Automatic Pill Dispenser Market Size, Share, Trends & Growth Forecast From 2022 to 2027

HYDERABAD, TELANGAANA, INDIA, August 19, 2022 /EINPresswire.com/ -- According to the latest report published by MarketDataForecast, the global market size for automatic pill dispensers is anticipated to grow at a CAGR of 7.5% from 2022 to 2027 and be worth USD 3.09 billion by 2027 from USD 2.15 billion in 2022.

A pill dispenser is an intelligent medicine device that helps patients not forget about their medicine and avoid confusion when taking regular medication. The machine is commonly shaped in a round pattern with multiple compartments to store one or more medicines into the device. The patient has to set each container with the name of the medicine and load it in according to the schedule of the medication. The device will work according to the medicine schedule and notify the owner to remind them when it's time to take medication. Therefore, the automatic pill dispenser gives you your medicine without remembering to take medication physically. In addition, the device keeps track of your medicinal consumption and ensures no errors or overdosage.

What is the impact of COVID-19 on the global automatic pill dispenser market?
Covid 19 has had a wide range of effects in various markets. The epidemic impacted the delivery, production, and supply chains and made it difficult to get goods because of the government-imposed lockdowns and the stringent social distance laws. The healthcare sector was one of the markets that incurred losses due to these restrictions. Because patients were the only thing that mattered, there were few specialists, and no consideration was given to the other areas of healthcare.

The pandemic, however, positively impacted the global automatic pill dispenser market. As covid-19 is a transmittable disease and is heavily contagious, the virus patients were quarantined in separate hospital wards with as little contact as possible with other humans. Even doctors had to wear full covid protective gear around the patients and maintain distance. Therefore, the automatic pill dispenser, which does not require any assistance from doctors to dispense and provide the patients the tablets, became highly needed during the pandemic. This automated system helped doctors monitor the patient's medical intake and ensure treatment without meeting the patient's physician.

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MARKET DYNAMICS:

One of the major factors driving the automatic pill dispenser market is the rising prevalence of diseases like cancer, diabetes, chronic illnesses, and other health issues. These individuals can receive support and precise medication through the automatic pill dispenser system. Along with the growing older population, memory loss is a prominent driver in the Automatic Pill Dispenser industry. During the projection period, the market for automatic pill dispensers will be driven by their widespread application in the healthcare industry.

There will be significant growth due to additional causes such as the expanding population, changing lifestyles, and economic progress in emerging nations. In addition, the market will be driven by developments in healthcare technology and rising public awareness. Due to frequent dosage fluctuations and the requirement for immediate admission, automatic pill dispensers are still a significant advantage in most hospitals' emergency rooms and intensive care units.

Additionally, governments in the region are taking steps to ensure the efficient operation of the healthcare sector. Favorable regulatory approvals present substantial prospects for the industry players by demonstrating investments and funds for infrastructure.

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ANALYSIS OF VARIOUS SEGMENTS INVOLVED IN THIS MARKET:

Based on the application, the hospital pharmacy segment held the largest share in the automatic pill dispenser market in 2021 owing to the credibility of hospitals and the relatively large population who prefer hospitals over everything else. In addition, hospitals are high-budget, high infrastructure settings that can afford the use of expensive automatic pill dispensers; therefore, the segment leads the market. Additionally, the home healthcare segment is expected to grow after the hospital pharmacies segment due to the growing geriatric population who need assistance in remembering and taking medicines at home. Furthermore, the retail pharmacy segment is also expected to grow owing to the rising awareness of the benefits of automatic pill dispenser machines.

Based on type, the centralized automatic pill dispenser segment is expected to account for the largest share during the forecast period because the type is easy to manage and monitor and is available in various places. Whereas the decentralized system is also expected to grow due to building individual hospitals and clinics in new areas, the centralized system is anticipated to dominate the market during the forecast period.

Based on the age group, the 65-74 age group segment is expected to dominate the market. This is because even though the technology id invented for older adults, the very old population of 85+ years can neither comprehend the technology nor can they physically be able to take their pills. Therefore, they require a physician to always assist them, resulting in the technology not being prevalent among the age group. However, the 65-74 age group population uses the technology on a large scale and benefits from its ease of accessibility.

Based on indication, owing to the rise in the cases of accidents worldwide which result in more people with disabilities, the physical disability segment is expected to grow significantly during the forecast period along with the visually impaired component, which is also likely to contribute to the market.

Geographically, the North American region is expected to dominate the market during the forecast period due to the area's rising geriatric population and ordinary people's disposable incomes. In addition, the market is flourishing because the countries like the U.S. and Canada emphasize providing better healthcare services. As a result, the region is expected to have around 50% of the market's overall share. The European and Asia-Pacific markets are right behind the north American region. However, these markets have grown due to the growing populations, diseases, and efforts to improve the quality of healthcare facilities through government initiatives and funding.

KEY MARKET PLAYERS IN THE AUTOMATIC PILL DISPENSER MARKET:
• Swisslog Holdings AG
• Dickinson and Company
• McKesson Corporation
• Baxter International Inc.
• Omnicell Inc.
• Illinois Tool Works
• Allscripts Healthcare Solutions, Inc.
• Capsa Healthcare
• ScriptPro LLC
• Meditech
• Talyst, Inc.
• Accu-Chart Plus Healthcare System
• Optum Inc.
• Pearson Medical Technologies
• Constellation Software Inc.

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Browse Regional Reports:
North America Automatic Pill Dispenser Market
Europe Automatic Pill Dispenser Market
APAC Automatic Pill Dispenser Market

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