CHICAGO† June 23, 2022 /PRNewswire/ — According to the new market research report †Asia-Pacific Pharmacy Automation Market by product (automated medication dispensing and storage systems, automated table counters, medication composition), end user (inpatient pharmacies, outpatient pharmacies, retail pharmacies) – forecast to 2027″, published by MarketsandMarkets™, APAC pharmacy automation market is expected to reach USD 725 million by 2027 from USD 453 million in 2022, growing at a CAGR of 9.8% over the forecast period.
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The growth in the market is primarily driven by the growing need to minimize medication errors, the rapid decentralization of pharmacies and the rising geriatric population leading to greater adoption of automated dispensing systems.
Automated medication dispensing and storage segment accounted for the largest share in 2021
Based on products, the pharmacy automation market is segmented into automated medication dispensing and storage systems, automated packaging and labeling systems, automated table counters, automated medication preparation systems, and other pharmacy automation systems. In 2021, the automated medication delivery and storage systems segment accounted for the majority of this market, primarily due to the growing need to manage increasing workloads and reduce medication errors.
The retail pharmacies segment accounted for the majority of the pharmacy automation market
Based on end users, the pharmacy automation market is segmented into inpatient pharmacies, outpatient pharmacies, retail pharmacies, and pharmacy benefit management organizations and mail order pharmacies. In 2021, intramural pharmacies had the largest share of this market. This is due to the increasing use of pharmacy automation systems for dispensing and storage, such as automated dispensing cabinets, in hospital care facilities.
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Australia has the largest share of the pharmacy automation market
Australia accounted for most of the Asia-Pacific pharmacy automation market in 2021. Factors such as growth in healthcare spending and advanced medical infrastructure are contributing to the growth of the Australian pharmacy automation market.
The prominent players in the Asia-Pacific market for pharmacy automation are Becton, Dickinson and Company (BD) (USA), Yuyama Co., Ltd/Yuyama Mfg Co., Ltd (Japan), Omnicell, Inc. (US), KUKA AG (Swiss healthcare) (Germany), TOSHO Co., Inc. †Japan), Cerner Corporation (US), TouchPoint Medical Solutions (US), Takazono Corporation (Japan), Capsa Healthcare (USA) and ARxIUM, Inc. (USA).
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