Europe Pharmacy Automation Market - Forecasts from 2018 to 2023
Europe Pharmacy Automation market is projected to grow at a CAGR of 5.92% during the forecast period to reach a total market size of US$1.905 billion in 2022 from US$1.349 billion in 2016. Rising healthcare costs is the major driver of Europe Pharmacy Automation market. Growing focus on disease prevention and management coupled with increasing need to reduce medication errors is further escalating the demand for pharmacy automation solutions and services in the region. Countries such as Spain and France have the strictest level of regulation regarding pharmacy and healthcare facilities. By application, robotic dispensing system will witness the fastest market growth at the CAGR of 8.68% during the forecast period. By end user, European Hospital Pharmacy Automation market is projected to grow at a CAGR of 5.02% during the forecast period since throughout Europe, pharmacy organizations, governmental departments, and professional bodies are supporting the adoption of pharmacy automation systems in both hospitals and retail stores.
The first section of the report deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report
Next section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry and regional regulations which are determining the product specifications and a brief technological aspect of pharmacy automation. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Thirdly, Europe Pharmacy Automation market has been segmented by application automated medication dispensing system, automated packaging and labeling system, automatic storage and retrieval system, robotic dispensing system, IV pharmacy, and others. The market has also been segmented by end user as hospital pharmacy and retail pharmacy. Geographically, market has been segmented as the UK, Germany, France, Spain, and others.
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry participants profiled as part of this section are Swisslog Holdings, Avantec, Omnicell, Parata Systems, and RxMedic Systems.