Pharmaceutical Automation Market Size, Share, Growth Analysis, By Automation(semi-automatic and fully-automatic), By End user(pharmaceutical sector and the biotech industry) - Industry Forecast 2024-2031

Pharmaceutical Automation Market size was valued at USD 5.166 billion in 2022 and is poised to grow from USD 6.11 billion in 2023 to USD 11.33 billion by 2031, at a CAGR of 8.02% during the forecast period (2024-2031).030).

The sector is very segmented because it is largely centred in the western hemisphere (Europe and North America). Strategic agreements between hospitals/pharmacies and software companies as well as mergers and acquisitions of smaller businesses by larger players are the key drivers of this industry. 'Siemens AG', 'Rockwell Automation, Inc.', 'ABB Ltd.', 'Emerson Electric Co.', 'General Electric Co.', 'Mitsubishi Electric Corporation', 'Honeywell International Inc.', 'Schneider Electric SE', 'Yokogawa Electric Corporation', 'Omron Corporation', 'FANUC Corporation', 'KUKA AG', 'Bosch Packaging Technology', 'Marchesini Group S.p.A.', 'Optel Group', 'Seidenader Maschinenbau GmbH', 'Wuxi Biologics (Cayman) Inc.', 'Zenith Technologies (a Cognizant company)', 'Gerresheimer AG', 'Thermo Fisher Scientific Inc.', 'AmerisourceBergen Corporation declared in January 2023 that it has successfully completed the acquisition of PharmaLex Holding GmbH. AmerisourceBergen Corporation's growth plan is strengthened by the purchase of PharmaLex, which expands the company's expertise in specialty services and platform of pharma manufacturer services capabilities. ', 'October 2022 Omnicell, Inc. (Nasdaq: OMCL), a top provider of medication management and adherence technologies for health systems and pharmacies, announced today the launch of Specialty Pharmacy Services, a turnkey product with specialized services to set up, run, and optimize a specialty pharmacy program. ', 'Today was the 2022 Investor Day for Omnicell, Inc. (Nasdaq: OMCL), a leading supplier of prescription administration and adherence technologies to pharmacies and hospitals, which was held in September 2022. The company gave a thorough description of its unique business model and differentiated approach during the event. It also shared details about its Advanced Services portfolio, ESG strategy, and long-term financial objectives.'

The rising use of robots in pharmaceutical manufacturing, government programmes to support industrial development, rising investments in modernising traditional production facilities, and rising consumer demand for secure and digitalized production processes are all factors contributing to the growth of this market.

The rising need for equipment that lowers pharmaceutical mistakes is fueling the expansion of the worldwide pharmacy automation market.

On the basis of region, it is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa (MEA). The pharmaceutical automation market is anticipated to be dominated by Asia-Pacific in 2022, followed by Europe and North America. The significant market share held by Asia-Pacific is attributable to China, Japan, and Singapore's high levels of technical robotics awareness. The Asia-Pacific market for pharmaceutical automation solutions is driven in part by the region's strong pharmaceutical manufacturing sector. North America dominated the market and took home the largest percentage of revenue, amounting to more than 54.5%. Among the main forces behind the region's growth are the region's advanced healthcare system, improvements in patient management, and hospital management systems. According to a report in Drug Store News, automation and other forms of technology have been more prevalent over the past 15 months for both prescribers and pharmacists, with 66% of prescribers reporting this. The COVID-19 pandemic has fueled the growth of technology adoption, according to many technology vendors, who also claim that pharmacy automation is the future.