Singapore Pharmacy Automation Devices Market Size & Outlook
Singapore pharmacy automation devices market, 2018-2030 (US$M)
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Singapore pharmacy automation devices market highlights
- The Singapore pharmacy automation devices market generated a revenue of USD 86.0 million in 2023 and is expected to reach USD 175.8 million by 2030.
- The Singapore market is expected to grow at a CAGR of 10.8% from 2024 to 2030.
- In terms of segment, medication dispensing systems was the largest revenue generating product in 2023.
- Automated Medication Compounding Systems is the most lucrative product segment registering the fastest growth during the forecast period.
Pharmacy automation devices market data book summary
| Market revenue in 2023 | USD 86.0 million |
| Market revenue in 2030 | USD 175.8 million |
| Growth rate | 10.8% (CAGR from 2023 to 2030) |
| Largest segment | Medication dispensing systems |
| Fastest growing segment | Automated Medication Compounding Systems |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Packaging And Labeling Systems, Storage And Retrieval Systems, Automated Medication Compounding Systems, Tabletop Tablet Counters, Medication Dispensing Systems |
| Key market players worldwide | AmerisourceBergen Drug Corporation, Accu-Chart Plus Healthcare Systems, Omnicell Inc, McKesson Corp, Pearson Medical Technologies, Baxter International Inc, Swisslog, Health Robotics S.R.L, Becton Dickinson & Co, Kirby Lester, Oracle Corp, ARxIUM, Deenova, ScriptPro, Fulcrum Therapeutics, Medacist, IA Medical, TouchPoint Medical |
Other key industry trends
- In terms of revenue, Singapore accounted for 1.4% of the global pharmacy automation devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China pharmacy automation devices market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 580.8 million by 2030.
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Pharmacy Automation Devices Market Scope
Pharmacy Automation Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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Singapore pharmacy automation devices market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to pharmacy automation devices market will help companies and investors design strategic landscapes.
Medication dispensing systems was the largest segment with a revenue share of 23.26% in 2023. Horizon Databook has segmented the Singapore pharmacy automation devices market based on packaging and labeling systems, storage and retrieval systems, automated medication compounding systems, tabletop tablet counters, medication dispensing systems covering the revenue growth of each sub-segment from 2018 to 2030.
The ongoing COVID-19 pandemic coupled with rising need to minimize medication errors, increasing awareness among pharmacists, rising labor cost, growing geriatric population, rapid decentralization of pharmacies, and cost reduction measures by healthcare professionals are factors expected to boost market growth.
Moreover, increasing adoption of pharmacy automation for decreasing costs, automating time consuming tasks (including storage & retrieval to achieve greater efficiency, dispensing, medication packaging), and streamlining workflows are factors boosting market growth in the country.
For instance, in May 2017, Tan Tock Seng Hospital implemented Outpatient Pharmacy Automation System (OPAS) robotics solutions to reduce pharmacy waiting times while easing loads on pharmacists by automating 80% of medication dispensing.
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Our clientele includes a mix of pharmacy automation devices market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Singapore pharmacy automation devices market , including forecasts for subscribers. This country databook contains high-level insights into Singapore pharmacy automation devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Singapore pharmacy automation devices market size, by product, 2018-2030 (US$M)
Singapore Pharmacy Automation Devices Market Outlook Share, 2023 & 2030 (US$M)
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