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The Automatic Pill Dispensing Systems Market size is estimated to grow at a CAGR of 8.72% between 2022 and 2027. The market size is forecast to increase by USD 1,824.27 million. The growth of the market depends on several factors, such as the growing aging population, the rise in medication errors, and the increase in online retailing.
This report extensively covers market segmentation by 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). It also includes an in-depth analysis of drivers, trends, and challenges.
Automatic Pill Dispensing Systems Market Forecast 2023-2027
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Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
Globally, the aging population is increasing. Keeping track of complicated medication schedules can lead to errors. Such as missing doses, taking incorrect amounts, or taking medicines at the wrong time, leading to hospital visits, the severity of illness, and even death. Consequently, there is a strong demand for automatic pill dispensing systems in the elderly population.
Moreover, automatic pill-filling systems are also suited to the needs of patients with reduced function and allow them to release their measured dose in a small compartment. The equipment is provided with an alarm that alerts the patient of the scheduled time for medication. Thus, the rise in the aging population globally and related health problems necessitate the need for advanced medical technologies such as automatic pill dispensing systems.
With patients preferring shorter or no hospital stays, the sale of automatic pill dispenser machines for home use is increasing. Effective methods of medication management, as well as the improvement in drug compliance, are provided by these automated pill dispensers. The price is also cost-effective.
The major factor contributing to the increasing demand for pill dispensers in the home healthcare segment is that these products are engineered with user-friendly features and simple interfaces that even the elderly can use. The availability of such products online also facilitates their sale. Such factors are expected to drive the growth of the global automatic pill dispensing systems market during the forecast period.
Automatic pill dispensing machines are associated with a few inherent challenges. Access to a wide variety of automatic dispensing systems is one of the main challenges, each having its own specific operating procedures. There could be a complex interface available today for the modern systems, which might make them difficult to use, especially for patients with dementia, who may find it difficult to learn how to use a new dispensing system.
However, since all automatic pill dispensing systems are computer-controlled, they can fail without warning. It may take time and effort to install software updates and secure a machine from the pharmacy's own records management system, which needs to be performed properly in order to avoid future errors. Thus, the inherent challenges in automatic pill dispensing systems might make them less user-friendly, which, in turn, will affect the growth of the global automatic pill dispensing systems market during the forecast period.
The standalone pill dispenser will account for a major share of the market's growth during the forecast period. The buyers are generally hospitals, pharmacies, clinics, and more. An inventory is secure and organized with separate pill dispensing systems. The cabinet deals with every client admittance to store medicines as indicated by individual consents and consequently reports and tracks every exchange.
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The standalone pill dispenser segment was valued at USD 2,369 million in 2017 and continued to grow until 2021. Automatic pill dispensing systems can help pharmacists and hospital nurses spend more time consulting and monitoring patients. Due to the large number of patients with unmet needs, the growth in hospitals and other healthcare facilities has been considerable in emerging countries like India. Thus, owing to the high number of patients going for treatment at hospitals, and clinics, the standalone segment is expected to grow at a rapid rate, fueling the global automatic pill dispensing systems market during the forecast period.
Based on application, the market has been segmented into hospital pharmacies, retail pharmacies, and home healthcare. The hospital pharmacies segment is the leading revenue contributor to the global automatic pill dispensing systems market. The driving factor is the prevalence of chronic diseases globally, which increases the number of patient visits to hospitals. In high-patient volume hospitals, where there are a large number of patients, the need for pharmacy automation has increased to manage medication supply and eliminate handling errors so as to reduce waiting time and improve patient safety. Automatic pill dispensing machines can help pharmacists and nurses in hospitals spend more time counseling and observe patients. The growth in the number of hospitals to meet the demands of the high patient population will require superior pharmacy automation systems such as automatic pill dispensing systems, fueling the global automatic pill dispensing systems market during the forecast period.
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North America is estimated to contribute 56% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. North America was the highest revenue contributor to the global automatic pill dispensing systems market in 2022. The region is led by the US, followed by Canada and Mexico.
Moreover, the high awareness and affordability of the product are factors that contribute to a strong demand in this area for automated pill delivery systems. The US has an improved healthcare infrastructure consisting of a significant number of hospitals and retail pharmacies that increasingly demand automatic pill dispensing systems to reduce medication errors and manage the high number of orders daily. The country also sees an increase in demand from the home healthcare segment. The growing aging population drives the demand for automatic pill dispensers in the region.
In 2020, the COVID-19 pandemic adversely affected the economies of several countries in the region. However, the large vaccination drives conducted by the governments eased the lockdown restrictions in 2021, and manufacturing operations and supply chain activities resumed. The region's investments in healthcare have played an instrumental role in restoring the market. Thus, the regional automatic pill dispensing systems market is anticipated to grow significantly during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Accu Chart Plus Health Care Systems - The company offers an automatic pill dispensing system that has individual drawers and provides remote access through secured internet.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
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.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The automatic pill dispensing systems market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Automatic Pill Dispensing Systems Market Scope |
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Report Coverage |
Details |
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Page number |
163 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.72% |
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Market growth 2023-2027 |
USD 1,824.27 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
7.54 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 56% |
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Key countries |
US, Japan, China, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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