Europe 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)
Market Introduction
The pharmacy automation involves mechanization of tasks and processes performed in pharmacy or other health care settings. The objective is to reduce errors in medical prescriptions and optimize patient safety. Also, automation systems can help pharmacies streamline the workflow, reduce the risk of mistakes, and improve direct patient-care activities.
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Market Overview and Dynamics
The Europe pharmacy automation equipment market is expected to reach US$ 2,445.05 million by 2028 from US$ 1,474.07 million in 2021; it is estimated to grow at a CAGR of 7.5% from 2021 to 2028. The market growth is attributed to the key factors such as increasing demand for upgraded healthcare services and rising technological developments in automation equipment. However, the concerns regarding data privacy with automated dispensing systems is expected to be restrain the market growth.
The pharmacy automation involves the mechanization of tasks and processes performed in pharmacy or other health care settings. The objective is to reduce errors in medical prescriptions and optimize patient safety. As per the “Later Life in the United Kingdom 2019” report, there are around 12 million people in the UK aged 65 years and above, of which 5.4 million people are aged 75 years and above, ~1.6 million are aged 85+ years, and over 500,000 people are 90+ years. The demand for healthcare services is increasing in the region owing to the surging geriatric population and increasing prevalence of chronic diseases. Therefore, hospitals are struggling to keep up owing to the labor 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 Europe. Apart from this, 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.
COVID-19 pandemic has adversely affected European countries. Patients hospitalized for COVID-19 are at a risk for medication error. Various companies have shut down their productions owing to local restrictions in countries. They are revaluating their strategies, risk tolerance, and overall network footprint to address these risks. For instance, in February 2020, Geisinger partnered with Omnicell for automated medication dispensing that will help to drive clinical and operational efficiency, increase medication safety, and reduce costs, ultimately supporting enhanced patient care. Thus, the above-mentioned factor is likely to boost the growth of the Europe pharmacy automation equipment market in coming years. Hence, the impact of the COVID-19 pandemic on the market is positive.
Key Market Segments
The Europe 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.
By end user, the Europe pharmacy automation equipment market is segmented into hospital pharmacy, retail pharmacy, and others. The hospital pharmacy segment held the largest share of the market in 2020, whereas the retail pharmacy segment is estimated to register the highest CAGR in the market during the forecast period.
Major Sources and Companies Listed
A few of the primary and secondary sources associated with this report on the Europe pharmacy automation equipment market are European Union (EU), UK National Health Service (NHS) and Ministry of Health and Social Services (MoHSS).
Reasons to buy the report
- Determine prospective investment areas based on a detailed trend analysis Europe pharmacy automation equipment market over the next years.
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- Strengthen your knowledge of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
- Identify the major channels driving the Europe pharmacy automation equipment market, providing a clear picture of future opportunities that will help analyze, resulting in revenue expansion.
- Channelize resources by focusing on the ongoing programs undertaken by the different countries within the Europe pharmacy automation equipment market.
EUROPE PHARMACY AUTOMATION EQUIPMENT MARKET SEGMENTATION
By Type
- 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
- Others
By Country
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
Company Profiles
- AmerisourceBergen
- Baxter International Inc.
- Capsa Healthcare
- OMNICELL INC.
- Cerner Corporation
- MCKESSON CORPORATION
- BD
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Pharmacy Automation Equipment Market – By Type
1.3.2 Europe Pharmacy Automation Equipment Market – By End User
1.3.3 Europe Pharmacy Automation Equipment Market– By Country
2. Pharmacy Automation Equipment Market– Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Global Pharmacy Automation Equipment Market– Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Europe PEST Analysis
4.3 Expert Opinion
5. Pharmacy Automation Equipment Market– Industry Dynamics
5.1 Market Drivers
5.1.1 Increasing Medication Errors
5.1.2 Increasing Demand for Healthcare Services
5.2 Market Restraints
5.2.1 Problems Associated with Automated Dispensing Systems
5.3 Future Trends
5.3.1 Technological Developments
5.4 Impact Analysis
6. Pharmacy Automation Equipment Market– Europe Analysis
6.1 Europe Pharmacy Automation Equipment Market Revenue Forecast and Analysis
7. Pharmacy Automation Equipment Market Analysis – By Type
7.1 Overview
7.2 Pharmacy Automation Equipment Market Revenue Share, by Type (2020 and 2028)
7.3 Automated Medication Dispensing Systems
7.3.1 Overview
7.3.2 Automated Medication Dispensing Systems: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Automated Storage & Retrieval Systems
7.4.1 Overview
7.4.2 Automated Storage & Retrieval Systems: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Automated Packaging & Labelling Systems
7.5.1 Overview
7.5.2 Automated Packaging & Labelling Systems: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Tabletop Tablet Counters
7.6.1 Overview
7.6.2 Tabletop Tablet Counters: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (US$ Million)
7.7 Automated Compounding Devices
7.7.1 Overview
7.7.2 Automated Compounding Devices: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (US$ Million)
8. Pharmacy Automation Equipment Market – By End-User
8.1 Overview
8.2 Pharmacy Automation Equipment Market, by End-User, 2020 and 2028 (%)
8.3 Hospital Pharmacy
8.3.1 Overview
8.3.2 Hospital Pharmacy: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028(US$ Million)
8.4 Retail Pharmacy
8.4.1 Overview
8.4.2 Retail Pharmacy: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9. Pharmacy Automation Equipment Market Analysis and Forecasts To 2028 – Europe Analysis
9.1 Europe: Pharmacy Automation Equipment Market
9.1.1 Overview
9.1.2 Europe: Pharmacy Automation Equipment Market, by Country, 2020 & 2028(%)
