Latin America Pharmacy Automation Devices Market Size & Outlook
Latin America pharmacy automation devices market, 2018-2030 (US$M)
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Latin America pharmacy automation devices market highlights
- The Latin America pharmacy automation devices market generated a revenue of USD 356.1 million in 2023.
- The market is expected to grow at a CAGR of 10.6% from 2024 to 2030.
- In terms of segment, medication dispensing systems was the largest revenue generating product in 2023.
- Automated Medication Compounding Systems is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 356.1 million |
| Market revenue in 2030 | USD 722.5 million |
| Growth rate | 10.6% (CAGR from 2023 to 2030) |
| Largest segment | Medication dispensing systems |
| Fastest growing segment | Automated Medication Compounding Systems |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Packaging And Labeling Systems, Storage And Retrieval Systems, Automated Medication Compounding Systems, Tabletop Tablet Counters, Medication Dispensing Systems |
| Key market players worldwide | AmerisourceBergen Drug Corporation, Accu-Chart Plus Healthcare Systems, Omnicell Inc, McKesson Corp, Pearson Medical Technologies, Baxter International Inc, Swisslog, Health Robotics S.R.L, Becton Dickinson & Co, Kirby Lester, Oracle Corp, ARxIUM, Deenova, ScriptPro, Fulcrum Therapeutics, Medacist, IA Medical, TouchPoint Medical |
Other key industry trends
- In terms of revenue, Latin America region accounted for 5.9% of the global pharmacy automation devices market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,253.6 million by 2030.
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Pharmacy Automation Devices Market Scope
Pharmacy Automation Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America pharmacy automation devices market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to pharmacy automation devices market will help companies and investors design strategic landscapes.
Medication dispensing systems was the largest segment with a revenue share of 25.47% in 2023. Horizon Databook has segmented the Latin America pharmacy automation devices market based on packaging and labeling systems, storage and retrieval systems, automated medication compounding systems, tabletop tablet counters, medication dispensing systems covering the revenue growth of each sub-segment from 2018 to 2030.
Improving healthcare infrastructure, increasing initiatives supporting eHealth, and advancements in pharmacy automation are some of the factors driving the market. Increasing need for pharmacists to curb inventory costs, reduce medication errors, and streamline pharmacy operations are also some of the factors driving the need for pharmacy automation solutions among the end-users.
Majority of countries in Latin America are developing countries, witnessing technological advancements and groundbreaking research. The presence of untapped opportunities in emerging countries, such as Brazil and Mexico, is expected to propel the pharmacy automation market during the forecast period.
According to IFR, Mexico is considered as an emerging market for industrial robots, with sales of around 6,334 units in 2017. IFR also estimated that import of robots by Brazil increased at an annual rate of 5.3% since 2012.
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Our clientele includes a mix of pharmacy automation devices market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America pharmacy automation devices market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America pharmacy automation devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America pharmacy automation devices market size, by country, 2018-2030 (US$M)
Latin America Pharmacy Automation Devices Market Outlook Share, 2023 & 2030 (US$M)
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