Global Automated Dispensing Machines market growth 2024, Forecast To 2033
28 Feb, 2024
The automated dispensing machines market size has shown strong growth in recent years, rising from $3.91 billion in 2023 to$4.23 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period is attributed to medication dispensing efficiency, reduction of medication errors, increasing medication volumes, regulatory compliance requirements, patient-centered care initiatives, and minimization of medication waste. The market is expected to witness strong growth, reaching $5.77 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth is driven by streamlining pharmacy workflows, telehealth and medication access, reduction in waiting times, customization of medication dosages, smart medication management systems, data analytics for medication trends, and medication therapy management programs. Major trends expected in the forecast period include integration of RFID and barcode technologies, shift toward decentralized medication dispensing, integration with electronic health records (EHR), integration of artificial intelligence (AI), focus on specialty medications, and compliance with regulatory standards.
Global Automated Dispensing Machines Market Key Driver
The rising geriatric population is expected to propel the growth of the automated dispensing machines market going forward. The geriatric population is the population aged 65 years and older. The geriatric population often suffers from various diseases because of their age factor and will need more accurate and better patient care where automated dispensing machines provide greater medication security, improved nurse access to medications, more efficient medication billing and inventory management, and potential reductions in medication errors. For example, according to ACL (Administration for Community Living), a US-based government organization, the geriatric population is expected to increase by 21.6% by 2040. Therefore, the increasing geriatric population drives the automated dispensing machines market. In 2023, the market size for automated dispensing machines is valued at X, and it is projected to reach Y by 2028.
Get A Free Sample Of The Global Automated Dispensing Machines Market ReportGlobal Automated Dispensing Machines Market Segments
The global automated dispensing machines market covered in this report is segmented –
1) By Product: Automated medication dispensing and storage system., Automated packaging and labelling systems, Automated tabletop counters, Automated medication compounding systems
2) By Application: In-patient, Out-patient
3) By Enduser: Hospitals, Pharmacies
By Geography: The regions covered in the automated dispensing machines market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the automated dispensing machines market in 2023. Asia-Pacific is expected to be the fastest-growing region in the automated dispensing machines market report during the forecast period. The regions covered in the automated dispensing machines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Automated Dispensing Machines Industry Players
Becton Dickinson and Company, Baxter International Inc., SciptPro LLC, Omnicell Inc., Accu-Chart Plus Healthcare System Inc., Pearson Medical Technologies LLC, Swisslog Holding Limited, Avery Weigh-Tronix, Talyst LLC, TouchPoint Medical, Tosho Inc., Takazono Corporation, McKesson Corporation, B. Braun Melsungen AG, Cerner Corporation, Capsa Solutions LLC, RxMedic Systems, AlixaRx, Willach Pharmacy Solutions, Newlcon Oy, Aesynt Incorporated, Musashi Engineering Inc., Techcon Systems Inc., Fisnar Inc., Tengsheng Precision Machinery Co. Ltd., M&H Plastics, CKF Inc., Pretium Packaging, New Vision Packaging, Ottmar Reisacher
Get The Full Global Automated Dispensing Machines Market ReportAutomated Dispensing Machines Market Overview
Automated dispensing machines (ADMs) are medication distribution systems that offer computer-controlled medicines storage, dispensing, and monitoring. The primary use of these machines is to increase the efficiency of medicine distribution and patient safety, and they are currently widely employed in many hospitals.
Automated Dispensing Machines Global Market Report 2023 provides data on the global automated dispensing machines market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The automated dispensing machines market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.