Overview

Automated Pharmacy Dispensing Systems Market Introduction

Automated Pharmacy Dispensing Systems Market is estimated to value over US$ 2.7 billion by the end of 2027 and grow at a CAGR of over 7.5% during the forecast period of 2020-2027.

A computer-controlled system used for tracking, storing and dispensing medicine is known as an automated dispensing system or an automated drug cabinet which is essentially an electronic medicine store. It is one of the most recommended instruments for improving patient safety and efficiency. They are used in clinics, hospitals nursing homes in various departments, for instance, diagnostic labs, Accident and Emergency department (A&E), Critical Care Unit (CCU) and Intensive Care Unit (ICU). Automated dispensing systems has a fine balance of being user-friendly, secure, in managing inventory and medication control which are all considered as important and necessary features for an efficient medication distribution system and these are the features that boost the global market.

Integration of artificial intelligence and robotics into dispensing systems led to the rapid evolution of the automated process. It improved the workflow of dispensing process and reduced the pharmacy errors at the point of use. Along with this, automated dispensing systems provide real-time data for better management of the dispensing process. It can dispense up to 30%-60% of prescriptions daily and increases operation efficiency, reduce dispensing costs, optimize drug inventory and enhance patient care. Recent advancement in technologies led to the development of centralization of medication dispensing and supports mail orders central filling programs. All with these, they offer unparalleled accuracy and quality to the dispensing process. All these features broaden the capabilities and led to the evolution of multiple modality systems. All these factors led to the burgeoning growth of the market during the forecast period.

Global market is dominated by developed economies like North America and Europe. North America accounts for a major share in the global market due to the high adoption of technologies in healthcare systems. It is followed by the Europe market due to the rapid integration of technologies. The Asia Pacific is a fast growing region due to increasing adoption during the forecast period. It is expected to witness a new player’s entry due to increasing opportunities. It is Latin America and Rest of World accounts a small fraction of the global market due to highly untapped market because of low adoption.

Automated Pharmacy Dispensing Systems market players include
ScriptPro LLC, McKesson Corporation, Swisslog Holding Ltd., Omnicell, ARxIUM, Care Fusion Corporation, AmerisourceBergen Corporation, and others.

Automated Pharmacy Dispensing Systems Market

Automated Pharmacy Dispensing Systems Market Segmentation:

By Systems

Centralized Automated Dispensing Systems
Decentralized Automated Dispensing Systems

By End User

Hospitals
Outpatient Centres
Clinics
Medical Institutes

By Region

North America
Latin America
Europe
Asia Pacific
Rest of the World

Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants

FutureWise Key Takeaways:
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth

Objectives of the Study:
• To provide with an exhaustive analysis on the global Automated Pharmacy Dispensing Systems Market by Systems, by End User, and by Region.
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies