Automatic Pill Dispenser Machine Market

Rise in Geriatric Population to Drive Market Growth for Automatic Pill Dispenser

With increasing elderly population, and the corresponding old age ailments, the populace of care and treatment is growing, necessitating automatic pill dispenser. For instance, according to United Nations World Population Prospects data for 2019, the number of persons over the age of 65 rises from 9% in 2019 to more than 16% of the total global population by 2050. The number of persons aged 80 and over is predicted to double by 2050, rising from 143 million in 2019 to 426 million. Expansion of the patient pool results in increased demand for the industry, propelling worldwide automatic pill dispenser machine market expansion over the projection period. Therefore, the automatic pill dispenser sector is going to present considerable market opportunity throughout the forecast period. Rise in chronic and infectious illness occurrences, as well as continuous efforts to improve the efficacy of automatic pill dispenser machines remain the major factors driving the growth of the automatic pill dispenser machine market ahead.

The prevalence of chronic diseases such as blood pressure, diabetes, and arthritis in aging is at its peak. According to the Centers for Disease Control and Prevention, around 85 percent of older persons have at least one chronic health condition, and 60 percent have at least two chronic health issues. This coupled with the mental state of the elderly population is likely is propel the growth of the automatic pill dispenser machine market in the coming years.

Growing Hospitalisations of Chronic Patients to Enhance Market Growth

The hospital pharmacy accounts for a sizable portion of the automatic pill dispenser machine industry. This is due to increasing rate of doctor consultations, and hospitalisations. Chronic diseases are giving a strong push to automatic pill dispenser machine market. Increase in the number of prescriptions, and lack of skilled pharmacists can lead to a high rate of error in drug dispensing, the two major reasons prompting automatic pill dispenser device usage during the projected period. The computerised automatic pill dispenser used in hospitals is an advanced system for full drug dispensing process management that eliminates human mistakes, subtracts the drug from the central inventory in real-time, and updates clinical case records.

North America Acquired Major Market Share on Account of Growing Geriatric Population

North America currently holds the greatest market share in the automatic pill dispenser industry, and it is expected to continue to do so during the projected period due to the widespread implementation of modern technologies in the healthcare sector to make patients' lives easier. A big pool of customers, as well as the rapid growth of the geriatric population, are also propelling the market in this region. Additionally, there is an increase in expenditure to modernise healthcare systems, as well as an increase in demand for technologically advanced instruments for the speedy and precise dispensing of medicines. Whereas significant growth prospects in emerging nations are expected to support the automatic pill dispenser machine market growth.

With the advanced healthcare facilities in the regions, the United States and Canada considerably contribute to industry growth. According to Statistics Canada's Canadian Health Survey on Seniors 2020 report, adults over the age of 65 in Canada were impacted by arthritis 47 percent of the time, blood pressure 44 percent of the time, and back problems 24 percent of the time in 2019. This means that the senior population in Canada is taking many medications and requires specialised care. This factor is likely to boost the automatic pill dispenser machine market in the region.

Automatic pill dispenser machine market in Asia Pacific is predicted to grow at the fastest rate. The main reason for this is the expanding population and disease cases in nations such as India. According to the first Longitudinal Ageing Study in India (LASI) released by the Union Ministry of Family and Health Welfare 75 million Indians above 60 suffer from chronic disease, while 27 percent of the aging population suffers from multiple co-morbidity, 40 percent have some sort of disability and 20 percent have some mental disorder. With such a large pool of patients in the region, the market is likely to spur its growth in the region. Moreover, government measures, as well as improved awareness, have enhanced the appeal of these machines. The growing desire for automatic pill dispensers among the geriatric population due to their high patient convenience is likely to boost market expansion in the APAC region.

Automatic Pill Dispenser Machine Market: Competitive Landscape

In July 2020, MedMinder, an innovative pharmacy, announced the launch of the first automatic pill dispenser with telemedicine capabilities aimed at the elderly and chronically ill. The announcement came at a time when people were increasingly relying on remote medical solutions to meet their medical demands while retaining their independence. In November 2020, BD (Becton, Dickinson, and Firm) (NYSE: BDX), a leading worldwide medical technology company, announced the acquisition of CUBEX LLC's Medical Business assets, a privately held company that creates cloud-based software services for improved medication management. This acquisition has broadened the company's drug management capabilities in the care continuum and enhances integration with electronic health records (EHRs).

A few of the major players in automatic pill dispenser machine market include ARxIUM Inc., Becton & Dickinson, and Company, Accu-Chart Plus Healthcare Systems Inc., Capsa Healthcare, Cerner Corporation, Hero Health, Inc, and InstyMeds Corporation.

Global Automatic Pill Dispenser Machine Market is Segmented as Below:

By Product

• Centralized Automatic Dispenser
• Decentralized Automatic Dispenser

By End-Use

• Hospitals
• Pharmacies
• Senior Care
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Russia
  • Rest of Europe
• Asia Pacific
  • Japan
  • South Korea
  • India
  • China
  • Rest of Asia-Pacific
• LAMEA
  • Latin America
  • Middle East
  • Africa

Key Elements Included In The Study: Global Automatic Pill Dispenser Machine Market

• Automatic Pill Dispenser Machine Market by Product/Technology/Grade, Application/End-user, and Region
• Executive Summary (Opportunity Analysis and Key Trends)
• Historical Market Size and Estimates, Value, 2018 - 2021
• Market Value at Regional and Country Level, 2022 - 2029
• Market Dynamics and Economic Overview
• Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
• Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
• Regional and Product/Grade/Application/End-user Price Trends Analysis
• Value Chain and Five Force’s Analysis
• Regional/Sub-region/Country Market Size and Trend Analysis
• Company Market Share Analysis and Key Player Profiles

Post Sale Support, Research Updates & Offerings

We value the trust shown by our customers in Fairfield Market Research. We support our clients through our post sale support, research updates and offerings.

• The report will be prepared in a PPT format and will be delivered in a PDF format.

• Additionally, Market Estimation and Forecast numbers will be shared in Excel Workbook.

• If a report being sold was published over a year ago, we will offer a complimentary copy of the updated research report along with Market Estimation and Forecast numbers within 2-3 weeks’ time of the sale.

• If we update this research study within the next 2 quarters, post purchase of the report, we will offer a Complimentary copy of the updated Market Estimation and Forecast numbers in Excel Workbook.

• If there is a geopolitical conflict, pandemic, recession, and the like which can impact global economic scenario and business activity, which might entirely alter the market dynamics or future projections in the industry, we will create a Research Update upon your request at a nominal charge.

Disclaimer:

• The segmentation/company profiles/countries depicted above may vary in the actual report.