Abstract
Summary
The global Asia Pacific pharmacy automation market is projected to reach USD 763 million by 2028 from USD 496 million in 2023, at a CAGR of 9.0% during the forecast period. The ability to stock the right quantity of medication at the specified location, dispensing the right dosage of medicine, and to increase the overall efficiency of a pharmacy while keeping costs low will provide lucrative opportunities to the market during the forecast period.
“Automated dispensing cabinets (ADCs) segment accounted for a substantial share of the automated medication dispensing and storage systems market, by type in 2022.”
In 2022, the automated dispensing cabinets (ADCs) segment accounted for a substantial share of the automated medication dispensing and storage systems market, by type. The growth of this segment is attributed to the advantaged offered by these solutions such as computerized storage, dispensing, inventory control, computerized order entry, bar-coded medication administration, and documentation. This provides better medication management, increased medication security, and safety. The combination of medication safety, efficiency, cost-effectiveness, regulatory compliance, and technological advancements has been driving the growth of automated dispensing cabinets in healthcare facilities.
“Outpatient/Fast-track clinics segment accounted for a considerable share in the Asia Pacific pharmacy automation market for outpatient pharamcies, by type in 2022”
In 2022, the Outpatient/Fast-track clinics segment accounted for a considerable share in the Asia Pacific pharmacy automation market for outpatient pharamcies, by type. The large share of this segment can be attributed to the enhanced medication safety and inventory control and the ability to minimize errors. Moreover, accurate tracking reduces inventory waste, creating significant cost savings in outpatient pharmacy settings. High patient volumes, requiring efficient and streamlined processes to handle prescription orders and medication dispensing, time efficiency, streamlined workflows, space optimization, regulatory compliance, and patient convenience has been driving the growth of pharmacy automation in outpatient and fast-track clinics. These automation systems contribute to improved patient care, operational efficiency, and enhanced patient satisfaction in these healthcare settings.
“China to witness the substantial growth rate during the forecast period.”
The market in China is projected to grow at the highest CAGR during the forecast period. Factors such as growing demand for advanced technologies such as increased adoption of technologies such as artificial intelligence, machine learning, robotics, blockchain fostering the adoption of automated pharmacy systems, government initiatives, policies are bolstering the market in the region. The need for seamless integration of offline as well as online pharmacies, enabling streamlined order processing and fast, accurate delivery, increasing prevalence of chronic diseases such as diabetes, cardiovascular diseases, and respiratory disorders, and urbanization leading to 24x7 access to medication are some of the other factors that have contributed into the growth of the pharmacy automation market in China.
The break-down of primary participants is as mentioned below:
• By Company Type - Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
• By Designation - C-level: 35%, Director-level: 25%, and Others: 40%
• By Region - Australia: 45%, Japan: 30%, China: 20%, India: 3%, Others: 2%
Key Players in the Asia Pacific pharmacy automation Market
The key players operating in the Asia Pacific pharmacy automation market include Becton, Dickinson and Company (BD) (US), Yuyama Co., Ltd/Yuyama Mfg Co., Ltd (Japan), Omnicell, Inc. (US), KUKA AG (Swisslog Healthcare) (Germany), TOSHO Co, Inc. (Japan), Oracle Corporation (US), TouchPoint Medical Solutions (US), Takazono Corporation (Japan), Capsa Healthcare (US), ARxIUM, Inc. (US), Mckesson Corporation (US), ATS Corporation (Canada), ScriptPro LLC (US), Hanmi Pharma Co., Ltd. (South Korea), NIHON CHOUZAI Co., Ltd. (Japan), and GETECH (Singapore).
Research Coverage:
The report analyzes the Asia Pacific pharmacy automation market and aims to estimate the market size and future growth potential of various market segments, based on product, end user and country. The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons to Buy the Report
This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.
