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MARKET OUTLOOK

Based on estimates by Triton, the pharmacy automation equipment market will grow at a CAGR of 9.02% over the forecasted phase 2022-2028. The ASEAN countries, Rest of APAC, Australia & New Zealand, India, China, South Korea, and Japan form the market in the given region. 

India is among the fastest-growing countries showcasing immense potential in the pharmacy automation equipment market. This growth can be attributed to the growing position of Indian companies in the global market. Another factor supporting the market’s growth is the huge population base requiring better medical care. This rise in demand for medical facilities induced by a large population base has encouraged the government to introduce new initiatives. Moreover, the government is investing heavily to improve overall healthcare infrastructure. All these factors are estimated to propel the Indian pharmacy automation equipment market on a growth path. 

In South Korea, there is an increasing need for efficiency, productivity, system integration, and lower medication errors within pharmacies. As a result, pharmacy automation systems have gained substantial traction given their ability to tackle all the problems mentioned above. Further, the country has witnessed a surge in its aging population over the recent past, which is influencing the demand for automated systems to ensure patient safety. Besides this, automated systems play a major role in diagnosing and treating medical conditions. Therefore, these factors are expected to widen the scope of the pharmacy automation equipment market within South Korea. 

COMPETITIVE OUTLOOK

Baxter International Inc, Parata Systems LLC, Swisslog Holdings AG, Arxium Inc, Omnicell Inc, Pearson Medical Technologies, McKesson Corporation, Accu Chart Plus Healthcare System Inc are some of the major firms thriving in the pharmacy automation equipment market.