Medication Dispensing & Packaging Systems Market – Quest for Optimized Operations to Drive Adoption

Despite being a relatively new landscape, the medication dispensing & packaging systems market is growing at an above-average rate of ~7%, and will continue to advance, as patients and medical personnel demand automated solutions that help eliminate medication errors. These systems will hold high prominence for the manufacturing of single-dose sachets to offer a precise dose of drugs to the geriatric population.

Notwithstanding the steady growth of this landscape, the average healthcare infrastructure in developing countries could take some time before unlocking a mine of consolidation opportunities for players in the medication dispensing & packaging systems market. However, in the future, these systems will remain central to optimize marginal growth for the automation-seeking pharmaceutical industry, by achieving improved production capacity and reduced overhead cost.

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medication dispensing packaging systems market infographic

Space Limitations and Budget Constraints to Undermine Sales Potential

Considering sales in the medication dispensing & packaging systems market in 2018, which were tantamount to ~220 units, equaling to a value of ~US$ 205 Mn, the per-unit price of these systems is estimated to be in the range of US$ 900 thousand to US$ 1 Mn. This steep price narrows down the clientele base to only the large-sized and a few mid-sized pharmacies, while sales opportunities from the small-scale pharmacies’ space have to wait till the prowess of medication dispensing & packaging systems is well-established by the practical use cases of these systems and their RoI potential.

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Also, operating in a confined area, local pharmacies could see these systems as space-obstructing equipment. To add to the one-time investment in these systems, additional cost requirements to skill-train employees and purchase raw materials in bulk quantities to meet the high-speed production could add up to the extravagance.

Assessing Underlying Opportunities Present in Medication Dispensing & Packaging Systems Market

Since the gravity of cost concerns can be gauged by an average deployment rate of these systems, as mid- and small-sized pharmacies see them as an investment with a long time to gain payback, players in the medication dispensing & packaging systems market can squeeze their profit margins to a level that makes these systems somewhat affordable.

Yet another effective strategy to resolve both, space and cost issues, can be devised through smart-sizing of medication dispensing & packaging systems. Smaller electronic components with increased efficiency can help in enhancing the ‘portability’ quo, and, in turn, be easy on the pockets of pharmacies of all scales.

Need for Speed to Increase Preference for Systems Operating at Above 40 ppm

As per the TMR study, in 2019, medication dispensing & packaging systems operating at a speed of over 40 packages/minute will account for ~63% of the sales, as the appetite for productivity increases among pharmacies. High uptake in drugs coming in from hospital pharmacies is likely to channelize the adoption of high-speed package producing systems to cater to a wide base of patients. In addition, the traditional hold of long term care pharmacies on patients is likely to catalyze high investments in these systems. However, systems with a capacity to produce packages between the range of 20 units/minute to 40 units/ minute are projected to remain popular among pharmacies catering to a comparatively smaller pool of patients.

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Medication Dispensing & Packaging Systems Market: Overview 

  • According to Transparency Market Research’s latest market report on the medication dispensing & packaging systems market for the historical period of 2014-2018 and forecast period of 2019-2027, the need for efficient and errorless mediation adherence systems is projected to drive market growth.
  • Globally, revenue generated by the medication dispensing & packaging systems market has been estimated to be valued at ~US$ 220 Mn in 2019, and is expected to clock at a CAGR of ~7% in terms of value during the forecast period.

Need to Lessen Unfavorable Incidents of Medication Errors

  • The medicine supply chain in hospitals and large pharmacies goes through various steps, which makes it challenging to maintain errorless dispensing and packaging. Manual medication dispensing involves adverse incidents that damage the packaged medicine. Automation of dispensing and packaging processes in pharmacies can provide a more efficient and secured supply chain. In addition, key players adopt medication dispensing & packaging systems to minimize errors and the required workforce.
  • The auditing and proper adherence of medicines is also driving market growth for pharmacy automation systems. The expedition of medication dispensing with minimal or zero error is the key factor that creates the need for advanced automated systems, thereby propelling the growth of the medication dispensing & packaging systems market. Positive results in the reduction of medication errors after installing pharmacy automation systems are attracting many hospitals.

Development of Pharmacies to Focus on Quality Care and Time Dedication

  • With the rise in problems related to the geriatric population, one of the challenges is multiple medication management with variable dosing plans. This is increasing the need for accurate and automated medication dispensing & packaging systems and pharmacy services.
  • Pharmacies are evolving and working for the development of offerings to serve patients with quality care and dedicated time. The adoption of automation by pharmacies is a key move to enhance the current process with accuracy and deduction in dispensing time. Pharmacy automation providers work on requirement fulfillment and consulting to boost automation in existing pharmacy businesses. Medication dispensing & packaging systems with more canisters and device connectivity are playing a key role in standardizing pharmacy automation. 

High Concentration Medication Dispensing & Packaging Systems Market in North America

  • Companies are continuously working to improve the efficiency of medication dispensing & packaging systems, and speed up medication adherence. Increasing demand for high-speed medication dispensing & packaging systems from North America and Europe is expected to be a key driver for the growth of the 40 ppm medication dispensing & packaging systems segment during the forecast period.
  • Above 300 canisters medication dispensing & packaging systems are expected to witness fast-paced growth during the forecast period, due to the adoption by long-term care pharmacies and hospitals in the United States and European countries. Medication dispensing & packaging systems with maximum canisters require more space and high investments, which creates high reluctance from retail and mail-order pharmacies. 

Research and Development a Significant Move by Manufacturers to Stand Out in the Competition 

  • Manufacturers and suppliers in the medication dispensing & packaging systems market are highly concentrated on research and development activities. New product launches and development are anticipated to be key actions to be taken up by pharmacy automation industry leaders to stand out in the competition.
  • Significant players in pharmacy automation are making high efforts to attract pharmacies and adopt medication dispensing & packaging systems. In the last decade, the acquisition of healthcare device companies and collaboration with software service providers by industry leaders are attributed to illustrate a new era of automation systems in pharmacies.

Medication Dispensing & Packaging Systems Market: Growth of Sales Channels in Developing Countries 

  • Emerging countries such as China, Brazil, Mexico, South Korea, India, Turkey, and Russia are investing more on healthcare infrastructure. Rising healthcare expenditure and awareness to enhance pharmacy solutions are expected to be beneficial factors for the development of the pharmacy automation market in emerging countries.
  • Manufacturers of medication dispensing & packaging systems have the opportunity to establish manufacturing or service centers in emerging markets to gain the trust of customers in buying products. Manufacturers can also develop a relationship with local distributors or similar operation businesses in the target market.

Medication Dispensing & Packaging Systems Market – Competition Landscape

  • Some of the key players operating in the global medication dispensing & packaging systems market are Swisslog Holding AG, JVM Co., Ltd., Omnicell, Inc., YUYAMA Co., Ltd., ARxIUM Inc., and Global Factories B.V. 
  • Swisslog Holding AG, JVM Co., Ltd. and Omnicell, Inc. have been identified as tier 1 players operating in the global medication dispensing & packaging systems market. YUYAMA Co., Ltd., ARxIUM Inc. and Global Factories B.V. are tier 2 players with 8-10% share of the global medication dispensing & packaging systems market.
  • The bargaining power of medication dispensing & packaging system suppliers is relatively moderate. There are only six manufacturers of medication dispensing & packaging systems across the globe.

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