U.S. Pharmacy Automation Devices Market Size, Forecast 2033

According to latest report, the U.S. pharmacy automation devices market size was exhibited at USD 3.10 billion in 2023 and is projected to hit around USD 7.61 billion by 2033, growing at a CAGR of 9.4% during the forecast period 2024 to 2033.

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Increasing burden of chronic diseases and growing geriatric population are leading to a surge in the number of prescriptions. This in turn is resulting in a rise in the number of medication errors. It has been stated that medical errors result in the death of approximately 251,454 individuals annually in U.S. hospitals, ranking it as the country’s third most common cause of death. Data on patient safety from 2022 shows a significant 256,679 serious incidents and events, but interestingly, there was a marked reduction in medication errors compared to the year before. This is driving the growth of pharmacy automation devices market. Moreover, increase in initiatives by various organizations such as American Society of Health-System Pharmacists to reduce medication errors is positively impacting the market growth.

The U.S. accounted for over 45.6% of the global pharmacy automation devices market in 2023. The escalating global health issues and the growing reliance on prescription drugs is the reason this. For example, a KFF tracking poll in 2022 revealed that between September and October 2021, approximately 62% of U.S. residents were on prescribed medication. This surge in prescription usage is fuelling the need for automated technology to minimize medication errors and expedite prescription dispensing. Furthermore, pharmacy automation tools aid in preventing product contamination and mistakes, thereby lowering liability risks, and enhancing patient safety. These tools also help in reducing medication waste, which ultimately cuts costs in the long term. For instance, Omnicell Inc. reported that pharmacy automation led to no drug waste and a 90% reduction in pharmacy checks. Therefore, automation allows pharmacists to devote more time to patient care.

Pharmacy automation devices provide advantages such as reduced vulnerability to shortage of medications, decreased medication waste, reduced medication cost per dose, and enhanced patient safety. Moreover, these devices reduce labor costs & medication errors and enhance accuracy & speed. The digital transformation of processes and workflow enhancements are enabling end-users to better control costs and enhance efficiency throughout the care continuum, leading to improved outcomes and performance, and freeing up time to concentrate on patient care. For instance, in March 2022, Walgreens Boots Alliance inaugurated 22 micro-fulfillment centers in the U.S., employing robots to fulfill customer prescriptions, signifying a shift in the roles of stores and pharmacists. A single robot can process 300 prescriptions per hour, equivalent to the daily output of a typical Walgreens pharmacy staffed by several employees. Therefore, the market is expected to grow in the future due to advancements in pharmacy automation technology.

The market was significantly affected by the COVID-19 pandemic, with numerous pharmacy automation device firms experiencing a drop in sales revenue. The pandemic has also revealed weaknesses and obstacles in the pharmacy supply chain, emphasizing the need for advanced automation and intelligence capabilities to efficiently manage medications in the years following COVID-19. A study by the National Community Pharmacists Association (NCPA) in April 2020 found that approximately 90% of community pharmacies sought small business federal aid under the CARES Act to support them during this period.

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U.S. Pharmacy Automation Devices Market By Recent Developments

• In September 2022, Amerisource Bergen Corporation made a strategic move by purchasing PharmaLex Holding GmbH, a company that offers specialized services to the life sciences sector, for a cash deal of USD 1.29 billion. This acquisition not only broadens Amerisource Bergen’s global solutions portfolio but also strengthens its position as a favored collaborator for biopharmaceutical manufacturers. PharmaLex provides a range of services, including regulatory affairs, development consulting, scientific affairs, pharmacovigilance, and quality management and compliance.
• In January 2021, b and Walgreens Boots Alliance entered into a strategic alliance. Amerisource Bergen acquired Alliance Healthcare Business from Walgreens Boots, allowing it to increase its focus on growing its retail pharmacy business. Through this strategic partnership, the two companies planned to extend and expand their commercial agreements.
• In January 2021, Omnicell announced its intent to partner with Guy’s and St Thomas’ NHS Foundation Trust to provide them with inventory optimization and intelligence service solutions.

Some of the prominent players in the U.S. pharmacy automation devices market include:

• Amerisource Bergen Corporation
• Accu-Chart Plus Healthcare Systems, Inc.
• Omnicell, Inc.
• McKesson Corporation
• Pearson Medical Technologies
• Baxter
• Talyst, LLC (Swisslog Healthcare)
• Scriptpro LLC
• Becton Dickinson and Company
• Fulcrum Pharmacy Management, Inc.
• Medacist Solutions Group, LLC
• Aesynt, Inc
• Capsa Healthcare
• Cerner Oracle
• iA
• ARxIUM
• Touchpoint Medical
• Swisslog Healthcare

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Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the U.S. pharmacy automation devices market

Product

• Medication Dispensing Systems

• Robots/Robotic Automated Dispensing Systems,
• Carousels,
• Automated Dispensing Cabinets

• Packaging And Labeling Systems
• Storage And Retrieval Systems
• Automated Medication Compounding Systems
• Tabletop Tablet Counters

End-use

• Retail Pharmacy
• Inpatient Pharmacies
• Outpatient Pharmacies
• Pharmacy Benefit Management Organizations and Mail-Order Pharmacies

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the U.S. Pharmacy Automation Devices Market analysis from 2021 to 2033 to identify the prevailing U.S. Pharmacy Automation Devices Market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the cancer supportive care drugs industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global U.S. Pharmacy Automation Devices Market trends, key players, market segments, application areas, and market growth strategies.

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