Market Insight:
Market Research Future (MRFR) postulates that the global automated dispensing machines market is likely to expand at a CAGR of 8.1% during the forecast period. 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.
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.
Market Segmentation
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 Outlook
Regionally, the global automated dispensing machines market has been segmented into Europe, Asia Pacific, the Americas, as well as the Middle East & Africa.
In the Americas, the automated retail machines is further segmented into North America and South America, where the North America market is split into the United States (US) and Canada. The market in the Americas region is making huge strides in the global automated dispensing machines market due to the presence of a well-established healthcare sector, coupled with the increasing healthcare expenditure. Also, favorable reimbursement scenario along with increasing deaths owing to medical errors contributes heavily to the growth of the market in the region.
The Europe automated dispensing machines market consists of the Western Europe and Eastern Europe. Western Europe is further classified into countries, namely France, Germany, the UK, Spain, Italy, and the rest of Western Europe. Europe will be holding the second largest share in the global automated dispensing machines market owing to the burgeoning geriatric population. As per the World Population Prospects: the 2017 Revision, Europe accounted for the highest percentage of the population aged 60 or over.
The automated dispensing machines market in Asia Pacific is divided into countries such as India, Japan, China, Australia, South Korea, and the rest of Asia Pacific. The presence of a massive patient populace, elevating government funding for the healthcare sector and increasingly developing economies in the region will open up growth avenues for the market in the region.
On the other hand, the automated dispensing machines market in the Middle East & Africa is split into Middle East and Africa. The major portion of the total market in the region will be belonging to the Middle East region, on account of the growing government initiatives for the healthcare sector.
Key Vendors
Talyst, LLC, Omnicell, Inc., Becton, Dickinson and Company, Pearson Medical Technologies, LLC, Accu-Chart Plus Healthcare Systems, Inc., Avery Weigh-Tronix, ScriptPro LLC, Capsa Healthcare, Baxter, Ltd, YUYAMA Co., and Cerner Corporation are some of the well-established companies leading the global automated dispensing machines market.
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