Global Automated Dispensing Machines Market - 2024-2031

Global Automated Dispensing Machines Market - 2024-2031

The global automated dispensing machines market reached US$ 5.06 billion in 2023 and is expected to reach US$ 8.62 billion by 2031, growing at a CAGR of 6.9% during the forecast period 2024-2031.

Automated dispensing machines (ADMs) are advanced computerized devices designed to dispense medications in a controlled manner, greatly minimizing the risk of errors associated with manual dispensing processes. By incorporating technology into medication management, healthcare facilities can improve operational efficiency while simultaneously ensuring patient safety and satisfaction.

Automated dispensing machines provide secure medication storage in patient care units. ADMs enhance the accuracy of medication dispensing by minimizing human error and reducing the risk of mislabeling or incorrect dosages. They are equipped with advanced technologies such as barcode scanning and computerized tracking to ensure that the correct medications are provided to the right patients.

Market Dynamics: Drivers & Restraints

Increasing incidence of medical errors

The increasing incidence of medical errors is expected to drive the automated dispensing machines market. Medication errors present significant risks to patient safety, prompting healthcare providers to pursue solutions that improve the accuracy of medication dispensing.

To reduce medical errors healthcare providers are adopting several automated dispensing solutions that are expected to drive the market. According to the publication in the National Institute of Health in 2023, it is mentioned that according to a Swiss study comparing ADCs with traditional ward stocks found that ADCs can significantly reduce dispensing errors from 5 to 1%. Another study conducted in Taiwan found that dispensing errors were reduced by 75% after the adoption of ADCs, even though ADCs were used to dispense prescriptions with only stat orders.

Innovations in technology, particularly within automated dispensing machines (ADMs), are enhancing their ability to minimize these errors. Features such as advanced analytics and machine learning capabilities are being integrated into ADMs, further increasing their effectiveness in ensuring safe and precise medication administration.

There is a growing technological advancements in automated dispensing systems that reduce medical errors. Companies are advancing their solutions to provide their customers with efficient solutions. For instance, in April 2024, Omnicell launched its XT Amplify, a multi-year innovation project that aims to optimize the current pharmacy care delivery model by enhancing the existing XT Automated Dispensing Systems in their client’s healthcare facilities.

In October 2023, JVM, Hanmi Science independently developed and launched a next-generation automated drug dispensing machine equipped with a robotic arm in the European market. JVM further announced that it had entered a supply contract in the Netherlands with Brocacef.

High Initial Investment

One of the primary challenges facing the adoption of automated dispensing machines is the substantial initial investment required for their purchase and implementation. These systems typically entail significant upfront costs, which include not only the acquisition of hardware but also software integration and installation expenses. Smaller healthcare facilities and pharmacies, particularly those operating under tight budget constraints, may struggle to allocate the necessary capital for such an investment. This financial burden can hinder their ability to adopt advanced medication management solutions.

Segment Analysis

The global automated dispensing machines market is segmented based on type, size end-user, and region.

Product Type:

Decentralized segment is expected to dominate the global automated dispensing machines market share

The decentralized segment is expected to hold the dominant position in the global automated dispensing machines market. This is due to their ability to enhance medication management and improve patient safety. These systems allow medications to be stored closer to the point of care, significantly reducing the time healthcare professionals need to access necessary medications. This rapid availability is particularly crucial in emergencies, where timely medication administration can directly impact patient outcomes.

For instance, studies have shown that hospitals using decentralized automated dispensing cabinets have experienced a reduction in medication administration errors by up to 75%, underscoring the effectiveness of these systems in enhancing patient safety and overall care quality.

Geographical Analysis

North America is expected to hold a significant position in the global automated dispensing machines market share

North America holds a dominant position in the global automated dispensing machines market and is expected to hold the major portion of the market during the forecast period. North America's anticipated dominance in the automated dispensing machines market is driven by high adoption rates of automation, technological innovations, and favorable market growth projections. As healthcare providers continue to recognize the benefits of ADMs in enhancing operational efficiency and improving patient outcomes, the region is poised for sustained growth in this sector.

Increasing technological advancements are expected to drive the region’s automated dispensing machines. Market players are innovating advanced solutions that meet the needs and demands of pharmacies and hospitals. For instance, in March 2024, Nordson EFD introduced the new GVPlus and PROX families of automated fluid dispensing products. Both robotic solutions share a focus on motion, workspace, repeatability, payload, setup, and vision technology enhancements.

Additionally, the presence of numerous key players in the region further supports market growth, fostering innovation and competition within the automated dispensing machines landscape.

Competitive Landscape

The major global players in the automated dispensing machines market include Omnicell, Nordson Corporation, Baxter, bdtronic, Capsa Healthcare, TouchPoint Medical, McKesson Medical-Surgical Inc., Swisslog Healthcare, ARxIUM and ScriptPro LLC among others.

Why Purchase the Report?
• Pipeline & Innovations: Reviews ongoing clinical trials, and product pipelines, and forecasts upcoming advancements in medical devices and pharmaceuticals.
• Product Performance & Market Positioning: Analyzes product performance, market positioning, and growth potential to optimize strategies.
• Real-World Evidence: Integrates patient feedback and data into product development for improved outcomes.
• Physician Preferences & Health System Impact: Examines healthcare provider behaviors and the impact of health system mergers on adoption strategies.
• Market Updates & Industry Changes: Covers recent regulatory changes, new policies, and emerging technologies.
• Competitive Strategies: Analyzes competitor strategies, market share, and emerging players.
• Pricing & Market Access: Reviews pricing models, reimbursement trends, and market access strategies.
• Market Entry & Expansion: Identifies optimal strategies for entering new markets and partnerships.
• Regional Growth & Investment: Highlights high-growth regions and investment opportunities.
• Supply Chain Optimization: Assesses supply chain risks and distribution strategies for efficient product delivery.
• Sustainability & Regulatory Impact: Focuses on eco-friendly practices and evolving regulations in healthcare.
• Post-market Surveillance: Uses post-market data to enhance product safety and access.
• Pharmacoeconomics & Value-Based Pricing: Analyzes the shift to value-based pricing and data-driven decision-making in R&D.

The Global Automated Dispensing Machines market report delivers a detailed analysis with 60+ key tables, more than 50 visually impactful figures, and 176 pages of expert insights, providing a complete view of the market landscape.

Target Audience 2023
• Manufacturers: Pharmaceutical, Medical Device, Biotech Companies, Contract Manufacturers, Distributors, Hospitals.
• Regulatory & Policy: Compliance Officers, Government, Health Economists, Market Access Specialists.
• Technology & Innovation: AI/Robotics Providers, R&D Professionals, Clinical Trial Managers, Pharmacovigilance Experts.
• Investors: Healthcare Investors, Venture Fund Investors, Pharma Marketing & Sales.
• Consulting & Advisory: Healthcare Consultants, Industry Associations, Analysts.
• Supply Chain: Distribution and Supply Chain Managers.
• Consumers & Advocacy: Patients, Advocacy Groups, Insurance Companies.
• Academic & Research: Academic Institutions.