USD 2.46 billion
Automatic Pill Dispenser Market Size, Share, Growth Analysis, By Type(Centralized Automated Dispensing Systems, Decentralized Automated Dispensing Systems, Others), By Application(Hospital pharmacy, Retail Pharmacies, Home Healthcare, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2637 |
Region:
Global |
Published Date: April, 2024
Pages:
242
|Tables:
64
|Figures:
75
Automatic Pill Dispenser Market Insights
Automatic Pill Dispenser Market size was valued at USD 2.46 billion in 2019 and is poised to grow from USD 2.66 billion in 2023 to USD 5.4 billion by 2031, growing at a CAGR of 8.2% in the forecast period (2024-2031).
The prevalence of chronic diseases has also influenced automatic pill dispenser market trends. The use of automatic pill dispensers will increase as healthcare technology advances. Aside from that, the global disease burden is increasing, as is the global population. As the number of cases of Alzheimer's and dementia rises, so do the chances of missing a dose. As a result, the demand for an automatic pill dispenser is increasing. As a result of the advanced high-tech solution in the healthcare sector assisting people with medication management, the adoption of this technology is increasing.
For doctors, nurses, pharmacists, patients, and caregivers, automatic pill dispensers are widely used in medicine management, medication counting, and inventory control. Automatic pill dispensers are also used in the medical field to help patients, chronically ill patients, and elderly patients take their prescription medication or daily supplements on a set schedule. The automatic pill dispenser is affordable and produces accurate results. It is commonly used in the pharmacy to increase productivity. Furthermore, patients with a complicated prescription routine and memory loss issues can greatly benefit from the assistance of an Automatic Pill Dispenser. Because of the increasing number of complications in medication regimens, the automatic pill dispenser market is expected to grow.
US Automatic Pill Dispenser Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Decentralized Automated Dispensing Systems
Fastest Growth
Centralized Automated Dispensing Systems
Growth Rate
8.2% CAGR
Global Automatic Pill Dispenser Market, 2021-2028($ Bn)
Country Share for North America Region- 2021 (%)
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Automatic Pill Dispenser Market Segmental Analysis
The global automatic pill dispenser market is segmented based on the type, application, and region. Based on the type, it is segmented into centralized automated dispensing systems, decentralized automated dispensing systems and others. Based on application, it is segmented into hospital pharmacy, retail pharmacies, home healthcare, and others. Based on region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Automatic Pill Dispenser Market Analysis by Type
The global automatic pill dispenser market is segmented based on type into centralized automated dispensing systems, decentralized automated dispensing systems and others. The centralised automatic pill dispenser market is expected to grow at a 9.4% CAGR through 2028, owing to several benefits such as improved staff productivity and reduced medication errors, among others. The dispensing method is controlled directly by the user in centralised automatic systems. A robotic centralised automatic dispenser organises a large number of drugs without the need for human intervention, improves pharmaceutical operations, and provides security, significantly reducing the likelihood of error or medicine theft. Furthermore, when compared to manual operations, these systems can fill over 1,000 prescriptions per hour, significantly reducing patient waiting time and leading to higher patient satisfaction. This can significantly reduce cross contamination and infection caused by improperly handled prescription drugs or germ exposure. As a result, the centralised automatic dispenser's capabilities, as well as constant innovation and development in this device, are expected to significantly fuel the automatic pill dispenser market growth during the forecast period.
Global Automatic Pill Dispenser Market By Type, 2021(%)
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Automatic Pill Dispenser Market Regional Insights
The global automatic pill dispenser market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America region is expected to account for the largest market. It is expected to continue to dominate the market in the forecast period due to the widespread adoption of advanced technology in the healthcare sector to make patients' lives easier. A large pool of customers, as well as the rapid growth of the geriatric population, are also boosting the market in this region. Due to population growth and increased healthcare facilities from government and private organisations, the European market has the second-highest automatic pill dispenser market share. Asia-Pacific is expected to have the highest CAGR rate due to rapid population growth and increasing disease cases, growing awareness, and government initiatives.
Global Automatic Pill Dispenser Market By Geography, 2021 - 2028
- Largest
- Fastest
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Automatic Pill Dispenser Market Dynamics
Automatic Pill Dispenser Market Driver
Recent Technological Advancements Are Expected to Drive the Automatic Pill Dispenser Market
- Recent technological advances in automatic pill dispensers are expected to drive the market in the near future. The introduction of automatic pill dispensers integrated with barcode scanning allows for precise medication dispensing while also preventing the loading of incorrect medication and providing additional safety precautions for high-risk drugs. The bluetooth connectivity enables users to connect these devices to any compatible device, including phones, to receive visual and audio notifications, thereby positively propelling industry expansion. These devices now come with a digital detachable timer, which is ideal for people with memory or cognitive disabilities who require frequent reminders to take medications. As a result, the industry demand is increasing significantly as a result of the introduction of novel devices that allow users to set the timings to dispense multiple medications at required timings.
