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.
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
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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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