The electronic distribution, sorting, packaging, and counting of prescription drugs is known as pharmacy automation. Among the many benefits of pharmacy automation are increased accuracy, reduced labor costs, and increased efficiency. One of the only methods used when pharmacy automation first gained traction was pill counting. These days, a lot more accessible automation devices are available, such as those that dispense medications, sync records, and comply with regulations. The first portable and digital pill counter marked the beginning of pharmacy automation. The digital pill counter, created by John and Frank Kirby, revolutionized and helped the pharmaceutical industry. Pharmacy proprietors can profit from pharmacy automation in a number of ways, such as enhanced inventory management, better space savings, increased accuracy and speed, and improved narcotics security.
According to SPER Market Research, ‘Europe Pharmacy Automation Market Size- By Product, By Pharmacy Type, By Pharmacy Size, By Application, By End User, By Distribution Channel – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Europe Pharmacy Automation Market is estimated to reach USD XX billion by 2033 with a CAGR XX%.
Drivers: The increased need to reduce medication errors is the primary motivator. The primary cause of death in many nations is medical errors, which also contribute to the rise in hospitalisation rates globally. Prescription errors, dispensing errors, administration problems, transcription errors, prescribing errors, and “across settings” errors are among the many sorts of medication errors that occur in the chain of pharmacological and pharmaceutical patient care. The growing demand for pharmaceuticals is another motivator. The rising prevalence of chronic illnesses including cancer, diabetes, obesity, and asthma, among others, is causing a global increase in the need for medications. Individuals with these illnesses are reliant on the medications that their doctors prescribe for them.
Restraints: Compared to manual procedures, pharmacy automation technologies are more expensive. Adopting pharmacy automation systems in hospitals and pharmacies in underdeveloped countries, as well as small pharmacies worldwide, is challenging due to the considerable capital expenditure required for their installation. Therefore, the low adoption rate of pharmacy automation systems is caused by the large capital expenditure. As a result, it limits the expansion of the market. The FDA, DEA, and EPA also enforce a number of regulations that govern drug delivery methods. Therefore, manufacturers of automated pharmaceutical systems must adhere to a number of rules; doing so is a laborious task that may cause delays in the release of new products. Therefore, the strictness of regulatory processes hinders market expansion.
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Impact of COVID-19 on Europe Pharmacy Automation Market
In Europe, the COVID-19 epidemic had a major effect on the pharmaceutical automation sector. Initially, as pharmacies looked to reduce in-person interactions and speed up prescription processing, the epidemic raised demand for pharmacy automation technologies. However, investments in automation projects were postponed due to economic uncertainty, supply chain interruptions, and limited access to healthcare services. With pharmacists realising the long-term advantages of automation in preserving operational resilience, interest was rekindled as healthcare systems adjusted to the epidemic. The market’s recovery and continued expansion are impacted by Europe’s growing requirement for safe and effective pharmacy operations as well as ongoing healthcare issues.
Europe Pharmacy Automation Market Key Players:
Germany dominated the Europe Pharmacy Automation Market due to the rise in technological advancement in the market. Major players in the market are AmerisourceBergen Corporation, Asteres Inc., Capsa Healthcare, Cerner Corporation, Deenova S.r.l.
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Europe Pharmacy Automation Market Share
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