Europe Pharmacy Automation Systems Market Share Archives

Europe Pharmacy Automation Market Demand 2024, Revenue Growth, Challenges, Business Opportunities, Key Players and Forecast Analysis till 2033: SPER Market Research

admin December 3, 2024 Business, Healthcare, Medical Devices, Pharmaceutical

The electronic distribution, sorting, packaging, and counting of prescription drugs is known as pharmacy automation. Among the many benefits of pharmacy automation are increased accuracy, reduced labor costs, and increased efficiency. One of the only methods used when pharmacy automation first gained traction was pill counting. These days, a lot more accessible automation devices are available, such as those that dispense medications, sync records, and comply with regulations. The first portable and digital pill counter marked the beginning of pharmacy automation. The digital pill counter, created by John and Frank Kirby, revolutionized and helped the pharmaceutical industry. Pharmacy proprietors can profit from pharmacy automation in a number of ways, such as enhanced inventory management, better space savings, increased accuracy and speed, and improved narcotics security.

According to SPER Market Research, ‘Europe Pharmacy Automation Market Size- By Product, By Pharmacy Type, By Pharmacy Size, By Application, By End User, By Distribution Channel – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Europe Pharmacy Automation Market is estimated to reach USD XX billion by 2033 with a CAGR XX%.

Drivers: The increased need to reduce medication errors is the primary motivator. The primary cause of death in many nations is medical errors, which also contribute to the rise in hospitalisation rates globally. Prescription errors, dispensing errors, administration problems, transcription errors, prescribing errors, and “across settings” errors are among the many sorts of medication errors that occur in the chain of pharmacological and pharmaceutical patient care. The growing demand for pharmaceuticals is another motivator. The rising prevalence of chronic illnesses including cancer, diabetes, obesity, and asthma, among others, is causing a global increase in the need for medications. Individuals with these illnesses are reliant on the medications that their doctors prescribe for them.

Restraints: Compared to manual procedures, pharmacy automation technologies are more expensive. Adopting pharmacy automation systems in hospitals and pharmacies in underdeveloped countries, as well as small pharmacies worldwide, is challenging due to the considerable capital expenditure required for their installation. Therefore, the low adoption rate of pharmacy automation systems is caused by the large capital expenditure. As a result, it limits the expansion of the market. The FDA, DEA, and EPA also enforce a number of regulations that govern drug delivery methods. Therefore, manufacturers of automated pharmaceutical systems must adhere to a number of rules; doing so is a laborious task that may cause delays in the release of new products. Therefore, the strictness of regulatory processes hinders market expansion.

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Impact of COVID-19 on Europe Pharmacy Automation Market

In Europe, the COVID-19 epidemic had a major effect on the pharmaceutical automation sector. Initially, as pharmacies looked to reduce in-person interactions and speed up prescription processing, the epidemic raised demand for pharmacy automation technologies. However, investments in automation projects were postponed due to economic uncertainty, supply chain interruptions, and limited access to healthcare services. With pharmacists realising the long-term advantages of automation in preserving operational resilience, interest was rekindled as healthcare systems adjusted to the epidemic. The market’s recovery and continued expansion are impacted by Europe’s growing requirement for safe and effective pharmacy operations as well as ongoing healthcare issues.

Europe Pharmacy Automation Market Key Players:

Germany dominated the Europe Pharmacy Automation Market due to the rise in technological advancement in the market. Major players in the market are AmerisourceBergen Corporation, Asteres Inc., Capsa Healthcare, Cerner Corporation, Deenova S.r.l.

