At 9.7% CAGR, the Europe Pharmacy Automation Systems Market is Projected to be worth US$ 6,848.48 million by 2030, says Business Market Insights

According to Business Market Insights research, the Europe pharmacy automation systems market was valued at US$ 3,274.12 million in 2022 and is expected to reach US$ 6,848.48 million by 2030, registering a CAGR of 9.7% from 2022 to 2030. Aging population is among the critical factors attributed to the Europe pharmacy automation systems market expansion.

The aging population is a key to advancements in the healthcare sector. Thus, the growing aging population is anticipated to serve vital growth opportunities for the pharmacy. According to the United Nations' World Population Prospects 2022 report, the elderly population is projected to increase from 10% of the total population in 2022 to 16% of the total population by 2050. The rapidly growing aging population indicates that there will be exponential demand for care and medicines. Older people live with one or more chronic medical conditions, such as arthritis, diabetes, Alzheimer's, or Parkinson's; the treatments of these conditions require regular refilling of medicines. Also, there is growth in life expectancy worldwide, leading to the need for more digital and automated systems for adult care.

The development of automatic medicine dispensers has served beneficially in developed regions. Advanced features such as an LED display, a motor controller, and an alarm system help people with medication reminders. Automated pharmacy systems would enable them to keep track of their medicine and stocks better. Further, the implementation of automated pharmacy systems has been proven to trigger medication adherence in adults. With such features, the adoption of automated pharmacy systems is expected to grow in the coming years.

On the contrary, high capitalization cost and problems associated with pharmacy automation systems hampers the growth of Europe pharmacy automation systems market.

Based on type, the Europe pharmacy automation systems market is categorized into automation medication dispensing systems (product type and operation), automated packaging and labelling systems, automated table-top counters, automated storage and retrieval systems, and other types. The automation medication dispensing systems segment held 34.7% market share in 2022, amassing US$ 1,134.65 million. It is projected to garner US$ 2,473.38 million by 2030 to expand at 10.2% CAGR during 2022-2030.

Based on end user, the Europe pharmacy automation systems market is categorized into hospital pharmacy, retail pharmacy, and others. The hospital pharmacy segment held 58.0% share of Europe pharmacy automation systems market in 2022, amassing US$ 1,898.07 million. It is projected to garner US$ 4,087.13 million by 2030 to expand at 10.1% CAGR during 2022-2030.

Based on country, the Europe pharmacy automation systems market has been categorized into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 29.9% share of Europe pharmacy automation systems market in 2022. It was assessed at US$ 977.32 million in 2022 and is likely to hit US$ 1,994.96 million by 2030, exhibiting a CAGR of 9.3% during 2022-2030.

Key players operating in the Europe pharmacy automation systems market are McKesson Corp, Becton Dickinson and Co, Capsa Solutions LLC, Deenova Srl, Omnicell Inc, Oracle Corp, Veradigm LLC, and Swisslog Healthcare AG, among others.

- In July 2023, Capsa Healthcare Announced Acquisition of MASS Medical Storage, Expanding its Leadership in Healthcare Solutions.

- In Feb 2020, Geisinger employs Omnicell XT series automated dispensing systems.

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