The global high volume dispensing systems market size is expected to reach USD 3.07 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 8.2% during the forecast period. Increasing number of prescriptions, growing disease burden, and recent technological advancements are some of the key drivers for the market. Rising incidence of dispensing errors is boosting the need for high volume dispensing systems in order to enhance patient safety.
Increasing
adoption of pharmacy automation systems in retail pharmacies for dispensing
large volume medications is one of the key factors fueling the demand for high
volume dispensing systems. Surging demand for faster prescription processing
and increasing government funding for the installation of these systems in
hospitals are also stoking the growth of the market. Moreover, the soaring need
for reduction in inventory discrepancies is further bolstering the demand for
these systems.
Rising
number of retail and mail order pharmacies is resulting in high volume of medication
inventory. This, in turn, is creating an upswing in the adoption rate of high
volume dispensing systems. Growing concerns regarding patient safety and
increasing investments in pharmacy automation systems are also propelling the
market. In addition, increasing demand for reduction of pharmacist workload is
further expected to augment the market over the forecast period.
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High Volume
Dispensing Systems Market Report Highlights
- High volume dispensing
cabinets emerged as the largest segment in terms of revenue in 2017 owing
to increasing demand for efficient pharmacy workflow and rapid
technological advancements
- High volume dispensing
systems in retail pharmacies commanded the largest revenue share in 2017
owing to the rising number of prescriptions and increasing demand for
reduction of pharmacy workload
- In terms of geography, North
America represented the leading revenue share in 2017. On the other hand,
Asia Pacific is estimated to register the highest CAGR over the forecast
period
- Omnicell, Inc.; McKesson
Corporation; Innovation Associates; TCGRx; and ScriptPro, LLC are the
major players operating in the market.
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High Volume
Dispensing Systems Market Segmentation
Grand View Research has segmented
the global high volume dispensing systems market on the basis of products, end
use, and country:
High Volume Dispensing
Systems Products Outlook (Revenue, USD Million, 2014 - 2025)
- Systems/Cabinets
- Software Solutions
High Volume
Dispensing Systems End-Use Outlook (Revenue, USD Million, 2014 - 2025)
- Independent pharmacies
- Hospital pharmacies
High Volume
Dispensing Systems Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- Asia-Pacific
- China
- Japan
- Latin America
- Brazil
- Mexico
- Middle East Africa
- South Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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