by A new comprehensive study has been released, aiming to shed light on the multifaceted landscape of the global pharmaceutical automation market. The study delves into the short-term growth prospects of this market, offering valuable insights into its future trajectory.
Rising Preference for Pharmacy Automation
The future of pharmacy automation is set to revolve around two pivotal models: medication dispensing and care management. The focus in medication dispensing is shifting towards reducing human involvement to provide quicker, more accurate, and efficient solutions. The second model aims at improving patient care management by reducing unnecessary visits to clinicians and fostering a feedback system within pharmacies. The array of pharmacy automation tools includes websites, dispensing robots, digital displays, prescription reordering apps, and more. According to a study by the Association for Packaging and Processing Technologies (PMMI), robots are expected to handle 36 percent of primary pharmaceutical packaging operations in North America by 2020, particularly in dispensing, sorting, kit assembly, and light machine-tending. The advantages include enhanced speed, accuracy, flexibility, and reliability.
Critical Aspects of Pharmaceutical Automation
Several critical aspects of pharmaceutical automation are propelling market growth:
- Filling, Inspection, and Packaging: Manufacturers must ensure precise packing of medications with the correct chemical composition and weight into the appropriate containers.
- Personalized Medicines: The industry is moving closer to providing precise, predictable healthcare tailored to individual patients, departing from the one-size-fits-all approach.
- Robotics in the Laboratory: Automation is streamlining drug development processes, from drug screening to anti-counterfeiting measures and manufacturing tasks.
Surging Popularity of Automated Medication Dispensing
The demand for automated medication dispensing systems has skyrocketed due to their role in eliminating drug errors, reducing turnaround times, and enhancing patient safety. This demand surged during the pandemic as pharmaceutical errors came under scrutiny. Over 100,000 suspected pharmaceutical mistake incidents are reported annually in the US, leading to more than 250,000 fatalities each year, as per research by Johns Hopkins University. Automated dispensing systems strike a balance between safety, usability, inventory management, and medication control, making them increasingly preferred in healthcare facilities and pharmacies.
Rapid Expansion of Retail Pharmacies
Retail pharmacies are expected to be the fastest-growing segment in the pharmaceutical automation market. Their adoption of automation solutions for prescription filling, cost reduction, error reduction, inventory tracking, and streamlined operations is on the rise. Innovations in pharmacy automation systems promise clearer, more accurate, and safer use for improved healthcare outcomes.
North Americas Resilient Pharmaceutical Automation Market
North Americas pharmaceutical automation market remains robust due to the increasing incidence of chronic diseases and the growing number of patients. The demand for medication and pharmaceuticals has risen, particularly during the COVID-19 outbreak, leading to an increased need for systems that prevent cross-contamination and errors. Automation technology, such as the Max 2 vial-filling robot, has contributed to the regional markets expansion. Technological advancements in drug administration in hospitals and pharmacies are further driving growth.
High-Potential Growth in Developing Economies
Emerging economies are expected to witness the most rapid growth in the pharmaceutical automation market. The aging population in these regions, especially in Eastern and Southeastern Asia, is increasing the demand for high-quality patient care and efficient pharmaceutical delivery. Consequently, pharmacy automation systems are expected to experience growing demand in Asian nations.
Key Players in the Pharmaceutical Automation Market
Key players in the pharmaceutical automation market include Capsa Healthcare, Omnicell, Inc. (Swisslog Healthcare), Baxter International Inc., Parata Systems, LLC, McKesson Corporation, Cerner Corporation, Yuyama Co., Ltd., TouchPoint Medical Solutions, Innovation Associates, Staubli International, Pharmacy Automation System, and Deenova SRL, among others.
The global pharmaceutical automation market is poised for significant growth, driven by technological advancements, increased demand for personalized medicine, and the pressing need for automation in healthcare facilities and pharmacies.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/pharmaceutical-automation-market
Visit Our Blogs:
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
Contact
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
Web: https://www.fairfieldmarketresearch.com/
Email: sales@fairfieldmarketresearch.com
This press release first seen on Brilad
COMTEX_442320020/2840/2023-10-23T08:21:11
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.