9.1.3 Germany: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
9.1.3.1 Germany: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
9.1.3.2 Germany: Pharmacy Automation Equipment Market, by Type – Revenue and Forecast to 2028 (USD Million)
9.1.3.3 Germany: Pharmacy Automation Equipment Market, End User – Revenue and Forecast to 2028 (USD Million)
9.1.4 France: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
9.1.4.1 France: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
9.1.4.2 France: Pharmacy Automation Equipment Market, by Type – Revenue and Forecast to 2028 (USD Million)
9.1.4.3 France: Pharmacy Automation Equipment Market, End User – Revenue and Forecast to 2028 (USD Million)
9.1.5 UK: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
9.1.5.1 UK: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
9.1.5.2 UK: Pharmacy Automation Equipment Market, by Type – Revenue and Forecast to 2028 (USD Million)
9.1.5.3 UK: Pharmacy Automation Equipment Market, End User – Revenue and Forecast to 2028 (USD Million)
9.1.6 Italy: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
9.1.6.1 Italy: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
9.1.6.2 Italy: Pharmacy Automation Equipment Market, by Type – Revenue and Forecast to 2028 (USD Million)
9.1.6.3 Italy: Pharmacy Automation Equipment Market, End User – Revenue and Forecast to 2028 (USD Million)
9.1.7 Spain: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
9.1.7.1 Spain: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
9.1.7.2 Spain: Pharmacy Automation Equipment Market, by Type – Revenue and Forecast to 2028 (USD Million)
9.1.7.3 Spain: Pharmacy Automation Equipment Market, End User – Revenue and Forecast to 2028 (USD Million)
9.1.8 Rest of Europe: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
9.1.8.1 Rest of Europe: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
9.1.8.2 Rest of Europe: Pharmacy Automation Equipment Market, by Type – Revenue and Forecast to 2028 (USD Million)
9.1.8.3 Rest of Europe: Pharmacy Automation Equipment Market, by End User – Revenue and Forecast to 2028 (USD Million)
10. Impact Of COVID-19 Pandemic on Europe Pharmacy Automation Equipment Market
10.1 Europe: Impact Assessment of COVID-19 Pandemic
11. Pharmacy Automation Equipment Market– Industry Landscape
11.1 Overview
11.2 Organic Developments
11.2.1 Overview
11.3 Inorganic Developments
11.3.1 Overview
12. Company Profiles
12.1 AmerisourceBergen
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Baxter International Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Capsa Healthcare
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 OMNICELL INC.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Cerner Corporation
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 MCKESSON CORPORATION
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4
12.6.5 Financial Overview
12.6.6 SWOT Analysis
12.6.7 Key Developments
12.7 BD
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 About the Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. Germany: Pharmacy Automation Equipment Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 2. Germany: Pharmacy Automation Equipment Market, End User – Revenue and Forecast to 2028 (USD Million)
Table 3. France: Pharmacy Automation Equipment Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 4. France: Pharmacy Automation Equipment Market, End User – Revenue and Forecast to 2028 (USD Million)
Table 5. UK: Pharmacy Automation Equipment Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 6. UK: Pharmacy Automation Equipment Market, End User – Revenue and Forecast to 2028 (USD Million)
Table 7. Italy: Pharmacy Automation Equipment Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 8. Italy: Pharmacy Automation Equipment Market, End User – Revenue and Forecast to 2028 (USD Million)
Table 9. Spain: Pharmacy Automation Equipment Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 10. Spain: Pharmacy Automation Equipment Market, End User – Revenue and Forecast to 2028 (USD Million)
Table 11. Rest of Europe: Pharmacy Automation Equipment Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 12. Rest of Europe: Pharmacy Automation Equipment Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 13. Organic Developments Done by Companies
Table 14. Inorganic Developments Done by Companies
Table 15. Glossary of Terms, Pharmacy Automation Equipment Market
LIST OF FIGURES
Figure 1. Pharmacy Automation Equipment Market Segmentation
Figure 2. Pharmacy Automation Equipment Segmentation, By Country
Figure 3. Europe Pharmacy Automation Equipment Market Overview
Figure 4. Automated Medication Dispensing Systems Held Largest Share of Type Segment in Pharmacy Automation Equipment Market
Figure 5. Germany to Show Remarkable Growth During Forecast Period
Figure 6. Europe: PEST Analysis
Figure 7. Pharmacy Automation Equipment Market Impact Analysis of Drivers and Restraints
Figure 8. Europe Pharmacy Automation Equipment Market– Revenue Forecast and Analysis – 2020- 2028
Figure 9. Pharmacy Automation Equipment Market Revenue Share, by Type (2020 and 2028)
Figure 10. Automated Medication Dispensing Systems: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. Automated Storage & Retrieval Systems: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. Automated Packaging & Labeling Systems: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Tabletop Tablet Counters: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Automated Compounding Devices: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Pharmacy Automation Equipment Market, by End-User, 2020 and 2028 (%)
Figure 16. Hospital Pharmacy: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Retail Pharmacy: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Others: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Europe: Pharmacy Automation Equipment Market, by Key Country – Revenue (2020) (USD Million)
Figure 20. Europe: Pharmacy Automation Equipment Market, by Country, 2020 & 2028 (%)
Figure 21. Germany: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
Figure 22. France: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
Figure 23. UK: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
Figure 24. Italy: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
Figure 25. Spain: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
Figure 26. Rest of Europe: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
Figure 27. Impact of COVID-19 Pandemic in European Country Markets
- AmerisourceBergen
- Baxter International Inc.
- Capsa Healthcare
- OMNICELL INC.
- Cerner Corporation
- MCKESSON CORPORATION
- BD
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