Automated Dispensing Machines Market To Generate Revenue Worth $3,941.9 Million in 2030
- Published: June 2021
The rising incidence of medication errors, technological advancements, growing geriatric population, rising prevalence of chronic diseases, government initiatives to integrate automated machines in healthcare settings, and increasing number of patent approvals are the major growth drivers for the global automated dispensing machines market. Due to the aforementioned factors, the industry is projected to generate $3,941.9 million revenue in 2030, advancing at a CAGR of 9.1% during the forecast period (2021–2030).
In the beginning of 2020, due to COVID-19, patients were skeptical about going out of their homes and receive treatments for chronic ailments. Moreover, due to the rules set by governments to install automated dispensing machines in hospitals, the demand for these systems increased. This was a great measure to maintain social distancing and ensure proper administration of medication to patients. This measure is leading to the growth of the automated dispensing machines industry in present times.
In-Patient Category Held Larger Share in Market during Historical Period
The automated dispensing machines market is categorized into in-patient and out-patient, on the basis of application. Of these, the in-patient category dominated the market during the historical period (2015–2020), and it is expected to retain its dominance during the forecast period. Due to the increase in the prevalence of chronic diseases, the demand for automated dispensing machines in in-patient settings has risen considerably.
Moreover, the automated dispensing machines market is categorized into decentralized and centralized, on the basis of type. Out of these, the decentralized category is expected to witness the faster growth during the forecast period. This will primarily be due to the rising number of hospitals witnessing an increasing rate of patient hospitalization, which is why they are procuring decentralized automated dispensing systems.
North America was the largest contributor to the automated dispensing machines market in 2020. This is mainly attributed to the presence of established players, improving healthcare infrastructure, and booming geriatric population. The Asia-Pacific (APAC) region is expected to witness the fastest growth during the forecast period owing to the betterment of the healthcare infrastructure in the region and rising focus of market players on expanding in emerging economies, including China and India.
Mergers and Acquisitions Are Most-Effective Strategic Measures Taken by Market Players
Players in the global automated dispensing machines market have been involved in mergers and acquisitions to gain a significant position. For instance, in November 2020, Becton, Dickinson and Company acquired the medical business of CUBEX LLC, which is a private company that develops cloud-based software offerings for advanced medication management. Through this strategic acquisition, the BD Pyxis automated dispensing cabinet was brought together with the MedBank cloud-based software and analytics platform of CUBEX LLC, to enable patient-centered care beyond acute-care settings.
Similarly, in August 2020, Capsa Healthcare announced the acquisition of RoboPharma B.V., a pharmacy automation system provider in the Netherlands. RoboPharma B.V. delivers customized high-speed prescription filling solutions for community pharmacies, hospitals, wholesalers, and central fill operations. Under the agreement, RoboPharma’s management and engineering teams will remain with the company to maintain continuity across its strategic focus, innovative momentum, and inventive vision, and it will also be leveraged to expand Capsa Healthcare’s international reach.
The major players operating in the automated dispensing machines market are Becton, Dickinson and Company, Baxter International Inc., Omnicell Inc., ScriptPro LLC, Talyst LLC, TouchPoint Medical, ArxIUM, Tosho Inc., AlixaRx, Takazono Corporation, McKesson Corporation, Pearson Medical Technologies LLC, Capsa Healthcare, Swisslog Holding AG. Willach Pharmacy Solutions, Newlcon Oy, and Accu-Chart Plus Healthcare Systems Inc.