Automatic Pill Dispenser Machine Market: Competitive AnalysisPosted by Pareesh on May 7th, 2018 Automatic Pill Dispenser (APD) machine is a medical device designed for home usage and works for pills and capsules of a variety of sizes. It reduces drug errors by automating the dosage process for patients, through the use of visual and auditory prompts. APD removes the need to pre-sort medication, by segregating each medication to a compartment and the machine can count each dosage, individually. APD is developed using CAD software, optical sensors, Arduino Mega Microcontroller, 3D printed parts, non-continuous and continuous servos, and a 5-inch LCD display interface. The machine has potential to decrease medication errors; while increasing the quality of life of its users and minimizing hospital visits and medical costs to some extent. Medication errors consist of failure in the drug dispensing process that is risky and complex. Furthermore, these errors result in lifetime disability and other adverse effects that increase healthcare costs and hospital stay. As per the U.S. Centers for Disease Control and Prevention data, 2015, around 91 people die each day from overdose of prescribed heroin and opioids. Increasing usage of automatic pill dispenser machine for reduction of errors related to medication dispensing is expected to drive the market growth. Manufacturers in the market are also focusing on advancement in these products, which would include more safety features to avoid risks related to inaccurate amount of pills being dispensed, and increase the amount of dispensing units that could be attached. Get The Holistic SAMPLE With Research Methodology: https://www.coherentmarketinsights.com/insight/request-sample/1553 Automatic Pill Dispenser Machine Market: Market Dynamics The global geriatric population is increasing significantly and is susceptible to numerous cardiac disorders such as cardiomyopathy, stroke, arrhythmias, and cardiac arrest. Furthermore, some degree of memory loss is common in this population. This can lead to dosage skip or overdose that can lead to health complications. Moreover, elder patients struggle to open medication packages, thereby needing an automated pill dispensing system. According to the Administration on Aging, in the U.S. by 2060, there will be around 98 million older persons, which is more than twice their number in 2013. As of 2014, 34% of the 4 million prescriptions filed, were for people over 65. This group also accounted for 30% of all over the counter drug use. Centralized automated dispensing systems have seen increase in adoption in hospitals and other healthcare facilities. Increasing healthcare awareness, rapid growth of infections and chronic diseases such as blood pressure, asthma, and diabetes is expected to lead to high demand for automatic pill dispenser machine in all age group patients. Furthermore, growth in technological advancement for workflow optimization in hospitals and other healthcare centers drives the automatic pill dispenser machine market growth. However, high cost of machines can hinder automatic pill dispenser machine market growth. The automatic pill dispenser machine can aid in pill dispensing in large and small healthcare centers. It can reduce the amount of time medical staff devotes to every patient. Moreover, vitamins and another essential dietary supplement that is required daily can be an opportunity for use of an automatic pill dispenser machine. The rental or leasing of these machines is increasingly becoming popular in developed countries. Automatic Pill Dispenser Machine Market: Regional Insights Regional segmentation of automatic pill dispenser machine market by Coherent Market Insights, includes North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America automatic pill dispenser machine market is anticipated to account for the dominant position, due to rising geriatric population in the region. According to U.S. Department of Health and Human Services, the population aged over 85 years is projected to triple from 6.3 million in 2015 to 14.6 million in 2040. Moreover, according to a report by National Public Ratio (NPR), 119 million people in the U.S. took prescription drugs in 2017 for various disorders. These factors are expected to aid in growth of the market in the region. Asia Pacific automatic pill dispenser machine market is expected to be the fastest growing, owing to increasing patient pool coupled with rising prevalence of chronic and infectious diseases. As per WHO data 2013, approximately 12% of adults had diabetes, and 50% had a pre-diabetes condition in China. Future developments would include more safety features to avoid the chance of an inaccurate amount of pills being dispensed, and increasing the amount of dispensing units that could be attached to the machine. Automatic Pill Dispenser Machine Market: Competitive Analysis Major players operating in the automatic pill dispenser machine market include Becton, Dickinson and Company, Baxter International Inc., Capsa Healthcare, Cerner Corporation, McKesson Corporation, Omnicell Inc., Swisslog Holdings AG, ScriptPro LLC, Yuyama Co. Ltd., and Talyst, Inc. About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr.Shah Like it? Share it! More by this author |