The report segments the global automatic pill dispensing systems market by application, including hospital pharmacies, retail pharmacies, and home healthcare and by geography, including, the Americas, EMEA, and APAC. It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global automatic pill dispensing systems market, according to Technavio researchers:
- Growing aging population: a major market driver
- Increasing adoption of automation in healthcare: emerging market trend
- The Americas dominated the global automatic pill dispensing systems market with 45% share in 2017
- In 2017, the hospital pharmacies segment held the highest market share of 40%
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Growing aging population: a major market driver
The aging population is increasing worldwide. Countries such as Japan, the UK, the US, and Germany have a large amount of the aging population. In 2017, in the US, 10% of people with Alzheimer’s disease were 65 years and above. Diseases such as Alzheimer, osteoarthritis, cancer, chronic obstructive pulmonary disease, and diabetes mellitus are common health disorders faced by the aging population. This leads to a number of prescribed medications for the elderly. Managing all these medications can lead to mistakes such as missing doses, taking incorrect amounts, or taking medicines at the wrong time, leading to hospital visits, severity of illness, and even death. Such factors are driving the demand for automatic pill dispensing systems from the aging population.
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Increasing adoption of automation in healthcare: emerging market trend
Automation in healthcare is on the rise globally. Fully automated pharmacy solutions prove to be economical and generate precise results. Automation can replace manually intensive tasks, which saves time for healthcare professionals. This allows researchers to devote more time to patient consultation and precision in diagnosis. Automation also reduces the chances of human error and improves pharmacy productivity. It also contributes to data-driven insights because the technology used to automate processes can deliver a large volume of data, which can be used for performance improvement and optimization. The data is collected on the working of the process and use the information to improve the same process. This leads to an increase in throughput and helps in reducing the workload of healthcare professionals.
According to a senior analyst at Technavio for research on health and wellness, “The latest automatic pill dispensers come with features such as flexible configurations in limited space. The medication dispensing systems can be customized with spacious drawers. It can also be combined in various configurations and can manage a pharmacy's unique needs. These features can reduce automation footprint on hospital floors and pharmacies that have space constraints.”
Global market opportunities
In terms of regional dominance, the Americas led the global automatic pill dispensing systems market, followed by EMEA and APAC in 2017. Significant investments made in healthcare research in North America is one of the major factor driving growth in the Americas. This region is expected to continue to dominate the market during the forecast period owing to the increase in government initiatives and the growth in the economy of South America.
In EMEA, in countries such as Germany, the UK, and France, the high prevalence of mental disorders and the rising healthcare expenditure is leading to the increase in demand for automatic pill dispensing systems. Similarly, in APAC, the increasing aging population and the rising healthcare expenditure are driving the demand for pharmacy automation systems such as automatic pill dispensing systems.
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