Key Market Overview:
High volume dispensing systems market size was worth USD 2.47 Billion in 2022 and is estimated to reach over USD 4.59 Billion by 2030, witnessing a CAGR of 8.05% during the forecast period (2023-2030).
High Volume Dispensing Systems (HVDS) are automated systems designed for the high-speed dispensing of liquids, such as pharmaceuticals, chemicals, and other industrial products. HVDS is used to dispense a variety of liquid volumes, ranging from a few milliliters to several liters, at a high throughput rate, which makes them particularly suitable for large-scale distribution environments.
HVDS typically consists of a control system, a pumping system, and a dispensing system. The control system manages the operation of the dispensing system, including regulating the flow rate and volume dispensed. The pumping system is responsible for moving the liquid from the source to the dispensing system. Depending on the application, HVDS uses a variety of pumping technologies, including peristaltic, diaphragm, and piston pumps. The dispensing system is where the liquid is dispensed, and also includes features such as nozzles, valves, and filling heads.
Furthermore, the need for such HVDS is especially witnessed across various regions due to increased expenditures on pharmaceutical developments that require accurate distribution through pharmacies. For instance, according to IQVIA MIDAS, there has been a significant surge in economic and research activities over the past few years in emerging economies such as Brazil, China, and India. This has resulted in a gradual shift of these activities from Europe to these rapidly expanding markets. Between 2016 and 2021, the markets in Brazil, China, and India witnessed a growth rate of 11.7%, 6.7%, and 11.8%, respectively, while the top 5 European Union markets and the US market registered an average market growth of 5.8% and 5.6%, respectively. Thus, such increased economic and research activities in pharmaceuticals are anticipated to create favorable circumstances for market growth in terms of the precise distribution of such pharmaceuticals via pharmacies.
High Volume Dispensing Systems Report Coverage:
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||4.59 Billion|
|CAGR (2023-2030)||8.05 %|
|By Product Type||Systems and Cabinets, Software|
|By Application||Dispensing, Material Handling, System Management, Inventory Management, Others|
|By End Use||Hospital Inpatient Pharmacies, Outpatient Pharmacies, Long-Term Care Pharmacies, Government Pharmacies, Specialty Pharmacies|
|By Geography||Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] |
Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey]
North America [United States, Canada, Mexico]
Middle East & Africa [GCC, North Africa, South Africa]
South America [Brazil, Argentina, Columbia, Chile, Peru]
|Key Players||Innovation Associates, Omnicell, Parata Systems, LLC (Becton, Dickinson, and Company), ScriptPro LLC, McKesson Corporation, Capsa Healthcare, Stockart, Talyst, LLC, Healthmark Services LTD, ARxIUM|
Rising automation in various industries, there is a growing need for dispensing systems that can accurately and efficiently dispense high volumes of liquids or solids. This is particularly important in the pharmaceutical and biotechnology industries, where precise dispensing is crucial for drug development and manufacturing. With the rise of personalized medicine, there is a growing need for customized dosage forms and formulations. High volume dispensing systems witness an increased demand among manufacturers to customize dosages and formulations to meet the specific needs of individual patients.
The initial investment for installing a HVDS is very high, which makes it unaffordable for some healthcare organizations. The cost of maintenance and repair is also high, which can deter healthcare facilities from adopting HVDS. Moreover, HVDS is mostly designed for specific medication dispensing needs, which means that it may not be able to meet the unique requirements of all healthcare facilities. This acts as a limiting factor for its adoption among healthcare providers who require specialized dispensing solutions.
The scope of technological advancements in high volume dispensing systems is expected to offer lucrative opportunities for high volume dispensing systems market growth during the forecast period. Manufacturers are continuously developing new and innovative products that offer improved accuracy, precision, and ease of use. For instance, the development of smart dispensing systems that could monitor and control dispensing processes in real time is anticipated to offer creative opportunities.
