< Key Hightlight >

MARKET OUTLOOK

As per Triton’s research report, the pharmacy automation equipment market in North America is predicted to display a compound annual growth rate of 7.34% in the years 2022-2028. The United States and Canada form the market in this region.

The Canadian market is well-established, comprising the global and local players competing intensely. Moreover, the country has a better healthcare infrastructure offering high-quality services. Some of the factors driving the studied market’s growth include increasing demand for specialty drug prescription filing solutions, growing need to reduce medication errors, and decentralization of pharmacies. In this regard, an automated medication system helps reduce these issues, ensuring patient safety. Hence, as mentioned above, all these factors are anticipated to widen the scope and growth of the pharmacy automation equipment market. 

Similarly, the US FDA receives a large number of reports relating to medication errors each year. As per a study, approximately 7000 to 9000 people succumb to death due to medication errors every year. Hence, the regulation for safe handling enables market players to offer devices as per regulatory guidelines to reduce medication errors. This has resulted in several launches in the market. For instance, Capsa Healthcare develops medication carts, computers carts, and prescription table counters used in various healthcare settings, including surgery centers, senior care, and hospitals. Therefore, these factors are expected to augment the pharmacy automation equipment market’s growth in the United States. 

COMPETITIVE OUTLOOK

The prominent companies in the pharmacy automation equipment market are Scriptpro LLC, Cerner Corporation, Becton Dickinson and Company, Capsa Healthcare LLC, Newicon Oy, Baxter International Inc, Parata Systems LLC, and Alixarx.