Automatic Pill Dispenser Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Automatic Pill Dispenser Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The automatic pill dispenser market studied is expected to register a CAGR of 8.12%, over the forecast period (2022-2027).

COVID-19 has led to the global crisis, with its sudden outbreak, which leads to unprecedented effects on the economy. COVID-19 impacted various industrial sectors and so has also affected the healthcare system. A tremendous change in the working procedures in the healthcare system was observed. The healthcare industry is one of the high-contact industries for the spreading of infections and the government had issued strict guidelines to be followed to safeguard patients, doctors, pharmacists, and other healthcare workers from the deadly virus and avoid its spread. However, given the mounting burden on healthcare facilities, the alarmingly rising prevalence of infection has a significant impact on the use of automated pill dispensers. The demand for the product has been boosted by the rising need for less human interaction. The increased workload in hospitals, the increased responsibility for patient satisfaction, and the effective dispensing time for single medications have a positive impact on the growth of the global automatic pill dispenser market in the forthcoming years.

The studied market growth is predominantly contributed by the factors such as the growing burden of diseases and the increasing elderly population across the globe. Due to the changing lifestyle pattern, diseases are increasing largely among the population. For instance, in 2021 World Health Organization (WHO), Global Health Estimates 2021, reported the top ten global causes of Disability-Adjusted Life Years (DALYs) were neonatal conditions, Ischaemic heart disease, Stroke, Lower respiratory infections, Diarrhoeal diseases, Road injury, Chronic obstructive pulmonary disease, Diabetes mellitus, Tuberculosis, and Congenital anomalies. Also, there is seen the greatest increase in death in female around threefold due to dementia and Alzheimer’s over the past two decades, with around 80% more deaths and 70% more DALYs in female than male due to these neurological diseases. With the increasing cases of Alzheimer's and dementia, there are increased chances of missing doses of medication or wrong administration of it, hence increasing the need for an automatic pill dispenser. For another instance, in 2022 Alzheimer's Association reported that more than 6 million Americans are living with Alzheimer's and this number is expected to increase by 13 million by 2050. Alzheimer's is a chronic disorder associated with depression, memory loss, and other physiological issues in the geriatric population, thereby increasing the patient's visits to hospitals thus, concerning the above-mentioned facts, the automatic pill dispenser market is expected to show lucrative growth over the forecast period.

The elderly population is increasing across the world and is largely affected by some kind of chronic disease. With increasing age, forgetfulness becomes very common in geriatric people, so it becomes a challenge to keep on track with the medications. Moreover, the United Nations, Department of Economic and Social Affairs (UNDESA), World Population Ageing Highlights, 2020 stated that in 2020 there were 728 million people in the world aged 65 or over and which is projected to be 1.5 billion by 2050. Thus, the increasing aging is leading to increased burden of chronic diseases all over the globe and the need for care drives the automatic pill dispenser market.

Moreover, the other factors associated with the growth of the automatic pill dispenser market like technological adoptions in healthcare also participate in the growth. However, the cost associated with automatic pill dispensers may hamper the growth of the market.

Key Market TrendsDecentralized Automatic Pill Dispenser Segment is Expected to Hold Significant Market Share Over the Forecast Period.

The automatic pill dispenser cabinets are used in hospitals and hospital-pharmacy to optimize medication management with patient care, and pharmacy performance to provide improved and focused care. These cabinets manage the user’s access to the medication and also stored information according to the individual’s permission and track the transaction made. Also, the cabinets occupy smaller floor space, thus making larger space available in hospitals for other purposes.

The decentralized automatic pill dispenser can be used in hospitals and pharmacies to reduce the time in dispensing or inpatient care or home care centers for unit-dose dispensing. According to the Automated Pill Dispenser Article, Theseniorlist, July 2021, about 7000 to 9000 people die every year in the United States due to medication errors, including wrong medication, improper dosage, and missing the round of it. In August 2020, Capsa Healthcare announced the acquisition of RoboPharma, a pharmacy automation leader based in the Netherlands to expand its reach in the European and Asian markets.

Recent mergers, acquisitions, and partnerships are again driving the market segment. For instance, in December 2021, PharmAdva, the manufacturer of comprehensive medication management and real-time data solution called the MedaCube, announced a collaboration with Mayo Clinic which has enhanced their advanced care at home program that offers hospital-level care at home. The MedaCube is a fully automated, bulk-loaded, personal pill dispenser that safely stores, tracks, and dispenses, scheduled, or as-needed medications, to patients.

Thus, with the rise in patient awareness of health conditions and the adoption of technologically intelligent solutions for improved patient care, the decentralized automatic pill dispenser is expected to show significant growth over the forecast period.

North America Holds Major Share in Market and Expected to Grow in the Forecast Period.

The North American region dominates the automatic pill dispenser market and is expected to hold the major share in the forecast period. With the wide acceptance of technologically advanced solutions to make patient care hassle-free, a large pool of customers, and a rapidly growing geriatric population, the North American market is dominated by various regional and global players.

Technological advances in the region due to the key market players are another reason for driving this market segment. For instance, in December 2021, Hero and AdhereHealth entered a strategic partnership. Hero's platform includes a connected smart pill dispenser, which automatically sorts and dispenses medications according to a patient's unique medication schedule. This partnership has led to simultaneously improving patient safety by focusing on medication management, further supporting caregivers, and helping people take more control of their health. For another instance, in 2020 Capsa Healthcare announced a significant development in its NexsysADC product line, the addition of new auxiliary cabinets of up to 10 tiers that will help to expand storage and supplies of medication doses significantly.

The increasing incidence of the geriatric population in the region is also contributing to the growth of the market in the region. For instance, in 2022 United States Census Bureau reported that the number of Americans aged 65 and older will more than double over the next 40 years, reaching 80 million in 2040. Thus, the growing geriatric population is associated with a high prevalence of chronic diseases, thereby increasing the number of patients being admitted to hospitals, and rising pressure on the traditional pharmaceutical system, thereby augmenting the industry value in the country.

Thus, the increasing pool of patients and prevalence of chronic and infectious diseases in North America, makes it a preferable market for industry players and is expected to drive the market over the forecast period.

Competitive Landscape

The Automatic Pill Dispenser Market is a moderately competitive market with several players across the globe. In terms of market share, major players currently dominate the market. With the increasing burden of chronic and lifestyle diseases, growth in the elderly population, and rising government initiatives, many new players are expected to be part of the automatic pill dispenser market over the forecast period. Some of the major players in the market are Becton Dickinson and Company, Capsa Healthcare, Cerner Corporation, Mckesson Corporation, Omnicell, ScriptPro LLC, Swisslog Healthcare, Talyst LLC, Yuyama Co Ltd, Koninklijke Philips N.V., Hero Health, Inc, Pharmacell Medications Systems Ltd, Medminder Systems, Inc.

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