What is Smart Pill Dispenser Market?
A smart pill dispenser is a component of the medication monitoring system, which consists of smart medication dispensers and a medication monitoring server. It transmits three types of data to the medication monitoring server: the patient’s medication state, device state, and the system settings.
The market study is being classified by Type (Centralized automated dispensing system (Robots and Carousels) and Decentralized automated dispensing system (Pharmacy-based automated dispensing system, Ward-based automated dispensing system and Automated unit-dose dispensing system)), by Application (Hospital Pharmacy, Retail Pharmacy and Home Healthcare) and major geographies with country level break-up.
Hero Health, Inc. (United States), Medminder Systems, Inc. (United States), Lepu Medical Technology (Beijing) Co., Ltd. (China), TabTimer Pty Ltd (Australia), PharmaCell (Egypt), Koninklijke Philips N.V. (Netherlands), AceAge Inc. (Canada), Medipense Inc. (Canada), PharmRight Corporation (United States) and Omnicell Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Cerner Corporation (United States), Capsa Healthcare, LLC (United States) and Parata Systems, LLC (United States).
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Smart Pill Dispenser market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Smart Pill Dispenser market by Type, Application and Region.
On the basis of geography, the market of Smart Pill Dispenser has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increased Prevalence of Chronic Diseases
- Increased Technological Advancements in the Healthcare
Market Trend
- Increased Research and Development Activities
Restraints
- High Cost of Smart Pill Dispenser
Opportunities
- Growing Number of Hospitalized Patients
- Rise in the Healthcare Industry
Challenges
- Increasing Competition in the Market
In July 2020, Innovative pharmacy MedMinder, announced, today, the introduction of the first automatic pill dispenser with telemedicine capabilities focused on the elderly and chronically ill. The release comes at a time when these individuals are increasingly relying on remote medical solutions to meet their medical needs while allowing them to maintain their independence.
Key Target Audience
Smart Pill Dispenser Developers, Emerging Companies, Distributors, Research Professionals and End-users