Automated Dispensing Machines Market to register a CAGR of 10.2% and reach a value of USD 5,678 million by 2030.
Automated Dispensing Machines Market Overview:
The Automated Dispensing Machines Market is expected to grow significantly over the forecast period. It is estimated that the global automated dispensing machines market is expected to register a CAGR of 7.2% with an estimated market value of USD 7.95 billion during the forecast period from 2022-2030. Automated dispensing devices are designed for both centralized and decentralized fulfillment of individual patient prescriptions and unit-dose drug orders. This automated dispensing equipment is designed to reduce medication errors among patients.
Patient happiness, resource management, and the fast development of technology applications in healthcare, such as automated dispensing equipment, all contribute to the market's expansion. Companies are working on creating efficient automated dispensing technologies in response to rising demand. Omnicell, Inc., a prominent provider of medicine and supply management solutions to healthcare organizations, for example, completed the acquisition of Aesynt Holding Coöperatief U.A. in January 2016.
Becton, Dickinson and Company, Omnicell, Inc., ScriptPro LLC, Avery Weigh-Tronix, Pearson Medical Technologies, LLC, Accu-Chart Plus Healthcare Systems, Inc., Baxter, Capsa Healthcare, YUYAMA Co., Ltd, Talyst, LLC, and Cerner Corporation are some of the key players in the global automated dispensing machines market.
The Automated Dispensing Machines Market has been segmented into product type, and end-user.
The market, on the basis of product type, has been segmented into centralized automated dispensing systems and de-centralized automated dispensing systems.
The centralized automated dispensing system is estimated to hold the largest share owing to the rise in preference of the system and decrease in costs and errors, whereas the de-centralized automated dispensing systems accounts to be the fastest growing segment due to increased awareness among the hospitals and pharmacies.
The market, by centralized automated dispensing systems, has been further segmented into automated robotic systems and manually operated unit-dose system.
The market, by end-user, has been segmented into hospitals, pharmacy stores, laboratories, and others.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The automated dispensing machines market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European automated dispensing machines market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The automated dispensing machines market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The automated dispensing machines market in the Middle East & Africa has been segmented into the Middle East and Africa.
Automated Dispensing Machines Market Share (%), by Region, 2017
Source: World Health Organization (WHO), Centers for Disease Control and Prevention (CDC)
Regional Market Summary
Geographically, the Americas is anticipated to dominate the global automated dispensing machines market owing to a well-developed healthcare sector and growing healthcare expenditure. Additionally, favorable reimbursement scenario and increased deaths due to medical errors in this region contribute to the growth of the market. According to the data published in the British Medical Journal (BMJ) in the year 2016, there occur more than 250,000 deaths per year due to medical error in the US.
Europe is expected to hold the second largest position in the global automated dispensing machines market. The worldwide increase in the geriatric population leads to greater occurrences of chronic and life-threatening diseases and high volume of dispensing medications. Thus, hospitals and pharmacies are starting to adopt new pharmacy automation technologies to reduce their operating costs and improve patient safety. According to World Population Prospects: the 2017 Revision, Europe has the greatest percentage of the population aged 60 or over.
Asia-Pacific is anticipated to be the fastest growing region in the market due to the presence of a huge patient population, continuously developing economies and increasing government funding for the healthcare sector.
On the other hand, the Middle East & Africa has the least share of the market. Majority of the market of this region is expected to be held by the Middle East region due to growing government initiatives for the healthcare sector. Recent Development
Omnicell Inc (Omnicell) is a software company that specializes in automation and business analytics. Medication usage products, nursing floor solutions, central pharmacy solutions, operating room solutions, and medical and surgical supply items are among the company's automation solutions. It also provides blister cards, drug packaging, automated fillers, pharmacy automation systems, labeling, and medication management solutions for non-acute care items. Omnicell is based in Mountain View, California, United States.
Becton, Dickinson, and Company (BD) is a multinational medical technology firm that develops, manufactures, and distributes a wide range of medical supplies, devices, laboratory equipment, and diagnostic items. Healthcare facilities, physicians, life science researchers, clinical laboratories, the pharmaceutical business, and the general public all benefit from these items. The firm develops cutting-edge technologies that assist advance medical research and genetics, improve infectious disease and cancer diagnostics, promote infection prevention, equip surgical and interventional procedures, and support diabetic care. Domestic activities provide around 55 percent of overall revenue for the corporation.Segmentation Overview:
Automated Dispensing Machines Market, by Product Type
Automated Dispensing Machines Market, by End-User
Automated Dispensing Machines Market, by Region
|Market Size||USD 47.95 billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product Type, End User, Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Becton, Dickinson and Company, Omnicell, Inc., ScriptPro LLC, Avery Weigh-Tronix, Pearson Medical Technologies, LLC, Accu-Chart Plus Healthcare Systems, Inc., Baxter, Capsa Healthcare, YUYAMA Co., Ltd, Talyst, LLC, and Cerner Corporation|
|Key Market Opportunities||Rapid development of technology applications in healthcare. Increasing research & development investments by industry players|
|Key Market Drivers||
The automated dispensing machines market is projected to grow at an 7.2% CAGR between 2022-2030.
The automated dispensing machines market predicted to touch USD 7.95 billion by 2030.
The Americas is projected to command the largest share in the automated dispensing machines market.
Patient satisfaction and better resource management are adding market growth.
Regulatory barriers may limit market growth.