The size of the global automatic pill dispenser market was about USD 2 billion in 2020. It is expected to grow at a CAGR of 7.5% and grow to approximately USD 3.1 billion by 2025.
MARKET DRIVERS:
The primary factors driving the market growth are the rise in the prevalence of diseases such as cancer, Alzheimer's, osteoarthritis, diabetes, and chronic obstructive pulmonary disease. The automatic pill dispenser machines are very accurate in dispensing medicines. The growth in the geriatric population and the rise in cardiovascular diseases and respiratory diseases due to an unhealthy lifestyle have supported the pills industry growth, affecting the automatic pill dispenser market.
The governments have recognized the potential, and the rising regulatory approval is forecasted to support the market growth. Increasing investment in-home care centers is also expected to propel the development of the market. The rising number of product approvals with the launch of new devices, growing awareness regarding the observance of medication, and huge increase in investments in homecare centers are further expanding the growth of the market. Increasing high adoption of technological advancements and rising government initiatives in improving healthcare facilities successfully drive the automatic pill dispenser market globally. Creating awareness over the availability of different devices for home healthcare is likely to propel the growth rate of the market.
MARKET RESTRAINTS:
The automatic pill dispensers are run by software, and any small error in software running can prove to be fatal for the patients. The continuous service of pill dispensers can be a challenge in a busy hospital environment. There are many costs involved in setting up these pill dispensers, and considering the low return on investment has hampered the growth of the global automatic pill dispenser market.
Impact of COVID-19 on the global automatic pill dispenser market:
COVID-19 has positively impacted the market. The patients suffering from the virus are kept in isolation to avoid the virus's risk of being spread among doctors or relatives. The automatic pill dispenser machine helps such patients correct medication correctly and in the right quantity. It helps in decreasing human interaction and thus reduces the risk of virus spread. The health personal is mostly now available to deal with emergencies and treat patients with high risk. Therefore, this machine helps them to monitor the medication of other patients through tracking by software.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 to 2025 |
|
Base Year |
2019 |
|
Forecast Period |
2020 to 2025 |
|
Segments Covered |
By Type, Production Technologies, Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
This research report on the global automatic pill dispenser market has been segmented and sub-segmented into the following categories.
Automatic Pill Dispenser Market – By Application:
Based on the application, the Hospital pharmacy had the largest market share in 2019 due to the rise of diseases and an increase in population; this segment is expected to grow at a reasonable rate. The pill dispensing machines are costly, and hospitals having high-quality healthcare facilities can afford the devices.
The Home Healthcare segment accounted for the second-largest market share and is expected to grow faster, among others. The main reason for this is due to an increase in the old age population. In the aging population, people often have problems memorizing their medication, making an automatic pill dispenser very useful. The rise in disposable incomes has also supported the growth of home healthcare.
The retail pharmacy had the third-largest share and is expected to grow at a significant rate during the forecast period. The rise in awareness is a significant factor contributing to the growth.
Automatic Pill Dispenser Market – By Type:
Based on the type, the centralized system was the market leader in 2019 and is expected to register a significant growth rate in the future. The rising prevalence of diseases and the increasing population will propel the growth of the market.
The decentralized system had the second-highest market share in the last year and is expected to grow at a healthy rate. The increase in hospitals and other healthcare facilities is the primary reason for the growth rate.
Automatic Pill Dispenser Market – By Age:
Based on age, the age group of 65-74 years captures the largest market share. The rise in disposable income and the rising income being spent on healthcare are the major factors driving growth.
The people of the age group 85+ years are mostly unable to function themselves; therefore, they require healthcare personnel assistance to give them medicines. They are mostly unable to understand the technology; thus, the market is significantly less for people with 85+ years.
Automatic Pill Dispenser Market – By Indication:
The increase in population and increasing accidents has increased the number of people with a physical disability and thus contributed significantly to the market. The visually impaired people segment is expected to contribute generously to the growth of this market. Rising awareness and ease of use have driven the development of this market.