This report provides insights on:
Analysis of key drivers (growing need to minimize medication errors, decentralization of pharmacies, rising geriatric population leading to increased adoption of automated dispensing systems, growing investments for healthcare infrastructural development, increasing specialty drug dispensing), restraints (reluctance to adopt pharmacy automation systems, high initial capital investments, lack of skilled personnel), opportunities (increasing awareness among pharmacists, high growth opportunities in emerging markets, healthcare cost-reduction measures), and challenges (stringent regulatory procedures, risk of cross-contamination) influencing the growth of the Asia Pacific pharmacy automation market.
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Asia Pacific pharmacy automation market.
Market Development: Comprehensive information on the lucrative emerging markets, product, end user, and country.
Market Diversification: Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the Asia Pacific pharmacy automation market
Competitive Assessment: In-depth assessment of market ranking, growth strategies, product offerings, and capabilities of the leading players in the Asia Pacific pharmacy automation market like Becton, Dickinson and Company (BD) (US), Yuyama Co., Ltd/Yuyama Mfg Co., Ltd (Japan), Omnicell, Inc. (US), KUKA AG (Swisslog Healthcare) (Germany), TOSHO Co, Inc. (Japan).
Table of Contents
1 INTRODUCTION 30
1.1 STUDY OBJECTIVES 30
1.2 MARKET DEFINITION 31
1.3 INCLUSIONS AND EXCLUSIONS 31
1.4 MARKET SCOPE 32
1.4.1 MARKET SEGMENTATION 32
1.4.2 REGIONAL SCOPE 32
1.5 YEARS CONSIDERED 33
1.6 CURRENCY CONSIDERED 33
1.7 STAKEHOLDERS 34
1.8 SUMMARY OF CHANGES 35
1.8.1 RECESSION IMPACT 35
2 RESEARCH METHODOLOGY 36
2.1 RESEARCH APPROACH 36
2.2 RESEARCH DESIGN 36
2.2.1 SECONDARY RESEARCH 36
- 2.2.1.1 Key data from secondary sources 37
2.2.2 PRIMARY RESEARCH 38
- 2.2.2.1 Key data from primary sources 39
- 2.2.2.2 Insights from primary experts 39
2.3 MARKET SIZE ESTIMATION 41
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION 46
2.5 MARKET SHARE ESTIMATION 46
2.6 STUDY ASSUMPTIONS 47
2.7 RESEARCH LIMITATIONS 47
2.7.1 METHODOLOGY-RELATED LIMITATIONS 47
2.7.2 SCOPE-RELATED LIMITATIONS 48
2.8 RISK ASSESSMENT 48
3 EXECUTIVE SUMMARY 49
4 PREMIUM INSIGHTS 54
4.1 ASIA PACIFIC PHARMACY AUTOMATION MARKET OVERVIEW 54
4.2 ASIA PACIFIC PHARMACY AUTOMATION MARKET: REGIONAL GROWTH OPPORTUNITIES 55
4.3 ASIA PACIFIC PHARMACY AUTOMATION MARKET, BY PRODUCT AND COUNTRY, 2022 56
4.4 ASIA PACIFIC PHARMACY AUTOMATION MARKET, BY END USER 57
5 MARKET OVERVIEW 58
5.1 INTRODUCTION 58
5.2 MARKET DYNAMICS 58
5.2.1 DRIVERS 59
