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The Europe Pharmacy Automation Devices Market would witness market growth of 12.1% CAGR during the forecast period (2020-2026). The outbreak of the COVID-19 pandemic resulted in the high transmission rate of infection from the healthcare employees to the patients & the thus led to the increasing demand for medications globally.
This factor is expected to impact the pharmacy automation devices market positively. Thus, in order to contain the spread of the coronavirus, the healthcare units & pharmacies have increasingly adopting automation systems. The demand for prescription drug sales has witnessed a huge spike & due to this aspect, various opportunities have appeared in the market that make it necessary to deploy pharmacy automation systems in order to reduce the infection rate.
Moreover, various factors such as the rising demand for specialty drug prescription filling solutions, the decentralization of pharmacies, and the growing requirement to reduce medication errors are expected to drive the demand for the pharmacy automation devices market in the next few years.
The geriatric population has witnessed a constant surge around the globe. As a result, there has been an increment in the rates of chronic & life-threatening diseases combined with the high dispensation of medications. The study conducted by the UK Department of Health Policy Research Program in 2019, has shown that around 237 million medication errors occurred in the NHS in England each year, and many people die due to the avoidable adverse drug reaction (ADRs). As a result, the demand is increasing, hospitals & pharmacies are deploying innovative pharmacy automation systems in order to minimize the operating costs while enhancing patient security.
Based on Product, the market is segmented into Medication Dispensing Systems, Packaging and Labeling Systems, Storage and Retrieval Systems, Automated Medication Compounding Systems, and Tabletop Tablet Counters. Based on End Use, the market is segmented into Retail Pharmacy and Hospital Pharmacy. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The Germany market dominated the Europe Hospital Pharmacy Market by Country in 2019, thereby, achieving a market value of $228.1 million by 2026. The UK market is showcasing a CAGR of 11.4% during (2020 - 2026). Additionally, The France market is expected to witness a CAGR of 13.9% during (2020 - 2026).
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include McKesson Corporation, Baxter International, Inc., Becton, Dickinson and Company, ARxIUM, Inc., Omnicell, Inc., Kuka AG (Swisslog Healthcare), Cerner Corporation, Accu-Chart Plus Healthcare Systems, Inc., Pearson Medical Technologies, LLC, and ScriptPro, LLC.
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