Robotic Pharmacy Prescription Dispensing Systems Market by End-user and Geography - Forecast and Analysis 2022-2026

Published: May 2022

Pages: 120

SKU: IRTNTR45933

Snapshot

The robotic pharmacy prescription dispensing systems market share is expected to increase by USD 1.53 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.66%.

The robotic pharmacy prescription dispensing systems market has been broadly categorized into the following demographic segmentations:

End-user - Hospital pharmacies and retail pharmacies
Geography - North America, Europe, APAC, Middle East and Africa, and South America

The robotic pharmacy prescription dispensing systems market report offers information on several market vendors, including ARxIUM, Becton Dickinson and Co., Abacus Rx Inc, Accu-Chart Plus Health Care Systems., Capsa Healthcare LLC, Centred Solutions, Cerner Corp., Clover 51 Ltd., Euclid Medical Products, Gebr. Willach GmbH, JVM Co Ltd., KUKA AG, Lamson Concepts Pty. Ltd., Manchac Technologies, Medication Management Robotics, NewIcon Oy, Omnicell Inc., Parata Systems LLC, QxRobotics, and ScriptPro among others.

One of the key highlights of the robotic pharmacy prescription dispensing systems market research report is the post-COVID-19 impact analysis on the market, which will help companies evaluate their business approaches for the forecast period.

What will the Robotic Pharmacy Prescription Dispensing Systems Market Size be During the Forecast Period?

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Robotic Pharmacy Prescription Dispensing Systems Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post-COVID-19 era. The need for reductions in medication errors is notably driving the robotic pharmacy prescription dispensing systems market growth, although factors such as budget constraints with small-scale pharmacies may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the robotic pharmacy prescription dispensing systems industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Robotic Pharmacy Prescription Dispensing Systems Market Driver

The need for reductions in medication errors is one of the key drivers supporting the robotic pharmacy prescription dispensing systems market growth.
The automation of prescription dispensing is becoming increasingly essential because of the deficit in the quality staff in pharmacies. This has led to increased adoption of pharmacy automation systems to reduce dispensing errors.
Costs incurred due to medication errors can be a huge liability to the US economy.
A lot of medication errors were caused due to the incorrect manual dispensing of medicines to the patients.
Hospital pharmacies are increasingly adopting lean management principles to streamline processes and implement automation solutions. Thus, the robotic pharmacy prescription dispensing systems market will experience a positive impact during the forecast period.

Key Robotic Pharmacy Prescription Dispensing Systems Market Trend

Improvement in customer support services is one of the key robotic pharmacy prescription dispensing systems market trends contributing to the market growth.
Vendors are offering automated systems updated with the latest software and drug database for both new installation and leased systems.
Many manufacturers organize workshops and conduct meetings with end-users to promote pharmacy automation systems, collect feedback, and offer customized solutions.
Vendors work in partnership with pharmacies to increase their market share.
For instance, McKesson (now Aesynt) works in partnership with Health Mart, a national network of more than 3,500 independently-owned pharmacies. Health Mart offers compounding services, pharmaceutical care services, research, Medicare Part D counseling, and long-term care services. Such instances will propel the robotic pharmacy prescription dispensing systems market growth during the forecast period.

Key Robotic Pharmacy Prescription Dispensing Systems Market Challenge

Budget constraints with small-scale pharmacies is one of the factors challenging the robotic pharmacy prescription dispensing systems market growth.
The maintenance costs of robotic pharmacy prescription dispensing systems in terms of servicing and consulting services prior to the integration into the overall pharmacy automation system will add significantly to the overall expenditure.
Remodeling and relocation of fixtures and consultation are essential for pharmacies investing in larger systems with demand for high volumes of medication. This has led to a low penetration rate of these systems in developing and low-income countries.
The global robotic pharmacy prescription dispensing systems market will face challenges during the forecast period in terms of acceptance as there is a lack of trust in the use of technology for pharmacies along with an incapability to use technology. This, in turn, will hamper the market growth during the forecast period.

