High Volume Dispensing Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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High Volume Dispensing Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : November, 2020 | Healthcare IT | PPT format

Report Digest


Global High Volume Dispensing Systems Market: Snapshot

High volume dispensing systems are like cabinets that are used for provision and handling of huge volumes of medication and drugs inventory. The growing technological advances and the increasing adoption of automation in the medical and healthcare sector has helped in driving the growth of the global high volume dispensing systems market. In addition to this, introduction of new and innovative software and their adoption is also helping the high volume dispensing systems market to grow.

The high volume dispensing systems market is also on the rise due to the growing medication errors. As per the recent study by the World Health Organization (WHO) in the US, at least one death in about 1.3 million people was because of some kind of medication error.

Some of the key developments in the global high volume dispensing systems market are given below:

  • In July 2019, Innovation Inc., a prominent name in the global high volume dispensing systems market announced that the company has been successful in acquiring a contract from the Defense Logistics Agency for the PhamaASSIST® pharmacy automation solutions. The deal is expected to be around US$450 million for the period of 10 years.
  • In July 2019, Omnicell Inc., a leading manufacturer of high volume dispensing systems announced the company’s automation and intelligence solutions will be used by North Carolina-based Atrium Health. Atrium health will use these solutions for enhancing their medication management solution and pharmacy operations. These solutions will be used across infusion centers and hospitals in the Charlotte Metro Region.

Global High Volume Dispensing Systems Market: Overview

The global high volume dispensing systems market is anticipated to witness the rise of growing trends such as the increasing adoption of pharmacy automation software. The global high volume dispensing systems market could gain attention due to the rising incidence of medication errors and technological developments. In the U.S., nearly 1.3 million people have suffered injuries and at least one person loses life because of medical errors annually, as per the findings of the WHO.

Increasing cases of non-communicable diseases and rising number of prescriptions for their treatment are predicted to propel the growth of the global high volume dispensing systems market. Millions of people have suffered from at least one or more chronic diseases in a recent year, according to the CDC. The growth of the global high volume dispensing systems could see a rise as a result of the swelling demand for accurate and quicker prescription processing.

Global High Volume Dispensing Systems Market: Trends and Opportunities

The demand for high volume dispensing systems is expected to increase in retail pharmacy chains on the back of the need to process large volume prescriptions at a quicker rate. This could be supported by latest technological developments in the structural designing of automated cabinets. High requirement of efficient software for dispensing and managing large volumes of medication inventories could be another factor triggering demand in the global high volume dispensing systems market. This could be because of the increase in the number of mail and retail order pharmacies.

Strong usage of high volume dispensing systems to avoid excess inventory costs owing to the growing pressure of reducing medication prices is projected to provide a fillip to the global market.

Global High Volume Dispensing Systems Market: Market Potential

Implementation of the EU Falsified Medicines Directive (FMD) in the region including the U.K. by February 9, 2019 is expected to help the global high volume dispensing systems market stay at the center stage. According to the FMD law, two new features are required to be added to all prescription medicine packs in Europe for their safety: a barcode style unique identifier (UI) and an anti-tampering device (ATD). In order to avoid stock shortages, pharmacy chain Weldricks has already ordered new quality scanners for its 63 pharmacies, which will be trailed in September 2018. The trial will begin in a high volume dispensing and a low volume dispensing pharmacy.

Global High Volume Dispensing Systems Market: Regional Outlook

The global high volume dispensing systems market is forecast to find North America taking a leading position in terms of growth. The region could gain impetus while riding on the presence of several companies, which improves the availability of high volume dispensing systems. Asia Pacific is envisaged to log a higher CAGR in the global high volume dispensing systems market due to constant development of healthcare infrastructure. Other factors that could push the Asia Pacific high volume dispensing systems market are lack of qualified pharmacists and increasing number of prescriptions.

Global High Volume Dispensing Systems Market: Competitive Landscape

The global high volume dispensing systems market marks the presence of leading players such as Innovation Associates, McKesson Corporation, and Omnicell, Inc. The rising trend of partnerships and agreements for acquiring new technologies is prognosticated to augur well for the global high volume dispensing systems market. Several small companies operating in the global high volume dispensing systems market are making decent investments. However, the global high volume dispensing systems market may witness the domination of multinational firms.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?