Dublin, May 27, 2024 (GLOBE NEWSWIRE) -- The "Medication Dispenser Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)" report has been added to ResearchAndMarkets.com's offering.
North America, the Largest Regional Market in the Global Medication Dispenser Industry, Set to Expand Significantly.
North America remains at the forefront of the global medication dispenser market, holding the largest regional share. This remarkable growth positions North America as the dominant revenue-generating region in the global medication dispenser market, a trend expected to continue throughout the forecast period.
U.S. Market Gains Momentum with Significant Market Share Increase
The United States stands out within North America, expected to gain substantial market share due to the increasing number of new installations. In contrast, Canada is likely to experience a decline in market share during the same period. North America's attractiveness as a regional market is underscored by a high attractiveness index, highlighting its potential for investors and stakeholders.
Rising Geriatric Population and Enhanced Medication Services Drive Market Growth
The aging population in the United States is a significant factor contributing to the growth of the medication dispenser market. According to Health Affairs, adults over the age of 65 are expected to comprise a substantial portion of the U.S. population in the coming decades. This demographic shift brings challenges in managing multiple medications with varying dosing schedules, particularly for elderly individuals. Medication dispensers address this need by alerting patients and guiding them to take the correct medication at the right time. These devices also assist nurses in hospitals, reducing the risk of errors during patient treatment.
Automation and Accuracy Boost Adoption in North America
The accuracy and efficiency of automated medication dispensing systems are key drivers of their adoption in North America. A study published in the Canadian Journal of Hospital Pharmacy revealed that the implementation of Automated Drug Dispensing systems significantly reduced the time nurses spent on medication-related activities. This increased efficiency, along with faster service delivery, is expected to drive the market further.
Leading Healthcare Institutions Adopt Automated Dispensing Solutions
Several prominent hospital and pharmacy chains in the United States are adopting medication dispensing systems to streamline their operations and enhance patient care. Notable healthcare institutions such as Barnes Jewish Healthcare, Children's Healthcare of Atlanta, Restore Health, and San Francisco General Hospital have partnered with Aesynt to automate the compounding and dispensing of intravenous medications. This trend reflects the broader move towards automation and quality improvement in healthcare.
Pharmacy-Based ADS and Hospital Pharmacies: Key Segments Driving Market Growth
Within the North America medication dispenser market, pharmacy-based Automated Dispensing Systems (ADS) and hospital pharmacies are significant segments. The pharmacy-based ADS segment is experiencing robust growth. This segment is expected to see substantial increases in market value over the forecast period.
Similarly, the hospital pharmacies end-user segment is expected to witness remarkable growth. This segment's market valuation is projected to see significant increases, underscoring the increasing reliance on automated systems in both retail and clinical settings.
Key Market Players Include:
- Becton, Dickinson and Company
- Omnicell Inc.
- Cerner Corporation
- Capsa Solution
- InstyMeds Corporation
- PARATA SYSTEMS
- TriaTech Medical Systems Inc.
- ARxIUM Inc.
- ScriptPro
- YUYAMA
- Howard Industries, Inc.
- Swisslog Holding
- Talyst
- Robotik Technology
- Tema Sinergie
- Synergy Medical
- Accu-Chart Plus Healthcare Systems, Inc.
- Medipense Inc.
Global Medical Dispenser Market Segmentation:
By Product Type:
- Pharmacy based ADS
- Ward based ADS
- Automated Unit Dose Dispensing
By End User Type:
- Hospital Pharmacies
- Ambulatory Surgical Centers
- Nursing Facilities
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/1i2zvr
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