Portland, OR -- (SBWIRE) -- 09/29/2017 -- According to a new report published by Allied Market Research, titled, Automatic Pill Dispenser Machine Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global automatic pill dispenser machine market was valued at $1,755 million in 2016, and is projected to reach $3,023 million by 2023, growing at a CAGR of 8% from 2017 to 2023. The centralized automated dispensing systems segment held more than four-fifths share of the total market in 2016.
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Automatic pill dispenser machines are designed to dispense different pills independently according to the user-defined dose and time specifications. The automatic pill dispenser machine support to dispense correct medication and dose, for the patients with complex medication regime and with memory loss disorders.
Based on the type, the centralized automated dispensing systems segment held the highest market share in 2016, owing to various benefits of the machines such as point-of-care availability, their capability to control storage & distribution, and maintain record of medicines.
Based on application, the hospital pharmacy segment contributed the highest market share in 2016, owing to the increase in need of fast and accurate dispensing of medicines in the hospitals and pharmacy.
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North America accounted for more than half of the share in 2016, and is expected to dominate the market throughout the forecast period and is attributed to rise in expenditure to upgrade healthcare systems and growth in demand for technologically advanced devices for rapid & accurate distribution of medicines. In addition, lucrative growth opportunities in the economic emerging countries is anticipated to provide new growth opportunities for the key players in the market. However, Asia-Pacific is estimated to register the highest growth rate during the forecast period, owing to rise in government healthcare expenditure and growth in demand for healthcare devices from large pool of patient population, and improvement in healthcare infrastructure.
Key Findings of the Automatic Pill Dispenser Machine Market:
- By type, the centralized automated dispensing system segment dominated the market in 2016, and is projected to grow at the highest CAGR.
- By application, the hospital pharmacy segment accounted for the highest share in 2016.
- The U.S. was the major shareholder in the North America cardiac surgical devices market in 2016.
- Asia-Pacific is expected to show the highest growth rate during the analysis period.
- China is expected to grow at the highest CAGR in the Asia-Pacific market.
Major companies operating in this market adopt product launch as their key development strategy. Companies profiled in this market include, Baxter International Inc., Becton, Dickinson and Company, Cerner Corporation, Capsa Healthcare, McKesson Corporation, Omnicell Inc., ScriptPro LLC, Swisslog Holdings AG, Talyst, Inc., and Yuyama Co., Ltd.
Other prominent players in the value chain include Illinois Tool Works, Pearson Medical Technologies, Accu-Chart Plus Healthcare System, Allscripts Healthcare Solutions, Inc., Meditech, Constellation Software Inc., and Optum Inc.