Cohortias – Latin America Pharmacy Automation Equipment Market

Brazil, Mexico, and Rest of Latin America shape the overall market in this region.
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Latin America Pharmacy Automation Equipment Market

In Mexico, the rising medical tourism offers several medical services to patients, influencing the growth of the studied market. As per WHO, the country witnessed significant errors in prescription, with approximately 77% of people suffering from these medical errors. In this regard, a rising research study on medication errors is supporting the studied market’s growth.

For instance, in December 2020, BMC Pediatrics published a study that analyzed the medical errors in pediatric critical care services during the prescription stage in a public hospital. Hence, the rise in medical errors and growing awareness about these errors is expected to widen the growth of the pharmacy automation equipment market.

As per the International Diabetes Federation data, in Argentina, a significant percentage of people had diabetes in 2020. This rise in diabetes is expected to boost the demand for pharmacy automation significantly. Additionally, the strong foothold of major players offers a wide variety of pharmacy automation systems with multiple benefits, including reduced time, affordability, patient safety, and others. Further, the Paraguay government has made several changes in its policies relating to the healthcare sector, introducing the National Health Policy 2030. This policy aims to strengthen the safety, efficiency, and rational use of medicines. Thus, all these factors are supporting the pharmacy automation equipment market’s growth.

Market Dynamics

Market Drivers

  • Growing Preference For Decentralized Pharmacy Services
  • Pharmacy Automation Rationalizing Pharmacy Operations

Market Challenges

  • Lack Of Financial Support and Reluctance In Adopting Pharmacy Automation Systems
  • Complexity In Operating Automated Dispensing Systems

Market Opportunities

  • Surging Demand For Specialty Drugs
  • Technological Advancements
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