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 South and Central America automated dispensing systems market was valued at US$ 57.06 million in 2019 and is projected to reach US$ 95.97 million by 2027; it is expected to grow at a CAGR of 6.8% during the forecast period.
The growth of the South and Central America automated dispensing systems market is attributed to key driving factors such as rise in awareness towards health and safety for reduction of medication errors, increasing adoption of processes to control inventory costs, technological advancements and improving healthcare infrastructure 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 South and Central America 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 South and Central America 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 South and Central America automated 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 referred to while preparing this report on the South and Central America automated dispensing systems market are World Health Organization (WHO), World Bank, Association of Private Clinics, Sanatoriums and Hospitals of the Argentine Republic ADECRA, Civil Association of Integrated Medical Activities (CAMI) and others.
Reasons to buy the report
South and Central America Automated Dispensing Systems Market–
South and Central America Automated Dispensing Systems Market– By Operation
South and Central America Automated Dispensing Systems Market– By Application
South and Central America Automated Dispensing Systems Market– By End User
South and Central America Automated Dispensing Systems Market– By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 57.06 Million |
| Market Size by 2027 | US$ 95.97 Million |
| CAGR (2019 - 2027) | 6.8% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Operation
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South and Central America Automated Dispensing Systems Market is valued at US$ 57.06 Million in 2019, it is projected to reach US$ 95.97 Million by 2027.
As per our report South and Central America Automated Dispensing Systems Market, the market size is valued at US$ 57.06 Million in 2019, projecting it to reach US$ 95.97 Million by 2027. This translates to a CAGR of approximately 6.8% during the forecast period.
The South and Central America 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 South and Central America Automated Dispensing Systems Market report:
The South and Central America Automated Dispensing Systems Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South and Central America Automated Dispensing Systems Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South and Central America Automated Dispensing Systems Market value chain can benefit from the information contained in a comprehensive market report.
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