By Product Type
The product type segment is bifurcated into systems and cabinets, and software. The systems and cabinets segment accounted for the highest share of the high volume dispensing systems market statistics in 2022. The factors such as high configurability in terms of drawer design and access security, convenience for operations due to the presence of interactive touch screens, and easy integration within the information systems of pharmacies propel the demand for high volume dispensing systems and cabinets. Moreover, the software segment is projected to contribute substantial shares to the market growth in terms of volume. The growing need for software to automate various tasks in pharmacies such as reviewing prescriptions, preparing medications, managing inventory and orders, processing billing and insurance, providing counseling, identifying potential issues, and others are anticipated to propel segmental growth.
The application segment is separated into dispensing, material handling, system management, inventory management, and others. The dispensing segment contributed the highest shares to the market growth in 2022. Increased usage of HVDS for dispensing pharmaceutical products in conjunction with high daily prescription volumes is the major factor that propels segmental growth. Furthermore, the inventory management segment is also projected to support the market growth during the forecast period in terms of value and volume. Growing usage of HVDS for improved operational efficiency to reduce the overstocking of medical products is expected to propel the demand for such systems that help pharmacies reduce opportunity loss.
By End Use
The end-user segment is divided into hospital inpatient pharmacies, outpatient pharmacies, long-term care pharmacies, government pharmacies, and specialty pharmacies. The hospital inpatient pharmacies segment accounted for highest share contribution to the high volume dispensing systems market statistics in 2022. The internal pharmacy of a hospital has the responsibility of accurately and promptly filling prescriptions. Although the pharmacists working in the pharmacy are experts in medications, it is equally important that the technologies used by them are dependable and trustworthy, which involves increased dependency on HVDS.
Furthermore, the specialty pharmacies segment is also estimated to support the market growth in terms of volume and value. Specialty pharmacies specialize in providing medications to patients who have complex and/or chronic diseases. These medications often require special handling, specific storage needs, processing difficulties, and other unique requirements that make them more expensive than typical formulary drugs. Thus, such pharmacies require advanced HVDS during prescription processing for the management of patient care and finances due to the nature of these medications.
The regional segment includes North America, Europe, the Middle East and Africa, Asia Pacific, and Latin America. North America contributed the highest shares to the market growth in 2022. High adoption of automation within the healthcare industry due to increased government funding for healthcare improvement supports the market growth in the North American region. For instance, according to the World Health Organization
Also, Asia Pacific is estimated to register fastest CAGR over the forecast period in terms of value and volume. Increased investments in integration of automation, especially in pharmacies are anticipated to create favorable circumstances for market growth in the Asia Pacific region.
High Volume Dispensing Systems Market Competitive Landscape:
The market for high volume dispensing systems is highly competitive, with several established players and emerging businesses competing for market share. The market is expected to witness tremendous growth in the coming years, driven by increasing demand for medication management solutions in the healthcare industry. Following are major market players comprising the latest market environment–
• Innovation Associates
• Parata Systems, LLC (Becton, Dickinson and Company)
• ScriptPro LLC
• McKesson Corporation
• Capsa Healthcare
• Talyst, LLC
• Healthmark Services LTD
• In November 2022, Becton, Dickinson, and Company, a prominent medical technology company, was accompanied by government representatives from Mexico and Baja California to open a new manufacturing facility in Tijuana. The facility, which cost USD 38.6 million to build, is expected to produce medical devices and technologies designed to improve medication safety in healthcare environments.
• In July 2021, Parata Systems acquired Synergy Medical, a privately-held company that creates automation technologies for the preparation and dispensing of solid oral medications in blister cards. This acquisition is expected to allow Parata to improve its range of pharmacy automation technologies and better cater to the requirements of various types of pharmacies such as retail, hospital, long-term care, government, and direct-to-home pharmacies.
• In November 2020, ARxIUM completed a multi-year project aimed at enhancing the UNC Health Shared Services Center, UNC Hospitals, and Rex Hospital by integrating various automated systems and workflow solutions. As a result of these efforts, the healthcare system successfully achieved improved pharmacy safety and operational efficiencies.