PUBLISHER: The Business Research Company | PRODUCT CODE: 1470339
PUBLISHER: The Business Research Company | PRODUCT CODE: 1470339
Dispensing pharmacy packaging machines are advanced machines that reduce drugs dispensing time and serve customers quickly and with efficiency. Dispensing pharmacy packaging machines are medication distribution systems that provide computer-controlled storage, dispensing, packaging and distribution of medicines. The dispensing pharmacy packaging machines, with the help of the programmed working process, latest technologies and sensors, accomplish their tasks. Such machines are capable of enhancing efficiency, reducing overall costs, real-time data processing and decreasing the margin of error.
The dispensing pharmacy packaging machine market consists of sales, by entities (organizations, sole traders and partnerships), of dispensing pharmacy packaging machines that are used in preparing medications and nutraceuticals for secure distribution. It is an automated system that helps in positioning medications properly to preserve their quality and improve their overall appearance.
The global dispensing pharmacy packaging machine market was valued at $1,393.98 million in which grew till 2023 at a compound annual growth rate (CAGR) of more than 7.0%.
Growing Prevalence of Obesity and Diabetes
The growing prevalence of obesity and diabetes boosted the growth of the dispensing pharmacy packaging machine market during this historic period. Patients with obesity and diabetes frequently need multiple medications to control symptoms, address related complications and improve overall health. This has led to an increase in the demand for medications to manage these conditions. For example, according to the National Diabetes Statistics Report published by the Centers for Disease Control and Prevention (CDC), a US-based national public health agency, 11.6% of US citizens or 38.4 million people of all ages, suffered from diabetes in 2021. With age, the percentage of people with diabetes rose and among those 65 years of age or older, it reached 29.2%. Additionally, according to the 19th annual report on the nation's obesity crisis by the Trust for America's Health (TFAH), a US-based non-profit, non-partisan health policy advocacy organization, 19 states have obesity rates exceeding 35%, which is up from 16 states in 2021.
Focus On Development Of New And Advanced Products
Players operating in the dispensing pharmacy packaging machine market are developing new technological solutions to strengthen their position in the market. For example, in June 2023, CVS Health, a US-based healthcare company, launched its CVS Health QuickServe Vitamin Dispensing System. CVS Pharmacy's new vitamin distribution system prioritizes patient adherence and medicine access through a revolutionary countertop design that can be opened with a fingertip. The consumer assembles the system in simple stages as illustrated on the outer carton: open and remove the cap and safety seal from the cartridge, then attach the base to the cartridge. Additionally, in November 2020, JVM, a South Korean provider of pharmacy and hospital automation solutions, has launched NS20, a new pharmaceutical packaging machine that can prevent packaging errors of pharmaceuticals while speeding up the automatic dispensing procedure and save wrapping paper. The NS20 model is designed for large pharmacies and hospital pharmacies and it includes the most recent automatic sensor and communication technology, ACRS-III, as well as automatic tablet dispensing and packaging system (ATDPS), a traditional automatic medicine classification and packaging system.
The global dispensing pharmacy packaging machine market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 38.25% of the total market in 2022.
Dispensing Pharmacy Packaging Machine Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global dispensing pharmacy packaging machine market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for dispensing pharmacy packaging machine? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The dispensing pharmacy packaging machine market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider dispensing pharmacy packaging machine market; and compares it with other markets.