South and Central America Pharmacy Automation Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type and End User

The automated compounding devices segment by type is estimated to lead the market growth during the forecast period.

According to this study, the South and Central America pharmacy automation equipment market is expected to reach US$ 296.09 million by 2028 from US$ 170.76 million in 2020; it is estimated to grow at a CAGR of 7.2% from 2021 to 2028. The report highlights trends prevailing in the South and Central America pharmacy automation equipment market and the factors driving market along with those that act as hindrances.

The South and Central America pharmacy automation equipment market, by type, is segmented into automated medication dispensing systems, automated packaging & labeling systems, automated storage & retrieval systems, automated compounding devices, and tabletop tablet counters. The automated medication dispensing systems segment held the largest share of the market in 2020, whereas the automated compounding devices segment is anticipated to register the highest CAGR in the market during the forecast period. In developing countries, pharmaceutical management is an essential factor due to escalating healthcare costs and rising pressure to improve access to services. To ease the access to drugs, governments of developing countries are adopting various strategies. In addition, most of the market players focus on emerging markets-such as Brazil and Peru-due to surging number of chronic diseases, rising adoption of latest medical technologies in hospitals, and increasing awareness about advanced medical technologies. Additionally, government authorities of the countries in Latin America are focusing on strengthening their medical tourism sector, thereby maximizing the flow of revenue. Moreover, in conventional pharmacies, pharmacists witness various issues such as an increasing medication errors and growing patient waiting times, due to the surging patient load. At present, awareness and concerns regarding medication errors and adverse events are increasing among pharmacists and healthcare professionals, which propels the growth of the South and Central America pharmacy automation equipment market.

South and Central America has been recording a growing number of COVID-19 cases since its outbreak. Moreover, an increasing number of researchers in Latin America have initiated the process of building industrial systems that deal with compound robotic tasks. One of the applications of the next generation of robotics is the automated packing of parts in an assembly process. Furthermore, automation is enhancing the demand for automated packaging systems and key players are taking strategic initiative to meet the demand. Thus, it has been concluded that the factor may raise the demand for pharmacy automation equipment in the South and Central America market.

The market growth is attributed to the factors such as emerging markets to provide upgraded healthcare services and increasing awareness among pharmacists regarding pharmacy automation. However, the lack of awareness about software in emerging nations is expected to be restrain the market growth.

Baxter International Inc., Capsa Healthcare, Cerner Corporation, MCKESSON CORPORATION, and BD are among the leading companies operating in the South and Central America pharmacy automation equipment market.

The report segments in South and Central America Pharmacy Automation Equipment Market as follows:

By Type

• Automated Medication Dispensing Systems
• Automated Packaging & Labeling Systems
• Automated Storage & Retrieval Systems
• Automated Compounding Devices
• Tabletop Tablet Counters

By End User

• Hospital Pharmacy
• Retail Pharmacy
• Others

By Country

• Brazil
• Argentina
• Rest of South and Central America