This robotic pharmacy prescription dispensing systems market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global robotic pharmacy prescription dispensing systems market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the robotic pharmacy prescription dispensing systems market during the forecast period.

Who are the Major Robotic Pharmacy Prescription Dispensing Systems Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

This statistical study of the robotic pharmacy prescription dispensing systems market encompasses successful business strategies deployed by the key vendors. The robotic pharmacy prescription dispensing systems market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

Arxium.com - The company offers Robotic pharmacy prescription dispensing systems that include automated iv compounding systems, barcode validation, automated oral solid filling, manual filling, packing and inventory control, complete order control and reporting, inventory management, and automated dispensing cabinets.
Bd.com - The company offers Robotic pharmacy prescription dispensing systems that provide medication and supply management solutions to help increase inventory visibility and address your medication error challenges to ensure medications and supplies are available when and where they are needed across care settings.
Capsahealthcare.com - The company offers Robotic pharmacy prescription dispensing systems that includes pharmacy robots which allow the team to supply medicines quickly and reduce the likelihood of medicines picking errors.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The robotic pharmacy prescription dispensing systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Robotic Pharmacy Prescription Dispensing Systems Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the robotic pharmacy prescription dispensing systems market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Robotic Pharmacy Prescription Dispensing Systems Market?

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44% of the market's growth will originate from North America during the forecast period. The US is the key market for robotic pharmacy prescription dispensing systems market in North America. Market growth in this region will be slower than the growth of the market in other regions.

With the aim of reducing medication errors, more pharmacies are increasingly investing in automation solutions, which reduce increasing patient safety and operational cost by streamlining processes in pharmacies. This will facilitate the robotic pharmacy prescription dispensing systems market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic in 2020 certainly had a negative impact on the market in North America, which resulted in the temporary closure of various industries, including those manufacturing robotic pharmacy prescription dispensing systems. However, in 2021, the demand for these products rebounded, as manufacturing units were reopened due to COVID-19 vaccination drives. These factors will drive the growth of the regional robotic pharmacy prescription dispensing systems market during the forecast period.

What are the Revenue-generating End-user Segments in the Robotic Pharmacy Prescription Dispensing Systems Market?

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The robotic pharmacy prescription dispensing systems market share growth in the hospital pharmacies segment will be significant during the forecast period. The global robotic pharmacy prescription dispensing systems market by the hospital pharmacies segment is predicted to grow consistently during the forecast period as a need for accuracy, safety, and competency in the pharmacy environment has been felt by various regulatory authorities, healthcare professionals, and other end-users. The increased concern about medication errors and patient safety has propelled the adoption of such systems, which reduces waiting times and improve the financial performance of pharmacies by allowing them to deal with a greater number of prescriptions compared with manual dispensing methods. This is driving segment growth.

This report provides an accurate prediction of the contribution of all the segments to the growth of the robotic pharmacy prescription dispensing systems market size and actionable market insights on the post-COVID-19 impact on each segment.

Robotic Pharmacy Prescription Dispensing Systems Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 8.66%
Market growth 2022-2026	$ 1.53 billion
Market structure	Fragmented
YoY growth (%)	6.97
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	North America at 44%
Key consumer countries	US, Japan, China, UK, Germany, US, Japan, China, UK, Germany, US, Japan, China, UK, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	ARxIUM, Becton Dickinson and Co., Abacus Rx Inc, Accu-Chart Plus Health Care Systems., Capsa Healthcare LLC, Centred Solutions, Cerner Corp., Clover 51 Ltd., Euclid Medical Products, Gebr. Willach GmbH, JVM Co Ltd., KUKA AG, Lamson Concepts Pty. Ltd., Manchac Technologies, Medication Management Robotics, NewIcon Oy, Omnicell Inc., Parata Systems LLC, QxRobotics, and ScriptPro
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Robotic Pharmacy Prescription Dispensing Systems Market Report?

