Medical Vending Machines Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented by Product (Benchtop Medical Vending Machine, Floor Standing Medical Vending Machine), End User, and Geography.

Market Snapshot

Medical Vending Machines Market Overview
Study Period: 2018 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 7.1 %
Medical Vending Machines Market Key Players

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Market Overview

The global medical vending machines market was anticipated to grow with a CAGR of nearly 7.1% during the forecast period. The growing need of the 24/7 availability of medical necessities is boosting the product sales. The growth can also be attributed to the machines ability to deliver medicines quickly making it extremely convenient option for patients. In addition, flexibility, in terms of location with the option to operate without any manual intervention makes them ideal for use in hospitals and pharmacies. Medical vending machines are highly effective as they help save labor costs, which is also bolstering their demand.

Technological innovations, such as controlled access modules, secure drug storage, offsite control of all medications and big data integration, making the product easier and more convenient to use will also have a positive impact on the demand. With such advancements, medical vending machines can also now deliver disease specific requirements. In September 2019, Capsa Healthcare launched NexsysADC 4T Countertop Dispensing Unit, which is a countertop version of the automated dispensing cabinet.

However, lack of healthcare infrastructure in developing economies coupled with various risks associated with misuse and hacking    of medical vending machine may act as a major challenge for the industry.

Scope of the Report

Medical vending machines are the automated machines used to dispense prescription drugs, medical devices and miscellaneous medical products by paying through an interface. The medical vending machines can be installed at a suitable place depending on the utility of the machine. Medical vending machines market is segmented by product type, end user and geography.

By Product Type
Benchtop Medical Vending Machine
Floor Standing Medical Vending Machine
By End User
Hospitals
Retail Pharmacies
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Pharmacies Segment is Expected to Witness a Healthy CAGR

  • Pharmacies by end user segment is expected to witness a healthy growth through the forecast period. The staffing issues where pharmacists need to attend every customer for prescription as well OTC drugs can be overcome by installation of medical vending machines. In addition, medical vending machines assist pharmacies in reducing the risk of diversions along with increased medication safety.
  • Moreover, mounting adoption of automatic medicine vending machines in pharmacies to increase medication availability through decentralized medication management acts as a major growing factor for the segment growth.
Medical Vending Machines Market Share

North America Dominates the Market and is Expected to Continue the Same during the Forecast Period

North America is leading owing to the presence of major market players. Furthermore, factors such as increasing healthcare infrastructure and technological advancements in medical vending machines are expected to drive the regional growth. Educational and community institutions in the region are making campaigns and educating individuals about various diseases and its management will boost the growth further.

Asia Pacific is projected to be a lucrative region for medical vending machines market. Increasing healthcare funding and government initiatives to promote the disease awareness are the major factors aiding regional growth. Furthermore, adoption of new technology in developing economies is also anticipated to boost the growth in near future.

Medical Vending Machines Market Growth Rate By Region

Competitive Landscape

Key players operating in the market are Becton, Dickinson and Company, Capsa Healthcare, CVS Health, InstyMeds, Magex, Omnicell, Parata Systems, Pharmashop24 srl, ScriptPro LLC, Xenco Medical among others. These players are engaged in developing advanced solutions by integrating modern technologies, such as mobile payments to simplify the payment process, sensors to detect the motion of pills thereby enhancing the buying experience of customers.

Medical vending machine manufacturers are also involved in developing disease-specific solutions that can satisfy the requirement of customers with advanced features and functions. For instance, in March 2019, Xenco Medical launched surgical vending machine for spine surgery instruments and implants that ensured safe and effective dispense of spine surgery implant.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Dependency on Prescription Medicines in Remote Areas

      2. 4.2.2 Increasing Demand for Efficient Inventory Management

      3. 4.2.3 Technological Advancements In Medical Vending Systems

    3. 4.3 Market Restraints

      1. 4.3.1 Risk Associated With misuse and Hacking

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Benchtop Medical Vending Machine

      2. 5.1.2 Floor Standing Medical Vending Machine

    2. 5.2 By End User

      1. 5.2.1 Hospitals

      2. 5.2.2 Retail Pharmacies

      3. 5.2.3 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Becton, Dickinson and Company

      2. 6.1.2 Capsa Healthcare

      3. 6.1.3 CVS Health

      4. 6.1.4 InstyMeds

      5. 6.1.5 Magex

      6. 6.1.6 Omnicell

      7. 6.1.7 Parata Systems

      8. 6.1.8 Pharmashop24 srl

      9. 6.1.9 ScriptPro LLC

      10. 6.1.10 Xenco Medical

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Medical Vending Machines Market market is studied from 2018 - 2026.

The Medical Vending Machines Market is growing at a CAGR of 7.1% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Becton, Dickinson and Company , Capsa Healthcare, CVS Health , InstyMeds, Xenco Medical are the major companies operating in Medical Vending Machines Market.

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