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Improving patient’s health and safety is always a primary objective in hospital and health care settings, and pharmacologists have been discovering a variety of policies and technologies to achieve this objective. Automated dispensing system, also termed as automated drug cabinet, is an electronic drug storage and dispensing device primarily used in health care settings. These systems provide easy to operate computer-controlled storage, dispensing, and tracking of medicine. These systems have been recommended as one of the potential instruments to improve efficiency and patient safety, and they are now widely used in many hospitals, for instance in clinics, nursing homes, are located at the point of care settings (POC), for example in an accident & emergency department (A&E), diagnostic labs, an intensive care unit (ICU), and critical care unit (CCU).

Automated dispensing systems deliver a balance between security, user-friendliness, inventory management, and control of medications, which are all acknowledged as imperative features of a safe medication distribution system. These features drive the global automated dispensing systems market. Other drivers of the market include increasing demand for rapidly generated electronic reports to help categorize and prevent potential diversion from patient’s current health status. Automated dispensing systems save nursing time by reducing the need for manual end-of-shift counts in patient care division. Moreover, there is growing demand for automated systems such as barcodes and RFID cabinets, which help stock management and inventory management. These are the key factors expected to drive the market in the next few years. Moreover, increase in global geriatric population and prevalence of various chronic diseases, as well as high rates of hospitalization are some of the factors increasing the burden on hospital pharmacies and retail drug stores, consequently increasing demand for automated dispensing systems. Increase in the number of prescriptions and lack of skilled pharmacists are the other factors expected to boost automation in medication dispensing.

The global automated dispensing systems market has been segmented based on product type, end-user, and region. In terms of product type, the market has been segmented into centralized automated dispensing systems and de-centralized automated dispensing systems. Centralized automated dispensing systems are sub-segmented into robotic automated systems and manually operated unit-dose system. Decentralized systems which provide computer controlled storage, tracking of medications, and dispensing have been recommended widely and are expected to hold large market share in the near future.

Based on end-user, the global automated dispensing systems market has been segmented into pharmacy stores, hospitals, laboratories, and others. The hospitals segment is anticipated to account for major share of the automated dispensing systems market driven by rapidly increasing health care expenditure and rising patient admissions which increases burden on pharmacy departments. The hospitals segment has been sub-segmented into general ward and emergency ward. The pharmacy stores segment is expected to expand at a high CAGR during the forecast period. Increasing pressure on pharmacies due to rising drug prices and decline in reimbursements leads to inefficient inventory and supply chain management. However, human error can lead to medication dispensing errors. This in turn is expected to boost the growth of the pharmacy stores segment during the forecast period.

North America accounted for major share of the global automated dispensing systems market. This is attributed to increased concerns toward patient’s health and safety. Europe was the next major market for automated dispensing systems. However, Asia Pacific is expected to witness significant growth during the forecast period. Key growth drivers of the automated dispensing systems market in the region include increasing geriatric population and rising health care expenditures.

Major players operating in the automated dispensing systems market are Aesynt Incorporated, Becton, Dickinson and Company, Omnicell, Inc., Pearson Medical Technologies, RxMedic Systems, Inc., Avery Weigh-Tronix, ScriptPro LLC, Capsa Solutions, LLC, and Cerner Corporation, among others.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Automated Dispensing Systems Market

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