UAE Pharmacy Automation Device Market Report 2023 to 2030

UAE Pharmacy Automation Device Market Analysis

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The UAE Pharmacy Automation Device Market was valued at $27.5 Mn in 2023 and is predicted to grow at a CAGR of 10.9% from 2023 to 2030, to $56.7 Mn by 2030. UAE Pharmacy Automation Device Market is growing due to Increasing Healthcare Expenditure, Rising Medication Errors, Technological Advancements. The market is primarily dominated by players such as Amerisource Bergen Corporation, Accu-Chart Plus Healthcare Systems, Omnicell, Inc., McKesson Corporation; Pearson Medical Technologies, Baxter.

ID: IN10AEMD014 CATEGORY: Medical Devices GEOGRAPHY: UAE AUTHOR: Najib Shaikh

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UAE Pharmacy Automation Device Market Executive Summary

UAE Pharmacy Automation Device Market is at around $27.5 Mn in 2023 and is projected to reach $56.7 Mn in 2030, exhibiting a CAGR of 10.9% during the forecast period.

Pharmacy automation makes it easier to provide and administer prescription medications in both hospital and retail settings, which is a key component of modern healthcare. Medication mistakes are decreased in pharmacies by automation. Using a manual approach prevents errors related to medication errors, missing patient data, pharmaceutical data, formulation dispensing, therapy tracking, and other problems. Prescription error reduction will guarantee patient safety, enhance healthcare facilities and services, and save costs. Because of this, reducing errors in inventory, retrieval, consumption, and storage requires the deployment of a pharmacy automation system. Pharmacy automation is a perfectly acceptable and advantageous way to improve the accuracy and efficiency of pharmacies.

In UAE, the adoption rate of pharmacy automation devices is steadily increasing, driven by a push for greater healthcare efficiency and safety. These devices can improve accuracy and efficiency by up to 90%, significantly reducing medication errors and dispensing times. Several companies and startups are involved in this market, including Omnicell, BD Rowa, and local players like PharmaTech and Meditech. This trend is supported by the UAE investment in advanced healthcare infrastructure and technology, aiming to enhance the overall quality of healthcare services in the region. The market, therefore, is driven by significant factors like Increasing Healthcare Expenditure, Rising Medication Errors, Technological Advancements. However, Complexity and Integration Issues, High Costs, Resistance to Change restrict the growth and potential of the market.

Baxter announced that it had received authorization from the Common Vulnerability and Exposures (CVE) program to be a CVE Numbering Authority.

UAE Pharmacy Automation Device Market Report 2023 to 2030

Market Dynamics

Market Growth Drivers

Increasing Healthcare Expenditure: Due to expenditures made in healthcare services and infrastructure by the public and private sectors, healthcare spending in the United Arab Emirates has been expanding steadily over the last five years, with an annual growth rate of 8.2%. A greater emphasis is being placed on increasing efficiency and cutting costs as the healthcare system grows to accommodate the demands of an expanding population. By minimizing errors, improving inventory control, and expediting the pharmaceutical dispensing process, pharmacy automation systems are essential to reaching these objectives. In addition to improving patient safety and satisfaction, this efficiency enables pharmacies to run more profitably in a cutthroat industry.

Rising Medication Errors: Many factors contribute to these errors, such as communication gaps between doctors and pharmacists, improper storage practices, and look-alike drug confusion. Any mistakes in dispensing medication - wrong dose, wrong drug, wrong labeling - fall under this umbrella. These errors can also occur during the preparation, packaging, or storage of medications before they reach patients. Inaccurate or unclear instructions further add to the risk. Pharmacy automation offers a promising solution by reducing human error and ensuring medication accuracy throughout the entire process.

Technological Advancements: A tech revolution is surging through pharmacies, with advanced automation systems becoming increasingly common. These high-tech marvels combine robotics, smart software powered by AI, and the Internet of Things (IoT) to streamline operations and ensure medication accuracy. Studies show that automation can reduce medication dispensing errors by up to 85%. This translates to several advantages for pharmacies: a sharper competitive edge (as efficiency improves), smoother compliance with regulations (due to fewer errors), and the ability to deliver the high-quality, safe healthcare that patients now expect (with improved accuracy). With this potential to significantly boost patient safety, pharmacy automation is poised to transform the industry.

Market Restraints

Complexity and Integration Issues: 67% of pharmacists report having difficulty incorporating new technology into their current workflows. Many pharmacies may lack the technological know-how needed for these integrations, which could cause problems with day-to-day operations. Moreover, pharmacies may be reluctant to implement automation technology due to concerns about operational outages or system failures during the integration phase. The operational complexity of these integrated systems is increased by the difficulty of controlling and maintaining them, which may prevent their broad application. It can be difficult and time-consuming to integrate pharmacy automation technologies with current pharmacy management systems and electronic health records (EHRs).

High Cost: National Community Pharmacists Association (NCPA) found that over 55% of independent pharmacies consider the cost to be the biggest obstacle to adopting automation [source needed]. This financial burden extends beyond the initial purchase, as ongoing maintenance and potential upgrades add to the long-term expense. For regions with tight healthcare budgets or economic limitations, the high upfront investment can be simply out of reach, further limiting the spread of this technology.

Resistance to Change: Some pharmacy staff may be hesitant to embrace automation. This resistance can be due to several factors: fear of job displacement, discomfort with new technology, or even doubts about the reliability and benefits of automation itself. Overcoming these hurdles requires well-designed change management programs and comprehensive training initiatives. However, these programs take time and resources to implement. Without the buy-in and confidence of the pharmacy staff, even the most advanced automation systems can end up gathering dust in the corner. This cultural shift within pharmacies is a significant barrier that needs to be addressed for widespread adoption to occur.

Regulatory Landscape

The regulatory landscape for the pharmacy automation device market in the UAE is governed by the Ministry of Health and Prevention (MOHAP) and the Dubai Health Authority (DHA). These bodies ensure compliance with stringent standards for safety, efficacy, and quality. The UAE has been proactive in integrating advanced healthcare technologies, reflecting in its regulatory framework which supports innovation while maintaining strict control over medical devices. The registration process involves rigorous evaluation and adherence to international guidelines, such as those from the FDA and EU. Additionally, there are initiatives to streamline approvals and encourage investment in healthcare technology, positioning the UAE as a leading hub for advanced pharmaceutical solutions in the region.

Competitive Landscape

Key Players

Here are some of the major key players in UAE Pharmacy Automation Device Market:

Amerisource Bergen Corporation
Accu-Chart Plus Healthcare Systems, Inc.
Omnicell, Inc.
McKesson Corporation
Pearson Medical Technologies
Baxter
Talyst, LLC
Scriptpro LLC
Becton Dickinson and Company
Fulcrum Pharmacy Management, Inc.
Medacist Solutions Group, LLC
Aesynt, Inc
Capsa Healthcare
Cerner Oracle
ARxIUM
Touchpoint Medical
Swisslog Healthcare

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

UAE Pharmacy Automation Device Market Segmentation

Based on Product

Automated Medication Dispensing Systems
Automated Packaging and Labeling Systems
Automated Table-Top Counters
Automated Storage and Retrieval Systems
Other Pharmacy Automation Systems

Based on Pharmacy Type

Independent
Chain
Federal

Based on Pharmacy Size

Large Size Pharmacy
Medium Size Pharmacy
Small Size Pharmacy

Based on Application

Drug Dispensing and Packaging
Drug Storage
Inventory Management

Based on End-user

Retail Pharmacy
Inpatient Pharmacies
Outpatient Pharmacies
Online Pharmacy

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.