South & Central America Pharmacy Automation Systems Market Forecast to 2030 - Regional Analysis - by Type and End User

The South & Central America pharmacy automation systems market was valued at US$ 335.86 million in 2022 and is expected to reach US$ 647.28 million by 2030; it is estimated to grow at a CAGR of 8.5% from 2022 to 2030.

Rising Aging Population Fuel the South & Central America Pharmacy Automation Systems Market

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.

South & Central America Pharmacy Automation Systems Market Overview

The pharmacy automation systems market in South & Central America is segmented into Brazil, Chile, and the Rest of South & Central America. The pharmacy automation systems market has served growth opportunities in Brazil due to growing medical tourism and improving healthcare infrastructure, which is anticipated to increase the adoption of pharmacy automation systems in the region.

In Brazil, the pharmacy automation systems market is in the early stages. Nationwide, Brazilian hospitals have deployed PillPick and BoxPicker, provided by Swisslog Healthcare. Healthcare facilities in the urban areas of Brazil are well-developed and majorly operated by the private sector. Therefore, it is estimated that the private sector has adopted automated dispensing systems in their facility centers, contributing significantly to the market growth. In addition, growing spending on technological advancements and increasing government initiatives for integrating automatic dispensing machines in healthcare facilities are leading to market growth.

South & Central America Pharmacy Automation Systems Market Segmentation

The South & Central America pharmacy automation systems market is segmented based on type, end user, and country.

Based on type, the South & Central America 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 South & Central America 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 South & Central America pharmacy automation systems market is segmented into Brazil, Chile, and the Rest of South & Central America. Brazil dominated the South & Central America pharmacy automation systems market share in 2022.

Becton Dickinson and Co, Capsa Solutions LLC, Omnicell Inc, Oracle Corp, and Swisslog Healthcare AG are some of the leading companies operating in the South & Central America pharmacy automation systems market.