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Centralized system segment by operation is estimated to lead the market growth during the forecast period
According to The Insight Partners market research study of “Europe Automated Dispensing SystemsMarket Forecast to 2027 - COVID-19 Impact and Regional Analysis by Operation, Application and End User,”
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.
The report highlights trends prevailing in the Europe Automated Dispensing Systems Market and the factors driving the market along with those that act as hindrances.
The Europe automated dispensing systems market, based on operation, is segmented into decentralized systems and centralized systems. The centralized systems segment held the larger share of the market in 2019. In the wake of the increasing incidence of deaths caused by medication errors, government bodies across the globe have started encouraging pharmacies and hospitals to implement advanced technologies for dispensing accurate dosage of medicines to treat medical conditions more effectively.
Hospitals are adopting advanced technologies such as automated dispensing systems to store, dispense, and track medicines in order to improve efficiency and patient safety. These systems enhance the efficiency of medication distribution and also minimize the medication errors in hospitals. As the majority of geriatric population suffers from various chronic diseases, there is increase in the demand for advanced medication.
Europe automated dispensing systems market is expected to grow owing to factors such as 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.
Cerner Corporation, Capsa Healthcare, OMNICELL INC., ARxIUM, and Accu-Chart Plus Healthcare Systems are among the leading companies operating in the Europe automated dispensing systems market.
The report segments Europe Automated Dispensing Systems Market as follows: