Any task that uses technology to manage and distribute medications is referred to as pharmacy automation. Among automation, robotics and pill counters are the most widely used. It helps pharmacies to minimize error risk and streamline workflows. One of its common advantages is that it increases prescription volume and effectiveness.
According to SPER market research, ‘Europe Pharmacy Automation System Market Size- By Product, By Pharmacy Type, By Pharmacy Size, By Application, By End User, By Distribution Channel -Regional Outlook, Competitive Strategies and Segment Forecasts to 2033 – state that Europe Pharmacy Automation System Market is predicted to reach USD XX billion by 2033 with a CAGR of XX%.
Technological advancements in robotics, artificial intelligence, and machine learning are propelling the market as they allow pharmacies to improve healthcare services and optimize their operations. It is projected that the market for pharmacy automation will continue to expand as the healthcare industry embraces digital transformation. Pharmacy operations must be streamlined and made more efficient due to the growing demand for healthcare services. Pharmacies can more effectively handle rising demand by implementing automation technologies, which improve workflow, decrease wait times, and increase overall operational efficiency. Regulatory compliance, growing prescription volumes, patient safety, the need for efficient healthcare services, technological advancements, and the general trend of digital transformation in healthcare are the main factors driving the pharmacy automation market in Europe.
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The pharmacy automation market in Europe is facing several challenges that are impeding its growth and widespread adoption. Among these challenges is a substantial upfront cost. The initial cost of implementing a pharmacy automation system may be high since it necessitates purchasing the infrastructure, software, and equipment. A financial barrier for smaller pharmacies or those with limited resources could be the high upfront cost. Integrating pharmacy automation systems with electronic health records (EHRs), other medical systems, and current pharmacy procedures can be difficult. Ensuring seamless data transfer and compatibility among diverse software platforms and technologies can be challenging, necessitating dedicated resources for both implementation and maintenance.
Impact of COVID-19 on Europe Pharmacy Automation Market
The COVID-19 pandemic has had a major effect on the pharmacy automation market in Europe. Pharmacy businesses are being forced to use automation technologies as a result of the crisis’ increased demand for efficient, frictionless healthcare services. In order to minimize direct patient-pharmacist interaction and maintain a consistent supply of medications, automated prescription filling, dispensing, and inventory management systems are now necessary. The epidemic has brought attention to how important it is to lower medication errors and improve patient safety, which has further increased the need for pharmacy automation systems. The trend toward digital health and remote patient care has further boosted the use of automation technology, setting the market up for substantial growth in the years following the pandemic.
Europe Pharmacy Automation Market Key Players:
Germany, France, Italy, Spain, the Netherlands, Russia, Switzerland, Belgium, Turkey, and the rest of Europe are the nations included in this market report. Germany is predicted to lead the European continent in 2023 as a result of the market’s increased technological advancement. Regulatory acts, import-export tariffs, country demographics, new sales, replacement sales, and other data points are some of the key indicators used to forecast the market scenario for specific countries. In addition, Asteres Inc., Capsa Healthcare, Cerner Corporation, Deenova S.r.l., Demodeks Pharmacy, and AmerisourceBergen Corporation Holding some of the major players in the market
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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