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Remote Dispensing Systems Market Size, Share and Industry Analysis Report, Regional Outlook, Application Development Potential, Competitive Market Share & Forecast, 2024 – 2032
- Report ID: GMI4531
Remote Dispensing Systems Market Size
Remote Dispensing Systems Market size is projected to expand at substantial CAGR from 2024 to 2032, majorly attributed to the increasing demand for long-term care in rural areas, particularly in North America with the growing geriatric population requiring easy access to medications. In regions like the U.S., where rural populations often rely on mail services for medication procurement due to the lack of nearby pharmacies, remote dispensing systems are gaining immense prominence.
The presence of leading industry players and pharmaceutical giants in several emerging countries will positively influence the industry gains, further fostering innovations and higher adoption of advanced dispensing technologies. However, the higher costs of remote dispensing units and the restricted in-person interaction between pharmacists and patients may impede the product uptake to a certain degree.
Remote Dispensing Systems Market Trends
The integration of advanced technologies, such as robotics and AI to facilitate enhanced medication management will further shape the industry growth curve. Remote dispensing systems are increasingly adopting cloud-based platforms for data management and analytics for improving operational efficiency. Additionally, the focus on expanding tele pharmacy services and increasing adoption of such systems will drive the product appeal. According to the 2022 Centers for Medicare and Medicaid Services (CMS) report, the U.S. health expenditure reached approximately USD 4.3 trillion, marking a USD 173 billion increase since 2021.
Remote Dispensing Systems Market Analysis
Based on type, the on-premises remote dispensing systems industry is estimated to record a substantial growth rate from 2024 to 2032. This is due to the enhanced data security, control over system customization, and reduced dependence on external networks. Several healthcare facilities are also opting for on premise solutions and prioritizing in-house management with specific requirements for customization.
Remote dispensing systems market share from the outpatient application segment is projected to depict significant gains through 2032. This is owing to the growing number of admissions in long-term facilities, and home care settings. With the increasing geriatric population, the count of outpatient visits and the need for home-care treatments will increase, adding to the segment expansion.
The North America remote dispensing systems market is estimated to depict significant CAGR from 2024 to 2032. The growing need for long-term care in rural areas can be attributed to the increasing elderly population across the region. In the U.S., the rural population often obtains medications through mail services due to limited access to pharmacies. To that end, remote dispensing systems are gaining traction as they expedite drug delivery and facilitate convenient access.
According to a recent report in the American Journal of Health-System Pharmacy (AJHP), there is an anticipated increase in overall spending on prescription drugs compared to 2022 over the next year. The report suggested that drug expenditures in the U.S. were expected to rise by 6% to 8% overall in 2023. The rising footfall of hospital admissions will also contribute to the regional industry expansion.
Remote Dispensing Systems Market Share
Some of the major remote dispensing systems companies are:
- McKesson Corporation
- Omnicell Inc.
- Talyst
- Becton Dickinson and Company
- ARxIUM Inc.
- RxSafe
- Cerner Corporation
- InstyMeds MedAvail Technologies Inc.
- ScriptPRO LLC.
Significant companies operating in the remote dispensing systems industry are engaged in various development strategies like new product developments, partnerships and expansions to strengthen their market footprint across the globe. These industry players are also implementing R&D initiatives to gain competitive edges.
Remote Dispensing Systems Industry News:
- In October 2023, JVM, an affiliate of Hanmi Science, successfully introduced a cutting-edge, next-generation automated drug dispensing machine featuring a robotic arm for the European market.
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