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will drive robotic pharmacy prescription dispensing systems market growth during the next five years
Precise estimation of the robotic pharmacy prescription dispensing systems market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the robotic pharmacy prescription dispensing systems industry across North America, Europe, APAC, Middle East and Africa, and South America
A thorough analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of robotic pharmacy prescription dispensing systems market vendors

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Table of Contents

***1. Executive Summary

**1.1 Market overview

*Exhibit 01: Executive Summary – Chart on Market Overview

*Exhibit 02: Executive Summary – Data Table on Market Overview

*Exhibit 03: Executive Summary – Chart on Global Market Characteristics

*Exhibit 04: Executive Summary – Chart on Market by Geography

*Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user

*Exhibit 06: Executive Summary – Chart on Incremental Growth

*Exhibit 07: Executive Summary – Data Table on Incremental Growth

*Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

***2. Market Landscape

**2.1 Market ecosystem

*Exhibit 09: Parent market

*Exhibit 10: Market Characteristics

***3. Market Sizing

**3.1 Market definition

*Exhibit 11: Offerings of vendors included in the market definition

**3.2 Market segment analysis

*Exhibit 12: Market segments

**3.3 Market size 2021

**3.4 Market outlook: Forecast for 2021-2026

*Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)

*Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)

*Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)

*Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

***4. Five Forces Analysis

**4.1 Five Forces Summary

*Exhibit 17: Five forces analysis - Comparison between2021 and 2026

**4.2 Bargaining power of buyers

*Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

**4.3 Bargaining power of suppliers

*Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

**4.4 Threat of new entrants

*Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

**4.5 Threat of substitutes

*Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

**4.6 Threat of rivalry

*Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

**4.7 Market condition

*Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

***5. Market Segmentation by End-User

**5.1 Market segments

*Exhibit 24: Chart on End-user - Market share 2021-2026 (%)

*Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)

**5.2 Comparison by End-user

*Exhibit 26: Chart on Comparison by End-user

*Exhibit 27: Data Table on Comparison by End-user

**5.3 Hospital pharmacies - Market size and forecast 2021-2026

*Exhibit 28: Chart on Hospital pharmacies - Market size and forecast 2021-2026 ($ million)

*Exhibit 29: Data Table on Hospital pharmacies - Market size and forecast 2021-2026 ($ million)

*Exhibit 30: Chart on Hospital pharmacies - Year-over-year growth 2021-2026 (%)

*Exhibit 31: Data Table on Hospital pharmacies - Year-over-year growth 2021-2026 (%)

**5.4 Retail pharmacies - Market size and forecast 2021-2026

*Exhibit 32: Chart on Retail pharmacies - Market size and forecast 2021-2026 ($ million)

*Exhibit 33: Data Table on Retail pharmacies - Market size and forecast 2021-2026 ($ million)

*Exhibit 34: Chart on Retail pharmacies - Year-over-year growth 2021-2026 (%)

*Exhibit 35: Data Table on Retail pharmacies - Year-over-year growth 2021-2026 (%)

**5.5 Market opportunity by End-user

*Exhibit 36: Market opportunity by End-user ($ million)

***6. Customer landscape

*Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

**6.1 Customer landscape overview

*Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

*** 7. Geographic Landscape

**7.1 Geographic segmentation

*Exhibit 38: Chart on Market share by geography 2021-2026 (%)

*Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

**7.2 Geographic comparison

*Exhibit 40: Chart on Geographic comparison

*Exhibit 41: Data Table on Geographic comparison

**7.3 North America - Market size and forecast 2021-2026

*Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)

*Exhibit 43: Data Table on North America- Market size and forecast 2021-2026 ($ million)

*Exhibit 44: Chart on North America- Year-over-year growth 2021-2026 (%)

*Exhibit 45: Data Table on North America- Year-over-year growth 2021-2026 (%)

**7.4 Europe - Market size and forecast 2021-2026

*Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)

*Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)

*Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)

*Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)

**7.5 APAC- Market size and forecast 2021-2026

*Exhibit 50: Chart on APAC- Market size and forecast 2021-2026 ($ million)

*Exhibit 51: Data Table on APAC- Market size and forecast 2021-2026 ($ million)

*Exhibit 52: Chart on APAC- Year-over-year growth 2021-2026 (%)

*Exhibit 53: Data Table on APAC- Year-over-year growth 2021-2026 (%)

