Pharmacy Automation Systems Market: Industry Expert View on Future Growth and Market Trends
The growth of pharmacy automation systems market is attributed to the driving factors, such as the growing adoption of robotic pharmacies and growing risk of medication errors. However, high capitalization cost requirements and shortcomings of systems are hindering the market growth.
Several companies operating in the market are taking strategic initiatives, such as enhancing product offerings with advanced technologies. For instance, in June 2022, BD announced that it would acquire Parata Systems for US$ 1.5 billion. The acquisition will allow the merger of Parata’s innovative pharmacy automation solutions to the existing portfolio of BD for medication management. The acquisition will help BD to strengthen its offering for retail pharmacies, acute care health systems, long-term care, and home settings. Such strategic decisions are expected enhance product and technology development by the companies and contribute significantly to the market growth.
The pharmacy automation systems market comprises top players such as McKesson Corp, Becton Dickinson and Company, Capsa Solutions LLC, Omnicell Inc, Oracle Corp, Deenova Srl, ScriptPro LLC, Veradigm LLC, Innovation Associates, YUYAMA Manufacturing Co Ltd, and Swisslog Healthcare AG.
The companies listed above are implementing various strategies that have resulted in the company's growth and, in turn, have brought about various changes in the worldwide market. Additionally, the companies have adopted several inorganic and organic strategies for accelerating their growth and improving their market position.
Several companies operating in the market are taking strategic initiatives, such as enhancing product offerings with advanced technologies. For instance, in June 2022, BD announced that it would acquire Parata Systems for US$ 1.5 billion. The acquisition will allow the merger of Parata’s innovative pharmacy automation solutions to the existing portfolio of BD for medication management. The acquisition will help BD to strengthen its offering for retail pharmacies, acute care health systems, long-term care, and home settings. Such strategic decisions are expected enhance product and technology development by the companies and contribute significantly to the market growth.
The pharmacy automation systems market comprises top players such as McKesson Corp, Becton Dickinson and Company, Capsa Solutions LLC, Omnicell Inc, Oracle Corp, Deenova Srl, ScriptPro LLC, Veradigm LLC, Innovation Associates, YUYAMA Manufacturing Co Ltd, and Swisslog Healthcare AG.
The companies listed above are implementing various strategies that have resulted in the company's growth and, in turn, have brought about various changes in the worldwide market. Additionally, the companies have adopted several inorganic and organic strategies for accelerating their growth and improving their market position.
Below is the list of the growth strategies done by the players operating in the pharmacy automation systems market:
May-2023: ScriptPro received a 2023 Retail Excellence Award–Technology and Automation from Drug Store News. The premier chain and retail industry publication, DSN, spotlights pharmacy technology companies that are continually striving to do their best for their customers
Apr-2023: iA, launched NEXiA Enterprise Analytics, its first cloud-based application for NEXiA software for pharmacy fulfillment. NEXiA Enterprise Analytics adds a new intelligence application to iA’s NEXiA software suite, enabling customers to visualize pharmacy operations across multiple fulfillment locations in real-time. Enterprise Analytics can help customers identify trends more quickly and aid in delivering prescriptions to patients with optimal speed and efficiency. NEXiA Enterprise Analytics is the first cloud-based application released within the NEXiA software suite for pharmacy fulfillment
Feb-2023: The province of Nova Scotia, in collaboration with Nova Scotia Health Authority (NSHA) and IWK Health (IWK), announced a new 10-year agreement has been signed with Oracle Cerner to implement an integrated electronic care record across the province for more than one million Nova Scotians. This technology can help improve how health professionals use and share patient information. The new modernization, known in Nova Scotia as “One Person One Record” (OPOR), is intended to provide clinicians with easier access to real-time health information anywhere and allow healthcare workers to spend less time at the computer and more time with their patients
Jun-2022: BD acquired Parata Systems, an innovative provider of pharmacy automation solutions, for $1.525 billion. Together with BD, the company expects Parata's solutions to outpace market growth through BD's commercial footprint, global scale, and innovation capabilities. Parata's portfolio of innovative pharmacy
About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, Chemicals and Materials.
May-2023: ScriptPro received a 2023 Retail Excellence Award–Technology and Automation from Drug Store News. The premier chain and retail industry publication, DSN, spotlights pharmacy technology companies that are continually striving to do their best for their customers
Apr-2023: iA, launched NEXiA Enterprise Analytics, its first cloud-based application for NEXiA software for pharmacy fulfillment. NEXiA Enterprise Analytics adds a new intelligence application to iA’s NEXiA software suite, enabling customers to visualize pharmacy operations across multiple fulfillment locations in real-time. Enterprise Analytics can help customers identify trends more quickly and aid in delivering prescriptions to patients with optimal speed and efficiency. NEXiA Enterprise Analytics is the first cloud-based application released within the NEXiA software suite for pharmacy fulfillment
Feb-2023: The province of Nova Scotia, in collaboration with Nova Scotia Health Authority (NSHA) and IWK Health (IWK), announced a new 10-year agreement has been signed with Oracle Cerner to implement an integrated electronic care record across the province for more than one million Nova Scotians. This technology can help improve how health professionals use and share patient information. The new modernization, known in Nova Scotia as “One Person One Record” (OPOR), is intended to provide clinicians with easier access to real-time health information anywhere and allow healthcare workers to spend less time at the computer and more time with their patients
Jun-2022: BD acquired Parata Systems, an innovative provider of pharmacy automation solutions, for $1.525 billion. Together with BD, the company expects Parata's solutions to outpace market growth through BD's commercial footprint, global scale, and innovation capabilities. Parata's portfolio of innovative pharmacy
About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, Chemicals and Materials.
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