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New York, United States, Tue, 10 Nov 2020 09:12:58 / Comserve Inc. / — Global drug (medicine) dispenser market is expected to register a robust CAGR over the forecast period. Moreover, the global drug (medicine) dispenser market is expected to reach at notable revenue by the end of 2021.
The global drug (medicine) dispenser market is segmented into application such as hospitals, pharmacies and homecare. Among these segments, homecare segment is expected to grow at maximum pace during the forecast period. The rise of the homecare segment is backed by the increasing demand for drug (medicine) dispenser by patients who have to response to drugs on daily basis and especially by patients who have memory deficiencies. However, it can be used in hospitals and pharmacies also to reduce chances of medication error.
Global drug (medicine) dispenser market is expected to register a robust CAGR over the forecast period. Moreover, the global drug (medicine) dispenser market is expected to reach at notable revenue by the end of 2021. Factor such as technological advancements in medical devices and increasing geriatric population across the globe are expected to be the dynamic factors behind the growth of this segment during the forecast period.
The North America segment by region accounted for major share of global drug (medicine) dispenser market in 2015.Moreover, North America drug (Medicine) dispenser is poised to display substantial growth during the forecast period owing to a number of factors such as swelled disposable income, high spending on healthcare and increasing adoption of advanced medical devices in this region.
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Increased Geriatric Population
Factors such as increasing older population and rising incidence of age-related memory weakness are anticipated to fuel the demand for drug (medicine) dispenser over the forecast period. Furthermore, drug (medicine) dispenser helps aged people to maintain their regular medication and avoid any medication error. This factor is envisioned to escalate the growth of Drug (Dispenser) Market in Future.
Technological Advancements in Medical Devices
Demand for automated medication dispensing system is increasing due to its advantages such as prevention of medication error, easy controlling and better customization. Additionally, swift advancements in healthcare technologies and concerns regarding patient’s health and medication in hospitals is also increasing the demand for drug (medicine) dispenser in hospitals which in turn likely to foster the growth of global drug (medicine) dispenser market over the forecast period.
Although, high repair and maintenance cost of advanced medication dispenser and slow adoption rate in under developed countries are some of the factors that are likely to obstruct the growth of the drug (medicine) dispenser market in the near future.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of