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Europe Pharmacy Automation Market Share

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Europe Pharmacy Automation Systems Market Growth 2023-Share, Upcoming Trend, Growing CAGR, Future Challenges, Business Opportunities and Forecast Analysis Report 2023-2033: SPER Market Research

admin August 29, 2023 Business, Pharmaceutical

It involves using technology and automated processes to accelerate a variety of pharmaceutical procedures such as labelling, inventory management, and prescription fulfilment. Some of the industry’s drivers include the goal to reduce prescription errors, increase efficiency, and improve patient safety. Furthermore, the expanding use of electronic health information and the demand for personalized treatment both boost market growth. The market is also being driven by advancements in robotics, artificial intelligence, and machine learning, which enable pharmacies to optimize their procedures and provide better healthcare services. As the healthcare industry embraces digital transformation, the market for pharmacy automation is expected to expand.

According to SPER market research, ‘Europe Pharmacy Automation Market Size-By Product, By Pharmacy Type, By Pharmacy Size, By Application, By End User, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Europe Pharmacy Automation Market is predicted to reach USD XX billion by 2033 with a CAGR of XX%.

Several major factors are propelling the European pharmacy automation market. Pharmacy automation systems eliminate pharmaceutical errors and improve patient safety by automating activities such as prescription filling, dispensing, and labelling. The greater emphasis on patient safety is driving the adoption of automation technologies in pharmacies across Europe. Because of the increased demand for healthcare services, pharmacy operations must become more effective and simplified. Automation technologies assist pharmacies in properly handling increased demand by improving workflow, reducing wait times, and improving overall operational efficiency.

The industry for pharmacy automation in Europe is facing a number of challenges. These challenges involve a considerable upfront cost. The initial cost of implementing a pharmacy automation system may be high because it calls for the purchase of the appropriate hardware, software, and infrastructure. The high upfront cost can be a barrier for smaller pharmacies or those with limited resources. Integrating pharmacy automation technologies with existing pharmacy practices, electronic health records (EHRs), and other medical systems can be difficult. The seamless data transfer and interoperability of different software platforms and technologies can be challenging, and this calls for focused resources for implementation and maintenance.

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Impact of COVID-19 on Europe Pharmacy Automation Market

The COVID-19 outbreak has had a substantial influence on the European pharmacy automation sector. Because of the crisis, there is a greater demand for effective, frictionless healthcare services, which is prompting pharmacies to use automation technologies. Automated prescription filling, dispensing, and inventory management systems are now required to ensure a consistent supply of pharmaceuticals while minimizing direct patient-pharmacist contact. The epidemic has enhanced the need for pharmacy automation systems by emphasizing the importance of reducing prescription mistakes and improving patient safety. The shift toward digital health and remote patient care has further pushed the adoption of automation technology, priming the market for significant growth in the post-pandemic future.

Europe Pharmacy Automation Market Key Players:

Geographically, The Europe Pharmacy Automation market is characterized by a variety of regional trends that drive its growth and development. Because of their well-established healthcare infrastructure, significant healthcare expenditure, and advanced technology landscape, Western European countries such as Germany, France, and the United Kingdom are leading in the adoption of pharmacy automation technologies . Additionally, some of the market key players are AmerisourceBergen Corporation, Asteres Inc., Capsa Healthcare, Cerner Corporation, Deenova S.r.l., Demodeks Pharmacy Shelving, Fullscript, Innovation Associate, InterLink AI, Inc., KLS Pharma Robotics GmbH, McKesson Corporation, MedAvail Technologies, Inc., Omnicell, Inc., RxSafe, LLC, ScriptPro LLC, Synergy Medical.

Europe Pharmacy Automation Market Segmentation:

By Product: Based on the Product, Europe Pharmacy Automation Market is segmented as; Services, Software, System.

By Pharmacy Type: Based on the Pharmacy Type, Europe Pharmacy Automation Market is segmented as; Chain, Federal, Independent.

By Pharmacy Size: Based on the Pharmacy Size, Europe Pharmacy Automation Market is segmented as; Large Size Pharmacy, Medium Size Pharmacy, Small Size Pharmacy.

By Application: Based on the Application, Europe Pharmacy Automation Market is segmented as; Drug Dispensing and Packaging, Drug Storage, Inventory Management.

