The Europe pharmacy automation market refers to the growing adoption of automated technologies and systems in pharmacies across European countries to streamline various aspects of pharmaceutical operations. These technologies include robotic dispensing systems, automated medication storage and retrieval, prescription filling, and inventory management solutions. Pharmacy automation aims to streamline various aspects of the medication distribution process, from prescription filling to patient counseling, to enhance pharmaceutical services' overall efficiency and accuracy.
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Data Bridge Market Research analyzes that the Europe Pharmacy Automation Market will grow at a CAGR of 9.6% during the forecast period of 2023 to 2030. Europe faces a rising medication volume due to its aging population. Pharmacy automation systems play a pivotal role in efficiently managing this increased demand by streamlining processes and ensuring accurate medication dispensing, addressing the needs of a changing healthcare landscape.
Key Findings of the Study
Growing need to minimize medication errors is expected to drive the market's growth rate
The pressing need to minimize medication errors is underscored by the fact that medical errors are a leading cause of death worldwide, resulting in increased hospitalizations. Medication errors encompass various types, from prescription and dispensing errors to administration and transcription mistakes. These errors can occur due to factors such as poor communication between doctors and pharmacists, inadequate storage practices, and label-related misunderstandings. Dispensing errors, in particular, involve deviations from the prescription order, including incorrect doses, drugs, or labeling. In a pharmacy processing 250 prescriptions daily, an average of 4 errors occur daily, contributing to an estimated 51.5 million errors annually out of 3 billion prescriptions filled nationally.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Segments Covered
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Product (Systems, Software, and Services), Pharmacy Type (Independent, Chain, and Federal), Pharmacy Size (Large Size Pharmacy, Medium Size Pharmacy, and Small Size Pharmacy), Application (Drug Dispensing and Packaging, Drug Storage, and Inventory Management), End User (Inpatient Pharmacies, Outpatient Pharmacies, Retail Pharmacies, Online Pharmacies, Central Fill/Mail Order Pharmacies, Pharmacy Benefit Management Organizations, and Others), Distribution Channel (Direct Tender and Third Party Distributor)
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Countries Covered
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Germany, France, Italy, U.K., Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, rest of Europe
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Market Players Covered
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ARxIUM (U.S.), OMNICELL INC. (U.S.), Capsa Healthcare (U.S.), ScriptPro LLC (U.S.), RxSafe, LLC. (U.S.), MedAvail Technologies, Inc. (Canada), Asteres Inc. (U.S.), InterLink AI, Inc. (U.S.), BD (Becton, Dickinson, and Company) (U.S.), Baxter (U.S.), Fullscript (Canada), McKesson Corporation (U.S.), Innovation Associates (U.S.), AmerisourceBergen Corporation (U.S.), UNIVERSAL LOGISTICS HOLDINGS, INC. (U.S.), Takazono Corporation (Japan), TOSHO Inc. (Japan), Willach Group: (Australia), BIQHS (Ireland), Synergy Medical (Brazil), Yuyama (Japan), APD Algoritmos Procesos y Diseños S.A (Argentina), JVM Europe BV (Netherlands), Genesis Automation LTD ( Ireland), myPak Solutions Pty Ltd. (Australia), Demodeks Pharmacy Shelving (Turkey), Deenova S.r.l.( Italy), KUKA AG (Germany), KLS Pharma Robotics GmbH (Germany)among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The Europe pharmacy automation market is segmented into six notable segments based on product, pharmacy type, pharmacy size, application, end user, and distribution channel.
- On the basis of product, the Europe pharmacy automation market is segmented into systems, software, and services.
- On the basis of pharmacy type, the Europe pharmacy automation market is segmented into independent, chain, and federal.
- On the basis of pharmacy size, the Europe pharmacy automation market is segmented into large size pharmacy, medium size pharmacy, and small size pharmacy.
- On the basis of application, the Europe pharmacy automation market is segmented into drug dispensing and packaging, drug storage, and inventory management.
- On the basis of end user, the Europe pharmacy automation market is segmented into inpatient pharmacies, outpatient pharmacies, retail pharmacies, online pharmacies, central fill/mail order pharmacies, pharmacy benefit management organizations, and others.
- On the basis of distribution channel, the Europe pharmacy automation market is segmented into direct tender and third party distributor.
Major Players
Data Bridge Market Research recognizes the following companies as the major Europe pharmacy automation market players in Europe pharmacy automation market are Genesis Automation LTD (Ireland), myPak Solutions Pty Ltd. (Australia), Demodeks Pharmacy Shelving (Turkey), Deenova S.r.l.( Italy), KUKA AG (Germany), KLS Pharma Robotics GmbH (Germany).
Market Developments
- In January 2023, AmerisourceBergen Corporation successfully concluded its acquisition of PharmaLex Holding GmbH. This strategic move significantly bolsters AmerisourceBergen's growth strategy, reinforcing its position in specialty services and expanding its global portfolio of pharmaceutical manufacturer services. The acquisition of PharmaLex aligns with AmerisourceBergen's commitment to offering enhanced and diversified solutions in the pharmaceutical industry, further solidifying its presence in this dynamic and evolving sector
- In February 2022, Baxter made a significant announcement, revealing its authorization by the Common Vulnerability and Exposures (CVE) program to serve as a CVE Numbering Authority. This designation empowers Baxter to assign and manage CVE numbers, reinforcing its commitment to addressing and mitigating cybersecurity vulnerabilities. This development signifies a proactive approach to enhancing the security of its products and services in the face of evolving digital threats.
- In 2022, Capsa Healthcare successfully acquired Humanscale Healthcare, a respected New York-based company known for its flexible technology solutions and computing workstations. This strategic move bolsters Capsa's market presence by diversifying its product offerings and augmenting its capacity to provide ergonomically designed point-of-care computing solutions to healthcare providers worldwide. This acquisition reflects Capsa's commitment to delivering innovative solutions that improve healthcare delivery and enhance the efficiency and comfort of clinical workflows
- In 2021, Innovation Associates, a US-based company, introduced SmartPod, a cutting-edge robot tailored for central-fill pharmacy environments. SmartPod empowers providers with the capability to tailor and scale their centralized fulfillment solutions to match the unique requirements of their operations. This innovative robot promises increased efficiency and flexibility, meeting the evolving demands of modern healthcare settings
Regional Analysis
Geographically, the countries covered in the Europe pharmacy automation market report are Germany, France, Italy, U.K., Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, rest of Europe.
As per Data Bridge Market Research analysis:
Germany is estimated to be the fastest growing region in Europe pharmacy automation market for the forecast period 2023-2030
Germany is poised to lead the European pharmacy automation market, fueled by significant technological advancements. The country's proactive approach to adopting cutting-edge technologies has positioned it as a critical player in pharmacy automation. With a focus on innovation and efficiency, Germany is expected to dominate the region, showcasing the potential for advanced automated solutions and setting new standards for the European healthcare landscape.
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