- 5.2.1.1 Growing need to minimize medication errors 59
- 5.2.1.2 Adoption of decentralized distribution models by pharmacies 59
- 5.2.1.3 Technological advancements and increased integration in healthcare systems 60
- 5.2.1.4 Growing investments for healthcare infrastructural development 61
- 5.2.1.5 Increasing specialty drug dispensing through mail and central-fill pharmacies 62
5.2.2 RESTRAINTS 63
- 5.2.2.1 Reluctance to adopt pharmacy automation systems 63
- 5.2.2.2 High initial capital investments for pharmacy automation systems 63
- 5.2.2.3 Lack of skilled personnel in emerging economies 64
5.2.3 OPPORTUNITIES 64
- 5.2.3.1 Increasing implementation of technologically advanced automation solutions among pharmacists 64
- 5.2.3.2 High growth opportunities in emerging economies 64
- 5.2.3.3 Implementation of healthcare cost-reduction measures by pharmacists 65
5.2.4 CHALLENGES 66
- 5.2.4.1 Stringent regulatory procedures by government bodies 66
- 5.2.4.2 Risk of cross-contamination in drug dispensing robots in hospital pharmacies 66
6 INDUSTRY INSIGHTS 68
6.1 INTRODUCTION 68
6.2 OVERVIEW OF KEY INDUSTRY TRENDS 68
6.2.1 CUSTOMIZABLE DRUG DISPENSING CABINETS 68
6.2.2 PHARMACY ROBOTIC DISPENSING MACHINES 69
6.2.3 RADIOFREQUENCY IDENTIFICATION IN PHARMACY AUTOMATION 70
6.2.4 ELECTRONIC HEALTH RECORD INTEGRATION AND INTEROPERABILITY THROUGH PHARMACY AUTOMATION SYSTEMS 70
6.3 PORTER’S FIVE FORCES ANALYSIS 72
6.3.1 THREAT OF NEW ENTRANTS 72
6.3.2 THREAT OF SUBSTITUTES 73
6.3.3 BARGAINING POWER OF SUPPLIERS 73
6.3.4 BARGAINING POWER OF BUYERS 73
6.3.5 INTENSITY OF COMPETITIVE RIVALRY 73
6.4 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 74
6.5 REGULATORY ANALYSIS 74
6.5.1 INDIA 74
6.5.2 AUSTRALIA 74
6.5.3 JAPAN 75
6.5.4 CHINA 75
6.6 VALUE CHAIN ANALYSIS 76
6.7 TECHNOLOGY ANALYSIS 77
6.7.1 MACHINE LEARNING 77
6.7.2 ROBOTICS AND ARTIFICIAL INTELLIGENCE 77
6.7.3 VIRTUAL CONTROL 78
6.7.4 BLOCKCHAIN 78
6.8 PATENT ANALYSIS 79
6.8.1 PATENT PUBLICATION TRENDS FOR PHARMACY AUTOMATION SYSTEMS IN ASIA PACIFIC 79
6.8.2 INSIGHTS: JURISDICTION AND TOP APPLICANT ANALYSIS 79
6.9 ECOSYSTEM MARKET MAP 83
6.10 CASE STUDY ANALYSIS 84
6.10.1 CASE STUDY 1 84
6.10.2 CASE STUDY 2 85
6.11 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 86
6.12 KEY STAKEHOLDERS AND BUYING CRITERIA 86
6.12.1 KEY STAKEHOLDERS IN BUYING PROCESS 86
6.12.2 BUYING CRITERIA 87
7 ASIA PACIFIC PHARMACY AUTOMATION MARKET, BY PRODUCT 88
7.1 INTRODUCTION 89
7.2 AUTOMATED MEDICATION DISPENSING AND STORAGE SYSTEMS 90
7.2.1 AUTOMATED MEDICATION DISPENSING AND STORAGE SYSTEMS, BY TYPE 92
- 7.2.1.1 Robots/Robotic automated dispensing systems 92
- 7.2.1.1.1 Growing need to curtail healthcare costs associated with medication errors to drive segment 92
