The Global High Volume Dispensing Systems Market to Rapidly Escalate To $3.11 Billion by 2028
High Volume Dispensing Systems Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The high volume dispensing systems market size has grown significantly over recent years. The size, which was $2.14 billion in 2023, is expected to grow to $2.30 billion in 2024 at a compound annual growth rate CAGR of 7.6%. This growth is attributed to increasing production capacities in pharmaceutical industries, an increasing use of advanced fluid control systems, a surge in demand for bulk liquid handling systems, growth in demand for efficient adhesive dispensing solutions, and an escalating demand for continuous production lines.
What’s Boosting the Global High Volume Dispensing Systems Market?2 What’s the Future Growth Projection?
The high-volume dispensing systems market has a positive outlook for the years ahead. Thanks to the increasing number of retail and hospital pharmacies, the increasing number of prescriptions, growing adoption of pharmacy automation systems, and rising demand in the automotive industry for miniaturized electronic devices. These factors are expected to propel the market size to a significant $3.11 billion by 2028 at a compound annual growth rate CAGR of 7.9%. Major trends in the forecast period include technological advancements, integration of automation technologies, integration of IoT, sustainable dispensing solutions, and robotics.
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What’s Driving the Upward Trajectory of the High-Volume Dispensing Systems Market?3
One of the crucial factors propelling the growth of the high-volume dispensing systems market is the increasing number of prescriptions. Prescriptions are written orders from a healthcare provider, permitting patients to receive and use specific medications. The increment in the number of prescriptions can be attributed to several factors, including an aging population, rising prevalence of chronic diseases, expanded access to healthcare, and advancements in medical treatments.
High-volume dispensing systems help streamline this process, allowing pharmacies and healthcare providers to manage large prescription volumes efficiently. This increased efficiency is facilitated through higher speed, improved accuracy, and reduced manual errors. An American example reveals that in October 2023, as per the National Community Pharmacists Association, a US-based organization that represents independent community pharmacists, the average prescription volume per store rose to 66,218, up from 63,228 prescriptions in 2021.
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What Are the Key Players Doing in the High Volume Dispensing Systems Market?
Major companies operating in the high-volume dispensing systems market are focusing their efforts on developing advanced technologies. One example is the next-generation automatic paint dispensers, designed to offer highly accurate and precise dispensing. These cutting-edge devices provide greater precision, efficiency, and ease of maintenance, making them ideal for high-volume operations. Specifically, in March 2022, Fluid Management, a US-based paint dispenser, launched the AccuSmar, a new series of automatic paint dispensers. It includes AccuSmart 7500 and 9500. These models enhance efficiency, ergonomics, and productivity in high-volume paint dispensing.
How Is the High Volume Dispensing Systems Market Segmented?
The high volume dispensing systems market shows varying trends across its different segments:
1 By Product Type: Systems And Cabinets, Software
2 By Material: Adhesives, Sealants, Lubricants, Epoxies, Greases
3 By End-Use: Retail Pharmacy, Hospital Pharmacy, Long-Term Care Pharmacy, Other End-Users
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