Market Size of Medical Vending Machines Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 7.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Medical Vending Machine Market Analysis
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.
