Life Science Company News
Automatic Pill Dispensing Systems Market size to grow by USD 1.82 billion from 2022 to 2027, Increasing use of automatic pill dispensers at home is a major trend - Technavio
NEW YORK, Nov. 30, 2023 /PRNewswire/ -- The automatic pill dispensing systems market is expected to grow by USD 1.82 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 8.72% during the forecast period. The market is segmented 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). The growing aging population is a key factor driving market growth. Errors can occur when you keep track of complicated dosing schedules 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. As a result, there is a strong demand in the older population for automated pill delivery systems. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a PDF Sample
- The report recognizes the following as some of the key players in the automatic pill dispensing systems market: 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.
- Automatic Pill Dispensing Systems Market is fragmented in nature.
- Market to observe 7.54% YOY growth in 2023.
- Increasing use of automatic pill dispensers at home is a major trend in the market.
- The sale of automated pill dispenser machines for home use has increased with patients preferring shorter or no hospital stays.
- They are designed with user-friendly features and easy interfaces, which may even be used by elderly people, which is an important factor contributing to the growth in demand for pill vending machines at home healthcare.
- Inherent challenges with automation dispensing systems are significant factors restricting market growth.
- One of the main challenges is to be able to access numerous automated dispensing systems that differ in their individual procedures.
- Modern systems may have a complex interface, which could be hard for patients with dementia or who might lack the ability to learn their way around new dispensers.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
- The standalone pill dispenser will account for a major share of the market's growth during the forecast period. Hospitals, pharmacies, doctors' offices, and so on are usually the buyers. Separate dispensing systems for pills are secured and arranged in the inventory. It may help pharmacists and hospital nurses spend more time talking to patients and checking on them when automated pill delivery systems are used. Hospitals and other healthcare facilities have grown strongly in developing countries, like India, because of the high number of patients with untreated needs.
Get a glance at the market contribution of the segments, Request a Sample Report
The automatic data capture (ADC) market size is estimated to grow at a CAGR of 11.75% between 2022 and 2027. The market size is forecast to increase by USD 36,478.13 million.
The Central Fill Pharmacy Automation Market size is estimated to grow by USD 480.41 million between 2022 and 2027 at a CAGR of 12.05%.
Automatic Pill Dispensing Systems Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 8.72%
Market growth 2023-2027
USD 1.82 billion
YoY growth 2022-2023 (%)
North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution
North America at 56%
US, Japan, China, UK, and Germany
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
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.
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.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Application
Market Segmentation by Geography
Drivers, Challenges, & Trends
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/automatic-pill-dispensing-systems-market-size-to-grow-by-usd-1-82-billion-from-2022-to-2027--increasing-use-of-automatic-pill-dispensers-at-home-is-a-major-trend---technavio-302001708.html