Pharmacy Automation Market: Key Players, Emerging Startups and FAQs

Since the COVID-19 pandemic, the pharmaceutical industry began to see more reasons to reduce handling errors and boost service delivery. After years of research and development, pharmacy automation was the answer. Pharmacy automation involves the automated processes of distributing, sorting, packaging, and counting prescription medications. It serves various purposes in a pharmacy, like increasing efficiency, lowering labor costs, and enhancing accuracy. Automation helps prevent errors like missing medication or patient information, dispensing formulations, prescription errors, tracking therapy, incorrect labeling and others that can occur during the manual process. This system is crucial for improving healthcare services and patient safety by reducing prescription errors and minimizing issues with storage, inventory, and retrieval.

Here we'll explore key market players and trends in pharmacy automation, along with emerging startups and frequently asked questions in the field.

Market Growth and Key Drivers:

The global pharmacy automation market is experiencing substantial growth, driven by increasing prescription volumes, a rising demand for automated packaging and labeling solutions, and a continuous need to minimize medication errors. According to BCC Research, the market size is expected to grow from $7.8 billion in 2023 to $12.7 billion by 2028, representing a compound annual growth rate (CAGR) of 10.2% during the forecast period.

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Major Players – Pharmacy Automation Industry:

Becton, Dickinson and Company (1897): A medical technology company provides pharmacy automation solutions for storage, dispensing, compounding, packaging, labeling, and data management. In June 2022, BD and Frazier Healthcare Partners acquired Parata Systems for $1.525 billion. Parata offers robotic dispensers, workflow solutions, inventory management software, and packaging tools.
Baxter (1931): A US-based MedTech company offering automated pharmacy dispensing systems for hospitals. They help pharmacies automate processes like routing prescriptions, inspecting medications, and tracking IV and oral liquid doses. Baxter also provides ready-to-use IV formulations, vials, ampules, tablets, bottles, and transdermal systems, all barcoded for bedside scanning to ensure patient safety. Its products and services are available in over 100 countries, with manufacturing facilities in 27 countries.
KUKA AG (1998): A German automation company supplies intelligent automation solutions across industries, including consumer goods, food and drink, clothing, and pharmacies. In the pharmaceutical industry, robots automate tasks like drug packaging, product loading, and box stacking. KUKA Robotics operates in over 100 locations across more than 50 countries, including the United States, Canada, Brazil, China, and India.
Manrex Limited (1973): A Canadian company focuses on medication error prevention products and systems. It provides medication compliance and blister packaging systems, medication carts, pharmacy automation and pill crushers. Its products include compliance cards, blisters and Powdercrush. The company operates in Canada, France, China, Hong Kong, the U.S., the Netherlands, the U.K., Ireland, and Portugal.
ScriptPro LLC (1994): A pharmacy automation company that offers robotics, workflow, and telepharmacy systems. Their software solutions support pharmacy operations and financial management, emphasizing cost-effectiveness, dependability, and space efficiency. ScriptPro's products are used in thousands of pharmacies worldwide, including in the U.S., Canada, and other countries.
Capsa Healthcare (1968): A global leader in pharmacy automation with 60 years of experience in health IT and medication management. Capsa offers systems like scripClip™, RoboPharma, Kirby Lester, and NexsysADC for inventory management, prescription filling, and more. These systems prevent errors such as incorrect drug, strength, or quantity. Capsa operates in the U.S., Canada, Mexico, and the Netherlands and partners with distributors in over 70 countries.
ARxIUM (2015): designs and develops automated services for hospital pharmacies. offering medication packagers, vial fillers, dispensing, robotic IV automation systems and high-volume systems. They also provide inventory management, scheduling and workflow software, professional consulting, and system implementation assistance. Their OptiFill solution processes over 200 million prescriptions annually.
Asteres (2003): A prescription and pharmacy automation technology group that develops kiosks, lockers, and barcode scanning technology for 24/7 automated pharmacy pickup. It holds 24 patents and was the first company to commercialize a system for storing and delivering prescriptions in retail pharmacies.
Parata Systems (2001): A company that provides pharmacy automation solutions for health system, retail pharmacies, long-term care, Department of Defense, nutraceutical companies, and central filling pharmacies. Its products include vial-filling, pouch packaging, medication adherence packaging, and inventory management. In June 2022, Becton, Dickinson and Company (BD) acquired Parata Systems for $1.525 billion to enter the pharmacy automation market.

Conclusion

Pharmacy automation is crucial for improving efficiency, reducing errors, and enhancing patient safety in the pharmaceutical industry. Since COVID-19, the focus on automation has grown to streamline medication distribution and minimize mistakes. The market is rapidly expanding due to increased prescription volumes and precise medication management needs. Major companies like BD, Baxter, and KUKA AG, along with startups, are driving this growth. As the market grows, automation will play a key role in the future of healthcare services.

Frequently Asked Questions (FAQ):

What is a pharmacy automation system?

A pharmacy automation system is an electronic process that automates tasks like distributing, sorting, packaging, and counting prescription medications.

Why is pharmacy automation important?

Pharmacy automation is important as it increases efficiency, minimizes errors, reduces labor costs, and ensures patients receive the correct medications in a safe and timely manner.

What is the size of the global pharmacy automation market?

The global market size is projected to grow from $7.8 billion in 2023 to $12.7 billion by 2028.

Which region holds the biggest share in Global Pharmacy Automation Market?

The United States holds the largest share of the global pharmacy automation market, accounting for 59.8%.

Which region is the fastest growing in the global pharmacy automation market?

Asia-Pacific is expected to be the fastest-growing region in the forecast period (2023-2028).

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