Market Introduction
Automated dispensing system, also defined as automated drug cabinets, are electronic drug storage and dispensing devices, primarily used in healthcare settings. These are planned for use at hospital and retail pharmacies and are secured with authenticated passwords and biometrics. These systems improve access to drug information, reduce medication errors, control inventory costs, and allow for the configuration of systems to meet clinical or operational requirements.
Market Overview and Dynamics
The Europe automated dispensing systems market was valued at US$ 459.30 million in 2019 and is projected to reach US$ 792.48 million by 2027; it is expected to grow at a CAGR of 7.1% during the forecast period.
Key factors driving the Europe automated dispensing systems market are, the presence of various domestic players, rise in awareness towards health and safety for reduction of medication errors, technological advancements and growing prevalence of chronic diseases during the forecast period. However, problems associated with automated dispensing systems such as excessive use of overrides in cabinets with patient profiling and placing wrong program input are likely to pose a negative impact on the market growth.
Key Market Segments
Based on operation, the Europe automated dispensing systems market is segmented into decentralized systems and centralized systems. The centralized systems segment held the largest share of the market in 2019; however, decentralized system is anticipated to register the highest CAGR in the market during the forecast period.
The Europe automated dispensing systems market, based on application,is segmented into in-patient automated dispensing and out-patient automated dispensing.The in-patient automated dispensing segment held the largest share of the market in 2019; however, out-patient automated dispensing is anticipated to register the highest CAGR in the market during the forecast period.
Based on end user, the Europeautomated dispensing systems market is segmented into hospital pharmacies, retail pharmacies and others. The hospital pharmacies segment held the largest share of the market in 2019; however, the retail pharmacies segment is registered to dominate the segment at the highest CAGR in the market during the forecast period.
Major Sources and Companies Listed
Some of the major primary and secondary sources for Europe Automated Dispensing Systems market included in the report are World Health Organization (WHO), European Directorate for the Quality of Medicines and Healthcare (EDQM), European Medicines Agency(EMA), National Health Science (NHS) and others.
Reasons to buy the report
Europe Automated Dispensing Systems Market–
Europe Automated Dispensing Systems Market– By Operation
Europe Automated Dispensing Systems Market– By Application
Europe Automated Dispensing Systems Market– By End User
Europe Automated Dispensing Systems Market– By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 459.30 Million |
| Market Size by 2027 | US$ 792.48 Million |
| CAGR (2019 - 2027) | 7.1% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Operation
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Automated Dispensing Systems Market is valued at US$ 459.30 Million in 2019, it is projected to reach US$ 792.48 Million by 2027.
As per our report Europe Automated Dispensing Systems Market, the market size is valued at US$ 459.30 Million in 2019, projecting it to reach US$ 792.48 Million by 2027. This translates to a CAGR of approximately 7.1% during the forecast period.
The Europe Automated Dispensing Systems Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Automated Dispensing Systems Market report:
The Europe Automated Dispensing Systems Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Automated Dispensing Systems Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Automated Dispensing Systems Market value chain can benefit from the information contained in a comprehensive market report.
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