New Study Reports: Automatic Pill Dispenser Machine Market on target to Reach $3,023 Million by 2023
The global automatic pill dispenser machine market was valued at $1,755 million in 2016, and is projected to reach $3,023 million by 2023, growing at a CAGR of 8% from 2017 to 2023. The centralized automated dispensing systems segment held more than four-fifths share of the total market in 2016.
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Rise in incidence and prevalence of diseases drives the market. In addition, growth of geriatric population that is susceptible to taking medications for their wellbeing is expected to fuel the growth of the market during the analysis period. However, high cost of installation of large automatic pill dispenser machines is anticipated to restrict the market growth.
Based on type, the global automatic pill dispenser machine market is categorized into centralized automated dispensing systems and decentralized automated dispensing systems. Centralized automated dispensing systems held the highest market share and is expected to grow with the highest growth rate during the forecast period. Increase in adoption of automatic pill dispenser in hospitals and other healthcare facilities for an effective workflow fuel the growth of the centralized automated dispensing systems market. On the basis of end user, hospital pharmacy held the highest market share owing to increase in prevalence of diseases and trauma cases in hospitals.
By geography, the global automatic pill dispenser machine market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America held the largest share of the market in 2016, followed by Europe. On the other hand, Asia is anticipated to be the fastest-growing regional segment during the analysis period. The key factors that drive the growth of this market include increase in pool of patient population, growth in prevalence of infectious and chronic diseases, and rise in government investments for the development of better healthcare facilities and R&D. Asia-Pacific is expected to emerge as the area with maximum growth potential due to the focus of key players in the emerging economies and improvements in healthcare infrastructure.
Key Findings of the Automatic Pill Dispenser Machine Market:
• By type, the centralized automated dispensing system segment dominated the market in 2016, and is projected to grow at the highest CAGR.
• By application, the hospital pharmacy segment accounted for the highest share in 2016.
• The U.S. was the major shareholder in the North America cardiac surgical devices market in 2016.
• Asia-Pacific is expected to show the highest growth rate during the analysis period.
• China is expected to grow at the highest CAGR in the Asia-Pacific market.
Major companies operating in this market adopt product launch as their key development strategy. Companies profiled in this market 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.
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Other prominent players in the value chain include Illinois Tool Works, Pearson Medical Technologies, Accu-Chart Plus Healthcare System, Allscripts Healthcare Solutions, Inc., Meditech, Constellation Software Inc., and Optum Inc.
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