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North America Automated Dispensing Systems Market Forecast to 2027 – COVID-19 Impact and Regional Analysis by Operation ; Application ; End User, and Country

North America Automated Dispensing Systems Market Forecast to 2027 – COVID-19 Impact and Regional Analysis by Operation ; Application ; End User, and Country

  • October 2020
  • 78 pages
  • ID: 5989566
  • Format: PDF
  • The Insight Partners

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The North America automated dispensing systems market accounted to US$ 814.69 million in 2019 and is anticipated to grow at a CAGR of 7.8% to account for US$ 1,479.76 million by 2027.

The growth of North America automated dispensing systems market is attributed to the factors such as large usage of automated dispensing systems in pharmacies, high awareness for automated systems, increasing prevalence of chronic diseases, and growing geriatric population.Secondary growth drivers are product innovations and increasing rate of hospitalization.

However, problems associated with automated dispensing systems such as equipment breakdown and placing wrong program input are likely to pose a negative impact on the market growth.

In the wake of the increasing incidence of deaths caused by medication errors, government agencies across the world have started encouraging hospitals and pharmacies to implement advanced technologies for dispensing accurate dosage of medicines to manage medical conditions effectively.

Hospitals are adopting advanced technologies such as automated dispensing systems to store, dispense, and track medicines to improve efficiency and patient safety.These systems enhance the efficiency of medication distribution and also minimize the medication errors in hospitals.

As the majority of geriatric population suffers from various chronic diseases, there is increase in the demand for advanced medication.The emerging markets in the developing countries are giving better opportunity for the market players to expand their business.

Several companies are actively involved in developing novel and advanced medication management solutions for hospitals and pharmacies and applying error-free, fully automated medication management systems, with a strong focus on workflow of automated dispensing system.

Based on operation, the North America automated dispensing systems market is segmented into decentralized systems and centralized systems. The centralized systems segment held the larger share of the market in 2019; however, decentralized system is anticipated to register the higher CAGR in the market during the forecast period.

Based on application, the North America automated dispensing systems market is segmented into in-patient automated dispensing and out-patient automated dispensing. The in-patient automated dispensing segment held a larger share of the market in 2019; however, out-patient automated dispensing is anticipated to register a higher CAGR in the market during the forecast period.

Based on end user, the North America automated dispensing systems market is segmented into hospital pharmacies, retail pharmacies, and others. The hospital pharmacies segment held the largest share of the market in 2019; however, the retail pharmacies segment is registered to dominate the segment at the highest CAGR in the market during the forecast period.

However, the COVID-19 pandemic is perplexing healthcare institutions in the region with unprecedented operational and clinical challenges showing a negative impact on market growth. Research institutes, pharmaceutical, and biotech companies are engaged in collaborative work to address the COVID-19 outbreak.

Some of the major primary and secondary sources referred to while preparing this report on the North America automated dispensing systems market are the World Health Organization (WHO); US Food and Drug Administration (FDA); and National Center for Biotechnology Information (NCBI); among others.

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