According to FutureWise analysis the market for Automated Pharmacy Dispensing Systems is expected to register a CAGR of 7.72% from 2024-2032.
A computer-controlled system used for tracking, storing and dispensing medicine is known as an automated dispensing system or an automated drug cabinet which is essentially an electronic medicine store. It is one of the most recommended instruments for improving patient safety and efficiency. They are used in clinics, hospitals nursing homes in various departments, for instance, diagnostic labs, Accident and Emergency department (A E), Critical Care Unit (CCU) and Intensive Care Unit (ICU). Automated dispensing systems has a fine balance of being user-friendly, secure, in managing inventory and medication control which are all considered as important and necessary features for an efficient medication distribution system and these are the features that boost the global market.
Integration of artificial intelligence and robotics into dispensing systems led to the rapid evolution of the automated process. It improved the workflow of dispensing process and reduced the pharmacy errors at the point of use. Along with this, automated dispensing systems provide real-time data for better management of the dispensing process. It can dispense up to 30%-60% of prescriptions daily and increases operation efficiency, reduce dispensing costs, optimize drug inventory and enhance patient care. Recent advancement in technologies led to the development of centralization of medication dispensing and supports mail orders central filling programs. All with these, they offer unparalleled accuracy and quality to the dispensing process. All these features broaden the capabilities and led to the evolution of multiple modality systems. All these factors led to the burgeoning growth of the market during the forecast period.
Global market is dominated by developed economies like North America and Europe. North America accounts for a major share in the global market due to the high adoption of technologies in healthcare systems. It is followed by the Europe market due to the rapid integration of technologies. The Asia Pacific is a fast growing region due to increasing adoption during the forecast period. It is expected to witness a new player’s entry due to increasing opportunities. It is Latin America and Rest of World accounts a small fraction of the global market due to highly untapped market because of low adoption.