Pharmacy Dispensing Machines Market will be growing at a CAGR of 7.3% during the forecast 2018 to 2026

The latest market report published by Acute Market Reports, Inc. “Global Pharmacy Dispensing Machines Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global pharmacy dispensing machines market was valued at US$ 3,222.2 Mn in 2017, and is expected to reach US$ 6,023.2 Mn by 2026, expanding at a CAGR of 7.3% from 2018 to 2026.

Market Insights

Every year billions of dollars are wasted by the healthcare agencies throughout the globe due to medication non-compliance of patients. IT healthcare companies are collaborating with medical device manufacturers to build state of the art pharmacy dispensing machines ranging from manually operated to fully automated machines ensure that patients receive their prescribed medications. It is an eminent requirement to improve patient satisfaction, eliminate medication errors related severe adverse events and automate state reporting.

Browse Full Report Originally Published by Acute Market Reports at https://www.acutemarketreports.com/report/pharmacy-dispensing-machines-market

An in-patient is leading the application segment for pharmacy dispensing machines market. Proactive government policies to promote excellent medical facilities for patients at primary healthcare centers give positive impetus to the in-patient market growth. Outpatient market will be registering fastest growth in the application segment on account of technological advancement in the medication dispensing machines and rampant growth in patients availing long term palliative care in-home and rehabilitation centers.

Hospital pharmacies are presently reigning the end-user segment for pharmacy dispensing machines market. Frequent medication errors and rampant increase in the number of patients visiting healthcare centers drive the hospital pharmacies market growth. Retail pharmacies will be imposing optimistic growth during the forecast period from 2018 to 2026 owing to the stringent government norms pertaining to medicine inventory and the untapped market of remote locations.

North America is currently having a 54% market share and dominating the geographical segment for pharmacy dispensing machines market. Rising public health awareness and affordable reimbursement scenario for medicines prescribed at hospital pharmacies drive the market growth in North America. Domicile of major competitors such as Omnicell, Inc., ScriptPro LLC., InstyMeds, etc. further consolidates pharmacy dispensing machines market growth in North America. Europe accounts for 26% market share in the pharmacy dispensing machines market. Technological innovations associated with the medicine dispensing system and prime focus to reduce complexities associated with the medicine distribution system propel the market growth in Europe. The Asia Pacific represents 9% market growth owing to the rising prevalence of chronic disease and lack of skilled workforce to dispense appropriate medicines with accurate dosage.

Key Market Movements:

• Rampant growth in hospitals throughout the globe catering huge population base suffering from chronic illness
• Government financial support towards maintaining medicine inventories and technological advancement in medicine dispensing systems
• Burgeoning requirement to reduce healthcare cost burden and minimize medication errors causing severe adverse events

List of Companies Covered:

• ARxIUM, Inc.
• Becton Dickinson and Company
• Cerner Corporation
• InstyMeds
• KUKA AG
• MedAvail Technologies, Inc.
• Omnicell, Inc.
• Pearson Medical Technologies, LLC
• RxSafe, LLC
• ScriptPro LLC

Market Segmentation:         

By Application Type

 • In-Patient

 • Outpatient

 By End Users Type

 • Hospital Pharmacy

 • Retail Pharmacy

By Geography Segment Type

• North America (the U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa, Latin America)