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Automated Dispensing Machines Market Report Displays the Production, Revenue, Market Share and Growth Rate - P&S Intelligence

05-03-2019 06:35 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: P&S Intelligence

automated dispensing machines

automated dispensing machines

Automated dispensing machines market is expected to generate a revenue of $2.3 billion by 2024, advancing at a CAGR of 7.8% during the forecast period, according to P&S Intelligence.
Rising incidence of medication errors, technological innovations and advancements, growing geriatric population, rising prevalence of chronic diseases, government initiatives to integrate automated dispensing machines in healthcare settings, and growing number of patent approvals for automated dispensing machines are some of the major factors driving the growth of the market.

Access Detailed Report Summary: https://www.psmarketresearch.com/market-analysis/automated-dispensing-machines-market

Geographically, North America holds the largest share in the automated dispensing machines market, with an estimated contribution of 40.8% to the market in 2018, and is projected to generate $919.5 million revenue by 2024. This can be mainly attributed to the improved healthcare infrastructure, presence of established players, and surging geriatric population in the region.

During the forecast period, the automated dispensing machines market is expected to witness the fastest growth in APAC, with 9.3% CAGR, mainly on account of the improving healthcare infrastructure in the region and the increasing focus of market players on developing countries, such as China and India, for business expansion.

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Initiatives implemented by government organizations to install automated dispensing systems in healthcare settings have increased the demand for such systems in APAC. For instance, the Central Medical Services Society (CMSS) of India is encouraging installation of automated dispensing systems in rural parts of the country. With the support of CMSS, automated medication systems are installed in several states of the country. These systems dispense free of cost general prescribed medicines.

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Acquisitions and collaborations among prominent players have dominated the automated dispensing machines market in the recent times. For instance, in July 2018, NYU Langone Health Hospital extended its strategic partnership with Omnicell Inc. for the installation of Omnicell XT automated medication dispensing cabinets, anesthesia workstation, and controlled substance manager in the hospital.

Major key players operating in the global automated dispensing machines market are Becton, Dickinson and Company; Omnicell Inc.; ScriptPro LLC; Pearson Medical Technologies LLC; Capsa Healthcare; Talyst LLC; McKesson Corporation; Newlcon Oy; TouchPoint Medical Inc.; and ARxIUM.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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