New York, United States, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The Global Automatic Pill Dispenser Market Size is to Grow from USD 2.44 Billion in 2022 to USD 5.19 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.8% during the projected period.
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Automatic pill dispensers are devices that deliver medication at predetermined intervals to assist patients in adhering to their medication regimen. When it's time to take the medication, this device alerts the patient. These devices have been credited with saving lives as well as money in the health-care system. To assist with medication monitoring and reminders, advanced models can be linked to a medical facility via the Internet. The rising prevalence of chronic diseases such as Alzheimer's and osteoarthritis could drive the global automatic pill dispenser market. Remembering to take the right medication at the right time every day is a major concern for people living with Alzheimer's disease or dementia. Seniors, in particular, who live alone and find it difficult to take the proper medication due to a variety of factors. The use of an automatic pill dispenser benefits seniors in particular who live alone and find it difficult to take the correct medication due to complex medication regimens. Key factors driving the global automated dispensing systems market during the forecast period include increased health and safety awareness in order to reduce medication errors, increased adoption of processes to control inventory costs, technological advancements, and improved healthcare infrastructure. The use of automatic pill dispenser machines is expected to increase significantly as technology advances and the prevalence of infectious and chronic diseases among the geriatric population rises. Recent developments and ongoing research in this field have fuelled market growth.
COVID 19 Impact
The hampered global supply chains that affected the manufacturing and delivery of various goods, including automatic pill dispensers, the COVID-19 pandemic had a negative impact on the automatic pill dispenser industry in 2020. Disruptions in the supply chain caused shortages and delays in the availability of dispensers, limiting user access. Because resources and attention have been diverted to pandemic-related issues, the introduction and integration of automated pill dispensers into healthcare systems has been halted.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on "Global Automatic Pill Dispenser Market Size, By Type (Decentralized Automated Dispensing Systems, Centralized Automated Dispensing Systems), By Indication (Physical Disability, Neurodegenerative Disorders, Dementia, Others), By Application (pharmacy, Retail Pharmacies, Hospital), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The centralized automated dispensing systems segment dominates the market with the largest revenue share over the forecast period
Based on the type, the global automatic pill dispenser market is segmented into decentralized automated dispensing systems and centralized automated dispensing systems. Among these, the centralized automated dispensing systems segment is dominating the market with the largest revenue share over the forecast period. Centralised automated dispensing systems are electronic devices used in healthcare facilities to securely store, distribute, and track medications. Centralised automated dispensing systems automate medication distribution, reducing errors, increasing efficiency, and ensuring patient safety. Improve inventory management and lower the risk of medication errors by allowing only authorised individuals to access the cabinets and electronically recording every transaction
The physical disability segment is witnessing significant CAGR growth over the forecast period.
On the basis of indication, the global automatic pill dispenser market is segmented into physical disability, neurodegenerative disorders, dementia and others. Among these, the physical disability segment is witnessing significant growth over the forecast period. The rise of the automatic pill dispenser market's physical disability segment can be attributed to a growing awareness of the difficulties that people with physical limitations face in adhering to complex medication regimens. With the rising prevalence of chronic diseases and the world's ageing population, there is a greater need for user-friendly and accessible healthcare solutions. Automatic pill dispensers help people with physical disabilities manage their medications on their own, promoting adherence and lowering the risk of medication errors.
The hospital segment is expected to hold the largest share of the global Automatic Pill Dispenser market during the forecast period.
Based on application, the global automatic pill dispenser market is classified into pharmacy, retail pharmacies and hospital. Among these, the hospital is expected to hold the largest share of the automatic pill dispenser market during the forecast period. As a result, hospitals dominated the market for automatic pill dispensers, and this system is mostly used in hospitals. The computerised automatic pill dispenser used in hospitals is a sophisticated system for comprehensive drug dispensing process management that eliminates human error, subtracts drugs from the central inventory in real-time, and updates clinical case records.
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North America dominates the market with the largest market share over the forecast period.
North America dominates the market with the largest market share over the forecast period. In North America, technological advancements in healthcare infrastructure are well-established. Several factors, including increased awareness of the benefits of automatic pill dispensers in improving patient care. The increasing safety and reduction of medication errors, as well as the strong presence of key industry players. A large customer base and widespread adoption of advanced healthcare solutions. The healthcare system in North America, which provides universal coverage, promotes access to healthcare services, including medication management solutions. Furthermore, seniors frequently require medication management assistance. As technology advances and mobile apps are integrated, consumers are becoming more interested in automatic pill dispensers.
Europe is expected to grow the fastest during the forecast period. Automatic pill dispensers improve patient safety, medication adherence, and workflow efficiency. Automatic pill dispensers in pharmacies provide convenience and accuracy, propelling the market forward. Germany leads the region due to the government's favourable reimbursement policy and significant investments in R&D.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global automatic pill dispenser market are ScriptPro LLC, Baxter International Inc., Becton, Dickinson and Company, McKesson Company, Capsa Healthcare, Swisslog Holdings AG, Cerner Corporation, Yuyama Co.Ltd. Talyst Inc., Omnicell Inc and Others.
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Recent Developments
- In July 2022, Caremeds was purchased by Equasens Group. Equasens Group gained a manual dispensing solution as a result of this acquisition.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global automatic pill dispenser market based on the below-mentioned segments:
Automatic Pill Dispenser Market, Type Analysis
- Decentralized Automated Dispensing Systems
- Centralized Automated Dispensing Systems
Automatic Pill Dispenser Market, Indication Analysis
- Physical Disability
- Neurodegenerative Disorders
- Dementia
- Others
Automatic Pill Dispenser Market, Application Analysis
- Pharmacy
- Retail Pharmacies
- Hospital
Automatic Pill Dispenser Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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