South and Central America Automated Dispensing Systems Market Key Players by 2027

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.

Medication error is irrational, inappropriate, and ineffective medication dispensing that has the potential to harm the patient. An Article published in NCBI, stated that population above 60 years of age is 11.7 percent in South America and 9.6 percent in Central America.  With more geriatric population living past the age of 60, the outh and Central America faces a growing chronic disease burden. In the wake of the increasing incidence of deaths caused by medication errors, government agencies across the globe have started encouraging hospitals and pharmacies to implement advanced technologies for dispensing accurate dosage of medicines to manage 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.

The emerging markets in the developing countries are giving better opportunity for the major players to expand their business. Several companies are actively involved in developing novel, advanced medication management solutions for hospitals and pharmacies and applying error-free, fully automated medication management systems, with a strong focus on work flow of automated dispensing systems.

However, the COVID-19 pandemic is perplexing healthcare institutions in the region with unprecedented operational and clinical challenges showing a negative impact on South and Central America market growth. Research institutes, Pharmaceutical, and Biotech companies are engaged in collaborative work to address the COVID-19 outbreak.

South and Central America Automated Dispensing Systems Market Revenue and Forecast to 2027 (US$ Mn)

South and Central America Automated Dispensing Systems Market–

South and Central America Automated Dispensing Systems Market– By Operation

• Decentralized Systems
• Centralized Systems

South and Central America Automated Dispensing Systems Market– By Application

• Out-Patient Automated Dispensing
• In-Patient Automated Dispensing

South and Central America Automated Dispensing Systems Market– By End User

• Retail Pharmacies
• Hospital Pharmacies
• Others

South and Central America Automated Dispensing Systems Market– By Country

• Brazil
• Argentina
• Rest of the South and Central America

Company Profiles

• Cerner Corporation
• Capsa Healthcare
• BD
• ARxIUM
• Accu-Chart Plus Healthcare Systems

South and Central America Automated Dispensing Systems Report Scope