Automatic Pill Dispenser Market Will Register A CAGR Of 7.3% Through 2024

Market Research Future (MRFR) collected data on several factors including implications of COVID 19 Impact on Automatic Pill Dispenser Market and demographic challenges, showed how it could move forward in the coming years.

Automatic Pill Dispenser Market Overview

Automatic pill dispensers are systems designed to dispense medicines without the need for supervision. This would be beneficial to the elderly and patients unable to stand in long queues. It can manage complex medication regimes and reduce waiting times at pharmacies. In addition, the presence of these machines in retirement communities and assisted living facilities can reduce the shift times of nurses. It can also lower complexities in distribution of medicines. The global automatic pill dispenser market report by Market Research Future (MRFR) takes a look at the various factors surrounding the industry and makes projections for the period of 2019 to 2024 (forecast period).

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Automatic Pill Dispenser Market Competitive Outlook

Becton, Dickinson and Company, Yuyama Co.Ltd., McKesson Corporation, Omnicell Inc., Cerner Corporation, Swisslog Holdings AG, Capsa Healthcare, Talyst, Inc., ScriptPro LLC, and Baxter International Inc. are key players of the global automatic pill dispenser market.

Automatic Pill Dispenser Market Outlook

The global automatic pill dispenser market is set to exhibit a CAGR of 7.3% over the forecast period. It was valued at USD 1700 million in 2018.

The growing numbers of the geriatric population is one of the primary drivers of the market. The elderly find it difficult to adhere to medication refills and automated pill dispensers can lend its assistance in this regard. According to the World Health Organization (WHO), the population of the elderly can magnify to 22% of the global population by 2050.

Other factors driving market growth include adoption of pill dispensers in home care centers, rise in regulatory approvals of drugs, advances in automatic pill dispensing systems, and awareness of timely intake of medications. The use of these pill dispensing systems to reduce the rounds of doctors and nurses as well as assist patients in attaining their daily nutrient intake can bode well for the global automatic pill dispenser market.

But high costs of these systems can hamper market growth.

Automatic Pill Dispenser Market Segmentation

The global automatic pill dispenser market is segmented based on type and end user.

The global automatic pill dispenser industry is segmented by type into centralized automated dispensing system and decentralized automated dispensing system. The centralized automated dispensing system is further segmented into robotic automated dispensing systems and carousels. Furthermore, decentralized automated dispensing systems are segmented into automated unit dose dispensing system, pharmacy-based automated dispensing system, and ward-based automated dispensing system.

Based on end user, the market is segmented into home healthcare, hospital pharmacy, and retail pharmacy.

Automatic Pill Dispenser Market Regional Analysis

In the current scope of the study, the segments mentioned above are covered into the four global regions, namely, the Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA).

The Americas had dominated the market owing to the large geriatric population in the region. The allocation of a large amount of healthcare expenditure for assisted living facilities and hospitals for dispensing medicines to the elderly can drive the market demand. According to the World Health Organization, the U.S. geriatric population can account for more than 20% of the total population in the country. High prevalence of chronic diseases such as cardiovascular diseases (CVD), diabetes, cancer, and others as well as efforts by pill dispensing manufacturers to improve the system for making it accessible for the elderly can augur favorably for the global automatic pill dispenser market.

Europe had assumed the second position in the global owing to receiving funds for research and development and technological advances in these systems. Adherence to medications is the primary driver of the regional market. According to the National Health Service (NHS), close to USD 124 million of drugs had to be returned due to its non-utilization.

 

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