Automatic Pill Dispenser Machine Market Overview:
Global Automatic Pill Dispenser Machine Market accounted for $1,755 million in 2016, and is estimated to reach $3,023 million by 2023, growing at a CAGR of 8% during the analysis period (2017-2023). There is a high prevalence of diseases worldwide, hence an increase in the number of medications. Automatic pill dispenser machines support the minimization of errors that occur while dispensing medications.
Rise in incidence and prevalence of diseases drives the market. In addition, growth of geriatric population that is susceptible to taking medications for their wellbeing is expected to fuel the growth of the market during the analysis period. However, high cost of installation of large automatic pill dispenser machines is anticipated to restrict the market growth.
Automatic Pill Dispenser Machine Market Segmentation
Based on type, the global automatic pill dispenser machine market is categorized into centralized automated dispensing systems and decentralized automated dispensing systems. Centralized automated dispensing systems held the highest market share and is expected to grow with the highest growth rate during the forecast period. Increase in adoption of automatic pill dispenser in hospitals and other healthcare facilities for an effective workflow fuel the growth of the centralized automated dispensing systems market. On the basis of end user, hospital pharmacy held the highest market share owing to increase in prevalence of diseases and trauma cases in hospitals.
By geography, the global automatic pill dispenser machine market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America held the largest share of the market in 2016, followed by Europe. On the other hand, Asia is anticipated to be the fastest-growing regional segment during the analysis period. The key factors that drive the growth of this market include increase in pool of patient population, growth in prevalence of infectious and chronic diseases, and rise in government investments for the development of better healthcare facilities and R&D. Asia-Pacific is expected to emerge as the area with maximum growth potential due to the focus of key players in the emerging economies and improvements in healthcare infrastructure.
Reduction in Medication Error
Medication errors include failure in the drug prescription and/or dispensing process that is widespread, complex, and risky. The patient wellbeing depends on the medications and slight change in dose or medication intake that leads to lethal side effects to the patients. In addition, these errors result in unwanted lifetime disability and other such adverse effects that increase in hospital stay and healthcare costs. In 2015, the U.S. Centers for Disease Control and Prevention report stated that, approximately 91 people died every day from overdose of prescribed opioids and heroin. Thus, increase in usage of automatic pill dispenser machine for the minimization of errors related to medication dispensing and usage drives the market growth.
Large Pool of Geriatric Population
The global geriatric population has increased significantly and is vulnerable to various cardiac disorders, such as stroke, cardiac arrest, cardiomyopathy, and arrhythmias. According to the Journal of American Medical Association, more than 40% of older population (55 age and above) of America administer at least five medications a day. With increase in aging, some degree of memory loss is common in older population. This increases the incidences of dosage skip or overdose that may lead to health complications. Therefore, the escalation in rate of the geriatric population is expected to raise the demand for medications, thereby driving the automatic pill dispenser machine market.
Major companies operating in this market adopt product launch as their key development strategy. Companies profiled in this market include Baxter International Inc., Becton, Dickinson and Company, Cerner Corporation, Capsa Healthcare, McKesson Corporation, Omnicell Inc., ScriptPro LLC, Swisslog Holdings AG, Talyst, Inc., and Yuyama Co., Ltd.
Other prominent players in the value chain include Illinois Tool Works, Pearson Medical Technologies, Accu-Chart Plus Healthcare System, Allscripts Healthcare Solutions, Inc., Meditech, Constellation Software Inc., and Optum Inc.
Key Benefits :
- The study provides an in-depth analysis of the automatic pill dispenser machine market with current trends and future estimations to elucidate the imminent investment pockets
- The report provides a quantitative analysis from 2016 to 2023 to enable the stakeholders to capitalize on prevailing market opportunities
- Extensive analysis by product and application helps understand various trends and prevailing opportunities in the respective market
- Comprehensive analysis of all geographical regions is provided, which determines the main opportunities in these geographies
- Key market players are profiled and their strategies are analyzed thoroughly, which predict the competitive outlook of the market
Automatic Pill Dispenser Machine Market Key Segments:
- Centralized Automated Dispensing Systems
- Robots/Robotic Automated Dispensing Systems
- Decentralized Automated Dispensing Systems
- Pharmacy-Based Automated Dispensing Systems
- Ward-Based Automated Dispensing Systems
- Automated Unit Dose Dispensing Systems
- Hospital Pharmacy
- Retail Pharmacy
- Home Healthcare
- By Indication
- Old age
- Visual Impairment
- Physical Disability
- Parkinson's Disease
- Mental Health excluding dementia
- Learning difficulties
- By Age-group
- 18-64 Years
- 65-74 Years
- 75-84 Years
- 85 Years and Above
- By Indication
- North America
- Latin America
- Middle East