Medical
Vending Machines: Introduction
·
A medical
vending machine is an automated device used to dispense healthcare items
such as antibiotics, inhalers, cough syrups, painkillers, etc.
·
Major components of the machine include a
scanner to gather input from user; a system that includes servo motors for
dispensing medication; large storage space to store pills; sensors to detect
the motion of pills; an inventory monitoring system to keep track of storage;
an industrial standard vertical foam fill machine to pack medication
separately; and a non-contact laser inkjet printer to print the description
that includes the time at which the medicine must be taken
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Key
Drivers and Restraint of Global Medical Vending Machines Market
·
A medical vending machine has the
capability to scan barcodes, sort medicines, and dispense the required medicine
packets efficiently and effectively, as no human intervention is required in
the entire process. This is expected to boost the medical vending machines
market.
·
Increase in demand for 24X7 medical
services is anticipated to propel the medical vending machines market across
the globe
·
Rise in demand for OTC and prescription
drugs in remote areas with limited or no healthcare infrastructure is
anticipated to further fuel the market
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·
A shortage of staff in hospitals and
pharmacies, where the pharmacist has to attend each client for prescription as
well as for OTC medications, can be overcome by the installation of medical
vending machines. This, in turn, is estimated to boost the market during the
forecast period.
·
Technological advancements in medical
vending machines, such as the utilization of liquid crystal display (LCD)
touchscreens, machines incorporated with online or digital payment modes
through applications, and incorporation of assisted audio-visual technology,
are expected to fuel the adoption these machines
·
Use of digital payment options has reduced
coin fraud, which was a major disadvantage. This, in turn, is likely to fuel
the global market in the next few years.
·
Lack of healthcare infrastructure in
developing countries and requirement of high investment for installation and
maintenance are expected to restrain the global medical vending machines market
during the forecast period
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North
America to Lead Global Medical Vending Machines Market
·
In terms of region, the global medical
vending machines market can be segmented into North America, Europe, Asia
Pacific, Latin America, and Middle East & Africa
·
North America accounted for a prominent
share of the global medical vending machines market in 2019 due to the presence
of major players and increase in healthcare infrastructure & awareness
·
Europe is likely to follow North America
and account for significant share due to technological advancements in medical
vending machines and increase in healthcare expenditure
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·
The medical vending machines market in Asia
Pacific is projected to expand at a notable CAGR during the forecast period
owing to a rise in healthcare spending by the population, increase in demand of
24-hour pharmacies, and requirement of OTC & prescription drugs in remote
locations
·
The medical vending machines market in
Latin America and Middle East & Africa is likely to expand at a steady pace
during the forecast period due to rapid expansion of economies and evolving
infrastructure of healthcare in these regions
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