Medical Vending Machine Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 6.47 Billion |
| Market Size (2029) | USD 8.33 Billion |
| CAGR (2024 - 2029) | 5.18 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Medical Vending Machine Market Analysis
The Medical Vending Machines Market size is estimated at USD 6.47 billion in 2024, and is expected to reach USD 8.33 billion by 2029, growing at a CAGR of 5.18% during the forecast period (2024-2029).
The growing need of the 24/7 availability of medical necessities is boosting the product sales. The growth can also be attributed to the machines ability to deliver medicines quickly making it extremely convenient option for patients. In addition, flexibility, in terms of location with the option to operate without any manual intervention makes them ideal for use in hospitals and pharmacies. Medical vending machines are highly effective as they help save labor costs, which is also bolstering their demand.
Technological innovations, such as controlled access modules, secure drug storage, offsite control of all medications and big data integration, making the product easier and more convenient to use will also have a positive impact on the demand. With such advancements, medical vending machines can also now deliver disease specific requirements. In September 2019, Capsa Healthcare launched NexsysADC 4T Countertop Dispensing Unit, which is a countertop version of the automated dispensing cabinet.
However, lack of healthcare infrastructure in developing economies coupled with various risks associated with misuse and hacking of medical vending machine may act as a major challenge for the industry.
Medical Vending Machine Market Trends
Pharmacies Segment is Expected to Witness a Healthy CAGR
- Pharmacies by end user segment is expected to witness a healthy growth through the forecast period. The staffing issues where pharmacists need to attend every customer for prescription as well OTC drugs can be overcome by installation of medical vending machines. In addition, medical vending machines assist pharmacies in reducing the risk of diversions along with increased medication safety.
- Moreover, mounting adoption of automatic medicine vending machines in pharmacies to increase medication availability through decentralized medication management acts as a major growing factor for the segment growth.
North America Dominates the Market and is Expected to Continue the Same during the Forecast Period
North America is leading owing to the presence of major market players. Furthermore, factors such as increasing healthcare infrastructure and technological advancements in medical vending machines are expected to drive the regional growth. Educational and community institutions in the region are making campaigns and educating individuals about various diseases and its management will boost the growth further.
Asia Pacific is projected to be a lucrative region for medical vending machines market. Increasing healthcare funding and government initiatives to promote the disease awareness are the major factors aiding regional growth. Furthermore, adoption of new technology in developing economies is also anticipated to boost the growth in near future.
Medical Vending Machine Industry Overview
Key players operating in the market are Becton, Dickinson and Company, Capsa Healthcare, CVS Health, InstyMeds, Magex, Omnicell, Parata Systems, Pharmashop24 srl, ScriptPro LLC, Xenco Medical among others. These players are engaged in developing advanced solutions by integrating modern technologies, such as mobile payments to simplify the payment process, sensors to detect the motion of pills thereby enhancing the buying experience of customers.
Medical vending machine manufacturers are also involved in developing disease-specific solutions that can satisfy the requirement of customers with advanced features and functions. For instance, in March 2019, Xenco Medical launched surgical vending machine for spine surgery instruments and implants that ensured safe and effective dispense of spine surgery implant.
Medical Vending Machine Market Leaders
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Becton, Dickinson and Company
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Capsa Healthcare
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CVS Health
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InstyMeds
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Xenco Medical
*Disclaimer: Major Players sorted in no particular order
Medical Vending Machine Market News
- In March 2024, Bulgaria's recent amendment to the Medicinal Products in Human Medicine Act permitted citizens to obtain non-prescription medicines from vending machines outside pharmacies.
- In June 2023, The NYC Department of Health and Mental Hygiene, in collaboration with Services for the Underserved (S:US), introduced New York's public health vending machine. The initiative aims to ensure round-the-clock access to crucial harm reduction supplies, aligning with objectives set in the city's mental health plan.
Medical Vending Machine Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Dependency on Prescription Medicines in Remote Areas
4.2.2 Increasing Demand for Efficient Inventory Management
4.2.3 Technological Advancements In Medical Vending Systems
4.3 Market Restraints
4.3.1 Risk Associated With misuse and Hacking
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Benchtop Medical Vending Machine
5.1.2 Floor Standing Medical Vending Machine
5.2 By End User
5.2.1 Hospitals
5.2.2 Retail Pharmacies
5.2.3 Others
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Becton, Dickinson and Company
6.1.2 Capsa Healthcare
6.1.3 CVS Health
6.1.4 InstyMeds
6.1.5 Magex
6.1.6 Omnicell
6.1.7 Parata Systems
6.1.8 Pharmashop24 srl
6.1.9 ScriptPro LLC
6.1.10 Xenco Medical
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Medical Vending Machine Industry Segmentation
Medical vending machines are the automated machines used to dispense prescription drugs, medical devices and miscellaneous medical products by paying through an interface. The medical vending machines can be installed at a suitable place depending on the utility of the machine. Medical vending machines market is segmented by product type, end user and geography.
| By Product Type | |
| Benchtop Medical Vending Machine | |
| Floor Standing Medical Vending Machine |
| By End User | |
| Hospitals | |
| Retail Pharmacies | |
| Others |
| Geography | ||||||||
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Medical Vending Machine Market Research FAQs
How big is the Medical Vending Machines Market?
The Medical Vending Machines Market size is expected to reach USD 6.47 billion in 2024 and grow at a CAGR of 5.18% to reach USD 8.33 billion by 2029.
What is the current Medical Vending Machines Market size?
In 2024, the Medical Vending Machines Market size is expected to reach USD 6.47 billion.
Who are the key players in Medical Vending Machines Market?
Becton, Dickinson and Company, Capsa Healthcare, CVS Health, InstyMeds and Xenco Medical are the major companies operating in the Medical Vending Machines Market.
Which is the fastest growing region in Medical Vending Machines Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Medical Vending Machines Market?
In 2024, the North America accounts for the largest market share in Medical Vending Machines Market.
What years does this Medical Vending Machines Market cover, and what was the market size in 2023?
In 2023, the Medical Vending Machines Market size was estimated at USD 6.13 billion. The report covers the Medical Vending Machines Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Medical Vending Machines Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Medical Vending Machine Industry Report
Statistics for the 2024 Medical Vending Machine market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Medical Vending Machine analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Medical Vending Machine Market Report Snapshots
