The European pharmacy automation market is anticipated to grow at a CAGR of 8.25% to reach a market size of US$2.970 billion by 2027.

NOIDA, UTTAR PRADESH, INDIA, July 27, 2023/EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the Europe Pharmacy Automation Market is projected to grow at a CAGR of 8.25% between 2020 and 2027 to reach US$2.970 billion by 2027.

The prime factors propelling the Europe pharmacy automation market growth are the increasing need for efficient medication management in healthcare facilities, rising emphasis on patient safety and medication accuracy, advancements in healthcare technology, and the growing demand for streamlining pharmacy operations in hospitals and retail pharmacies.

Pharmacy automation refers to the use of advanced technologies and automated systems in pharmacies across European countries to streamline various processes and enhance efficiency. These automation solutions include robotic dispensing systems, automated medication storage and retrieval, barcode scanning, inventory management systems, and medication packaging automation. By automating tasks like medication dispensing, inventory tracking, and prescription management, Europe pharmacy automation aims to reduce medication errors, improve patient safety, increase productivity, and free up pharmacists' time to focus on patient care.

The market is witnessing multiple collaborations and technological advancements, for instance in March 2022, Deenova unveiled three new innovative additions to its D3 product line of mechatronic solutions for medication management at the 26th Congress of the European Association of Hospital Pharmacists. The new solutions, AIDE-Cut, AIDE-Pack, and AIDE-Pick, offer advanced features for repackaging oral and non-oral medications in unit doses, enhancing Deenova's existing pharmacy automation solutions.

Access sample report or view details:
https://www.knowledge-sourcing.com/report/europe-pharmacy-automation-market

Based on application the market is segmented into automated dispensing system, automated packaging and labeling system, automated storage and retrieval system, IV pharmacy, and others. The automated dispensing system is witnessing rapid growth due to its ability to reduce medication errors, improve patient safety, and enhance operational efficiency in pharmacies. The increasing demand for streamlined medication dispensing processes and the emphasis on patient-centric care are driving the adoption of automated dispensing systems across Europe. The market segments include automated dispensing systems, which streamline the medication dispensing process and improve accuracy; automated packaging and labeling systems, which efficiently prepare medications for distribution; automated storage and retrieval systems, optimizing inventory management and accessibility; IV pharmacy automation, enhancing safety and precision in intravenous medication preparation; and other applications catering to specific pharmacy needs.

Based on end-users the Europe pharmacy automation market is divided into hospital pharmacy and retail pharmacy. Hospital pharmacy automation is witnessing significant growth owing to the rising need for efficient and error-free medication management in healthcare facilities. Automated systems in hospital pharmacies help streamline medication dispensing, reduce medication errors, and enhance patient safety. They also contribute to improved inventory management, better tracking of medications, and increased overall efficiency in healthcare settings. The growing demand for advanced healthcare technologies and the emphasis on patient care and safety are driving the adoption of pharmacy automation in hospital settings across Europe.

Based on country, Germany is expected to dominate the Europe pharmacy automation market share due to several key factors. Germany has a well-developed healthcare system and a significant number of hospitals and retail pharmacies, creating a substantial demand for pharmacy automation solutions to improve efficiency and patient care. The country's strong focus on healthcare modernization and adoption of advanced technologies such as artificial intelligence in healthcare further drives the implementation of pharmacy automation systems. Additionally, Germany's emphasis on patient safety and medication management aligns with the benefits offered by pharmacy automation in reducing errors and improving medication dispensing processes. With a combination of robust healthcare infrastructure, technological advancements, and a commitment to patient care, Germany is positioned to lead the pharmacy automation market in Europe.

As a part of the report, the major players operating in the Europe pharmacy automation market, that have been covered include Omnicell, Mickesson Corporation, Parata Systems, and RxMedic Systems among others, as significant market players in the Europe pharmacy automation industry.

The market research study segments the Europe pharmacy automation market on the following basis:

• By Application
o Automated Dispensing System
o Automated Packaging and Labeling System
o Automatic Storage and Retrieval System
o IV Pharmacy
o Others

• By End-User
o Hospital Pharmacy
o Retail Pharmacy

• By Country
o United Kingdom
o Germany
o France
o Spain
o Others

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Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
info@knowledge-sourcing.com
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