The medical vending machines dispense required medicines of the user’s choice and provides a complete solution to an individual who is looking for immediate recommended relief in case of minor health problems. It consists of an automated decentralized medication distribution network that provides computer-controlled storage, dispensing, and tracking of medications so as to enhance the safety of patient and improves efficiency. Automated medicine dispensing machines enhance first-dose delivery and facilitate timely medications administration by increasing accessibility of medications on patient care units. It prevents hours wasted in waiting at queues at hospitals or clinics for minor medical conditions such as cold and headache. The drivers of the medical vending machines market are increasing demand for efficient inventory management and faster medicine dispensing, growing need of 24/7 availability of medical necessities, increasing dependency on prescription medicines in remote areas by the patients, and growing awareness regarding healthy eating habits. Vending machines that disperse essential medicines, along with other products like surgical kits, menstrual pads, nappies, etc. have become immensely popular in fast-growing cities like New York, Tokyo, London, etc. Medical vending machines are mostly assisted by a certified pharmacist. These users scan prescriptions, which are verified by a pharmacist. These automated machines notify the store owners once the medicine stocks start running low. Thus, this is facilitating the adequate product availability and is expected to nurture the market growth during the forecast period. In contrast, concerns regarding misuse and hacking of medical vending machines are anticipated to hinder the market growth during the forecast period.
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In terms of revenue, the global medical vending machines market was estimated to be US$ 3,213.21 Mn in 2020 and is expected to reach US$ 18,712.93 Mn by 2029 growing at a CAGR of 21.7% over the forecast period. The study analyzes the market in terms of revenue across all the major regions, which has been further bifurcated into countries.
North America has been at the forefront in adopting technologies across various industry verticals ranging from manufacturing, telecommunications and information technology, transportation and logistics, amongst others. Educational and community institutions in the region are making campaigns and educating individuals about various diseases and its management which is likely to help boost the use of medical vending machines over the assessment period. Moreover, the presence of major market participants in the U.S., and Canada is supporting the dominance of the region and propelling the medical vending machines market. On the other hand, Asia Pacific is anticipated to witness lucrative market growth over next eight years. China, India, Japan and South Korea amongst others have turned their focus towards improving the access to primary public infrastructure for general population. This access is observed to be from basic amenities to dedicated facilities, which assists in improving the standard of living for the citizens and tourists visiting the country. Certain regions in Tokyo, Japan have installed vending machines that offer medical devices ranging up to automated external defibrillators (AEDs) which can be operated by general populations during instances of emergency, thus augmenting the regional growth.
The report provides both qualitative and quantitative research of medical vending machines market as well as provides comprehensive insights and development methods adopted by the prominent market players. Some of the key market participants in the medical vending machines market are BD, Capsa Healthcare, CVS Health, InstyMeds, INTELLIGENT DISPENSING SOLUTIONS LLC, Omnicell, Inc., Pharmashop24 srl., ScriptPro LLC, and Xenco Medical. Major market players are offering their solution with new technologies and integrated point of sales solutions to retaillers, pharmacies, hospitals, etc. These players have launched customized medical vending machines for its clients and are also partnering with major providers of hospital information management systems to enhance integration of its products with other systems. In September 2019, Capsa Healthcare launched NexsysADC 4T Countertop Dispensing Unit, which is a countertop version of the automated dispensing cabinet with an aim to expand its product portfolio. For each company, the report studies their global presence, competitors, product offerings, among others.
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Global Medical Vending Machines Market:
- By Product
- Prescription Drugs
- OTC Drugs
- Disposable Spinal Tools and Implants
- Condoms and Wipes
- Sanitary Napkins and Tampons
- Other Medical Supplies
- By Type
- Wall Mounted
- Pedestal Base Stand
- Others
- By End User
- Hospitals
- Clinics
- Retail Pharmacies
- Others
- By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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