Automatic Pill Dispenser Market worth over $4bn by 2027

Automatic Pill Dispenser Market size is set to surpass USD 4 billion by 2027, according to a new research report by Global Market Insights Inc.
 

Growing elderly population is expected to positively impact the market, since the number of dependent older people demanding quality care is rising. The geriatric population base is prone to chronic diseases due to declining protective immunity combined with the increased risk of getting sick. This is predicted to stimulate the market attributed to the surging demand for quality care among people with chronic illnesses. The automatic pill dispenser assists old patients by delivering precise dosing at the right time and through sensor alerts for possible tampering or incorrect dosing/spillage.
 

Advantages offered by automatic pill dispensers to accelerate the market growth

Several advantages delivered by automatic pill dispenser systems have largely encouraged the demand and adoption rate. These systems are widely preferred in elderly care owing to streamline process while enabling the patient to stay independent, decreases the need for in-home care, offers user-friendly service, etc. Many elderly people take their medicines incorrectly and this attributes to the increasing number of hospitalizations. Hence, an automatic pill dispenser is highly used in senior and home care to prevent mismanagement of drugs, organize pills in advance, and dispense it at the prescribed times. Some automatic pill dispensers are portable and need only batteries to function well that makes them more convenient and travel-friendly. Due to several benefits provided by these automatic pill dispensers, patients with Alzheimer, severe dementia, and diabetes among others can live an independent life and prevent any overdose or underdose of drugs.
 

Increasing preference for the decentralized automatic dispenser in medication management will fuel the market expansion

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The decentralized automatic dispenser segment is poised to witness 9.6% growth rate through 2027 led by the decentralized automatic dispenser allows caregivers to withdraw medication once it has been prescribed and validated by the clinical pharmacist. The ward-based decentralized automatic dispenser is locking cabinets that regulate access to medicine. This provides enhanced safety and aid to guard against selecting the incorrect medicine. Pharmacy based automated dispensing systems offer professional and timely handling of drugs that is a prerequisite for ensuring the health and safety of patients. By integrating patient-specific dosage and data processing, this system can create a holistic approach to streamline both qualitative and quantitative processes. Additionally, multiple levels of security, robust reporting capabilities, and a real-time location system (RTLS) reduce medication errors and control costs.
 

Browse key industry insights spread across 150 pages with 226 market data tables & 13 figures charts from the report, “Automatic Pill Dispenser Market Size By Product (Centralized Automatic Dispenser {Carousels, Robotic}, Decentralized Automatic Dispenser {Ward Based Automated Dispensing System, Pharmacy Based Automated Dispensing System, Automatic Unit Dose Dispensing System}), By End-use (Hospitals, Pharmacies, Senior Care), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automatic-pill-dispenser-market
 

High acceptance of automatic medication dispenser machines in pharmacies to drive the market progression

The pharmacies segment was valued at more than USD 372 million in 2020 impelled by the several benefits of automatic drug dispenser in pharmacies such as reduce manpower, automatically print & apply prescription labels, avoid pickup errors, prevent cross contamination & infection, etc. By using an automatic pill dispenser, pharmacy workers manage the dispensing process from prescription entry to verification of the finished product. The integration of the robotic system can scale pharmacy operations by sorting prescription orders through barcode scans, offering status updates back to originating pharmacy for tracking, and combining many prescriptions into a single order before release. In pharmacies, the advanced design of pill dispenser system ensures that all prescription orders in leaving their facility are 100% accurate, reduces the cost per prescription, maximizes packing density, and dispenses any shape unit of use product.
 

Rising disease burden in Germany will foster the market revenue

Germany automatic pill dispenser market is slated to reach around USD 418 million by 2027 on account of the increasing burden of diseases, rise in the geriatric population, and frequent introduction of novel products in the market.  As per the Alzheimer Association, in Germany, advancing age is the highest risk factor for developing Alzheimer’s disease that affected over 1.5 million people in 2020. As per the National Center for Biotechnology Information research article, in 2016, the prevalence of chronic diseases was high in the German aging population with 25% of patients displayed at least 4 chronic diseases. This increasing disease burden shows the augmenting requirement for monitoring and medication dispensing solutions for aged patients in hospitals, senior care, home care, and rehabilitation centers are further estimated to upsurge the industry growth. Moreover, automatic drug dispenser aid seniors to remain at home and manage their health effectively.
 

Players are emphasizing on strategic initiatives and innovative product launch to expand business operations

Some of the major companies operating in the market are Accu-Chart Plus Healthcare Systems, Inc., ARxIUM Inc., Becton, Dickinson, and Company, Capsa Healthcare, Cerner Corporation, Hero Health, Inc, and InstyMeds Corporation. Industry leaders are implementing several strategic formulations such as product commercialization, collaborations, partnerships and geographical expansions to channelize revenue growth.