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Europe Pharmacy Automation Market Size Set to Grow at Significant CAGR of 9.49% to Reach USD 2.67 Billion During 2023–2029
Europe pharmacy automation market is flourishing due to the need for improved medication dispensing accuracy, rising healthcare costs, increasing demand for efficient healthcare services, a growing aging population, and advancements in technology for streamlining pharmacy operations, ultimately enhancing patient care and safety.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Europe pharmacy automation market size at USD 1.55 billion in 2022. During the forecast period between 2023 and 2029, Europe pharmacy automation market size is to grow at a significant CAGR of 9.49% reaching a value of USD 2.67 billion by 2029. Europe pharmacy automation market is driven by several key factors. Increasing demand for efficient and accurate medication dispensing due to the aging population and rising chronic diseases fuels market growth. Also, the need to reduce medication errors and enhance patient safety is a significant driver. Further, regulatory pressures for stringent medication management and inventory control also contribute to the market's expansion. COVID-19 pandemic further accelerated the adoption of automation to ensure contactless prescription fulfillment. Advancements in technology, such as robotics and AI, are propelling the market forward by offering innovative solutions for pharmacy operations.
Europe Pharmacy Automation Market – Overview
Pharmacy automation refers to the use of technology and machinery to streamline and enhance various processes in pharmaceutical settings. It encompasses tasks such as medication dispensing, prescription filling, inventory management, and patient record keeping. Automation systems like robotic dispensers, automated pill counters, and electronic health records help reduce errors, improve efficiency, and ensure medication safety. They also enable pharmacists to focus on patient care and counseling rather than repetitive tasks. Pharmacy automation plays a crucial role in modern healthcare, promoting accuracy and accessibility while optimizing the overall pharmaceutical workflow.
Impact of COVID-19 on Europe Pharmacy Automation Market
The COVID-19 pandemic significantly impacted Europe pharmacy automation market. Initially, the pandemic increased the demand for pharmacy automation solutions as pharmacies sought to minimize physical contact and expedite prescription processing. However, supply chain disruptions, restricted access to healthcare facilities, and economic uncertainties led to delayed investments in automation projects. As healthcare systems adapted to the pandemic, interest was resurgent, with pharmacies recognizing the long-term benefits of automation in maintaining operational resilience. The market's recovery and sustained growth are influenced by ongoing healthcare challenges and the increasing need for efficient and safe pharmacy operations in Europe.
Europe Pharmacy Automation Market - By End User
By end-user, the Europe pharmacy automation market is divided into Inpatient Pharmacies, Outpatient Pharmacies, Retail Pharmacies, Online Pharmacies, Central Fill/Mail Order Pharmacies, and Pharmacy Benefit Management Organizations. Inpatient Pharmacies represent the largest segment, serving hospitals and other healthcare institutions. They rely on pharmacy automation to streamline medication distribution within their facilities, ensuring timely and accurate patient care. Retail Pharmacies and Online Pharmacies are also significant segments, catering to the community and online shoppers. Pharmacy Benefit Management Organizations play a vital role in optimizing medication costs and benefit plans. Each end-user segment addresses unique pharmacy automation needs in the European healthcare landscape.
Competitive Landscape
Europe pharmacy automation market is fiercely competitive. Major companies in the market include ARxIUM, OMNICELL INC., Cerner Corporation, Capsa Healthcare, ScriptPro LLC, RxSafe, LLC., MedAvail Technologies, Inc., Asteres Inc., BD, Baxter, McKesson Corporation, Innovation Associates, Takazono Corporation, TOSHO Inc., JVM Europe BV, Genesis Automation LTD, myPak Solutions Pty Ltd., Demodeks Pharmacy Shelving, and Deenova S.r.l. ARxIUM, OMNICELL INC., Cerner Corporation, Capsa Healthcare, ScriptPro LLC, RxSafe, LLC., MedAvail Technologies, Inc., Asteres Inc., BD, Baxter, McKesson Corporation, Innovation Associates, Takazono Corporation, OSHO Inc., JVM Europe BV, Genesis Automation LTD, myPak Solutions Pty Ltd., Demodeks Pharmacy Shelving, and Deenova S.r.l. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Europe pharmacy automation market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Europe Pharmacy Automation Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Europe Pharmacy Automation Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Europe Pharmacy Automation Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Growing need to minimize medication errors
- 3.2.1.2. Increasing aging population and chronic diseases
- 3.2.2. Restraints
- 3.2.2.1. High initial investment
- 3.2.2.2. Stringent regulatory requirements
- 3.2.3. Opportunities
- 3.2.3.1. Emerging markets
- 3.2.3.2. Medication management solutions
- 3.2.4. Challenges
- 3.2.4.1. Competition
- 3.2.4.2. Data security
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. Europe Pharmacy Automation Market Overview
- 4.1. Market Size & Forecast, 2019–2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Type
- 4.2.1.1. Automated Medication Dispensing Systems
- 4.2.1.2. Automated Packaging & Labeling Systems
- 4.2.1.3. Automated Storage & Retrieval Systems
- 4.2.1.4. Automated Compounding Devices
- 4.2.1.5. Tabletop Tablet Counters
- 4.2.2. By End User
- 4.2.2.1. Inpatient Pharmacies
- 4.2.2.2. Outpatient Pharmacies
- 4.2.2.3. Retail Pharmacies
- 4.2.2.4. Online Pharmacies
- 4.2.2.5. Central Fill/Mail Order Pharmacies
- 4.2.2.6. Pharmacy Benefit Management Organizations
- 4.2.2.7. Others
- 4.2.3. By Country
- 4.2.3.1. Germany
- 4.2.3.2. United Kingdom
- 4.2.3.3. Italy
- 4.2.3.4. France
- 4.2.3.5. Spain
- 4.2.3.6. Belgium
- 4.2.3.7. Russia
- 4.2.3.8. The Netherlands
- 4.2.3.9. Rest of Europe
- 5. Competitive Landscape
- 5.1. List of Key Players and Their Range
- 5.2. Europe Pharmacy Automation Company Market Share Analysis, 2022
- 5.3. Competitive Benchmarking, By Operating Parameters
- 5.4. Key Strategic Development (Merger, Acquisition, Partnership)
- 6. Impact of Covid-19 on Europe Pharmacy Automation Market Industry
- 7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, SWOT Analysis)
- 7.1. ARxIUM
- 7.2. OMNICELL INC.
