United States Pharmacy Automation Devices Market By Product Type (Medication Dispensing Systems, Packaging & Labeling Systems, Storage & Retrieval Systems, Automated Medication Compounding Systems, Tabletop Tablet Counters), By End Use (Hospital Pharmacy v/s Retail Pharmacy), By Region, Competition Forecast & Opportunities, 2027

United States pharmacy automation devices market is anticipated to show a robust growth in the upcoming five years, 2023-2027. The market growth can be attributed to advancing healthcare sector in the industry along with the advantages such as reduced vulnerability to the shortage of medications, decreased medication waste, reduced medication cost per dose, and enhanced patient safety. Moreover, the requirement of minimizing medication errors, rapid decentralization of pharmacies, rising geriatric population and rising labor cost are projected growth drivers for the United States pharmacy automation devices market in the upcoming five years.

Healthcare industry often faces extreme 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 that can support industry, pharmacy automation devices are some of the technological advancements that can help with the struggles of the healthcare sector in the country thereby supporting the growth of the market. Although, reluctance of the adoption of the advanced technology like pharmacy automation devices may put restrain over the market in the upcoming five years. Advertisements and awareness among the end users would help the new market players and the major market players to establish their market in the future years.

The United States pharmacy automation devices market is segmented on the basis of product type, end user, regional distribution, and competitional landscape. Based on end user, the market is further bifurcated into hospital pharmacy and retail pharmacy. Retail pharmacy is anticipated to put up the largest demand anticipated in the next five years and assert its dominance as the leading end user in the market segment on the account of increasing applications of these solutions in prescription filling, cutting down costs and errors, inventory tracking, and streamlining operations.

This aspect can be explained with an example of automated robotic storage and retrieval systems that is offered by RxSafe enable retail pharmacies to experience speed, space savings, accuracy, and convenience delivered by the combination of real-time inventory tracking, prescription dispensing, and workflow optimization solutions. These advance technologies are supporting the advancing healthcare system of the country.

A partial list of market player in the United States pharmacy automation devices market includes, Baxter International, Inc., Becton, Dickinson and Company, Cerner Corporation, Omnicell, Inc., Capsa Healthcare, LLC, ScriptPro LLC, RxSafe, LLC, McKesson Corporation, Amerisource Bergen Corporation, Parata Systems, LLC, among others. These market players hold larger shares of the market than the new market players.

With the advancement of the technology, it is appropriate to say that the effective research and development of the technologically advanced medical devices would support the market growth and benefit the market players as well as the consumers. New market players may focus on the research and development to provide devices that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.

Objective of the Study:

• To analyze the historical growth in the market size of United States pharmacy automation devices market from 2017 to 2021.
• To estimate and forecast the market size of United States pharmacy automation devices market from 2022 to 2027 and growth rate until 2027. 
• To classify and forecast United States pharmacy automation devices market based on product type, end user, competitional landscape, and regional distribution.
• To identify dominant region or segment in the United States pharmacy automation devices market.
• To identify drivers and challenges for United States pharmacy automation devices market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in United States pharmacy automation devices market.
• To identify and analyze the profile of leading players operating in United States pharmacy automation devices market.
• To identify key sustainable strategies adopted by market players in United States pharmacy automation devices market.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers, suppliers, and service providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufactures which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufactures, distribution channels and presence of all major players across the country.

TechSci Research calculated the market size of United States pharmacy automation devices market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

• Pharmacy Automation Devices manufacturers, end users, and other stakeholders
• Distributers and suppliers of the products and other stakeholders
• Organizations, forums, and alliances related to pharmacy automation devices
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, United States pharmacy automation devices market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• United States Pharmacy Automation Devices Market, By Product Type:
• Medication Dispensing Systems
• Packaging & Labeling Systems
• Storage & Retrieval Systems
• Automated Medication Compounding Systems
• Tabletop Tablet Counters
• United States Pharmacy Automation Devices Market, By End User:
• Hospital Pharmacy
• Retail Pharmacy
• United States Pharmacy Automation Devices Market, By Region:
• South West
• Mid-West
• North East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in United States pharmacy automation devices market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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