U.S. Pharmacy Automation Devices Market Size, Share & Industry Analysis, By Product (Automated Medication Dispensing Systems [Robotic Dispensing Systems and Automated Dispensing Cabinets], Automated Packaging Systems, and Others), By Distribution Model (Centralized, and Decentralized), By End-user (Hospitals Pharmacies, Retail Pharmacies, and Others), and Country Forecast, 2024-2032

The U.S. pharmacy automation devices market size was worth USD 1.40 billon in 2023 and is projected to grow at a CAGR of 8% during the forecast period.

Pharmacy automation devices are systems primarily used in hospitals and pharmacies to store and dispense medications for improved medication safety, better inventory management, and increased drug storage capacity. The adoption of these systems reduces medication dispensing errors and boosts prescription volume and efficiency among patients. The growing concerns about medication dispensing errors among patients and the rising demand for advanced systems for drug prescription filling across retail and hospital pharmacies propel the market growth in the country.

• As per Cross River Therapy statistics published in September 2023, the U.S. Food and Drug Administration receives over 100,000 reports of medication errors each year.

The increasing demand for these devices, coupled with the rising introduction of technologically advanced systems by key industry players, will further augment the pharmacy automation devices market growth across the country. Similarly, the increasing number of patient admissions across hospitals for treatment, coupled with the high demand for medication dispensing systems across decentralized hospital pharmacies, further drives the market growth.

This market witnessed a negative impact due to the COVID-19 pandemic in 2020, owing to a decline in patients visiting health settings, such as hospitals and outpatient & retail pharmacies across the nation.

U.S. Pharmacy Automation Devices Market Trends

Rise in Adoption of Robotic Automated Systems across the U.S. Hospital Pharmacies to Propel Market Growth

The incidence of medical prescription errors across clinical settings is high. Thus, hospital pharmacies across the U.S. are now emphasizing the adoption of robotic systems for barcoding, dispensing, intravenous workflow, and intravenous compounding of medications among patients. Moreover, the high potential advantages of these systems, such as patient safety, ease of drug dispensing, and efficient inventory management as compared to manual dispensing devices, cater to the pharmacy automation devices market growth in the U.S.

• According to the statistics published by the national survey conducted by the American Society of Health-System Pharmacists (ASHP) in 2020, 74.5% of hospitals use robots for drug dispensing.

Thus, the rising adoption of robotic systems across retail hospital pharmacies further augments market growth.

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The total number of pharmacists in the U.S. is high compared to other developed countries such as the U.K. (61,140) and Australia (34,726) in the year 2022.

U.S. Pharmacy Automation Devices Market Growth Factors

Rising Strategic Acquisitions and Product Launches by Key Corporations will Propel Growth

The demand for automated dispensing systems is high across U.S. hospitals and retail pharmacies. Thus, the market players are focusing on strategic initiatives, such as mergers and acquisitions to expand their pharmacy automation devices portfolio in the U.S. market. Moreover, the strong focus of these players on technological advancements and improving the digital capabilities of these automation devices to be installed in hospital pharmacies drives the demand for pharmacy automation devices during the forecast period. Moreover, the rising presence of industry players with automation software that is integrated with systems further propels market growth.

• In August 2021, Capsa Healthcare acquired Specialty Carts Inc. to expand LTC's medication management capabilities. The acquisition will continue Capsa’s ability to provide a highly diverse product offering in pharmacy automation.

RESTRAINING FACTORS

Need for High Capital Investments for Installation of the Devices to Hamper Market Growth

The increasing number of installations of automation devices requires high capital investment as compared to manual setups. Additionally, the growing concerns over return on investment (ROI) related to pharmacy automation devices may limit its adoption by hospitals and pharmacies, which is further hampering the market growth.

• According to data revealed by SpaceMed, in May 2023, though pharmacy automation devices reduce labor costs, lower the risk of dispensing errors, and optimize inventory control, the capital investment for the installation of these devices is high.

Thus, these elements, coupled with rising device maintenance costs by health settings, further limit the U.S. pharmacy automation devices market growth.

U.S. Pharmacy Automation Devices Market Segmentation Analysis

By Product Analysis

Based on product, the market is segmented into automated medication dispensing systems, automated packaging systems, and others.