**7.6 Middle East and Africa - Market size and forecast 2021-2026

*Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)

*Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)

*Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)

*Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

**7.7 South America- Market size and forecast 2021-2026

*Exhibit 58: Chart on South America- Market size and forecast 2021-2026 ($ million)

*Exhibit 59: Data Table on South America- Market size and forecast 2021-2026 ($ million)

*Exhibit 60: Chart on South America- Year-over-year growth 2021-2026 (%)

*Exhibit 61: Data Table on South America- Year-over-year growth 2021-2026 (%)

**7.8 US - Market size and forecast 2021-2026

*Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)

*Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)

*Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)

*Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

**7.9 UK - Market size and forecast 2021-2026

*Exhibit 66: Chart on UK- Market size and forecast 2021-2026 ($ million)

*Exhibit 67: Data Table on UK- Market size and forecast 2021-2026 ($ million)

*Exhibit 68: Chart on UK- Year-over-year growth 2021-2026 (%)

*Exhibit 69: Data Table on UK- Year-over-year growth 2021-2026 (%)

**7.10 Japan - Market size and forecast 2021-2026

*Exhibit 70: Chart on Japan - Market size and forecast 2021-2026 ($ million)

*Exhibit 71: Data Table on Japan - Market size and forecast 2021-2026 ($ million)

*Exhibit 72: Chart on Japan - Year-over-year growth 2021-2026 (%)

*Exhibit 73: Data Table on Japan - Year-over-year growth 2021-2026 (%)

**7.11 China- Market size and forecast 2021-2026

*Exhibit 74: Chart on China- Market size and forecast 2021-2026 ($ million)

*Exhibit 75: Data Table on China- Market size and forecast 2021-2026 ($ million)

*Exhibit 76: Chart on China- Year-over-year growth 2021-2026 (%)

*Exhibit 77: Data Table on China- Year-over-year growth 2021-2026 (%)

**7.12 Germany- Market size and forecast 2021-2026

*Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)

*Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)

*Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)

*Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)

**7.13 Market opportunity by geography

*Exhibit 82: Market opportunity by geography ($ million)

***8. Drivers, Challenges, and Trends

**8.1 Market drivers

*8.1.1 Need for reductions in medication errors

*8.1.2 Miniaturization of sensors

*8.1.3 Government support

**8.2 Market challenges

*8.2.1 Budget constraints with small-scale pharmacies

*8.2.2 Threat from alternatives

*8.2.3 Possibilities of errors

**8.3 Impact of drivers and challenges

*Exhibit 83: Impact of drivers and challenges in 2021 and 2026

**8.4 Market trends

*8.4.1 Improvement in customer support services

*8.4.2 Promotion of e-prescriptions

*8.4.3 Rise of closed-loop medication systems

***9. Vendor Landscape

**9.1 Overview

**9.2 Vendor landscape

*Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

**9.3 Landscape disruption

*Exhibit 85: Overview on factors of disruption

**9.4 Industry risks

*Exhibit 86: Impact of key risks on business

***10. Vendor Analysis

**10.1 Vendors covered

*Exhibit 87: Vendors covered

**10.2 Market positioning of vendors

*Exhibit 88: Matrix on vendor position and classification

**10.3 ARxIUM

*Exhibit 89: ARxIUM - Overview

*Exhibit 90: ARxIUM - Product / Service

*Exhibit 91: ARxIUM - Key offerings

**10.4 Becton Dickinson and Co.

*Exhibit 92: Becton Dickinson and Co. - Overview

*Exhibit 93: Becton Dickinson and Co. - Business segments

*Exhibit 94: Becton Dickinson and Co. - Key news

*Exhibit 95: Becton Dickinson and Co. - Key offerings

*Exhibit 96: Becton Dickinson and Co. - Segment focus

**10.5 Capsa Healthcare LLC

*Exhibit 97: Capsa Healthcare LLC - Overview

*Exhibit 98: Capsa Healthcare LLC - Product / Service

*Exhibit 99: Capsa Healthcare LLC - Key offerings

**10.6

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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