Global Dispensing Pharmacy Packaging Machine Market Size, Trends & Analysis - Forecasts to 2026 By Product Type (Fully Automatic, Semi-Automatic), By Speed (Low Speed, Standard Speed, High Speed), By Region (North America, Asia Pacific, Europe, Central & South America, Middle East & Africa); End-User Landscape, Company Market Share Analysis, and Competitor Analysis
Dispensing Pharmacy Packaging Machine Market Insights
Automation of work is taking over the manufacturing sector, healthcare, and the scientific labs’ workflow. The future is automation and the healthcare sector has already experienced the benefits of virtual reality and advanced technologies. Telemedicine and EHR are such areas changing the healthcare domain.
Automating the pharmacy space is to monitor the distribution of drugs effectively and also to make sure the stocks are maintained as per the requirements. Deployment of dispensing machines in the pharmacies helps to increase prescription sales and boost work efficiency in hospitals and local pharmacies. Many local communities are experimenting with the automation of dispensing drugs to test the cost and saving efficiencies. If looked at, in 2016 a local pharmacy in the United States deployed the ScriptPro Dispensing Robot and the results led to an increase in drug prescription volume while also increasing the services for diabetic shoe fitting and medical equipment.
The need of the hour is the reduction in human errors and contamination from human touch which impacted the world during the COVID-19 situation.
COVID-19 stillness in the healthcare sector will loom for years to come as hygiene and safety are becoming standard norms across the sector. COVID-19 period offered and continues to offer pharmacies a plethora of opportunities by deploying the dispensing machines. The machines stick to the touch-free delivery and packaging of the medication. The machines also keep up to the social distancing standards, allowing the medication to be concentrated in one place reducing the frequent visits to the pharmacies. The dispensing machines help to synchronize the prescriptions of the patients, which drastically reduces the constant pick-ups and multiple call-ins.
The market is also influenced by the rising medication errors and the need to reduce such errors gives rise to the large-scale production of the machines. At least 7000 people lose their lives due to wrongly prescribed drugs. Effective reduction of such errors is met by automation of dispensing machines. Not just hospitals but the far-reaching effects of such machines are also widely celebrated in the local pharmacies and helps in building of local communities.
The distinct types of machines by different manufacturers fulfill certain needs such as Pill Pick by Swisslog Healthcare performs the function of labeling, barcoding the pills into doses. Other types of machines that offer a high throughput are the Boris Bottle machine. Such machines are significantly faster than a normal packaging clerk. The machines enable the packaging of the four vials into the ship ready bag. Such machines also help in customizing packaging as per the pharma system.
The retail pharmacy’s efficiency is also significantly impacted by the deployment of such machines as it ensures maximum patient safety. Deployment of these machines has the potential to optimize the space, put less pressure on the employees, and increased work efficiency.
But the cost of maintaining the dispensing machines is high which can limit the way the machines are used in hospitals and other small pharmacies.
Dispensing Pharmacy Packaging Machine Market: By Product Type
The fully automatic machines would have a dominating presence in the market given the large-scale production of such machines. The market is skewed towards the deployment of fully automated machines. The linear dispensing unit is an example of fully automated machines as it offers precision in packaging, and space to manage the prescriptions effectively. The machine verifies, labels, and pre-pack the items varying in size and shape. A fully automated segment helps in the retrieval, packaging, and shelving of medicines developed for the hospital pharmacies.
Dispensing Pharmacy Packaging Machine Market: By Speed
The high-speed machines occupy dominating space in the market owing to rising user satisfaction and reduced pharmacy workload. The high speed ensures no delay in the packaging of the drugs, and on-time delivery of the medication. High-speed packaging machines are generally used for oral tablets requiring the ADC refill.
But the drawback of the high speed of the machine lies in the damaging of the tablets and thus the need for low-speed machines comes into play.
Lower speed adjustments in the machine would have a rising trend as the low speed is much more preferred for the repackaging of the tablets.
Dispensing Pharmacy Packaging Machine Market: By Region
North America would show record-breaking revenue growth estimates owing to the region’s growing pharmaceutical sector. The region remains a key player as it showcases the highest number of partnerships and alliances in the pharmaceutical sector. Another factor that drives the region’s growth in this market is the growing number of pharmacies in terms of revenue generated. CVS Health, Cigna, Walmart, and Walgreens are a few of the largest pharmacies in the USA generating huge dispensing revenue. As automation takes over, the market will lead to large-scale involvement of the government making the market highly profitable in the region.
Europe’s market for automation of pharmacies is an integration of the manufacturer’s effort to boost the production of dispensing drugs machines and rise of the expenditure on prescription drugs. Machines such as the Xana-4001U2 have cleared the strict standard protocols in Europe and also is present in over 20 countries. Europe’s strict regulations help the region to achieve a competitive edge over other regions leading to better functioning of the market.
Market Share and Competitive Analysis
TOSHO Corporation, Parata, JVM, Swisslog Healthcare, Yuyama Manufacturing Co, Ltd, Canon Lifecare Solutions Inc, Takazono Corporation, Nisshin Medical Device Co., Ltd, Futain Industry Trading Co, Yung Chung Machinery Co., and Heqian Industry Co. are key players in this market.
Please note: This is not an exhaustive list of companies profiled in the report.
In October 2020, JVM Europe Successfully exported the drug dispensing machine to Norway.
In January 2019, TOSHO Corporation invested and acquired a portion in Semba Biosciences Inc
In December 2018, Swisslog Healthcare launched a robot to ASHP meeting to optimize medication delivery.
In November 2019, Swisslog Healthcare bought TheraPick which is regulated by the Cleveland Clinic.
Check the Press Release on Global Dispensing Pharmacy Packaging Machine Market Report
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The Global Dispensing Pharmacy Packaging Machine Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Dispensing Pharmacy Packaging Machine Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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