Global Automatically Medication Dispenses Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Automatically Medication Dispenses Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

An automated medication dispensing machine (ADM) is a computer-controlled machine that functions to store, dispense, and track medications in a medical facility.

Market Overview:

The latest research study on the global Automatically Medication Dispenses market finds that the global Automatically Medication Dispenses market reached a value of USD 2749.87 million in 2023. It’s expected that the market will achieve USD 4923.98 million by 2029, exhibiting a CAGR of 10.2% during the forecast period.

Rising demand for nursing care drives Automatically Medication Dispenses market

The United Nations Department of Economic and Social Affairs (UNDESA) pointed out in the Key Points of World Population Aging in 2020 that the global population aged 65 and above was 728 million in 2020, and is expected to reach 1.5 billion by 2050. According to The Health and Retirement Study, the number of people aged 50 and older in the United States with at least one chronic disease is expected to increase from 71.522 million in 2020 to 14,266 in 2050, an increase of 99.5%. Increasing aging has led to an increase in the global burden of chronic diseases. As the population ages, the prevalence of chronic diseases such as diabetes, cardiovascular disease, and respiratory diseases increases, requiring patients to use multiple medications every day. The increase in patients with chronic diseases has led to an increase in the demand for care, and Automatically Medication Dispenses can improve patient safety and reduce medication errors during the care process, and can also help patients with medication management and compliance. Therefore, the increasing demand for nursing care is driving the development of the Automatically Medication Dispenses market.

Region Overview:

North America is projected to account for a considerable share of the Automatically Medication Dispenses market and is expected to become the largest region by 2028.

Company Overview:

Becton is one of the major players operating in the Automatically Medication Dispenses market, holding a share of 17.47% in 2023.

BD is one of the largest global medical technology companies in the world and is advancing the world of health by improving medical discovery, diagnostics and the delivery of care. The company supports the heroes at the front of healthcare by developing innovative technology, services and solutions that help advance both clinical therapy for patients and clinical processes for healthcare providers. BD and its 65,000 employees have a passion and commitment to help improve patient outcomes, improve the safety and efficiency of clinicians’ care delivery process, enable laboratory scientists to better diagnose disease and advance researchers’ capabilities to develop the next generation of diagnostics and therapeutics. BD has a presence in virtually every country and partners with organizations around the world to address some of the most challenging global health issues. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase efficiencies, improve safety and expand access to health care.

Segmentation Overview:

By type,Centralized Automated Dispensing Systems segment accounted for the largest share of market in 2022.

Centralized Automated Dispensing Systems The centralized medication delivery model relies on pharmacies to process orders for each drug and then send the same day's supply to patient care areas. In these systems, the facility's medication room typically stores only a small amount of medication for on-demand use.

While centralized drug distribution is largely standard in the United States, it only took an emergency for health care professionals to realize its limitations, and now hospitals in the U.S. and around the world are taking a more decentralized approach.

Decentralized Automated Dispensing Systems A decentralized medication distribution system is defined as a method in which hospital pharmacies stock large quantities of medications so that nurses can distribute them to patients once a doctor orders a treatment plan.

In these scenarios, as more hospitals adopt decentralized distribution models, there are also some changes in pharmacies. They typically require multiple tower dispensers (auxiliary and primary) and enough refrigeration space to hold the required medications, such as coronavirus vaccines. These decentralized medication rooms are becoming larger to accommodate multiple medication dispensers, wall storage, counters, sinks, and other necessary accommodations.

Application Overview:

By application, the Hospitals segment occupied the biggest share from 2018 to 2022.

Hospitals In recent years, hospitals and healthcare organizations have been adopting technology to improve patient care and improve performance. The introduction of automated dispensing systems in hospital settings offers many advantages over manual systems. As part of increasing efficiency, hospitals are decentralizing dispensing functions so they are closer to patients and available at the point of care.

Seniors Care and Assisted Living Most older adults in the United States have chronic medical conditions that require multiple medications and different dosing regimens. Unfortunately, errors and noncompliance with medication dosing and medication taking times can lead to a host of harmful outcomes, ranging from illness to even death. Automatically Medication Dispenses are designed to help older adults and their caregivers overcome this barrier efficiently and effectively.

Long Term Care Centers Improve medication supply, increase efficiency and minimize medication waste. The fragmentation of care away from hospitals and into other care facilities, coupled with an aging population, has increased the need for greater efficiency in long-term care (LTC) facilities. Automated on-site medication packaging and dispensing improves workflow efficiency in long-term care center facilities and pharmacies by improving medication access, significantly reducing medication waste, and reducing time to prepare medical passes.

Key Companies in the global Automatically Medication Dispenses market covered in Chapter 3:

PharmRight Corporation
Swisslog healthcare
Philips
Becton
Baxter International
Yuyama
MedReady
TabTimer
Optimize Health
MedMinder

In Chapter 4 and Chapter 14.2, on the basis of types, the Automatically Medication Dispenses market from 2019 to 2030 is primarily split into:

Centralized Automated Dispensing Systems
Decentralized Automated Dispensing Systems

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Automatically Medication Dispenses market from 2019 to 2030 covers:

Seniors Care and Assisted Living
Long Term Care Centers
Home Care Settings

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)