Global Automated Drug Kiosk Market Set to Skyrocket, Projected to Reach Over US$ 26.1 Billion by 2031

The Global Automated Drug Kiosk market is poised for significant growth, with a projected Compound Annual Growth Rate (CAGR) of 13.8% from 2023 to 2031. In 2022, the industry was valued at US$ 8.3 billion, and it is expected to exceed US$ 26.1 billion by the end of 2031, according to a comprehensive report on the industry's outlook.

𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗳𝗼𝗿 𝗮 𝘀𝗮𝗺𝗽𝗹𝗲 𝗼𝗳 𝘁𝗵𝗶𝘀 𝗿𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗿𝗲𝗽𝗼𝗿𝘁 𝗮𝘁 (𝗨𝘀𝗲 𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲 𝗠𝗮𝗶𝗹 𝗜𝗱 𝗳𝗼𝗿 𝗤𝘂𝗶𝗰𝗸 𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗲) -

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Key Drivers of Growth

One of the primary drivers of this remarkable growth is the increasing adoption of automated drug kiosks by pharmacists. In an effort to enhance efficiency and convenience for patients, numerous healthcare institutions and providers are turning to automated drug kiosks. For instance, Changi General Hospital (CGH) launched the Pharmacy Smart Interface System (PharmaSIS) in June 2023, allowing patients to purchase pharmacy-only medicines through a vending machine after teleconsultation. The efficiency of such systems in patient management and revenue generation at minimal costs is driving their adoption.

Cost-Effective Initiatives by Employers

Another key driver is the rise in cost-effective initiatives by employers. Rising healthcare costs, including prescription drugs and medical procedures, have prompted employers to seek innovative solutions. Startups like Qmed Asia introduced telehealth kiosks for corporate employers, offering remote online health consultations and diagnoses by licensed General Practitioners (GPs). These kiosks, equipped with cloud-connected medical IoT devices, aim to reduce overhead costs and improve healthcare accessibility and quality for employees.

𝗕𝘂𝘆 𝘁𝗵𝗶𝘀 𝗣𝗿𝗲𝗺𝗶𝘂𝗺 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁 | 𝗜𝗺𝗺𝗲𝗱𝗶𝗮𝘁𝗲 𝗗𝗲𝗹𝗶𝘃𝗲𝗿𝘆 𝗔𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲 𝗮𝘁 -

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Regulatory Approval for Prescription Medicines

Approval by regulatory bodies to allow the sale of prescription medicines through drug kiosks has been instrumental in driving market growth. Companies are expanding their reach into remote areas with limited pharmacy access. For example, ScriptCenter installed its automated drug kiosk system at the 366th Medical Group on Mountain Home Air Force Base in Idaho, offering access to prescription drugs 24/7.

Regional Outlook

North America dominated the global automated drug kiosk market in 2022, accounting for 57% of the market share. The presence of key players and a high adoption rate are driving this dominance. In Asia Pacific, the market is projected to grow due to significant technological advancements. Companies like Docty are installing health kiosks across India to improve healthcare access in rural and impoverished urban communities.

Key Players

The global automated drug kiosk market is consolidated, with both technology-driven startups and established companies participating. Key players in the market include MedAvail Technologies, Inc., Smart RX Systems, MedifriendRx, American RX Group, Stericycle, Inc., Omnicell, Inc., ScriptPro LLC, Becton, Dickinson and Company, Bell and Howell LLC., and PickPoint. These companies are actively engaged in strategies such as mergers & acquisitions, partnerships, and new product launches to expand their industry presence.

𝗠𝗼𝗿𝗲 𝗧𝗿𝗲𝗻𝗱𝗶𝗻𝗴 𝗥𝗲𝗽𝗼𝗿𝘁𝘀 𝗯𝘆 𝗧𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 -

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𝐇𝐚𝐯𝐞 𝐀𝐧𝐲 𝐐𝐮𝐞𝐫𝐲? 𝐀𝐬𝐤 𝐎𝐮𝐫 𝐄𝐱𝐩𝐞𝐫𝐭𝐬:

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