South Korea Pharmacy Automation Devices Market Size & Outlook
South Korea Pharmacy Automation Devices Market, 2018-2030 (US$M)
Global Market
Related Markets
South Korea pharmacy automation devices market highlights
- The South Korea pharmacy automation devices market generated a revenue of USD 112.9 million in 2023 and is expected to reach USD 236.6 million by 2030.
- The South Korea market is expected to grow at a CAGR of 11.2% 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.
Pharmacy automation devices market data book summary
| Market revenue in 2023 | USD 112.9 million |
| Market revenue in 2030 | USD 236.6 million |
| Growth rate | 11.2% (CAGR from 2023 to 2030) |
| Largest segment | Medication dispensing systems |
| Fastest growing segment | Automated Medication Compounding Systems |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, South Korea accounted for 1.9% of the global pharmacy automation devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China pharmacy automation devices market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 580.8 million by 2030.
South Korea is registering an upward trend for the pharmacy automation owing to the COVID-19 pandemic and increasing awareness regarding benefits offered by these solutions in improving patient safety, containing costs, minimizing waste & controlling substance diversion, reducing therapy errors, and diminishing the gap between rising patient volume & scarce medical staff.
According to the data published by The Foundation for Innovation and Development of Health Safety (FIDHS) in October 2020, medication errors were the fifth cause of death in Spain and accounted to about 8,000 deaths annually, as per the Spanish Society of Hospital Pharmacy (SEFH).
This, in turn, is driving market growth. Moreover, rise in the number of partnerships, collaborations, and geographical expansions is further anticipated to drive the market in the country.
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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/ |
South Korea 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 23.03% in 2023.
Horizon Databook has segmented the South Korea 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.
South Korea is registering an upward trend for the pharmacy automation owing to the COVID-19 pandemic and increasing awareness regarding benefits offered by these solutions in improving patient safety, containing costs, minimizing waste & controlling substance diversion, reducing therapy errors, and diminishing the gap between rising patient volume & scarce medical staff.
According to the data published by The Foundation for Innovation and Development of Health Safety (FIDHS) in October 2020, medication errors were the fifth cause of death in Spain and accounted to about 8,000 deaths annually, as per the Spanish Society of Hospital Pharmacy (SEFH).
This, in turn, is driving market growth. Moreover, rise in the number of partnerships, collaborations, and geographical expansions is further anticipated to drive the market in the country.
- South Korea 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
- South Korea 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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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea Pharmacy Automation Devices Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into South Korea Pharmacy Automation Devices Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
South Korea Pharmacy Automation Devices Market, 2018-2030 (US$M)
South Korea pharmacy automation devices market statistics, by product, 2018-2030 (US$M)
