging Population and Improved Drug Therapy

Pharmacy Automation Market

Aging population, improved drug therapy and increasing disease incidence are several factors driving growth in the global pharmacy automation market, according to a report by BCC Research, “Pharmacy Automation: Technologies and Global Markets.”

The market expects to see a compound annual growth rate (CAGR) of 8.6% through 2024, when it could be worth $7.8 billion.

Major players in the market include: Baxter International Inc., Becton, Dickinson & Co., Omnicell Inc. and Scriptpro LLC.

Research Highlights

  • For 2019, the market share for automated dispensing systems is expected to increase slightly from 49% in 2018 to about 50.1%
  • The inpatient pharmacy automation market should grow from $3.8 billion in 2019 to reach $5.7 billion by 2024 at a CAGR of 8.5% through 2024.
  • The outpatient pharmacy automation market should grow from $1.4 billion in 2019 to reach $2.1 billion by 2024 at a CAGR of 8.8% through 2019-2024.

Read the full report here: https://www.bccresearch.com/market-research/instrumentation-and-sensors/pharmacy-automation-tech-markets-report.html

“All market segments of the automation market are expected to show steady, moderate growth ranging between 7% and 15% annually,” writes analyst Melissa Elder. “Sales for all-in-one systems will be a contributor to growth for the market—combining narcotics management with non-narcotics dispensing. Capital equipment purchases increased in the inpatient segment during 2017 and 2018 and are expected to continue to show steady demand.”

The Need for Safer Systems

There is a recognized need in the medical community, the report adds, for an integrated medication management system capable of running multiple safety checks during the filling of medication and its delivery to patients. These types of systems ensure that the exact medication ordered is delivered to the patient in the correct dosage, administered at the correct time and based on the most up-to-date doctor’s orders.

Editors/reporters requesting analyst interviews should contact Sarah Greenberg at press@bccresearch.com.

Source: BCC Research


Categories: Pharmaceuticals and Biotech

Tags: Automation, Automation Market, Market, pharma, Pharma Automation, Pharmacy, Pharmacy Automation, Pharmacy Automation Market, Pharmacy Market


Related Video

About BCC Research

View Website

BCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports. Our experienced industry analysts' goal is to help you make informed business decisions, free of noise and hype.

Sarah Greenberg
Senior Content Strategist, BCC Research
BCC Research
49 Walnut Park (Building 2)
Wellesley, MA 02481
United States