Transparency Market Research delivers key insights on themedication dispensing & packaging systems marketin its published report, which includes global industry analysis, size, share, growth, trends, and forecasts for2019–2027.In terms of revenue, the global medication dispensing & packaging systems market is estimated to expand at a CAGR of~7%during the forecast period, owing to various factors, about which, TMR offers thorough insights and forecasts in this report.
Medication Dispensing & Packaging Systems Market: Overview
Medication dispensing & packaging systems are key pharmacy innovations developed by market players to tackle several issues related to the skilled workforce and medication errors. The medication dispensing & packaging systems market is highly concentrated in the North America region, and is expected to show rapid growth in the Asia Pacific region.
Efforts of key players to reduce initial set-up costs, training of pharmacists to adopt various technologies, and partnering with new suppliers are anticipated to push the demand for medication dispensing & packaging systems in developing countries. Manufacturers are engaging in the development of high-end systems with maximum packaging speed and canister capacity. The fixation of hospital pharmacies of achieving efficient and accurate solutions is expected to be the key driver for the growth of the medication dispensing & packaging systems market.
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North America to Remain Prominent Medication Dispensing & Packaging Systems Market
The pharmacy automation industry is expanding rapidly due to the high focus of healthcare automation companies on product development. North America is estimated to be a significant market for medication dispensing & packaging systems, as a result of the high demand from well-established hospitals and retail pharmacies.
The shrinking number of skilled personnel in pharmacy & medication adherence is creating the requirement of automation in pharmacies. By value, around half of the revenue in2019is estimated to come from the North American market. Europe is expected to be the second-largest market for medication dispensing & packaging systems, owing to initiatives taken by governments and hospitals to opt for automation. Germany, France, the United Kingdom, and Italy are estimated to hold half of the medication dispensing & packaging systems market in Europe, in2019.
Asia Pacific to Offer Lucrative Growth Opportunities
The medication dispensing & packaging systems market in Asia Pacific is projected to expand at a fast-paced growth during the forecast period. The reformation of the pharmacy industry by developing countries is expected to boost market growth for pharmacy automation systems. East Asian countries such as China, Japan, and South Korea are anticipated to drive medication dispensing & packaging systems market growth in the region. The East Asia region is estimated to hold ~60%of the Asia Pacific medication dispensing & packaging systems market share in2019.
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Medication Dispensing & Packaging Systems Market: Recent Developments
- InSeptember 2019, Swisslog Holding AG partnered with Pharmony, a pharmacy management software firm, to deliver an integrated software and automation experience to community pharmacies in Europe.
- InJuly 2019, Omnicell, Inc. was recognized for outstanding product design by the2019Red Dot Award for its easyblist fill2light medication packaging.
- InDecember 2018, JVM Co., Ltd. launched NS20, a pharmaceutical packaging machine that can prevent packaging errors while speeding up the automatic dispensing procedure.
- By reviewing past activities and product launches, Becton, Dickinson and Company is expected to launch medication dispensing & packaging systems under its Pyxis
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Contact Information:
U.S. OFFICE :
State Tower,
90 State Street, Suite 700,
Albany NY – 12207,
United States