Report : Middle East and Africa Pharmacy Automation Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Automated Medication Dispensing Systems, Automated Packaging & Labeling Systems, Automated Storage & Retrieval Systems, Automated Compounding Devices, and Tabletop Tablet Counters) and End User (Hospital Pharmacy, Retail Pharmacy, and Others)
The automated compounding devices segment by type is estimated to lead the market growth during the forecast period.
According to a new market research study of “Middle East and Africa Pharmacy Automation Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Type, End User and Country.” The Middle East and Africa pharmacy automation equipment market is expected to reach US$ 226.21 million by 2028 from US$ 134.59 million in 2020; it is estimated to grow at a CAGR of 6.7% from 2021 to 2028. The report highlights trends prevailing in the Middle East and Africa pharmacy automation equipment market and the factors driving market along with those that act as hindrances.
The Middle East and Africa pharmacy automation equipment market, by type, is segmented into automated medication dispensing systems, automated packaging & labeling systems, automated storage & retrieval systems, automated compounding devices, and tabletop tablet counters. The automated medication dispensing systems segment held the largest share of the market in 2020, whereas the automated compounding devices segment is anticipated to register the highest CAGR in the market during the forecast period.
According to estimates by United Nations report 2019, the number of geriatric persons (60+) is expected to double by 2050 in Middle East. The demand for healthcare services is increasing in the region owing to surging geriatric population and increasing prevalence of chronic diseases. Therefore, hospitals are struggling to keep up owing to the labour shortages. Pharmacy and nursing staff require modern technology tools to perform their jobs efficiently without compromising on patient safety or care quality. The automated medication dispensing systems reduce workloads and add a higher level of security, tracking, and accountability. Also, the companies operating in the pharmaceutical market are adopting organic and inorganic growth strategies to increase their market share across Middle East and Africa. In addition, artificial intelligence (AI) and machine learning (ML) are also providing exciting opportunities for the pharmacy automation equipment market. Technological advancements and integration of AI are expected to drive the adoption of pharmacy automation equipment during the forecast period.
The COVID-19 outbreak has shown substantial effects on Middle East and Africa. The region has recorded an increasing number of COVID-19 patients who are being admitted to intensive care units (ICU). Also, the rising number of medications are imposing multiple diagnostic and therapeutic challenges on stressed healthcare systems and is leading to rise in medication errors. Thus, rising ICU admissions during the outbreak are boosting the growth of the pharmacy automatic equipment market in Middle East and Africa.
The market growth is attributed to the factors such as increasing demand for upgraded healthcare services and rising technological developments in automation equipment. However, the reluctance to adopt pharmacy automation systems by healthcare professionals is expected to be restrain the market growth.
Talyst LLC (Swisslog Healthcare), Baxter International Inc., Capsa Healthcare, OMNICELL INC., Cerner Corporation, MCKESSON CORPORATION, and BD are among the leading companies operating in the Europe pharmacy automation equipment market.
The report segments in Middle East and Africa Pharmacy Automation Equipment Market as follows:
- Automated Medication Dispensing Systems
- Automated Packaging & Labeling Systems
- Automated Storage & Retrieval Systems
- Automated Compounding Devices
- Tabletop Tablet Counters
By End User
- Hospital Pharmacy
- Retail Pharmacy
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Contact Person: Sameer Joshi
Email Id: firstname.lastname@example.org