Europe Pharmacy Automation Systems Market

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; it is estimated to grow at a CAGR of 9.7% from 2022 to 2030.

Growing Risks of Medication Errors Fuel the Europe Pharmacy Automation Systems Market

Medication errors are alarming and are considered the third leading cause of death worldwide. As per WHO, medication errors and unsafe drug practices are the main causes of preventable injury in healthcare systems worldwide. Fifty percent of medical care's avoidable harm is linked to medication, with the biggest contributors being errors in prescription and monitoring. Medication errors are expected to cost US$ 42 billion a year globally and a medication error causes 1 death in 1 million of the population globally. An article published by the European Alliance for Access to Safe Medicines in September 2022 states that medication errors result in 160,000 deaths annually in Europe. Also, countries such as the US, Spain, and Germany collectively report 60,000-131,000 deaths yearly due to medication errors. On the other hand, the risks of drug-related injuries due to medication errors are much higher. Distractions are the leading cause of ~75% of medication errors. Distractions are common when healthcare professionals are engaged in multiple tasks, including speaking to consultants, speaking to patient family members, examining the patient, and conversing with insurance professionals simultaneously. Moreover, in these situations, they fail to complete their duties on time and suffer a lapse of judgment, leading to medication errors. Distortion is another factor responsible for the maximum number of medication errors. Distortion is a result of poor writing, use of abbreviations, misunderstood symbols, or improper translation. Further, pharmacists and nurses find difficulties to understand the handwritten prescription for medicines that leads to wrong delivery of medicines to the patients. Thus, the growing number of medication errors triggers the demand for pharmacy automation systems.

Europe Pharmacy Automation Systems Market Overview

The European pharmacy automation market is segmented into Germany, the UK, Italy, Spain, France, and the Rest of Europe. The presence of numerous domestic market players and the increasing incidences of chronic diseases are the key factors driving the market growth in this region. Germany is one of the major contributors to the global pharmacy automation systems market. The country has the presence of many players that develop and manufacture medical devices, along with their accessories required in the healthcare industry. In addition, several medical dispenser manufacturers operate in Germany. For instance, 12,000 BD Row systems developed in Germany by BD are installed worldwide. Similarly, various other players in the country are developing innovative automated pharmacy systems.

Europe Pharmacy Automation Systems Market Revenue and Forecast to 2030 (US$ Million)

 

Europe Pharmacy Automation Systems Strategic Insights

Strategic insights for the Europe Pharmacy Automation Systems provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Pharmacy Automation Systems Report Scope

Europe Pharmacy Automation Systems Regional Insights

The geographic scope of the Europe Pharmacy Automation Systems refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Europe Pharmacy Automation Systems Market Segmentation

The Europe pharmacy automation systems market is segmented based on type, end user, and country.

Based on type, the Europe pharmacy automation systems market is segmented 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 the largest market share in 2022.

Based on end user, the Europe pharmacy automation systems market is segmented into hospital pharmacy, retail pharmacy, and others. The hospital pharmacy segment held the largest market share in 2022.

Based on country, the Europe pharmacy automation systems market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Germany dominated the Europe pharmacy automation systems market share in 2022.

McKesson Corp, Becton Dickinson and Co, Capsa Solutions LLC, Deenova Srl, Omnicell Inc, Oracle Corp, Veradigm LLC, and Swisslog Healthcare AG are some of the leading companies operating in the Europe pharmacy automation systems market.