Medication Dispenser Market Predicted To Value US$ 1,824.7 Mn By 2025

Posted by Vinay on November 8th, 2017

Reformation in healthcare policies across various countries has resulted in enhancement of healthcare services, favoring the adoption of medication dispenser in hospitals. The change in the quality of healthcare services provided to patients is mainly ascribed to ongoing technological advancements, which is simultaneously elevating the effectiveness of healthcare systems. Such positive alterations are helping healthcare organizations to increase productivity as well as mitigate healthcare costs and medical errors. Further, hospitals are bound to offer quality care to patients in order to stay competitive. Increasing adoption of novel medical technologies such as Electronic medical record (EMR), Pharmacy Information Systems (PIS), and Laboratory Information Systems (LIS) has led to the automation of various procedures in hospitals.

Factors as such are anticipated to support the growing use of medication dispenser in ambulatory surgical centers, hospitals and nursing homes. Moreover, the need to eliminate manual task of dispensing medicines is further boosting the demand for medication dispensing systems of late. As per the latest report published by Persistence Market Research, the global medication dispenser market will reach a valuation of US$ 1,824.7 Mn, riding at a CAGR of 7.0% over the forecast period (2017–2025).

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PMR’s report, titled “Medication Dispenser Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)” also cites that the medication dispenser market in North America will retain its top spot over the forecast period. The region is expected to account for nearly 64.3% revenue share of the global market by 2017-end. This is primarily owing to the rising geriatric population and availability of highly accurate medication services in the region. During this eight years of the forecast, the region is projected to expand at a CAGR of 7.2% and reach a market valuation of US$ 1,187.1 Mn. In addition, the contribution of the U.S. in the region’s market will remain exceptionally high throughout the assessment period. Meanwhile, APEJ is expected to register the fastest CAGR of 8.2% over 2025, primarily due to increasing per capita income and a greater healthcare reach in many of the emerging countries in the region.

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