Market Study Report recently added a new title on 2021-2027 Global Automatic Pill Dispenser Market Report from its database. The report provides study with in-depth overview, describing about the Product, Size, Share, Industry Scope and elaborates market outlook and status to 2027.

Automatic pill dispensers have gained massive popularity due to their convenience and time-saving attributes. For people needing timely medication, these machines help them follow the schedule and not miss out on any medicines. Moreover, these dispensers offer several advantages, such as making it easier for the caregiver to take better care of the person with timely release of pills, which has been favorable for industry expansion.

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The automatic pill dispenser market is projected to exhibit notable growth by 2027 driven by the growing prevalence of chronic illnesses across the globe. Additionally, the expanding geriatric population is speculated to further bolster market growth through the forecast period.

Notably, the COVID-19 outbreak caused an upsurge in consumer demand for automatic pill dispensers, especially for technologically advanced products that enable touchless functioning to prevent the spread of the novel coronavirus. As a result, companies have been focusing on product development to accommodate prominent consumer needs, which has played a vital role in boosting business growth during the pandemic.

The automatic pill dispenser market has been segmented in terms of end-use, product, and region. On the basis of product, the market has been bifurcated into decentralized automatic dispenser and centralized automatic dispenser.

For instance, in July 2020, MedMinder, a major pharmaceutical company, presented an automatic pill dispenser with telemedicine capabilities specially designed for elderly patients and people suffering from chronic illnesses. In another instance, in November 2020, TeleSense Canada, a leading provider of telemedicine solutions, announced exclusive Canadian partnership to offer the smart medication dispensing system, Livi, to patients across the country. Livi supports both simple and complex medication regimen and can store over 15 pills of different shapes and sizes several times a day or as needed.

The decentralized automatic dispenser sub-segment held a substantial share in the market in 2020 and is expected to reach a valuation of around USD 1,620 million by 2027. Various capabilities possessed by these devices, along with constant innovation and developments in this type of automatic pill dispenser machines, is set to fuel the growth of the segment in the forthcoming years.

In terms of end-use, the automatic pill dispenser market has been segregated into pharmacies, hospitals, senior care, and others. In 2020, the hospitals sub-segment was valued at over USD 915 million and is anticipated to progress at a notable pace over 2021-2027. An automatic pill dispenser provides an efficient medication management system that keeps medications secured and well organized in hospitals, which is likely to be a major contributor to segmental development over the review period.

Some of the major companies operating in the automatic pill dispenser market are Becton, Dickinson, and Company, Capsa Healthcare, Cerner Corporation, Hero Health, Inc, and InstyMeds Corporation.

From the regional perspective, the Latin America automatic pill dispenser market exceeded a valuation of USD 81 million in 2020 and is estimated to witness substantial growth through the forecast timeline. Rising burden of diseases across various countries in LATAM is slated to foster regional market outlook in the future.

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