LAMEA Pharmacy Automation Devices Market By Product (Medication Dispensing Systems, Packaging and Labeling Systems, Storage and Retrieval Systems, Automated Medication Compounding Systems, and Tabletop Tablet Counters), By End Use (Retail Pharmacy and Hospital Pharmacy), By Country, Industry Analysis and Forecast, 2020 - 2026
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Get in-depth analysis of the COVID-19 impact on the LAMEA Pharmacy Automation Devices Market
The Latin America, Middle East and Africa Pharmacy Automation Devices Market would witness market growth of 13.8% CAGR during the forecast period (2020-2026). Due to the COVID-19 pandemic, various companies dealing in pharmacy automation devices observed a reduction in sales revenue. On the other hand, the COVID-19 pandemic is anticipated to raise awareness about the significance of automation in the healthcare and pharmaceutical sector, which, as a result, is expected to boost the pharmacy automation market in the next few years.
The end-users are helped by digitizing processes & enhancing workflow in the better management of costs & enhance efficiency across the range of care, bringing better outcomes & performance, and enabling them to redistribute time to focus on patient care. Automatic robotic delivery of prescribed medication & consulting to enhance pharmacy capability are some of the aspects included in this program. This, as a result, is expected to fuel the deployment of these solutions to streamline tasks by restricting non-essential human intervention, while complying with social distancing regulations.
The number of prescriptions has been increased due to the rising burden of chronic diseases & the growing geriatric population. As a result, the number of medication errors is expected to increase. This is fueling the demand for pharmacy automation devices. In addition, the growth of the market is positively affected by a surge in initiatives by several companies, like the American Society of Health-System Pharmacists in order to decrease medication errors.
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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The Medication Dispensing Systems market dominated the South Africa Pharmacy Automation Devices Market by Product in 2019, thereby, achieving a market value of $32.4 million by 2026. The Packaging and Labeling Systems market is showcasing a CAGR of 13.6% during (2020 - 2026). Additionally, The Storage and Retrieval Systems market would exhibit highest CAGR of 14.8% 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.
Scope of the Study
Market Segments Covered in the Report:
- Medication Dispensing Systems
- Packaging and Labeling Systems
- Storage and Retrieval Systems
- Automated Medication Compounding Systems
- Tabletop Tablet Counters
- Retail Pharmacy
- Hospital Pharmacy
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 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
- ScriptPro, LLC
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