Automatic Pill Dispenser Market – By Region:
Geographically, North America dominates the global market with more than 50% market share. The growth rate is expected to be positive during the forecast period. The rise in the geriatric population and rising healthcare facilities have helped this region attain such a high growth rate. The increase in disposable incomes has further fueled the growth.
The European market had the second largest market share. The growth rate is driven by a rise in the old age population and rising healthcare facilities' quality by private means or government means.
Asia Pacific market is expected to register the highest growth rate among all the regions. The main reason for this is the increasing population and increasing cases of diseases in countries like India. Government initiatives, along with growing awareness, have increased the popularity of these machines.
KEY MANUFACTURERS IN THIS MARKET AND SHARE INSIGHTS:
Some of the key competitors dominating the Global Automatic Pill Dispenser Market profiled in this report are Swisslog Holdings AG, Dickinson and Company, McKesson Corporation, Becton, Cerner Corporation, Yuyama Co., Ltd, 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 and Constellation Software Inc.
Significant companies are operating in this market, implementing product unveiling as their crucial growth policy.
In December 2020, Capsa Healthcare announced the launch of NexsysADC Suite. NexsysADC is a practical automated dispensing cabinet for steady and controlled medication storage in many healthcare settings.
In October 2019, Salem Health announced the partnership with Omnicell XT cabinets. The company is to launch a new Autonomous Pharmacy to improve the safety and efficiency of its medication management process.
In March 2019, Swisslog introduced new Insite In-Facility Medication Packaging and Dispensing Service at MHA Business Summit.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Application
5.1.1 Introduction
5.1.2 Home Healthcare
5.1.3 Hospital Pharmacy
5.1.4 Retail Pharmacy
5.1.5 Y-o-Y Growth Analysis, By Application
5.1.6 Market Attractiveness Analysis, By Application
5.1.7 Market Share Analysis, By Application
5.2 Type
5.2.1 Introduction
5.2.2 Carousels
5.2.3 Centralized Automated Dispensing System
5.2.4 Robots/Robotic Automated Dispensing System
5.2.5 Ward-Based
5.2.6 Decentralized Automated Dispensing
5.2.7 Automated Unit Dose
5.2.8 Pharmacy-Based
5.2.9 Y-o-Y Growth Analysis, By Type
5.2.10 Market Attractiveness Analysis, By Type
5.2.11 Market Share Analysis, By Type
5.3 Age
5.3.1 Introduction
5.3.2 38-64 years
5.3.3 65-74 years
5.3.4 75-84 years
5.3.5 85 years and above
5.3.5 Y-o-Y Growth Analysis, By Age
5.3.6 Market Attractiveness Analysis, By Age
5.3.7 Market Share Analysis, By Age
5.4 Indications
5.4.1 Introduction
5.4.2 Visual Impairment
5.4.3 Old Age
5.4.4 Dementia
5.4.5 Learning Dementia
5.4.6 Physical Disability
5.4.7 Mental Health excluding dementia
5.4.8 Parkinson’s disease
5.4.9 Other Diseases
5.4.10 Y-o-Y Growth Analysis, By Indications
5.4.11 Market Attractiveness Analysis, By Indications
5.4.12 Market Share Analysis, By Indications
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Application
6.1.3.3 By Type
6.1.3.4 By Age
6.1.3.5 By Indication
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Application
6.1.4.3 By Type
6.1.4.4 By Age
6.1.4.5 By Indication
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Application
6.1.5.3 By Type
6.1.5.4 By Age
6.1.5.5 By Indication
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Dickinson and Company
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Swisslog Holdings AG
8.3 McKesson Corporation
8.4 Becton
8.5 Cerner Corporation
8.6 Baxter International Inc.
8.7 Meditech
8.8 Pearson Medical Technologies
8.9 Accu-Chart Plus Healthcare System
8.10 Optum Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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