The global high volume dispensing systems market size was estimated to be USD 2.61 billion in 2023 and is expected to reach at USD 6.23 billion by 2034 with a CAGR of 8.23% during the forecast period 2024-2034. Surge in the number of prescriptions, growing number of cases of non-communicable diseases, rising demand for quicker & more precise prescription processing, increasing technological advancements in the structural designing of automated cabinets to process large volume prescriptions, the healthcare sector is facing mounting pressure to reduce the costs of medications, surge in government funding for the installation of these cabinets in hospitals, growing demand to decrease the occurrences of inventory discrepancies in both pharmacies and hospitals, and rising introduction of technologically advanced high volume dispensing systems are some of the key factors boosting the market growth.
Rising introduction of technologically advanced high volume dispensing systems is predicted to boost the market growth during the forecast period. High-volume dispensing systems are cabinets designed for the management and distribution of substantial quantities of medication inventory. The expanding presence of retail and mail-order pharmacies has led to an increased demand for efficient systems and software to manage and dispense substantial medication inventories. As a result, industry participants are concentrating on the advancement of technologically sophisticated high-volume dispensing solutions, thus driving market expansion. For instance, in April 2023, iA has unveiled NEXiA Enterprise Analytics, a cloud-based application tailored for pharmacy fulfillment. This software features a state-of-the-art intelligence application that enables customers to monitor pharmacy operations across multiple locations in real-time.
By product, systems/cabinets was the highest revenue-grossing segment in the global high volume dispensing systems market in 2023 owing to the high demand for efficient pharmacy workflows, combined with increasing concerns about the secure dispensing of medications, is a notable trend, growing number of pharmacies, surge in the number of prescriptions is the cause of the substantial growth in medication inventory, increasing technological advancements in cabinet designs for improving patient safety & prescription processing. For instance, in October 2023, iA has introduced two advanced robotics systems to enhance the capabilities of its centralized fulfillment solutions, catering to pharmacies of various sizes. The release of the iA 4 Liter Canister, iA Smart SecurePack, and Centralized Fulfillment Solutions for a range of pharmacy sizes represents another stride towards transforming the operations of pharmacies and their service to communities. Additionally, software solutions is predicted to grow at fastest CAGR during the forecast period owing to the increasing need for pharmacy software solutions to optimize workflow is becoming more prominent and the widespread use of high-capacity dispensing software solutions and systems is on the rise in a range of medical applications, particularly in cases involving controlled substances.
By end-user, retail pharmacies was the highest revenue-grossing segment in the global high volume dispensing systems market in 2023 owing to the increasing number of retail pharmacies & prescriptions has led to a substantial accumulation of medication stock, growing need for specialized medications is driving the demand for cabinets & software systems designed to safely & efficiently dispense these medicines, and rising introduction of advanced technologies. For instance, in March 2022, Omnicell has launched the IVX Station Robotic Compounding Technology, a fully automated system that not only decreases the likelihood of human errors but also offers advantages in terms of accuracy, patient safety, supply chain management, cost reduction, and compliance. Additionally, hospital pharmacies is predicted to grow at fastest CAGR during the forecast period owing to the rising demand for these systems in hospital pharmacies, the inventory discrepancies are on the rise, medication errors are increasing, growing emphasis on reducing workload, and surge in favorable initiatives by governments & private bodies to implement these systems in pharmacies.
North America region is anticipated for the highest revenue share during the forecast period owing to the presence of a large number of market players, growing healthcare infrastructure, surge in prevalence of chronic diseases, rising adoption of such cabinets & software by pharmacies & hospitals, increasing technological advancements, growing investments by leading market players in the sector of pharmacy automation, and surge in number of pharmacies. For instance, in March 2022, Walgreens Boots Alliance has introduced 22 micro-fulfillment centers in the United States, where robots are utilized to prepare customers' prescriptions. This development reflects the evolving roles of stores and pharmacists, with each robot capable of filling 300 prescriptions per hour. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing number of prescriptions, rising improvement in healthcare infrastructure, increasing incidence of dispensing errors, and mounting disease burden, and surge in mergers & acquisitions within market players. For instance, in July 2022, Becton, Dickinson, and Company successfully acquired Parata Systems, with the goal of delivering groundbreaking pharmacy automation solutions. This partnership is focused on providing a wide array of innovative pharmacy automation solutions to enable a growing network of pharmacies to reduce costs, enhance patient safety, and improve the overall patient experience in retail, hospital, and long-term care settings.
