Automatic Pill Dispenser Machine Market Expected to Reach $5.4 Billion by 2030

According to a new report published by Allied Market Research, titled, “Automatic Pill Dispenser Machine Market," The automatic pill dispenser machine market was valued at $2.5 billion in 2020, and is estimated to reach $5.4 billion by 2030, growing at a CAGR of 8.2% from 2021 to 2030.

Automatic pill dispenser machines are designed to ease the work load of pharmacist, doctor, nurse, patients, and caretakers by enabling medication counting, medicine management, dispensing, and inventory control. These devices minimize prescription errors that leads to fatal injury or death and ensure patient safety. Automatic pill dispenser machines are designed to dispense different pills independently according to user defined dose and time specifications. The automatic pill dispenser machine dispenses correct medication and dose for the patients with complex medication regime and with memory loss disorders.

Automatic pill dispenser machines are devices designed to help individuals manage their medication regimens more effectively. These machines are especially useful for people who take multiple medications at different times throughout the day. They can be used by individuals living at home, as well as in healthcare facilities such as hospitals and nursing homes.The benefits of automatic pill dispenser machines include improved medication adherence, reduced risk of medication errors, increased independence for users, and peace of mind for caregivers. These devices can be particularly helpful for older adults, individuals with memory issues, and those with complex medication regimens. It's worth noting that the specific features and capabilities of automatic pill dispenser machines can vary widely depending on the manufacturer and model. Before purchasing or using such a device, it's essential to consider the user's specific needs and consult with a healthcare professional or pharmacist. Additionally, it's important to regularly check and refill the machine to ensure a continuous supply of medications.

Increase in healthcare awareness; rapid growth of infections & chronic diseases such as diabetes, asthma, and blood pressure; and rise in the geriatric population are expected to drive the automatic pill dispenser machine market growth. In addition, factors that drive the automatic pill dispenser machine market growth are increase in need for self-care and home-based treatments, owing to changes in lifestyle and minimizing prescription & dispensing errors. However, stringent government regulations related to the manufacturing & sale of the automatic pill dispenser machine impede the market growth. Increase in disposable income of consumers is expected to provide several growth opportunities for key market players.

On the basis of product type, the automatic pill dispenser machine market size is categorized into Centralized automated dispensing systems and decentralized automated dispensing systems. Automated dispensing system segment is expected to dominate the market throughout the forecast period, owing to various benefits of machines such as point-of-care availability,  capability to control storage & distribution, and maintain record of medicines. Decentralized automated dispensing systems is expected to register a CAGR of 9.9% during the forecast period, owing to precise, accurate, and safe usage for better healthcare results, which correspond to the needs of patients.

Depending on application of pill dispenser industry, hospital pharmacy segment dominated the automatic pill dispenser machine market share in 2020. This segment is expected to exhibit a prominent growth rate automatic pill dispenser machine market trends, owing to the rapid increase in geriatric population and surge in need for  fast and accurate dispensing of medicines in the hospitals and pharmacy.

Region wise, North America accounted for more than 8.0% of the global market share in 2020, and is expected to remain dominant throughout the forecast period. This was attributed to rise in expenditure to upgrade healthcare systems and growth in demand for technologically advanced devices for rapid & accurate distribution of medicines. Asia-Pacific is projected to register the highest CAGR of 9.8% during the forecast period of automatic pill dispenser market, owing to rise in government healthcare expenditure, growth in demand for healthcare devices from patients, and improvement in healthcare infrastructure.

The major companies profiled in pill dispenser industry report include Baxter International Inc., Becton, Dickinson and Company, Cerner Corporation, Capsa Healthcare, McKesson Corporation, Omnicell Inc., ScriptPro LLC, Swisslog Holdings AG, Talyst, Inc., and Yuyama Co., Ltd.

KEY FINDINGS OF THE STUDY

• By product type, the centralized automated dispensing systems segment is expected to experience rapid growth in the market, and is projected to grow at a CAGR of 7.7% from 2021 to 2030
•  Depending on application hospitals pharmacy is projected to grow at a CAGR of 7.9% during the forecast period.
• Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 9.8% during the forecast period.