- 7.2.1.2 Carousels 94
- 7.2.1.2.1 Increasing need for better patient safety and automated pharmacy inventory to drive segment 94
- 7.2.1.3 Automated dispensing cabinets 95
- 7.2.1.3.1 Rising cases of medication errors in healthcare settings to drive segment 95
- 7.2.1.1 Robots/Robotic automated dispensing systems 92
7.2.2 AUTOMATED MEDICATION DISPENSING AND STORAGE SYSTEMS, BY APPLICATION/OPERATION 97
- 7.2.2.1 Centralized pharmacies 97
- 7.2.2.1.1 Rising demand for end-to-end medication dispensing and streamlined workflows to drive segment 97
- 7.2.2.2 Decentralized pharmacies 98
- 7.2.2.2.1 Need for faster and more accurate medication dispensing to drive segment 98
- 7.2.2.1 Centralized pharmacies 97
7.3 AUTOMATED PACKAGING AND LABELING SYSTEMS 99
7.3.1 NEED FOR IMPROVED AND ACCURATE MEDICATION DISPENSING WITH REDUCED LABOR COSTS TO DRIVE SEGMENT 99
7.4 AUTOMATED TABLETOP COUNTERS 101
7.4.1 INCREASING NUMBER OF PATIENT VISITS AND GROWING DEMAND FOR PRESCRIPTION MEDICATIONS TO DRIVE MARKET 101
7.5 AUTOMATED MEDICATION COMPOUNDING SYSTEMS 103
7.5.1 NEED TO REDUCE COST PER DOSE OF MEDICATION AND MEDICATION OUTSOURCING TO DRIVE MARKET 103
7.6 OTHER PHARMACY AUTOMATION SYSTEMS 104
8 ASIA PACIFIC PHARMACY AUTOMATION MARKET, BY END USER 106
8.1 INTRODUCTION 107
8.2 INPATIENT PHARMACIES 107
8.2.1 ACUTE CARE SYSTEMS 110
- 8.2.1.1 Growing investments for improving acute care service quality to drive market 110
8.2.2 LONG-TERM CARE FACILITIES 111
- 8.2.2.1 Increasing patient admissions in long-term care facilities to drive segment 111
8.3 OUTPATIENT PHARMACIES 112
8.3.1 OUTPATIENT/FAST-TRACK CLINICS 114
- 8.3.1.1 Growing need for automated medication dispensing and reduced medication errors to drive market 114
8.3.2 HOSPITAL RETAIL SETTINGS 115
- 8.3.2.1 Need for more accurate medication dispensing and faster inventory management to drive market 115
8.4 RETAIL PHARMACIES 116
8.4.1 INCREASING NEED FOR FASTER PRESCRIPTION FILLING AND BETTER MEDICATION DISPENSING TO DRIVE MARKET 116
8.5 PHARMACY BENEFIT MANAGEMENT ORGANIZATIONS AND MAIL-ORDER PHARMACIES 118
8.5.1 INCREASED NEED TO REDUCE LABOR COSTS FOR MEDICATION PACKAGING AND SUPPLY TO DRIVE MARKET 118
9 ASIA PACIFIC PHARMACY AUTOMATION MARKET, BY COUNTRY 120
9.1 INTRODUCTION 121
9.2 AUSTRALIA 123
9.2.1 GROWING ADVANCED MEDICAL INFRASTRUCTURE AND INCREASING HEALTHCARE EXPENDITURE TO DRIVE MARKET 123
9.3 JAPAN 127
9.3.1 RAPID GROWTH IN GERIATRIC POPULATION WITH INCREASED NUMBER OF CHRONIC DISEASES TO DRIVE MARKET 127
9.4 CHINA 130
9.4.1 GROWING GOVERNMENT INVESTMENTS FOR HEALTHCARE INFRASTRUCTURE DEVELOPMENT TO DRIVE MARKET 130
9.5 INDIA 133
9.5.1 IMPROVING HEALTHCARE INFRASTRUCTURE AND RISING GERIATRIC POPULATION TO DRIVE MARKET 133
9.6 SOUTH KOREA 136
9.6.1 GROWING GERIATRIC POPULATION AND INCREASING PER CAPITA HEALTHCARE EXPENDITURE TO DRIVE MARKET 136
9.7 SINGAPORE 139
9.7.1 IMPROVING HEALTHCARE INFRASTRUCTURE AND RISING ADOPTION OF AUTOMATED PHARMACY SYSTEMS TO DRIVE MARKET 139
9.8 THAILAND 142
9.8.1 RISING ADOPTION OF AUTOMATED SYSTEMS AND ROBOTICS IN HEALTHCARE FACILITIES TO DRIVE MARKET 142
9.9 MALAYSIA 145
9.9.1 INCREASING NEED TO MINIMIZE DISPENSING AND MEDICATION ERRORS TO DRIVE MARKET 145
9.10 HONG KONG 148
9.10.1 INCREASING GERIATRIC POPULATION AND GROWING PREVALENCE OF CHRONIC DISEASES TO DRIVE MARKET 148
9.11 VIETNAM 151
9.11.1 RISING NUMBER OF STRINGENT GOVERNMENT REGULATIONS AND INCREASING GERIATRIC POPULATION TO DRIVE MARKET 151
9.12 PHILIPPINES 154
9.12.1 IMPROVING HEALTHCARE INFRASTRUCTURE AND INCREASING NUMBER OF HOSPITAL ADMISSIONS TO DRIVE MARKET 154
9.13 INDONESIA 157
9.13.1 RAPIDLY INCREASING GERIATRIC POPULATION AND INCREASING NUMBER OF GOVERNMENT INITIATIVES TO DRIVE MARKET 157
9.14 BANGLADESH 160
9.14.1 IMPROVING HEALTHCARE INFRASTRUCTURE AND INCREASING NEED TO REDUCE MEDICATION ERRORS TO DRIVE MARKET 160
9.15 REST OF ASIA PACIFIC 163
10 COMPETITIVE LANDSCAPE 167
10.1 OVERVIEW 167
10.2 STRATEGIES ADOPTED BY KEY MARKET PLAYERS 167
10.3 REVENUE SHARE ANALYSIS OF KEY PLAYERS, 2022 169
10.4 MARKET SHARE ANALYSIS 170
10.5 COMPETITIVE BENCHMARKING 172
10.6 COMPANY FOOTPRINT 174
10.6.1 PRODUCT FOOTPRINT 175
10.6.2 END-USER FOOTPRINT 176
10.7 COMPANY EVALUATION MATRIX 177
10.7.1 STARS 177
10.7.2 EMERGING LEADERS 177
10.7.3 PERVASIVE PLAYERS 177
10.7.4 PARTICIPANTS 178
10.8 COMPETITIVE SCENARIOS AND TRENDS 179
10.8.1 KEY PRODUCT LAUNCHES AND ENHANCEMENTS 179
10.8.2 KEY DEALS 181
10.8.3 OTHER KEY DEVELOPMENTS 183
11 COMPANY PROFILES 184
11.1 KEY PLAYERS 184
11.1.1 BECTON, DICKINSON AND COMPANY 184
11.1.2 YUYAMA CO., LTD 191
11.1.3 OMNICELL, INC 194
11.1.4 KUKA AG 199
11.1.5 TOSHO INC 203
11.1.6 ORACLE 209
11.1.7 TOUCHPOINT MEDICAL, INC 213
11.1.8 TAKAZONO CORPORATION 214
11.1.9 CAPSA HEALTHCARE 215
11.1.10 ARXIUM 221
11.1.11 MCKESSON CORPORATION 223
11.1.12 ATS CORPORATION 226
11.1.13 NIHON CHOUZAI CO., LTD 229
11.1.14 SCRIPTPRO, LLC 231
11.1.15 JVM CO., LTD 233
11.1.16 GETECH 235
11.2 OTHER PLAYERS 236
11.2.1 TENSION CORPORATION 236
11.2.2 MEDITECH PHARMACY MANAGEMENT SOLUTIONS 237
11.2.3 WILLACH GROUP 237
11.2.4 STÄUBLI INTERNATIONAL AG 238
11.2.5 SYSMEX ASIA PACIFIC PTE LTD 238
11.2.6 INFOSYS LIMITED 239
12 APPENDIX 240
12.1 DISCUSSION GUIDE 240
12.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 244
12.3 CUSTOMIZATION OPTIONS 246
12.4 RELATED REPORTS 246
12.5 AUTHOR DETAILS 247