Pharmacy Automation Market Size & Share 2023 to 2032
Market Size by Component (Product {Medical Dispensing & Storage Systems, Packaging & Labelling Systems}, Software, Services), End User (In-patient Pharmacies, Out-patient Pharmacies), Global Forecast.
Report ID: GMI7439
|
Published Date: November 2023
|
Report Format: PDF
Download Free PDF
Authors:
Monali Tayade, Jignesh Rawal
Pharmacy Automation Market Size
Pharmacy Automation Market size was around USD 6.4 billion in 2022 and is anticipated to grow at 7.9% CAGR from 2023 to 2032. Pharmacy automation devices play a crucial role in averting product contamination and errors, thereby reducing liability risks and enhancing patient safety Also, the surge in global disease rate and the growing dependence on prescription drugs contribute to market expansion.
Pharmacy Automation Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
Similarly, in 2022, KFF's tracking poll revealed that 62% of Americans were using prescription medications between September and October 2021. This increased prescription pattern is fuelling the demand for automation technology to mitigate medication errors and expedite prescription dispensing.
Pharmacy automation refers to the use of technology and machinery to streamline and enhance various processes within a pharmacy, including medication dispensing, inventory management, and prescription filling. These systems aim to reduce errors, improve efficiency, and ensure patient safety. Also, this integration of technology in pharmaceutical settings especially in pharmaceutical packaging will optimize workflow, minimizes human intervention, and ultimately contributes to the accurate and timely delivery of medications to patients.
Pharmacy Automation Market Trends
Pharmacy Automation Market Analysis
Based on component, the market is segmented into products, services, and software. The product segment held the largest business share at 67.6% in 2022. This dominance is propelled by the surge in adoption for medication dispensing and storage systems.
Based on end-user, the pharmacy automation market is classified into in-patient pharmacies, out-patient pharmacies, and retail pharmacies. The retail pharmacies segment is projected to exhibit CAGR of 7.3% during the analysis period.
In 2022, North America held a significant share of 48.6% in the pharmacy automation market.
Pharmacy Automation Market Share
The pharmacy automation industry is characterized by diverse players competing in the medical automation industry. Intense competition fosters ongoing technological advancements, driving the evolution of automated dispensing systems, robotic pharmacy solutions, and software platforms. With the persistent focus on enhancing efficiency and patient safety, the pharmacy automation sector remains fiercely competitive, fostering innovation and industry growth.
Pharmacy Automation Market Companies
The prominent market players operating in the pharmacy automation industry is as mentioned below:
Pharmacy Automation Industry News
The pharmacy automation market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:
Click here to Buy Section of this Report
By Component, 2018 – 2032 (USD Million)
By End-user, 2018 – 2032 (USD Million)
The above information is provided for the following regions and countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →