Pharmacy automations play an important part in modern healthcare since they facilitate medicine administration and delivery in hospital and retail pharmacies. Medication errors can be reduced with pharmacy automation. The need to reduce medication errors and the creation of automated systems with improved features will likely fuel the expansion of the pharmacy automation market. In today's contemporary healthcare system, pharmacy automation is crucial since it lessens errors that could arise during manual operations, like missing drug information, missing patient information, dispensing the formulation, prescription error, therapy monitoring, and others. Inaccurate label information and instructions are among the most common types of errors. Additionally, the development of automated systems with improved pharmacy automation systems leads to a higher success rate and newer applications of the device as well as a higher demand for cutting-edge products to compound, dispense, store, and label prescription medications. These factors are what will drive the growth of the pharmacy automations market over the course of the forecast period.
However, it is anticipated that obstacles like reluctance to implement pharmacy automation systems due to the high cost of pharmacy automation systems will obstruct acceptance, stifling market growth.
Over the forecast period (2018-2026), the worldwide Pharmacy Automation Market is expected to grow at an 8.1% CAGR.
Leading Companies in the Pharmacy Automation Industry:
1. Becton, Dickinson and Company
Becton, Dickinson and Company was established in 1897 and is headquartered in New Jersey, United States. It has a presence in over 190 countries. Becton, Dickinson and Company (BD), a preeminent provider of medical technology worldwide, and Frazier Healthcare Partners, a premier private equity firm that specializes in the healthcare industry, today announced that BD will pay $1.525 billion in June 2022 to acquire Parata Systems, a cutting-edge supplier of pharmacy automation solutions.
2. McKesson Corporation
McKesson Corporation is a pharmaceutical distributor in the US that furthermore provides care management systems, medical supplies, and health information technology. Its headquarters are in Texas, USA, and it was founded in 1833. Australia, Ireland, France, the Netherlands, and the United Kingdom all have overseas offices. In Jeffersonville, Ohio, halfway between Cincinnati and Columbus, McKesson Corporation will debut a brand-new, cutting-edge pharmacy distribution facility in October 2022. Consumer packaged goods (CPG), pharmaceuticals, over-the-counter (OTC), and home healthcare (HHC) products will be distributed from the new plant to customers in Ohio, Indiana, Kentucky, Michigan, Pennsylvania, and West Virginia.
3. Yuyama Co., Ltd.
Yuyama Co., Ltd. is a pharmaceutical automation company, was founded in 1964 and headquartered in Osaka Prefecture, Japan. It operates in more than 24 countries.
4. Omnicell, Inc.
Omnicell, Inc. is an American multinational healthcare technology company, was founded in 1992 and headquartered in California, U.S. It operates in North America, the United Kingdom, Germany, and Australia. Through its India subsidiary in Bangalore, India, Omnicell, Inc., a significant supplier of prescription management solutions and adherence tools for healthcare organizations and pharmacies, announced the opening of a new software development facility in September 2021. In order to advance the company's goal of delivering cloud-based infrastructure to enable the Autonomous Pharmacy, Omnicell's new center will focus on product innovation.
5. ScriptPro LLC
ScriptPro LLC was founded in 1994 and headquartered in United States. It operates in U.S., Canada, and many other countries.
6. Cerner Corporation
Cerner Corporation was formed in 1979 and is headquartered in Missouri, United States. It operates on a global scale. In August 2019, Cerner Corporation announced the creation of the Cerner Learning Health NetworkSM to help doctors get healthcare information and provide care more simply and effectively. In order to give medical researchers the vital data they need as soon as possible, Cerner aims to automate data collection from a variety of sources, including the electronic health record (EHR). This information has the potential to completely transform patient care.
7. Capsa Healthcare
Capsa Healthcare was founded in 1968 and headquartered in Oregon, United States. It operates in more than 70 countries. In February 2022, the Pharmacy Automation division of Capsa Healthcare will release scripClipTM, a special software/hardware solution to streamline will call pharmacies. scripClip was developed by Omaha, Nebraska-based pharmacist INTERlink AI.
8. Baxter International, Inc.
Baxter International, Inc. is a multi-national American healthcare corporation with its main offices in Deerfield, Illinois. It was established in 1931. It is active in more than 100 nations. ExactaMix Pro Automated Compounder will debut in December 2022, according to Baxter International Inc., a global leader in nutrition therapy, with customers in the US expected to get it in early 2023.
9. KUKA AG
KUKA AG was founded in 1898 and headquartered in Bavaria, Germany. It operates in more than 30 countries.
10. TCGRx Pharmacy Workflow Solutions
TCGRx Pharmacy Workflow Solutions was founded in 2006 and headquartered in WI, United States. It operates in many countries.
*Definition: Pharmacy automation is the electronic distribution, classification, packaging, and counting of prescription medications. Numerous benefits of pharmacy automation include improved accuracy, reduced labor costs, and increased productivity.
