The Automatic Pill Dispenser Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Automatic Pill Dispenser Global Market Report 2024, The automatic pill dispenser market size has grown strongly in recent years. It will grow from $2.67 billion in 2023 to $2.90 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to the aging population, medication non-adherence, increased chronic diseases, regulatory support, and awareness campaigns.
The automatic pill dispenser market size is expected to see strong growth in the next few years. It will grow to $4.00 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to advancements in AI and robotics, personalized healthcare solutions, increasing remote patient monitoring, growth in digital health startups, and expanding telehealth services. Major trends in the forecast period include integration with smart home systems, AI-driven customization, telemedicine integration, voice assistant features, and remote monitoring capabilities.\
Increasing cases of dementia are expected to propel the growth of the automatic pill dispenser market going forward. Dementia refers to a group of symptoms affecting memory, thinking, and social abilities severely enough to interfere with daily functioning. It is caused by various conditions, including Alzheimer’s disease, vascular issues, and Lewy body dementia. The rise in dementia cases is largely attributed to an aging population, increased awareness, and improved diagnostic practices. Automatic pill dispensers are utilized in dementia care to ensure timely and accurate medication administration, helping to reduce the risk of missed or incorrect doses. For instance, in October 2022, according to the National Health Service England, a UK-based government department, there were 451,992 individuals with a coded diagnosis of dementia in September 2022, marking an increase of 1,450 since August 2022. Among individuals aged 65 and older estimated to have dementia, 62.2% had received a coded diagnosis by September 30, 2022, slightly up from 62.1% by August 2022. Therefore, the increasing cases of dementia are driving the growth of the automatic pill dispenser market.
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The automatic pill dispenser market covered in this report is segmented –
1) By Type: Centralized Automatic Dispenser, Decentralized Automatic Dispenser, Other Types
2) By Indication: Physical Disability, Neurodegenerative Disorders And Dementia, Other Indications
3) By Application: Hospital Pharmacy, Retail Pharmacy, Home Healthcare
Major companies operating in the automatic pill dispenser market are adopting a strategic partnership approach to enhance their technological capabilities and expand their market reach. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in February 2022, Dignio AS, a Norway-based provider of digital remote care solutions, partnered with AceAge Inc., a Canada-based healthcare technology company, to offer the Karie smart pill dispenser in Norway. The Karie smart pill companion is designed to deliver, remind, connect, and secure medication, promoting medication adherence and independence for patients. This integration is part of Dignio’s connected care solution, which includes web-based software and user-friendly patient applications.
The automatic pill dispenser market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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