Automated Dispensing Machines Research Report by Product Type (Centralized Automated Dispensing Systems and De-Centralized Automated Dispensing Systems), End User (Hospitals, Pharmacy Stores, Laboratories, and Others), and Region-Global Forecast till 2023
Market Scenario
The Global 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 8.1% with an estimated market value of USD 4,931 million during the forecast period from 2018 to 2023.
Key Players
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.
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Automated dispensing machines are designed for centralized filling of individual patient prescriptions and unit-dose medication orders as well as decentralized dispensing. These automated dispensing machines are intended to decrease incidents of patient medication error. Usage of automated dispensing machines enhances the safety of administration of high-alert medications and thus assists hospitals and other users to achieve the safety goal. Several factors such as patient satisfaction, resource management, the rapid development of technology applications in healthcare, including automated dispensing devices fuel the growth of the market.
Due to the increased demand, companies are focusing on developing efficient automated dispensing devices. For instance, in January 2016, Omnicell, Inc., a leading provider of medication and supply management solutions to healthcare systems, completed the acquisition of Aesynt Holding Coöperatief U.A. The addition of Aesynt to the Omnicell company will add distinct capabilities in IV robotics, central pharmacy robotics, automated dispensing systems, and analytics. However, legislative and regulatory barriers, medication and implementation errors, may hamper the market growth during the assessment period. Also, malfunctions, power failures, or unplanned maintenance of the machines might also curb the growth of the automated dispensing machines market.
Segmentation
The Global 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.
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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.
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Intended Audience
- Pharmaceutical Companies
- Research and Development (R&D) Companies
- Diagnostic and Clinical Laboratories
- Government Research Institute
- Public and Private Pharmacies
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