A recent report published by Infinium Global Research on the automatic pill dispenser market provides in-depth analysis of segments and sub-segments in the global as well as regional automatic pill dispenser market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automatic pill dispenser market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global automatic pill dispenser market. According to the report, the global automatic pill dispenser market is projected to grow at a CAGR of 8.8% over the forecast period of 2021-2027, growing from over USD 2 billion in 2020 to more than USD 3.7 billion in 2027.
Many pharmacies are adopting advanced technologies in order to improve productivity and enhance the customer experience. Automated pill dispenser is one of the advanced technologies that is been adopted by pharmacies to improve efficiency. An automated pill dispenser is a computer-controlled medication distribution system that provide storage, dispensing, packaging, labeling, and tracking of medications. The automatic pill dispensers are used by retail pharmacies, clinics, hospitals, point of care settings, and others. The automatic pill dispenser is also integrated with the pharmaceutical information systems to improve the operations of the service providers. The automatic pill dispenser is also used to collect, control and maintain the financial operations and reduce billing paperwork. Moreover, the automatic pill dispensers are less time-consuming, which prevents the conflict between pharmacy and nursing staff, providing improved patient comfort and care.
As the coronavirus pandemic spread across many countries, the global healthcare sector experienced enormous pressure to keep up with the mounting demand. Hospitals in the countries affected by pandemics were overwhelmed by the influx of COVID-19 patients. Hospitals, pharmacies, home care centers, and other healthcare facilities spent a large number of their resources on combating COVID-19. Many hospitals and pharmacies adopted automated dispensing solutions to handle the growing healthcare demands of patients. Automatic pill dispenser distributes accurate dosage of medication to the patients and helps pharmacies to keep track of the patients. Doctors and pharmacists easily access the patients’ medical data and keep track of their medication with the help of automatic pill dispensers. Such advantages of the automatic pill dispensers came in handy during the pandemic as the number of patients increased.
The automatic pill dispensers have various advantages including user-friendly, security, safe medication distribution, less time-consuming, and computer-controlled storage. These advantages of automatic pill dispensers majorly drive the growth of the market. Moreover, the increasing demand for automated and user-friendly pharmacy management systems is expected to augment the growth of the automatic pill dispenser market. Many hospitals and healthcare providers are focusing on the adoption of an effective management system to improve overall efficiency and productivity. The growing adoption of automated systems across hospitals, pharmacies, nursing homes, and others is anticipated to boost the growth of the automatic pill dispenser market. However, the incidences of errors caused by the automated pill dispenser are expected to hamper the market growth. Nevertheless, the technological advancements in the automated systems to achieve higher efficiency reduced medical inventory and improved cash flow are projected to create growth opportunities in the players in the automatic pill dispenser market.
In terms of, North America accounted for the largest market share and is expected to dominate the automatic pill dispenser market throughout the forecast period. Factors such as the high adoption of modern and advanced technologies along with developed healthcare infrastructure are driving the growth of the automatic pill dispenser market in North America. Furthermore, the growing demand for pharmacy automation In the North American region is expected to boost the growth of automatic pill dispensers in this region. On the other hand, Asia-Pacific is anticipated to grow at the fastest rate in the automatic pill dispenser market among the regions owing to the growing investments in the pharmacy industry and the growing geriatric population.
The report on global automatic pill dispenser market covers segments such as type, and end user. On the basis of type, the sub-markets include centralized automatic dispenser, and decentralized automatic dispenser. On the basis of end user, the sub-markets include hospital pharmacies, retail pharmacies, and home care.
The report provides profiles of the companies in the market such as McKesson Corporation, Cerner Corporation, Becton, Dickinson, and Company, Capsa Solutions, LLC, InstyMeds Corporation, Koninklijke Philips NV, ARxIUM Inc., Hero Health, Inc., Talyst, Inc., and Omnicell Inc..
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of automatic pill dispenser market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.