Automatic Pill Dispenser Market Restraints
- The automatic pill dispenser is controlled by software, and even minor errors in the software can endanger the patients. Aside from that, the automatic pill dispenser Market may face significant challenges in a busy hospital environment.
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Automatic Pill Dispenser Market Competitive Landscape
Accu-Chart Plus Healthcare Systems, Inc., ARxIUM Inc., Becton, Dickinson, and Company, Capsa Healthcare, Cerner Corporation, Hero Health, Inc., and InstyMeds Corporation are some of the major companies operating in the automatic pill dispenser market. For business expansion, these industry leaders are implementing strategic formulations such as new product development and commercialization, commercial expansion, and distribution agreements. Furthermore, these participants are heavily investing in product development, which is driving revenue generation. Recent mergers, acquisitions, and partnerships are propelling the market segment once more. For example, in December 2021, PharmAdva, the manufacturer of the MedaCube, a comprehensive medication management and real-time data solution, announced a collaboration with Mayo Clinic that has enhanced their advanced care at home programme, which provides hospital-level care at home. The MedaCube is a fully automated, bulk-loaded personal pill dispenser that safely stores, tracks, and dispenses medications to patients on a scheduled or as-needed basis.
Automatic Pill Dispenser Market Top Company Profiles
- BD (Becton, Dickinson and Company)
- Capsa Healthcare
- Coloplast A/S
- Cerner Corporation
- Omillionicell, Inc.
- ScriptPro LLC
- Innovation Associates, Inc.
- KUKA AG
- McKesson Corporation
- Yuyama Co. Limited
- Pearson Medical Technologies, LLC
- Parata Systems LLC
- GlobalMed Inc.
- Kirby Lester LLC
- Swisslog Holding AG
- Willach Group
- Medissimo SA
- TCGRx
- Talyst, Inc.
- AmerisourceBergen Corporation
Automatic Pill Dispenser Market Recent Developments
- In July 2022, Caremeds was purchased by Equasens Group. Equasens Group gained a manual dispensing solution with this acquisition; it is a comprehensive and innovative patent-protected pill dispenser. In terms of design and capacity, the addition of AUTOMEDS semi-automatic dispensing systems is appropriate for the global market.
- In February 2022, Dignio AS and Care Homes have announced the integration of AceAge Inc. Karie, a smart pill dispenser, has been integrated into Dignio Connected Care. This solution has been integrated with various measuring devices as well as the medication dispenser. The company has provided a secure and safe medication delivery system that is seamlessly integrated to ensure the patient's independence with this dispenser.
Automatic Pill Dispenser Key Market Trends
- Governments all over the world are taking steps to ensure that the healthcare sector runs smoothly. The automatic pill dispenser industry will benefit from rising government initiatives and regulatory approval. Aside from that, the introduction of new devices and technological advancement, as well as increased investments in homecare cents, will create opportunities for the automatic pill dispenser Industry in the coming years. The automatic pill dispenser industry will benefit from the adoption of modern technology and increased awareness of healthcare products.
Automatic Pill Dispenser Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global automatic pill dispenser market analysis, the automatic pill dispenser market is a moderately competitive market with a number of global players. Major players currently dominate the market in terms of market share. With the rising prevalence of chronic and lifestyle diseases, an ageing population, and increased government initiatives, many new players are expected to enter the automatic pill dispenser market during the forecast period. The increasing prevalence of the geriatric population in the region is also contributing to the region's market growth. For example, the United States Census Bureau reported in 2022 that the number of Americans 65 and older will more than double over the next 40 years, reaching 80 million by 2040. As a result, the growing geriatric population is associated with a high prevalence of chronic diseases, increasing the number of patients admitted to hospitals and increasing pressure on the traditional pharmaceutical system, thereby increasing the country's industry value.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.46 billion |
| Market size value in 2031 | USD 5.4 billion |
| Growth Rate | 8.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automatic Pill Dispenser Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automatic Pill Dispenser Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automatic Pill Dispenser Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automatic Pill Dispenser Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automatic Pill Dispenser Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automatic Pill Dispenser Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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