Rising introduction of technologically advanced high volume dispensing systems is predicted to boost the market growth during the forecast period. High-volume dispensing systems are cabinets designed for the management and distribution of substantial quantities of medication inventory. The expanding presence of retail and mail-order pharmacies has led to an increased demand for efficient systems and software to manage and dispense substantial medication inventories. As a result, industry participants are concentrating on the advancement of technologically sophisticated high-volume dispensing solutions, thus driving market expansion. For instance, in April 2023, iA has unveiled NEXiA Enterprise Analytics, a cloud-based application tailored for pharmacy fulfillment. This software features a state-of-the-art intelligence application that enables customers to monitor pharmacy operations across multiple locations in real-time.
By product, systems/cabinets was the highest revenue-grossing segment in the global high volume dispensing systems market in 2023 owing to the high demand for efficient pharmacy workflows, combined with increasing concerns about the secure dispensing of medications, is a notable trend, growing number of pharmacies, surge in the number of prescriptions is the cause of the substantial growth in medication inventory, increasing technological advancements in cabinet designs for improving patient safety & prescription processing. For instance, in October 2023, iA has introduced two advanced robotics systems to enhance the capabilities of its centralized fulfillment solutions, catering to pharmacies of various sizes. The release of the iA 4 Liter Canister, iA Smart SecurePack, and Centralized Fulfillment Solutions for a range of pharmacy sizes represents another stride towards transforming the operations of pharmacies and their service to communities. Additionally, software solutions is predicted to grow at fastest CAGR during the forecast period owing to the increasing need for pharmacy software solutions to optimize workflow is becoming more prominent and the widespread use of high-capacity dispensing software solutions and systems is on the rise in a range of medical applications, particularly in cases involving controlled substances.
By end-user, retail pharmacies was the highest revenue-grossing segment in the global high volume dispensing systems market in 2023 owing to the increasing number of retail pharmacies & prescriptions has led to a substantial accumulation of medication stock, growing need for specialized medications is driving the demand for cabinets & software systems designed to safely & efficiently dispense these medicines, and rising introduction of advanced technologies. For instance, in March 2022, Omnicell has launched the IVX Station Robotic Compounding Technology, a fully automated system that not only decreases the likelihood of human errors but also offers advantages in terms of accuracy, patient safety, supply chain management, cost reduction, and compliance. Additionally, hospital pharmacies is predicted to grow at fastest CAGR during the forecast period owing to the rising demand for these systems in hospital pharmacies, the inventory discrepancies are on the rise, medication errors are increasing, growing emphasis on reducing workload, and surge in favorable initiatives by governments & private bodies to implement these systems in pharmacies.
North America region is anticipated for the highest revenue share during the forecast period owing to the presence of a large number of market players, growing healthcare infrastructure, surge in prevalence of chronic diseases, rising adoption of such cabinets & software by pharmacies & hospitals, increasing technological advancements, growing investments by leading market players in the sector of pharmacy automation, and surge in number of pharmacies. For instance, in March 2022, Walgreens Boots Alliance has introduced 22 micro-fulfillment centers in the United States, where robots are utilized to prepare customers' prescriptions. This development reflects the evolving roles of stores and pharmacists, with each robot capable of filling 300 prescriptions per hour. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing number of prescriptions, rising improvement in healthcare infrastructure, increasing incidence of dispensing errors, and mounting disease burden, and surge in mergers & acquisitions within market players. For instance, in July 2022, Becton, Dickinson, and Company successfully acquired Parata Systems, with the goal of delivering groundbreaking pharmacy automation solutions. This partnership is focused on providing a wide array of innovative pharmacy automation solutions to enable a growing network of pharmacies to reduce costs, enhance patient safety, and improve the overall patient experience in retail, hospital, and long-term care settings.
Segmentation: High Volume Dispensing Systems Market Report 2023 - 2034
High Volume Dispensing Systems Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Software Solutions
- Systems/Cabinets
High Volume Dispensing Systems Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Hospital Pharmacies
- Retail Pharmacies
High Volume Dispensing Systems Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. High Volume Dispensing Systems Market: Product Estimates & Trend Analysis
8. High Volume Dispensing Systems Market: End-user Estimates & Trend Analysis
9. Regional Market Analysis
10. North America High Volume Dispensing Systems Market
11. Europe Global High Volume Dispensing Systems Market
12. Asia Pacific Global High Volume Dispensing Systems Market
13. Latin America Global High Volume Dispensing Systems Market
14. MEA Global High Volume Dispensing Systems Market
15. Competitor Analysis
16. Company Profiles
Companies Mentioned
- iA
- ScriptPro LLC
- HEALTHMARK GROUP
- Omnicell Inc.
- R/X Automation Solutions
- ARxIUM
- McKesson Corporation
- Parata Systems
- TCGRx
- Health Business Systems Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 2.61 Billion |
| Forecasted Market Value ( USD | $ 6.23 Billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
