South and Central America 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 South and Central America pharmacy automation equipment market is expected to reach US$ 296.09 million by 2028 from US$ 182.58 million in 2020; it is estimated to grow at a CAGR of 7.2% from 2021 to 2028. The market growth is attributed to the factors such as emerging markets to provide upgraded healthcare services and increasing awareness among pharmacists regarding pharmacy automation. However, the lack of awareness about software in emerging nations is expected to be restrain the market growth.
In developing countries, pharmaceutical management is an essential factor due to escalating healthcare costs and rising pressure to improve access to services. To ease the access to drugs, governments of developing countries are adopting various strategies. In addition, most of the market players focus on emerging markets—such as Brazil and Peru—due to surging number of chronic diseases, rising adoption of latest medical technologies in hospitals, and increasing awareness about advanced medical technologies. Additionally, government authorities of the countries in Latin America are focusing on strengthening their medical tourism sector, thereby maximizing the flow of revenue. Moreover, in conventional pharmacies, pharmacists witness various issues such as an increasing medication errors and growing patient waiting times, due to the surging patient load. At present, awareness and concerns regarding medication errors and adverse events are increasing among pharmacists and healthcare professionals, which propels the growth of the South and Central America pharmacy automation equipment market.
South and Central America has been recording a growing number of COVID-19 cases since its outbreak. Moreover, an increasing number of researchers in Latin America have initiated the process of building industrial systems that deal with compound robotic tasks. One of the applications of the next generation of robotics is the automated packing of parts in an assembly process. Furthermore, automation is enhancing the demand for automated packaging systems and key players are taking strategic initiative to meet the demand. Thus, it has been concluded that the factor may raise the demand for pharmacy automation equipment in the South and Central America market.
Key Market Segments
The South and Central America 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 South and Central America 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 South and Central America pharmacy automation equipment market are the National Health Service (NHS), National Center for Biotechnology Information (NCBI), and World Travel & Tourism Council (WTTC).
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SOUTH AND CENTRAL AMERICA 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
- Brazil
- Argentina
- Rest of South and Central America
Company Profiles
- Baxter International Inc.
- Capsa Healthcare
- 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 South and Central America Pharmacy Automation Equipment Market – By Type
1.3.2 South and Central America Pharmacy Automation Equipment Market – By End User
1.3.3 South and Central America 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. South and Central America Pharmacy Automation Equipment Market– Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 SCAM 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 Market Opportunities
5.3.1 Emerging Markets
5.4 Future Trends
5.4.1 Technological Developments
5.5 Impact Analysis
6. Pharmacy Automation Equipment Market– South and Central America Analysis
6.1 South and Central America 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 – South and Central America Analysis
9.1 South and Central America: Pharmacy Automation Equipment Market
9.1.1 Overview
9.1.2 South and Central America: Pharmacy Automation Equipment Market, by Country, 2020 & 2028 (%)
9.1.3 Brazil: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
9.1.3.1 Brazil: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
9.1.3.2 Brazil: Pharmacy Automation Equipment Market, by Type, 2019–2028 (USD Million)
9.1.3.3 Brazil: Pharmacy Automation Equipment Market, by End-User, 2019–2028 (USD Million)
9.1.4 Argentina: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
9.1.4.1 Argentina: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
9.1.4.2 Argentina: Pharmacy Automation Equipment Market, by Type, 2019–2028 (USD Million)
9.1.4.3 Argentina: Pharmacy Automation Equipment Market, by End-User, 2019–2028 (USD Million)
9.1.5 Rest of South and Central America: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
9.1.5.1 Rest of South and Central America: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
9.1.5.2 Rest of South and Central America: Pharmacy Automation Equipment Market, by Type, 2019–2028 (USD Million)
9.1.5.3 Rest of South and Central America: Pharmacy Automation Equipment Market, by End-User, 2019–2028 (USD Million)
10. Impact Of COVID-19 Pandemic on South and Central America Pharmacy Automation Equipment Market
10.1 South and Central America: 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 Baxter International Inc.
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 Capsa Healthcare
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 Cerner Corporation
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 MCKESSON CORPORATION
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 BD
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
13. Appendix
13.1 About the Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. Brazil Pharmacy Automation Equipment Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 2. Brazil Pharmacy Automation Equipment Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 3. Argentina Pharmacy Automation Equipment Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 4. Argentina Pharmacy Automation Equipment Market, by End-User – Revenue and Forecast to 2028(USD Million)
Table 5. Rest of South and Central America Pharmacy Automation Equipment Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 6. Rest of South and Central America Pharmacy Automation Equipment Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 7. Organic Developments Done by Companies
Table 8. Inorganic Developments Done by Companies
Table 9. 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. South and Central America Pharmacy Automation Equipment Market Overview
Figure 4. Automated Medication Dispensing Systems Held Largest Share of Type Segment in Pharmacy Automation Equipment Market
Figure 5. Brazil to Show Remarkable Growth During Forecast Period
Figure 6. SCAM: PEST Analysis
Figure 7. Pharmacy Automation Equipment Market Impact Analysis of Drivers and Restraints
Figure 8. South and Central America 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. South and Central America: Pharmacy Automation Equipment Market, by Key Country – Revenue (2020) (USD Million)
Figure 20. South and Central America: Pharmacy Automation Equipment Market, by Country, 2020 & 2028 (%)
Figure 21. Brazil: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
Figure 22. Argentina: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
Figure 23. Rest of South and Central America: Pharmacy Automation Equipment Market – Revenue and Forecast to 2028 (USD Million)
Figure 24. Impact Of COVID-19 Pandemic in South and Central America Market
- Baxter International Inc.
- Capsa Healthcare
- Cerner Corporation
- MCKESSON CORPORATION
- BD
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