The automated medication dispensing systems segment held a larger share in 2022 owing to the rising launch of automated devices with technologically advanced solutions by key players. Moreover, the growing adoption of pharmacy automation systems across the U.S. distribution channels, such as retail and community pharmacies, further augments the segment share in the U.S. market.

• In September 2022, RedSail Technologies, LLC., launched and implemented Axys by Integra, an all-new cloud-based pharmacy management system for better outcomes for long-term care pharmacies.

By Distribution Model Analysis

Based on the distribution model, the market is segmented into centralized and decentralized.

The decentralized segment held a larger share in 2022 owing to the high adoption of decentralized distribution of medication across hospital and retail pharmacies. Similarly, high advantages associated with decentralized distribution, such as improved inventory management and enhanced patient safety across health settings, are driving the demand for these models.

• As per a research study data revealed by Carstens, Inc., in June 2021, the adoption of a decentralized distribution system across hospitals can save about USD 12,000 on medication dispensing per year.

By End-user Analysis

Based on end-user, the market is segmented into hospital pharmacies, retail pharmacies, and others.

The hospital pharmacies segment held a larger share in 2022 owing to the increasing penetration of robotic pharmacy systems for medication dispensing and management across hospital outpatient settings across the country. Also, the increasing number of hospital admissions and growing number of medicine dispensing among patients further boosts segment share.

• According to data published by Allegheny General Hospital in February 2021, about 30.0% of the 360,000 IV doses administered each year in the hospital are robotically compounded.

List of Key Companies in U.S. Pharmacy Automation Devices Market

In terms of the competitive landscape, the market showcases the presence of established players such as Omnicell, Inc., Becton Dickinson and Company, and Yuyama Co., Ltd.  Omnicell, Inc. grabbed the highest U.S. pharmacy automation devices market share in 2022. The highest share was attributable to the presence of an extensive product portfolio and strong sales performance. Moreover, the rising focus of these players on the introduction of advanced technologies to optimize pharmacy services further augments their market share in the U.S. market.

• In March 2022, Omnicell, Inc. announced the launch of IVX Station with robotic compounding technology. The innovative solution is designed to scale the benefits of leveraging IV robotic technology, making it accessible to the mainstream market.

Some of the other companies with a considerable presence in the U.S. market include Capsa Healthcare, RxSafe, LLC., Baxter, among others. The increasing emphasis of emerging players on introducing advanced systems and solutions for drug dispensing will propel their share in the U.S. market.

• In March 2023, Capsa Healthcare launched its updated NexsysADC technology, including the 4T, a countertop version of the automated dispensing cabinet for sensitive medications that mainly controls opioids.

An Infographic Representation of U.S. Pharmacy Automation Devices Market

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LIST OF KEY COMPANIES PROFILED:

• Omnicell, Inc. (U.S.)


• BD (U.S.)


• Yuyama Co., Ltd. (Japan)


• Baxter (U.S.)


• Capsa Healthcare (U.S.)


• ScriptPro LLC (U.S.)


• RxSafe, LLC. (U.S.)


• Swisslog Healthcare (KUKA AG) (Switzerland)

KEY INDUSTRY DEVELOPMENTS: 

• December 2022: TOUCHPOINT MEDICAL, INC., entered into an innovation agreement with ApoEx to supply pharmaceutical dispensing cabinets within public and private healthcare in Sweden.


• April 2022: Omnicell, Inc., entered into a partnership with Hanmi Pharm. Co., Ltd, to distribute JVM CO. LTD., medication dispensing, and packaging automation in the U.K.


• March 2022: Capsa Healthcare announced the expansion of controlled medication storage expansion to its suite of NexsysADC automated dispensing cabinets. NexsysADC can accommodate any large size of controlled or high-value medications or supplies in two new sizes of Controlled Access Module Drawers.

REPORT COVERAGE

The U.S. pharmacy automation devices market research report provides a detailed market analysis and focuses on crucial aspects such as leading players, product types, and major indications of products. Additionally, it offers insights into market trends, key industry developments such as mergers, partnerships, & acquisitions, and the impact of COVID-19 on the market. In addition to the factors mentioned above, the report includes the factors that have contributed to the market's growth in recent years with a regional analysis of different segments.

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