Medication Dispenser Market Expected To Account US$ 1,100 Mn By 2025
Reformation in healthcare policies across various countries has resulted in enhancement of healthcare services, favoring the adoption of medication dispenser in hospitals. The change in the quality of healthcare services provided to patients is mainly ascribed to ongoing technological advancements, which is simultaneously elevating the effectiveness of healthcare systems. Such positive alterations are helping healthcare organizations to increase productivity as well as mitigate healthcare costs and medical errors.
Further, hospitals are bound to offer quality care to patients in order to stay competitive. Increasing adoption of novel medical technologies such as Electronic medical record (EMR), Pharmacy Information Systems (PIS), and Laboratory Information Systems (LIS) has led to the automation of various procedures in hospitals.
Factors as such are anticipated to support the growing use of medication dispenser in ambulatory surgical centers, hospitals and nursing homes.
Moreover, the need to eliminate manual task of dispensing medicines is further boosting the demand for medication dispensing systems of late. As per the latest report published by Persistence Market Research, the global medication dispenser market will reach a valuation of US$ 1,824.7 Mn, riding at a CAGR of 7.0% over the forecast period (2017–2025).
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PMR’s report, titled “Medication Dispenser Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)” also cites that the medication dispenser market in North America will retain its top spot over the forecast period. The region is expected to account for nearly 64.3% revenue share of the global market by 2017-end. This is primarily owing to the rising geriatric population and availability of highly accurate medication services in the region.
During this eight years of the forecast, the region is projected to expand at a CAGR of 7.2% and reach a market valuation of US$ 1,187.1 Mn. In addition, the contribution of the U.S. in the region’s market will remain exceptionally high throughout the assessment period.
Meanwhile, APEJ is expected to register the fastest CAGR of 8.2% over 2025, primarily due to increasing per capita income and a greater healthcare reach in many of the emerging countries in the region.
Additional Highlights of the Report Include:
- On the basis of product type, pharmacy based ADSs currently hold the largest share of the global medication dispenser market in terms of revenue, and the trend is projected to continue throughout the forecast period. Pharmacy based ADSs are anticipated to account for 55.4% share of the market over the forecast period, expanding at a CAGR of 7.5%.
- By end-user, demand for medication dispenser is expected to remain robust from hospital pharmacies in 2017 and beyond. Hospital pharmacies are anticipated to account for around 61.9% share of the global market over 2025.
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- Becton, Dickinson and Company
- Omnicell Inc.
- Cerner Corporation
- Capsa Solution LLC
- InstyMeds Corporation
- PARATA SYSTEMS, LLC
- TriaTech Medical Systems Inc.
- ARxIUM Inc.
- ScriptPro LLC
- YUYAMA Co.,Ltd
- Howard Industries, Inc.
- Swisslog Holding AG
- Robotik Technology
- Tema Sinergie
- Synergy Medical
- Accu-Chart Plus Healthcare Systems, Inc.
- Medipense Inc.
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Many of these companies are actively engaging in mergers, acquisitions and partnerships in order to strengthen their product portfolio and increase market share.