Automated Dispensing Machines Market To Reach USD 6.21 Billion By 2026 | Top key Players Baxter, Pyxis Corporation, Omnicell

High prevalence of emergency cases and hospitalization and the need for in-patient services along with rising awareness are the key factors contributing to the CAGR in the forecast period.

According to the current analysis of Reports and Data, The global Automated Dispensing Machine market was valued at USD 3.57 Billion in 2018 and is expected to reach USD 6.21 Billion by year 2026, at a CAGR of 7.1%. Automated Dispensing Machines are computer controlled storage units for medications. These are also called Automated Medication Dispensing Cabinets (ADC). The installation and operation of ADM significantly benefit patient care through timely and efficient dispensing of prescriptions for controlled substances. An Automated Dispensing Machine may reduce the cost of medications remaining from wastage due to discontinued drug therapy while simultaneously decreasing the amount of controlled substances that are susceptible to diversion. This machine employs the use of storage units that operates somewhat like a vending machines for the medical products, but also has a sophisticated software on the back-end that handles the patient orders, medication dosing documentation, inventory management, and billing transactions. The ADM provides proper storage, inventory control and security for pharmaceuticals at the point of care, and can only be used by authorized users who are authenticated by passwords and often biometric measures such as fingerprint readers. A rise in the number of geriatric population and hospitalization cases has increased chaos in the hospitals. Therefore, hospitals tend to have a large number of medication mismanagements thus, arousing a need a digitization. These are the key factors driving the automated dispensing machines market.

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Market Overview:

The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.

The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.

The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Automated Dispensing Machine market in these key regions.

Further key findings from the report suggest

• The rising death rate caused by consumption of expired drugs and the rapidly growing number of patients are some of the crucial factors increasing the level of complexity in the medication distribution system.

• With the rising innovation and developments, technological advancements in this field has been encouraging the market to grow. In addition to this, several governments of developing and under developed countries have been taking initiatives to promote the automated dispensing machines in order to improve efficiency in medication.

• The increasing number of cases of medication mismanagement and errors and the technological advancements are the driving factors of the market.

• There has been a demand for proper medication distribution, inventory tracking and apt inventory management leading to a rise in the demand for the automated dispensing machines.

• In-patient accounts for the highest share in the market accounting for 66.7%. This is due to the increase in the number of hospitalizations over the years. The in-patient rate is expected to rise at a CAGR of 7.4%. Out-patient segment is expected to grow at a CAGR of 6.5%.

• In case of end use, hospitals account for the highest share of the market amounting to 67.4%. This is due to the rising cases of hospitalizations and the vast availability of facilities in the hospitals. The segment is expected to register a CAGR of 7.3%. Pharmacies follow Hospitals with the second largest market share. They are expected to register a CAGR of 6.9%

• North America holds the largest market share owing to the technological advancements and awareness. It is expected to continue rising at a CAGR of 7%.

• Europe follows North America by acquiring the second largest share of the market share. It accounts for a market share of around 28%. This can be attributed to the rising cases of hospitalization in the region.

• Asia Pacific is the fastest growing region with a CAGR of 8.5%. This is because of the rising awareness, increasing cases of hospitalization due to prevalence of diseases and the several government initiatives for the promotion of the automated dispensing machines.

• The key players include Baxter, Pyxis Corporation, Omnicell, AcuDose, Capsa Solutions LLC, Accu-Chart Healthcare Systems Inc. and Pearson Medical Technologies.

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For the purpose of this report, Reports and Data has segmented the Automated Dispensing Machines market on the basis of end use, application, and region:

Application (Revenue, USD Million; 2016–2026)

• In-patient
• Out-patient

End Use (Revenue, USD Million; 2016–2026)

• Hospitals
• Pharmacies
• Drug Stores
• Others

Regional Outlook (Revenue in USD Million; 2016–2026)

• North America
o U.S.
o Canada
• Europe
o Germany
o France
o UK
o Spain
o Italy
o Rest of the Europe
• Asia Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Middle East & Africa
• Latin America
o Brazil

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