NEW
YORK, July 26, 2024 /PRNewswire/ -- The
global automatic pill dispensing systems market size is
estimated to grow by USD 2.15 billion
from 2024-2028, according to Technavio. The market is estimated to
grow at a CAGR of 9.45% during the forecast period. Growing aging
population is driving market growth, with a trend
towards increasing adoption of automation in healthcare.
However, high cost of pharmacy automation systems poses a
challenge. Key market players include 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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Automatic Pill
Dispensing Systems Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
9.45%
|
Market growth
2024-2028
|
USD 2157.2
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
8.42
|
Regional
analysis
|
North America, Europe,
APAC, Middle East and Africa, and South America
|
Performing market
contribution
|
North America at
63%
|
Key
countries
|
US, UK, Japan, China,
and Germany
|
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.
|
Market Driver
In the global healthcare sector, there is a growing trend
towards automation to enhance efficiency and productivity.
Automated pharmacy solutions, including automatic pill dispensing
systems, are increasingly being adopted due to their cost-saving
benefits and precise results. These systems automate time-consuming
tasks, allowing healthcare professionals to focus on patient
consultation and diagnosis. Automation also minimizes human error,
contributing to data-driven insights for performance improvement.
The latest automatic pill dispensers offer customizable
configurations, taking up minimal space. For instance, the
ScriptPro CRS robot line includes models such as the CRS, CRS 150,
and CRS 225, which occupy only 7, 9.5, and 12.1 square feet,
respectively. This space-saving design caters to the unique needs
of hospitals and pharmacies with limited space. The adoption of
these systems is expected to continue growing due to their
significant contributions to healthcare productivity and
accuracy.
Automatic pill dispensing systems are gaining popularity in
various healthcare settings, including nursing wards and units, due
to their ability to improve patient safety and reduce medication
errors. These systems are particularly beneficial for managing
complex drug regimens for chronic conditions like diabetes and
hypertension in the aging population. Technical improvements, such
as smart devices and AI algorithms, enable remote monitoring
capabilities and integration with telemedicine platforms.
Healthcare systems are adopting automatic pill dispensers to
address medication shortages and waste reduction. These systems are
also useful in hospitals, clinics, home healthcare, and even retail
pharmacies. They cater to various patient populations, including
those with ischaemic heart disease, stroke, lower respiratory
infections, diarrheal diseases, road injuries, diabetes mellitus,
tuberculosis, congenital anomalies, and neonatal conditions.
Automatic pill dispensers are essential telehealth devices that
enhance patient care and pharmacy performance in the healthcare
industries.
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Market Challenges
- Automatic pill dispensing systems are essential pharmacy
automation products that offer benefits such as increased accuracy
and efficiency in medication dispensing. However, the market growth
for these systems faces a significant challenge due to their high
cost. Vendors offer various pricing models to cater to different
customer needs. Some sell their products at a high upfront cost,
ranging from USD500 to USD1,000, while others provide lower upfront
costs with additional monthly service fees of USD15 to USD25. A
third pricing model involves no upfront cost but higher monthly
service fees, allowing customers to rent the equipment for a low
monthly price. Despite these options, the high installation cost of
pharmacy automation systems remains a significant barrier to market
growth. For instance, the cost of installing robotics in a pharmacy
can range from USD60,000 to
USD70,000, as seen in the
installation of a robotic dispensing system worth USD485,880 at the Forth Valley Royal Hospital.
Small hospitals and retail pharmacies, which may not have the
financial resources for such capital investments, may prefer manual
medication dispensing. Consequently, the high cost of pharmacy
automation systems may restrict the market growth of the global
automatic pill dispensing systems market during the forecast
period.
