Market Scenario
Automated Dispensing Machines Market Size was valued at USD 2.6 billion in 2022.The Automated Dispensing Machines market is anticipated to grow significantly, from USD2.8652 billion in 2023 to USD 6.3 billion by 2032. This represents a robust compound annual growth rate (CAGR) of 9.8% during the forecast period 2023 - 2032. Patient satisfaction across the globe is likely to favor its growth. Automated dispensing machines are specifically designed for the centralized filing of individual patient prescription along with unit-dose medication and decentralized dispensing. The automated dispensing machines aim towards decreasing the prevalence of patient medication error. The utilization of automated dispensing machines further assists the hospitals to achieve the safety goal.
Competitive Dashboard
The prominent players operating in the global automated dispensing machines market comprises Dickinson and Company, Becton, ScriptPro LLC, Omnicell Inc., Pearson Medical Technologies LLC, Avery Weigh-Tronix, Baxter, Accu-Chart Plus Healthcare Systems Inc., YUYAMA Co. Ltd, Capsa Healthcare, Cerner Corporation, and Talyst LLC.
Market Potential and Pitfalls
The automated dispensing machines market is expanding at breakneck speed owing to resource management, patient satisfaction, and the rapid development of technology in the healthcare sector. The surging demand for automated dispensing machines market has led the companies to focus on developing effective automated dispensing equipment. For instance, Omnicell, Inc. completed the acquisition of Aesynt Holding Coöperatief U.A in January 2016. The acquisition has added distinct capabilities in central pharmacy robotics, IV robotics, analytics, and automated dispensing systems.
The surging number of initiatives by the government supporting the pharmacists and the healthcare institutes in order to make high use of technologically advanced medication dispensing system to limit the medication errors is estimated to fuel the demand for automated dispensing machines market during the appraisal period. According to the American Society of Health System Pharmacists, the hospitals spend almost 70% on their pharmacy department. Moreover, the augmenting rate of death owing to the consumption of expired drugs and the rapid increase in the number of patients are some of the factors contributing to the growth of the market globally. The dearth of therapeutic trainings, inadequate perception of risks, and poor communication between the patients and the healthcare professionals are adding up to the market growth.
On the contrary, the regulatory and legislative barriers coupled with the implementation and medication barriers are considered to vitiate the market growth across the globe. Power failures, malfunctions, and unplanned maintenance of the machines are some of the top barriers likely to curb the market growth in the long run.
Global Automated Dispensing Machines Market: Segmental Analysis
The global automated dispensing machines market has been segmented on the basis of product type, and end-user.
By mode of product type, the global automated dispensing machines market has been segmented into centralized automated dispensing systems and de-centralized automated dispensing systems. Among these, the centralized automated dispensing system is assumed to amass the largest share in the global market owing to the rising preference of these systems coupled with the reduction in errors and costs.
By mode of end-users, the global automated dispensing machines market has been segmented into pharmacy stores, hospitals, laboratories, and others. Among these, the hospitals segment is likely to command the largest share owing to increased healthcare expenditure, rising patient population, and surging prevalence of chronic diseases.
Regional Insights
Geographically, the automated dispensing machines market span across regions namely, America, Europe, Asia Pacific, and the Middle East & Africa.
Considering the global scenario, the American region is estimated to dominate the global automated dispensing machines market due to the presence of a well-developed healthcare infrastructure and surging expenditure on healthcare. The rising death rate in the recent years and favorable reimbursement policies due to medical errors are likely to contribute to the market growth in this region. As per a data published in the British Medical Journal, there have been 250,000 deaths per years.
The European region is likely to occupy the second spot in the global market. The growth can be ascribed to the increasing geriatric population across the world which has resulted in increased life-threatening and chronic diseases. Pharmacies and hospitals have thereby started to adopt new pharmacy automation technologies in order to improve the safety of the patients and reduce the operating costs.
The Asia Pacific region is likely to expand at the fastest rate during the appraisal period. The presence of a huge patient population base, rising funding by the government for the healthcare sector, and constantly developing nations in this region has led to the market growth.
About US:
Market Research Future (MRFR), enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York,
New York 10013
United States of America