Automatic Pill Dispenser Market Size

Automatic Pill Dispenser Market Analysis

The Automatic Pill Dispenser Market size is estimated at USD 3.37 billion in 2024, and is expected to reach USD 4.98 billion by 2029, growing at a CAGR of 8.11% during the forecast period (2024-2029).

COVID-19 led to a significant impact on the use of automated pill dispensers. The rising need for less human interaction boosted the demand for the product. For instance, according to the study published in the International Journal of Science Engineering and Technology, the major objective of the dispensing machine is to make medicine available to users around the clock so that it may assist villagers who live far from a hospital or clinic in purchasing medication. The increased workload in hospitals, the increased responsibility for patient satisfaction, and the effective dispensing time for single medications have a positive impact on the growth of the global automatic pill dispenser market in the forthcoming years. Furthermore, the market has seen a significant surge post-pandemic due to the rising importance of automated pill dispensers and rising awareness about medication adherence in the elderly as an automated pill system is a simple wearable gadget to set up and can dispense tablets to elderly post-covid patients who need assistance taking their medications.

The studied market growth is predominantly contributed by factors such as the growing burden of diseases, technological advancements in healthcare, and the increasing elderly population across the globe. Due to the changing lifestyle pattern, diseases are increasing largely among the population. For instance, 2021 WHO Global Health Estimates 2021 reported the top ten global causes of Disability-Adjusted Life Years (DALYs) were neonatal conditions, ischaemic heart disease, stroke, lower respiratory infections, diarrhoeal diseases, road injury, chronic obstructive pulmonary disease, diabetes mellitus, tuberculosis, and congenital anomalies. Also, there has been the greatest increase in death in females around threefold due to dementia and Alzheimer’s over the past two decades, with around 80% more deaths and 70% more DALYs in females than males due to these neurological diseases.

With the increasing cases of Alzheimer's and dementia, there are increased chances of missing doses of medication or wrong administration of it, hence increasing the need for an automatic pill dispenser. For another instance, in 2022 Alzheimer's Association reported that more than 6 million Americans lived with Alzheimer's, and this number is expected to increase by 13 million by 2050. Alzheimer's is a chronic disorder associated with depression, memory loss, and other physiological issues in the geriatric population, thereby increasing the patient's visits to hospitals; thus, concerning the above-mentioned facts, the automatic pill dispenser market is expected to show lucrative growth over the forecast period.

The elderly population is increasing across the world and is largely affected by some kind of chronic disease. With increasing age, forgetfulness becomes very common in geriatric people, so it becomes a challenge to keep on track with the medications. Moreover, the United Nations, Department of Economic and Social Affairs (UNDESA), World Population Ageing Highlights, 2022 stated that in 2022, there were 771 million people in the world aged 65 or over and which is projected to be 994 million in 2030 and 1.6 billion by 2050. Thus, the increasing aging is leading to an increased burden of chronic diseases all over the globe, and the need for care drives the automatic pill dispenser market.

Moreover, the other factors associated with the growth of the automatic pill dispenser market, like technological adoptions in healthcare, also participate in the growth. However, the cost associated with automatic pill dispensers may hamper the growth of the market.