Automatic Pill Dispenser Machine Market by Type (Centralized Automated Dispensing Systems and Decentralized Automated Dispensing Systems) and by Application (Hospital Pharmacy, Retail Pharmacy, and Home Healthcare)
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Automatic pill dispenser machines are designed to ease the work load of pharmacist, doctor, nurse, patients, and caretakers, by enabling medication counting, medicine management, and dispensing and inventory control. These devices support minimization of prescription errors that lead to fatal injury or death and ensure patient safety.
The global automatic pill dispenser machine market accounted for $1,755 million in 2016, and is estimated to reach $3,023 million by 2023, growing at a CAGR of 8% during the analysis period of 2017-2023.
Increase in healthcare awareness, rapid growth of infections & chronic diseases such as diabetes, asthma, blood pressure, & others, and a rise in the geriatric population primarily drive the automatic pill dispenser machine market.
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The rise in need for self-care and home-based treatments due to hectic lifestyles and to reduce prescription & dispensing errors fuel the market growth. Furthermore, growth in healthcare expenditure and technological advancement for workflow optimization in hospitals and other healthcare centers drive the market growth.
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However, high installation cost of some of these systems and significant levels of government rules & regulations associated with production and sale of automatic pill dispenser machine limit the growth of the market. Ongoing R&D in the field of automatic pill dispenser machine is anticipated to create new opportunities during the forecast period.
The market is segmented on the basis of type, application, and region. Based on type, the market is categorized into centralized automated dispensing systems and decentralized automated dispensing systems.
Based on application, the market is classified into hospital pharmacy, retail pharmacy, and home healthcare. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global automatic pill dispenser machine market, with current trends and future estimations to elucidate investment pockets.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
- The report provides a quantitative analysis to help stakeholders capitalize on prevailing market opportunities from 2017 to 2023 in terms of value.
- Extensive analysis of different segments helps understand various products of the market.
- Key players are profiled, and their strategies thoroughly analyzed, which predict the competitive outlook of the market.
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