The surging incidence of medication errors is one of the major factors responsible for the increasing sales of automated dispensing machines across the globe. The prescription of inaccurate dosage of drugs to the patients is one of the major types of inpatient medication errors in healthcare settings and it has been found to cause adverse medication reactions and side effects in a large number of patients around the world. As per the National Center for Biotechnology Information (NCBI), nearly 7,000–9,000 deaths are caused due to medication errors in the U.S. every year.
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The increasing incidence of chronic diseases is another important factor fuelling the rise in the demand for automated dispensing machines all over the world. The soaring incidence of cardiovascular and neurological diseases and cancer is boosting the requirement of drugs and also causing a huge spike in the hospitalization rates throughout the world. For example, as per the World Health Organization (WHO), 9.6 million people died because of cancer all over the globe in 2018 and cardiovascular diseases (CVDs) recorded for 31% of all the deaths in the world in 2016.
Owing to the above-mentioned reasons, the revenue generated from the global sales of automated dispensing machines is predicted to rise from $1.4 billion to $2.3 billion from 2018 to 2024. The global automated dispensing machines market is predicted to progress at a CAGR of 7.8% during the forecast period (2019—2024). There are mainly two types of automated dispensing machines used throughout the world— centralized and decentralized systems. Between the two, the decentralized systems are predicted to register faster growth in usage during the forecast period, primarily because of the increasing hospitalization rates all over the world.
Automated dispensing machines are extensively used in out-patient and in-patient care. Of these, the usage of automated dispensing machines is expected to increase at a faster rate for in-patient care during the forecast period. This is due to the increasing incidence of chronic diseases across the world. Automated dispensing machines are adopted in pharmacies, retail drug stores, and hospitals. Amongst these, hospitals are expected to record the highest utilization of automated dispensing machines over the coming years, on account of the surging population of patients and rising healthcare expenditure in several countries all around the world.
Therefore, the sales of automated dispensing machines is expected to surge throughout the world in the coming years, owing to the increasing geriatric population and the rising prevalence of chronic and cardiovascular diseases all over the world.
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