The global automated dispensing machine market was
valued at USD 2.9 billion in 2015 and is expected to reach a value of USD 5.5
billion by 2024, according to a new report by Grand View Research, Inc. The
growing pressure on the pharmaceuticals due to reimbursement reduction and
rapidly growing drug prices leads to inefficient supply chain and inventory
management. The growing demand for automated systems, such as RFID cabinet and
barcodes, facilitates real-time inventory and stock management, which is one of
the pivotal factors expected to drive the market in the coming years.
Furthermore, the
increase in global geriatric population and prevalence of various chronic
diseases, as well as high rates of hospitalization are some of the factors
increasing the burden on pharmacy of hospitals and retail drug stores. Upsurge
in number of prescriptions and lack of skilled pharmacist are also few factors
expected to boost automation in the medication dispensing system.
According to a survey
conducted by Society of Actuaries, it was found that measurable medication
errors cost USD 20 billion to the U.S. economy, while majority of these errors
could have been easily avoided. Increase in medication dispensing errors is a
significant factor driving the number of adverse drug reactions, which may lead
to severe deterioration of the patient’s health and may also lead to death;
this is expected to drive the demand in the coming years. For instance, in the
U.S., data published by the Institute of Medicine states that around 7,000
deaths each year can be attributed to medication errors.
Access Research Report of Automated Dispensing Machine Market @ www.grandviewresearch.com/industry-analysis/automated-dispensing-machine-market
Further Key Findings From the Study Suggest:
· The inpatient segment is the leading
application segment and occupies the largest share of 74.4% in 2015. Increasing
cases of hospitalization coupled with occurrence of large number of medication
errors contribute to the growth of this segment. The outpatient segment is
expected to be the fastest growing segment during the forecast period with a
CAGR of 8.2%.
· The hospitals’ segment is the largest,
having a share of around 56.1% in 2015. Retail drug stores and pharmacies are
expected to be the fastest growing segment during the forecast period with a
CAGR of 7.8%.
· In 2015, the centralized pharmacy segment
was the largest operations segment and occupied a share of around 63.4%. The
decentralized pharmacy is expected to be the fastest growing segment during the
forecast period, with a CAGR of 8.5%.
· In 2015, North America held majority of
market share of over 53.8% in global automated dispensing machines market.
Increasing medication errors and rising demand for the overall reduction in operational
cost by streamlining medication dispensing processes are few key factors
attributed to the regions high market share.
· Some of the key market players are
Omnicell, Inc.; Becton, Dickinson & Co; Baxter; Swisslog; Parata Systems;
AmerisourceBergen Corporation. The other key competitors in the market include
Pearson Medical Technologies; Script Pro LLC; and Capsa Solutions.
Grand View Research has
segmented the automated dispensing machine market by operation, application,
end use, and region:
Application outlook (Market revenue in USD Million, 2013
- 2024)
·
Outpatient
·
In-Patient
End-Use outlook (Market revenue in USD Million, 2013 -
2024)
·
Hospitals
·
Retail drug stores and pharmacies
Operation outlook (Market revenue in USD Million, 2013 -
2024)
·
Centralized pharmacies
·
Decentralized pharmacies
Regional outlook (Market revenue in USD Million,
2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
o
Mexico
·
Middle East and Africa
o
South Africa
Access Press Release of Automated Dispensing Machine Market @: www.grandviewresearch.com/press-release/global-automated-dispensing-machine-market
About
Grand View Research
Grand View Research, Inc. is a
U.S. based Neurorehabilitation Devices Automated Dispensing Machine Market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer Neurorehabilitation Devices Automated
Dispensing Machine Market intelligence studies ensuring relevant and fact-based
research across a range of industries, from technology to chemicals, materials
and healthcare.
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