By End User: Based on the End User, Europe Pharmacy Automation Market is segmented as; Central Fill/Mail Order Pharmacies, Inpatient Pharmacies, Online Pharmacies, Outpatient Pharmacies, Pharmacy Benefit Management Organizations, Retail Pharmacies, Others.

By Distribution Channel: Based on the Distribution Channel, Europe Pharmacy Automation Market is segmented as; Direct Tender, Third Party Distributor.

By Region: This report also provides the data for key regional segments of Belgium, France, Germany, Italy, Netherlands, Russia, Spain, Switzerland, Turkey, U.K., Rest of Europe.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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Europe Pharmacy Automation Market Future Opportunity

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Europe Pharmacy Automation Systems Market Growth 2023-Share, Future Challenges, Business Opportunities, Upcoming Trends and Forecast Analysis Report 2023-2033: SPER Market Research

admin June 7, 2023 Business, Pharmaceutical

Recently, there has been a noticeable increase in the market for pharmacy automation. It entails the application of technology and automated systems to different activities within a pharmacy, including labelling, inventory management, prescription filling, and medicine dispensing. Factors like the need to lower medication errors, increase efficiency, and improve patient safety are what are driving the industry. Growing adoption of electronic health records and the demand for tailored medication are additional factors driving market expansion. Robotics, AI, and machine learning developments are driving the market even more and enabling pharmacies to streamline their processes and deliver better healthcare services. The healthcare sector’s adoption of digital transformation is predicted to drive the pharmacy automation market’s growth.

According to SPER Market Research, ‘Europe Pharmacy Automation Market Size- By Product, By Pharmacy Type, By Pharmacy Size, By Application, End User, By Distribution Channel – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Europe Pharmacy Automation Market is predicted to reach USD XX billion by 2033 with a CAGR of XX%.

The Europe Pharmacy Automation market is predicted to expand significantly due to several important factors. Automation technologies that are always improving, such as robotics, artificial intelligence, and machine learning, offer improved features and capabilities in pharmacy automation systems. These developments help pharmacies automate difficult processes, enhance inventory control, and offer individualized medication services, all of which contribute to the industry’s expansion. Pharmacies are not exempt from the digital change taking place in the European healthcare sector. Electronic health records (EHRs) and other digital platforms are integrated with automation systems, enabling frictionless data interchange and enhancing overall healthcare coordination. The expansion of the pharmacy automation market in Europe is aided by this integration.

However, numerous obstacles are preventing the pharmacy automation sector in Europe from expanding and becoming widely used. To guarantee smooth functioning, pharmacy automation systems need regular maintenance, updates, and technical assistance. It might be difficult to locate qualified employees for system maintenance and troubleshooting, particularly for smaller pharmacies or those located in remote locations. Every pharmacy has different needs and procedures. It is critical to guarantee that pharmacy automation systems may be modified and scaled to satisfy specific pharmacy requirements. For system suppliers, it might be difficult to provide scalable, adaptable solutions that can handle various pharmacy sizes and operational difficulties.

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The market for pharmacy automation in Europe has been significantly impacted by the COVID-19 pandemic. The crisis has increased the demand for effective, frictionless healthcare services, spurring pharmacies to employ automated technologies. In order to guarantee continuous medicine supply and minimize physical contact between pharmacy workers and patients, automated prescription filling, dispensing, and inventory management systems are now essential. The epidemic has also emphasized the significance of reducing pharmaceutical errors and enhancing patient safety, further pushing the demand for pharmacy automation systems. The use of automation technology has been further spurred by the move towards digital health and remote patient care, preparing the market for significant development in the post-pandemic future.

Furthermore, as technology continues to improve, Germany is predicted to rule the continent of Europe. In addition, some of the market key players are AmerisourceBergen Corporation, Asteres Inc., Capsa Healthcare, Cerner Corporation, ScriptPro LLC, TOSHO Inc., Universal Logistics Holdings, Inc, Yuyama.