NEW
YORK, May 16, 2024 /PRNewswire/ -- The
global automatic pill dispensing systems
market size is estimated to grow by USD 1.82 bn from 2023-2027, according to
Technavio. The market is estimated to grow at a CAGR of
8.72% during the forecast period.
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historic data (2017 - 2021) - Download
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Forecast
period
|
2023-2027
|
Base Year
|
2022
|
Historic
Data
|
2017 - 2021
|
Segment
Covered
|
Type (Standalone pill
dispenser and Portable pill dispenser), Application (Hospital
pharmacies, Retail pharmacies, and Home healthcare), and Geography
(North America, Europe, APAC, Middle East and Africa, and South
America)
|
Region
Covered
|
North America, Europe,
APAC, Middle East and Africa, and South America
|
Key companies
profiled
|
Accu Chart Plus Health
Care Systems, ARxIUM Inc., Becton Dickinson and Co., Capsa
Healthcare LLC, Hero Health Inc., Innovation Associates, JVM Co
Ltd., Koninklijke Philips N.V., McKesson Corp., Medminder Systems
Inc., MedReady Inc, MIDEA Group Co. Ltd., NewIcon Oy, Omnicell
Inc., Oracle Corp., PharmAdva LLC, PharmRight Corp., PHARMRX PTY
LTD, ScriptPro LLC, and YUYAMA Co. Ltd.
|
Key Market Trends Fueling Growth
In the healthcare sector, automatic pill dispensing systems are
gaining popularity due to their ability to enhance medication
management and reduce errors. These systems, integrated with
nursing wards and units, contribute to improved patient safety,
particularly for chronic conditions like diabetes and hypertension.
By automating medication intake, healthcare systems can minimize
errors, ensure timely drug regimens, and optimize performance.
Smart devices and AI algorithms enable remote monitoring
capabilities, extending the benefits of automation to home
healthcare and telemedicine platforms. Additionally, automatic pill
dispensers help mitigate medicine shortages, reduce waste, and
cater to the needs of an aging population. These technological
advancements significantly impact hospital pharmacies, retail
pharmacies, and home healthcare services, ultimately improving
patient care.
Market Challenges
- Automatic pill dispensing systems are essential tools in
various healthcare settings, including nursing wards and units, for
managing medication intake, particularly for chronic and infectious
diseases among the geriatric population and those with conditions
like diabetes, hypertension, and ischaemic heart disease. These
systems offer technical improvements through smart devices, AI
algorithms, and remote monitoring capabilities, enhancing patient
safety and reducing medication errors. However, their cost remains
a significant challenge. Some vendors sell outright, with prices
ranging from USD500 to USD1,000, while others offer lower upfront costs,
around USD300 to USD500, with additional monthly service fees of
USD15 to USD25. This pricing model addresses potential
system failures and ensures continuous performance in hospital
pharmacies, retail pharmacies, home healthcare, and clinics.
Research report provides comprehensive data on
impact of trend, driver and challenges - Buy
Report
Segment Overview
This automatic pill dispensing systems market report extensively
covers market segmentation by
- Type
- 1.1 Standalone pill dispenser
- 1.2 Portable pill dispenser
- Application
- 2.1 Hospital pharmacies
- 2.2 Retail pharmacies
- 2.3 Home healthcare
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Standalone pill dispenser- The Automatic
Pill Dispensing Systems market is segmented by type, with nursing
wards and nursing units accounting for the largest share in 2022.
These systems are essential in healthcare settings, particularly in
managing medication intake for chronic and infectious diseases such
as diabetes, hypertension, and drug regimens. Healthcare systems
continue to invest in technical improvements, integrating smart
devices, AI algorithms, and remote monitoring capabilities to
enhance patient safety and reduce medication errors. Telemedicine
platforms and home automation systems are also gaining popularity,
enabling remote monitoring and medication intake for geriatric
populations and those with neonatal conditions or ischaemic heart
disease. The market is further segmented into hospital pharmacy,
retail pharmacy, and home healthcare, with hospitals, clinics, and
pharmacies being key consumers. Medication shortages and waste
reduction are also significant factors driving market growth. The
aging population and the increasing prevalence of chronic and
infectious diseases further underscore the importance of automatic
pill dispensers in healthcare industries. Key applications include
managing medication intake for patients with diabetes mellitus,
tuberculosis, congenital anomalies, and road injury. Overall, the
market is poised for growth due to technological developments and
the increasing demand for patient-centered care.
For more information on market segmentation with
geographical analysis including forecast (2023-2027) and historic
data (2017 - 2021) - Download a Sample Report
Research Analysis
The Automatic Pill Dispensing Systems market is experiencing
significant growth in the healthcare industries due to the
increasing prevalence of chronic and infectious diseases among the
geriatric population. These systems offer technological
developments such as AI algorithms, remote monitoring capabilities,
and integration with telemedicine platforms and home automation
systems. They are particularly beneficial for managing complex
medication regimens for conditions like ischaemic heart disease,
stroke, neonatal conditions, lower respiratory infections, and
diarrhoeal diseases. The integration of smart devices and automatic
pill dispensers into healthcare systems has led to technical
improvements, enhancing patient safety and adherence to medication
intake. Road injury victims also benefit from these systems in
managing their post-hospital care medication schedules.
Market Research Overview
The Automatic Pill Dispensing Systems market represents a
significant growth potential in the healthcare sector. These
systems utilize advanced technology to manage medication dosages
for patients, ensuring accuracy and reducing the risk of human
error. The market encompasses various types of systems, including
those that are home-based and institutional. The integration of
telemedicine and IoT technologies in automatic pill dispensing
systems is a key trend, enabling remote monitoring and real-time
medication management. The market is driven by factors such as an
aging population, increasing chronic diseases, and the need for
improved patient care and medication adherence. Additionally,
regulatory initiatives and government support for digital health
solutions are expected to fuel market growth.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Standalone Pill Dispenser
- Portable Pill Dispenser
- Application
-
- Hospital Pharmacies
- Retail Pharmacies
- Home Healthcare
- Geography
-
- North America
- Europe
- APAC
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio