At 8.5% CAGR, the South & Central America Pharmacy Automation Systems Market is Projected to be worth US$ 647.28 million by 2030, says Business Market Insights

According to Business Market Insights research, the South & Central America pharmacy automation systems market was valued at US$ 335.86 million in 2022 and is expected to reach US$ 647.28 million by 2030, registering a CAGR of 8.5% from 2022 to 2030. Artificial Intelligence (AI) in the pharmacy sector is among the critical factor attributed to the South & Central America pharmacy automation systems market expansion.

Artificial intelligence (AI) has brought a significant evolution in the healthcare sector. AI complements the deployment of robotics in drug and medicine businesses. In addition, it has the potential to assist pharmacists and clinical personnel in identifying problems such as potentially harmful drug interactions, cross-verifying patient data, drug-disease contraindications, drug-drug interactions, improper dosages, and repetition of drug therapies more effectively than ever. In addition to solving these problems, AI can provide real-time guidance when prescribing medicine, dispensing, and administering medicine. Moreover, AI would help provide personalized medicines to patients, aiding in pharmacy management. AI in medicine dispensing will enhance the efficiency of automated dispensing cabinets, pill dispensers, and their features, such as alarm modules, speakers, and other features. Thus, AI has the capability to reduce pharmacists' efforts in medicine dispensing, allowing them to focus more on patient care.

On the contrary, high capitalization cost and problems associated with pharmacy automation systems hampers the growth of South & Central America pharmacy automation systems market.

Based on type, the South & Central America pharmacy automation systems market is categorized into automation medication dispensing systems (product type and operation), automated packaging and labelling systems, automated table-top counters, automated storage and retrieval systems, and other types. The automation medication dispensing systems segment held 36.3% market share in 2022, amassing US$ 121.85 million. It is projected to garner US$ 244.40 million by 2030 to expand at 9.1% CAGR during 2022-2030.

Based on end user, the South & Central America pharmacy automation systems market is categorized into hospital pharmacy, retail pharmacy, and others. The hospital pharmacy segment held 58.0% share of South & Central America pharmacy automation systems market in 2022, amassing US$ 194.76 million. It is projected to garner US$ 386.28 million by 2030 to expand at 8.9% CAGR during 2022-2030.

Based on country, the South & Central America pharmacy automation systems market has been categorized into Brazil, Chile, and the Rest of South & Central America. Our regional analysis states that Brazil captured 68.5% share of South & Central America pharmacy automation systems market in 2022. It was assessed at US$ 230.18 million in 2022 and is likely to hit US$ 453.64 million by 2030, exhibiting a CAGR of 8.9% during 2022-2030.

Key players operating in the South & Central America pharmacy automation systems market are Becton Dickinson and Co, Capsa Solutions LLC, Omnicell Inc, Oracle Corp, and Swisslog Healthcare AG, among others.

- In July 2019, Cerner and CoverMyMeds Collaborated to Improve Prescription Price Transparency within the EHR.

- In June 2022, BD to acquired Parata systems to enter new pharmacy automation solutions market.



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