North America Pharmacy Automation Devices Market Size & Outlook
North America Pharmacy Automation Devices Market, 2018-2030 (US$M)
Global Market
Related Markets
North America pharmacy automation devices market highlights
- The North America pharmacy automation devices market generated a revenue of USD 3,243.5 million in 2023.
- The market is expected to grow at a CAGR of 9.4% from 2024 to 2030.
- In terms of segment, medication dispensing systems was the largest revenue generating product in 2023.
- Automated Medication Compounding Systems is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 3,243.5 million |
| Market revenue in 2030 | USD 6,074.2 million |
| Growth rate | 9.4% (CAGR from 2023 to 2030) |
| Largest segment | Medication dispensing systems |
| Fastest growing segment | Automated Medication Compounding Systems |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Packaging And Labeling Systems, Storage And Retrieval Systems, Automated Medication Compounding Systems, Tabletop Tablet Counters, Medication Dispensing Systems |
| Key market players worldwide | AmerisourceBergen Drug Corporation, Accu-Chart Plus Healthcare Systems, Omnicell Inc, McKesson Corp, Pearson Medical Technologies, Baxter International Inc, Swisslog, Health Robotics S.R.L, Becton Dickinson & Co, Kirby Lester, Oracle Corp, ARxIUM, Deenova, ScriptPro, Fulcrum Therapeutics, Medacist, IA Medical, TouchPoint Medical |
Other key industry trends
- In terms of revenue, North America region accounted for 54.1% of the global pharmacy automation devices market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,253.6 million by 2030.
Technological advancements in medication management in hospitals and pharmacy are expected to drive the demand for pharmacy automation devices market in North America. For instance, Duke University Hospital in the U.S. has implemented Omnicell’s XT series automated dispensing system in five of their hospitals.
These redesigned cabinets allow for increased capacity and accommodate 30% more medications in the same outline as the old design. Growing concerns over inadequate inventory management may propel growth of high-volume dispensing cabinets in the region as it leads to high cost of holding inventory, which can ultimately put a cost burden on retailers.
Increasing incidence of medication errors is a threat to patient safety, which in turn may drive the demand for pharmacy automation devices market in the region. Handling high-volume inventory can be a tedious and complex process for a pharmacist and medication errors may occur due to ineffective inventory management by pharmacists.
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Pharmacy Automation Devices Market Scope
Pharmacy Automation Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Oracle Corp | View profile | 164,000 | 2300 Oracle Way, Austin, TX, United States, 78741 | www.oracle.com |
| Baxter International Inc | View profile | 60,000 | One Baxter Parkway, Deerfield, IL, United States, 60015 | www.baxter.com |
| Becton Dickinson & Co | View profile | 73,000 | 1 Becton Drive, Franklin Lakes, NJ, United States, 07417-1880 | www.bd.com |
| McKesson Corp | View profile | 51,000 | 6555 State Highway 161, Irving, TX, United States, 75039 | www.mckesson.com |
| Omnicell Inc | View profile | 3,590 | 4220 North Freeway, Fort Worth, Santa Clara, CA, United States, 76137 | www.omnicell.com |
| Swisslog | View profile | 5001-10000 | Buchs, Inner-Rhoden, Switzerland, Europe | swisslog.com |
| AmerisourceBergen Drug Corporation | View profile | 11-50 | Kelayres, Pennsylvania, United States, North America | www.amerisourcebergendrug.com |
| Accu-Chart Plus Healthcare Systems | View profile | 11-50 | Schaumburg, Illinois, United States, North America | accuchart.com |
| Pearson Medical Technologies | View profile | 1-10 | Alexandria, Louisiana, United States, North America | www.pearsonmedical.com/ |
| Health Robotics S.R.L | View profile | - | - | www.health-robotics.com/ |
North America Pharmacy Automation Devices Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Pharmacy Automation Devices Market Outlook will help companies and investors design strategic landscapes.
Medication Dispensing Systems was the largest segment with a revenue share of 23.95% in 2023.
Horizon Databook has segmented the North America pharmacy automation devices market based on packaging and labeling systems, storage and retrieval systems, automated medication compounding systems, tabletop tablet counters, medication dispensing systems covering the revenue growth of each sub-segment from 2018 to 2030.
Technological advancements in medication management in hospitals and pharmacy are expected to drive the demand for pharmacy automation devices market in North America. For instance, Duke University Hospital in the U.S. has implemented Omnicell’s XT series automated dispensing system in five of their hospitals.
These redesigned cabinets allow for increased capacity and accommodate 30% more medications in the same outline as the old design. Growing concerns over inadequate inventory management may propel growth of high-volume dispensing cabinets in the region as it leads to high cost of holding inventory, which can ultimately put a cost burden on retailers.
Increasing incidence of medication errors is a threat to patient safety, which in turn may drive the demand for pharmacy automation devices market in the region. Handling high-volume inventory can be a tedious and complex process for a pharmacist and medication errors may occur due to ineffective inventory management by pharmacists.
- North America Pharmacy Automation Devices Market Product Outlook (Revenue, USD Million , 2018-2030)
- Packaging And Labeling Systems
- Storage And Retrieval Systems
- Automated Medication Compounding Systems
- Tabletop Tablet Counters
- Medication Dispensing Systems
- North America Pharmacy Automation Devices Market End-Use Outlook (Revenue, USD Million , 2018-2030)
- Retail Pharmacy
- Inpatient Pharmacies
- Outpatient Pharmacies
- Pharmacy Benefit Management Organizations and Mail-Order Pharmacies
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North America Pharmacy Automation Devices Market, 2018-2030 (US$M)
North America pharmacy automation devices market statistics, by product, 2018-2030 (US$M)
