The global automated dispensing machines market is witnessing growth and is projected to reach USD 3,941.9 million by 2030. This growth of the market can be credited to the increasing occurrence of medication faults, technical innovations, rising elderly populace, increasing occurrence of chronic illnesses, government initiatives to add automated machines in healthcare situations, and growing count of patent approvals.
In recent years, the in-patient category had the larger share in the automated dispensing machines industry, on the basis of application. This can be credited to the surge in the occurrence of chronic illnesses, which is why the need for automatic dispensing machines for in-patients has improved considerably.
On the basis of type, during the projection period, the decentralized category is projected to observe faster development in the automated dispensing machines industry. This will be mainly because of the surging cases of hospitalization, the increasing count of hospitals, and the increasing demand for decentralized systems in healthcare situations.
Hospitals have occurred as the higher-revenue-producing category, based on end users in the automated dispensing machines market credited to the rising patient populace, growing healthcare spending, and increasing occurrence of chronic illnesses.
During the projection period, the North American region is projected to dominate the automated dispensing machines industry. This can be primarily credited to the advancing healthcare infrastructure, the existence of well-known players, and the increasing elderly populace.
The thriving elderly populace is another key reason propelling the development of the automated dispensing machines industry. As per the World Population Ageing 2020 report by the United Nations, there were around 727 million individuals aged 65 or more in 2020, and they are projected to number more than 1.5 billion by 2050.
Furthermore, worldwide, the share of the aging populace is projected to surge from 9.3% in 2020 to approximately 16.0% by 2050. With age, individuals are becoming more prone to chronic illnesses, primarily gastroenterological diseases, cardiovascular disorders, and neurological disorders. As per the World Health Organization, 17.9 million individuals die per annum from CVDs, which signifies an estimated 31.0% of all demises globally.
The increasing occurrence of medicine mistakes is playing an important role in the development of the automated dispensing machines industry. As per the National Center for Biotechnology Information (NCBI), 6,000–8,000 individuals die each year in the U.S. as a result of medication faults.
The shortage of healthcare medicine administration training and poor communication between healthcare specialists and patients increase the odds of medication mistakes. Seeing the growing count of demises caused by medicine faults, government agencies throughout the globe have started inspiring hospitals and druggists to execute progressive technologies for dispensing precise doses of drugs, to achieve medical conditions more efficiently.
SOURCE: P&S Intelligence