- 7.3. Cerner Corporation
- 7.4. Capsa Healthcare
- 7.5. ScriptPro LLC
- 7.6. RxSafe, LLC.
- 7.7. MedAvail Technologies, Inc.
- 7.8. Asteres Inc.
- 7.9. BD
- 7.10. Baxter
- 7.11. McKesson Corporation
- 7.12. Innovation Associates
- 7.13. Takazono Corporation
- 7.14. TOSHO Inc.
- 7.15. JVM Europe BV
- 7.16. Genesis Automation LTD
- 7.17. myPak Solutions Pty Ltd.
- 7.18. Demodeks Pharmacy Shelving
- 7.19. Deenova S.r.l.
- 7.20. Other prominent players
- 8. Key Strategic Recommendations
- 9. Research Methodology
- 9.1. Qualitative Research
- 9.1.1. Primary & Secondary Research
- 9.2. Quantitative Research
- 9.3. Market Breakdown & Data Triangulation
- 9.3.1. Secondary Research
- 9.3.2. Primary Research
- 9.4. Breakdown of Primary Research Respondents
- 9.5. Assumption & Limitation
- *Financial information of non-listed companies can be provided as per availability.
- **The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
- List of Figures
- Figure 1 Europe Pharmacy Automation Market Segmentation
- Figure 2 Europe Pharmacy Automation Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 Europe Pharmacy Automation Market Size, By Value (USD Million), 2019–2029
- Figure 5 Europe Pharmacy Automation Market Share, By Type, By Value, 2019–2029
- Figure 6 Europe Pharmacy Automation Market Share, By End User, By Value, 2019–2029
- Figure 7 Europe Pharmacy Automation Market Share, By Country, By Value, 2019–2029
- List of Tables
- Table 1 Europe Pharmacy Automation Market Share, By Type, By Value, 2019–2029
- Table 2 Europe Pharmacy Automation Market Share, By End User, By Value, 2019–2029
- Table 3 Europe Pharmacy Automation Market Share, By Country, By Value, 2019–2029
- Table 4 ARxIUM Company Overview
- Table 5 ARxIUM Financial Overview
- Table 6 OMNICELL INC. Company Overview
- Table 7 OMNICELL INC. Financial Overview
- Table 8 Cerner Corporation Company Overview
- Table 9 Cerner Corporation Financial Overview
- Table 10 Capsa Healthcare Company Overview
- Table 11 Capsa Healthcare Financial Overview
- Table 12 ScriptPro LLC Company Overview
- Table 13 ScriptPro LLC Financial Overview
- Table 14 RxSafe, LLC. Company Overview
- Table 15 RxSafe, LLC. Financial Overview
- Table 16 MedAvail Technologies, Inc. Company Overview
- Table 17 MedAvail Technologies, Inc. Financial Overview
- Table 18 Asteres Inc. Company Overview
- Table 19 Asteres Inc. Financial Overview
- Table 20 BD Company Overview
- Table 21 BD Financial Overview
- Table 22 Baxter Company Overview
- Table 23 Baxter Financial Overview
- Table 24 McKesson Corporation Company Overview
- Table 25 McKesson Corporation Financial Overview
- Table 26 Innovation Associates Company Overview
- Table 27 Innovation Associates Financial Overview
- Table 28 Takazono Corporation Company Overview
- Table 29 Takazono Corporation Financial Overview
- Table 30 TOSHO Inc. Company Overview
- Table 31 TOSHO Inc. Financial Overview
- Table 32 JVM Europe BV Company Overview
- Table 33 JVM Europe BV Financial Overview
- Table 34 Genesis Automation LTD Company Overview
- Table 35 Genesis Automation LTD Financial Overview
- Table 36 myPak Solutions Pty Ltd. Company Overview
- Table 37 myPak Solutions Pty Ltd. Financial Overview
- Table 38 Demodeks Pharmacy Shelving Company Overview
- Table 39 Demodeks Pharmacy Shelving Financial Overview
- Table 40 Deenova S.r.l. Company Overview
- Table 41 Deenova S.r.l. Financial Overview
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