- Automatic pill dispensing systems have gained significant
attention in healthcare industries due to their potential to
improve patient safety and medication intake, particularly in
nursing wards and units. These systems help reduce medication
errors, which are common in chronic and infectious diseases like
diabetes, hypertension, ischaemic heart disease, stroke, lower
respiratory infections, diarrhoeal diseases, tuberculosis, and
congenital anomalies. The aging population and increasing
prevalence of chronic conditions pose challenges for healthcare
systems, making smart devices and home automation systems
essential. Technical improvements, such as AI algorithms and remote
monitoring capabilities, enable telemedicine platforms and
telehealth devices to provide effective medication management.
Medicine shortages and waste reduction are also addressed by these
systems. Automatic pill dispensers benefit hospitals, clinics,
retail pharmacies, home healthcare, and even neonatal conditions.
Patient safety is a top priority, and these systems contribute to
improved pharmacy performance.
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Segment Overview
This automatic pill dispensing systems market report extensively
covers market segmentation by
- Type
- 1.1 Standalone pill dispenser
- 1.2 Portable pill dispenser
- Application
- 2.1 Hospital pharmacies
- 2.2 Retail pharmacies
- 2.3 Home healthcare
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Standalone pill dispenser- The standalone automatic
pill dispensing systems held the largest market share in the global
automatic pill dispensing systems market in 2023. These systems are
widely used in hospitals, pharmacies, clinics, and similar
healthcare facilities. They offer secure and organized storage of
inventory, manage access for each client based on individual
permissions, and track every transaction. Automating pill
dispensing enables pharmacists and nurses to focus more on patient
consultation and monitoring. The expansion of hospitals and
inpatient facilities in developing countries, such as India, due to a large unmet medical need, is
expected to significantly boost the standalone segment, fueling the
global automatic pill dispensing systems market growth during the
forecast period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
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technological innovations in automation and robotics.
Research Analysis
Automatic pill dispensing systems have become an essential
component of modern healthcare systems, particularly in hospitals
and clinics, where medication management is critical. These systems
are designed to ensure accurate and timely administration of
medication for various conditions, including neonatal conditions,
ischaemic heart disease, stroke, lower respiratory infections, and
diarrhoeal diseases. The increasing prevalence of chronic and
infectious diseases, road injuries, and an aging geriatric
population further emphasizes the importance of these systems.
Technical improvements in automatic pill dispensers include the
integration of smart devices, home automation systems, AI
algorithms, and remote monitoring capabilities. These advancements
enable seamless integration with telemedicine platforms,
transforming them into telehealth devices. The healthcare
industries are continually investing in these technological
developments to enhance medication intake management, improve
patient outcomes, and reduce healthcare costs.
Market Research Overview
The Automatic Pill Dispensing Systems market is witnessing
significant growth due to the increasing prevalence of chronic and
infectious diseases such as ischaemic heart disease, stroke,
lower respiratory infections, diarrhoeal diseases, road injury,
diabetes mellitus, tuberculosis, congenital anomalies, and others.
Hospitals and clinics are integrating these systems to improve
patient care, reduce medication errors, and enhance pharmacy
performance. The nursing ward and nursing unit have been major
adopters of automatic pill dispensers, especially for patients with
complex medication regimens. Technological improvements in
automatic pill dispensing systems include smart devices, home
automation systems, AI algorithms, remote monitoring capabilities,
telemedicine platforms, and more. These advancements aim to address
medication shortages, waste reduction, patient safety, and the
needs of the aging population. The healthcare industries, including
hospital-pharmacy, retail pharmacy, and home healthcare, are
investing in these systems to optimize medication intake and
improve patient outcomes. Automatic pill dispensing systems are
particularly beneficial for patients with conditions like diabetes,
hypertension, and other chronic diseases, ensuring timely and
accurate medication intake. The integration of these systems with
telehealth devices and AI algorithms can lead to better healthcare
system performance and improved patient care. The market is
expected to grow further due to the increasing focus on patient
safety and the technological developments in this space.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Standalone Pill Dispenser
- Portable Pill Dispenser
- Application
-
- Hospital Pharmacies
- Retail Pharmacies
- Home Healthcare
- Geography
-
- North America
- Europe
- APAC
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
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and potential markets and assess their competitive positions within
changing market scenarios.
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Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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