High Volume Dispensing Systems Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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High Volume Dispensing Systems Market Analysis
The high volume dispensing systems market studied was projected to record a CAGR of nearly 6.2% over the forecast period. The major factor attributing to the growth of the market is the increase in the number of pharmacies globally in recent years. Furthermore, the growing adoption of pharmacy automation systems and software, and government funding the installation of such systems is boosting the market growth. Startup technology, supply-chain e-commerce companies (i.e., Amazon), and e-health companies with innovative models are beginning to integrate into areas within traditional pharmacy business and practice models. These include medication dispensing, same-day delivery, cost savings, prescribing, storage, compliance, and adherence. Such advancements in the field of pharmacy are boosting the market growth. However, high cost of the systems and installation of systems constraints the market growth.
High Volume Dispensing Systems Market Trends
This section covers the major market trends shaping the High Volume Dispensing Systems Market according to our research experts:
Systems and Cabinets Segment is Dominating the High volume dispensing systems Market.
The dominant market share of the systems and cabinet segment can be attributed to the increasing incidence of medication errors, and growing adoption of pharmacy automation systems and software for high volume dispensing. According to the World Health Organization (WHO), in 2017, medical errors cause at least one death every year and responsible for injuries in about 1.3 million people in the United States annually. Furthermore, increasing number of pharmacies globally is boosting the segment growth. According to the Office for National Statistics (UK); NHS Digital, the number of pharmacies had been above 11.6 thousand since 2013 and reached upto 11699 community pharmacies in England alone in 2017. The increasing need for the automation and increasing pharmacies is boosting the market growth.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall market, throughout the forecast period. The market growth is due to the factors such as the presence of key players, high prevalence of chronic diseases in the region, established healthcare infrastructure are some of the key factors accountable for its large share in the market. In this region the United States has the maximum share due to supportive healthcare policies, high number of patients, and a developed healthcare market. With an aging population and greater prevalence of chronic diseases, the need for safe, legal pharmaceutical drug stores is constantly rising. According to US Census Bureau, in 2018, U.S. pharmacy and drug store sales amounted to about USD 285.87 billion. The increasing investemnets in pharma industry and rising need for automation in the same is boosting the market in the segment.
High Volume Dispensing Systems Industry Overview
The High volume dispensing systems market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are Innovation Associates, Mckesson Corporation, Omnicell, Inc, R/X Automation Solution, ScriptPro LLC, Parata Systems, HEALTHMARK SERVICES, ARxIUM, and Health Business Systems, Inc.
High Volume Dispensing Systems Market Leaders
Innovation Associates
Mckesson Corporation
Omnicell, Inc
R/X Automation Solution
ScriptPro LLC
*Disclaimer: Major Players sorted in no particular order
High Volume Dispensing Systems Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Increasing Number Pharmacies and Hospitals
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4.2.2 Growing Adoption of Pharmacy Automation Systems and Software
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4.3 Market Restraints
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4.3.1 High Cost of the Systems and Installation
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4.4 Porter's Five Force Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Product Type
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5.1.1 Systems and Cabinets
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5.1.2 Software
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5.2 By End User
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5.2.1 Hospital Pharmacy
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5.2.2 Retail Pharmacy
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5.3 Geography
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5.3.1 North America
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5.3.1.1 United States
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5.3.1.2 Canada
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5.3.1.3 Mexico
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5.3.2 Europe
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5.3.2.1 Germany
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5.3.2.2 United Kingdom
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5.3.2.3 France
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5.3.2.4 Italy
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5.3.2.5 Spain
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5.3.2.6 Rest of Europe
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5.3.3 Asia-Pacific
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5.3.3.1 China
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5.3.3.2 Japan
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5.3.3.3 India
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5.3.3.4 Australia
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5.3.3.5 South Korea
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5.3.3.6 Rest of Asia-Pacific
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5.3.4 Middle-East and Africa
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5.3.4.1 GCC
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5.3.4.2 South Africa
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5.3.4.3 Rest of Middle-East and Africa
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5.3.5 South America
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5.3.5.1 Brazil
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5.3.5.2 Argentina
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5.3.5.3 Rest of South America
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Innovation Associates
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6.1.2 Mckesson Corporation
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6.1.3 Omnicell Inc.
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6.1.4 R/X Automation Solution
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6.1.5 ScriptPro LLC
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6.1.6 Parata Systems
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6.1.7 HEALTHMARK SERVICES
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6.1.8 ARxIUM
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6.1.9 Health Business Systems Inc.
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
High Volume Dispensing Systems Industry Segmentation
As per the scope of the report high volume dispensing systems are cabinets for handling and provision of large volume medication catalogue. This report is segmented by product type, by end user, and by geography.
| By Product Type | |
| Systems and Cabinets | |
| Software |
| By End User | |
| Hospital Pharmacy | |
| Retail Pharmacy |
| Geography | ||||||||
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High Volume Dispensing Systems Market Research FAQs
What is the current High Volume Dispensing Systems Market size?
The High Volume Dispensing Systems Market is projected to register a CAGR of 6.20% during the forecast period (2024-2029)
Who are the key players in High Volume Dispensing Systems Market?
Innovation Associates, Mckesson Corporation, Omnicell, Inc, R/X Automation Solution and ScriptPro LLC are the major companies operating in the High Volume Dispensing Systems Market.
Which is the fastest growing region in High Volume Dispensing Systems Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in High Volume Dispensing Systems Market?
In 2024, the North America accounts for the largest market share in High Volume Dispensing Systems Market.
What years does this High Volume Dispensing Systems Market cover?
The report covers the High Volume Dispensing Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the High Volume Dispensing Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
High Volume Dispensing Systems Industry Report
Statistics for the 2024 High Volume Dispensing Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. High Volume Dispensing Systems analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
