What is Pharmacy Automation Market and Why Should Pharmacies Care?

Introduction

During the 1980s, pharmacy automation has grown to include a variety of categories that improve accuracy and efficiency. To reduce risk and labour costs, pharmacists have been using early versions of pharmacy automation since the 1980s, such as computerized tablet counters. Nevertheless, these methods have proved prohibitively costly, making them unavailable to independent pharmacists. These automation devices are becoming more affordable and user-friendly. A few tasks carried out at pharmacies take time and are prone to mistakes. These duties are precisely and effectively carried out through pharmacy automation, allowing patients to get their prescribed prescriptions more quickly.

What is Pharmacy Automation?

Pharmacy automation is the practise of automating routine actions and procedures in pharmacies and other healthcare facilities. Pharmacy automation refers to the mechanical process involved in any operation performed in a pharmacy, such as analysing and combining powders and liquids for compounding, counting tiny items, and maintaining and updating client information in databases. The introduction of automation helped to reduce medicine delivery mistakes, hence enhancing patient safety.The electronic distribution, sorting, packing, and counting of prescription drugs is known as pharmacy automation. Among the many benefits of pharmacy automation are increased productivity, lower labour costs, and more accuracy. Initially, pill counting was one of the only methods used in pharmacy automation.

Growth in Pharmacy Automation Market

• Data Bridge Market Research examines the pharmacy automation market‘s growth rate from 2023 to 2030. Throughout the aforementioned forecast period, the pharmacy automation market is anticipated to grow at a CAGR of around 9.20%. In 2022, the market was estimated to be worth USD 5.53 billion, and by 2030, it would be worth USD 11.19 billion. The market report created by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework in addition to market insights like market value, growth rate, market segments, geographic coverage, market players, and market scenario.
• Pharmaceutical automation is popular because it makes it possible for numerous operations to be carried out efficiently in pharmacies and the healthcare sector. Patient safety has been improved by the extensive use of automation, which has decreased the frequency of medicine delivery errors. By an increase in their presence across various emerging economies, pharmacy automation is embracing new prospects. In addition, the industry is developing as a result of pharmacists’ increased awareness.

Global Pharmacy Automation Market Dynamics

• Worldwide, it has been noted that prescription and dispensing errors are the main causes of hospital readmissions. Pharmaceutical mistakes can have a variety of reasons, including inadequate order communication between the doctor and pharmacist and risky pharmacy storage practices, which might accelerate the market’s growth pace. Moreover, automated techniques are recognised as one of the most important strategies to solve issues. As a result, this component spurs market expansion.
• The capacity of automated medicine dispensing systems to eliminate drug mistakes, shorten procedure times, and enhance patient safety concerns has led to a strong demand for the systems. Moreover, these systems eliminate manual end-of-shift narcotic counts, particularly in inpatient care units, and track narcotics and other substances while observing drug use patterns. The need for drugs increased as the infection incidence rose, notably during the pandemic. The requirement for automated drug distribution systems was positively affected by the rising infection rate. Pharmacy and healthcare institutions choose these automated systems as a result, increasing their demand. Consequently, it stimulates market expansion.

Why Should Pharmacies Care about Automation?

Pharmacy automation offers pharmacy managers a number of advantages, such as greater inventory control, better space savings, improved narcotics security, and higher accuracy and speed.

Precision and quickness

• You can be sure you have access to the proper bottle.
• The bottle is weighed upon return to the system to guarantee precise counts.
• User errors are recorded.
• Inventory that moves slowly is marked.
• No more wasting inventory or overstocking.
• keeps track of and logs every CII action automatically.

Savings in space:

• Up to 5,400 stock bottles may be kept in a 40 square foot area.
• Increase your floor area to increase your revenue.
• Save money on renovating.
• For consulting, immunization, compounding, compliance packing, and counting technologies, valuable space may be recovered.

Drugs security

• Stock bottles should be kept behind closed doors.
• Force workflow at a single station without incurring further costs for additional hardware or software.
• You will always have access to the proper bottle thanks to our exclusive software.
• To ensure precise counts, the bottle is weighed when it is put back into the system.
• Both user errors and slow-moving merchandise are noted.
• No more wasting inventory or overstocking.

Inventory control

• Monitor your inventory in real time so you can plan your reorders.
• No inventory that vanishes.
• No second bottle may be opened.
• No waste because it has expired.
• Another included basic function of the system is remote stock management.
• The system controls all pharmaceutical inventory, whether it is kept inside or outside.
• No more troubleshooting inventory management across many sites.

Pharmacy automation has an impact on you even if you don’t own a pharmacy since it will be managing the prescriptions you consume. This is a good invention for consumers since it makes sure you get the proper drug in the right dosage at the right time.

About Data Bridge Market Research

A global market intelligence and consulting company, Data Bridge Market Research is dedicated to aiding its wide range of customers in achieving transformative growth by assisting them in making important business choices. Players from a range of industries and nations throughout the world make up our clientele. Our extremely trustworthy and precise reports add value for clients. In addition, we are committed to continuing to provide our clients with quantifiable, long-lasting outcomes by taking the lead in providing insights in numerous areas after COVID-19.