Medication Dispenser Executive Summary

MediSense is part of an industry that is thriving and will continue to thrive primarily because as the economy at large makes shifts towards technology based innovation to assist in not only securing patient safety but also for ease and efficiency, these will be primary factors for the future state of growth in this industry. The North American market currently holds approximately $64% of the revenue share of the global market (“Global Medication Dispenser”, 2017). Expansion in the global market, however, is not at a standstill, “however, with an adoption of medication dispensers these errors can be prevented remarkably. This particular reason is fueling the growth of the medication dispensers market. In other regions, like Western and Eastern Europe, Asia-Pacific and Japan, the demand for medication dispensers are increasing; this creates robust development of medication dispensers market. Asia-Pacific is expected to grow at a much faster rate

As evidence by Table 1 and Table 2, one can see how the revenue for the company has grown just in the short time of existence. This is largely attributed to the fact that competitors have already introduced to customers the ability to be able to refocus attention to patient care by eliminating processes and procedures that have been less effective or shown to have deteriorated productivity. Automation tools and the products offered by MediSense, were not totally foreign to prospective customers, as the innovation was already brought forward by competing companies such as Cerner Corporation. MediSense did take lead from the foundation set-up by others, supported by our ability to offer discounts through eliminating transferrable costs onto customers and also providing state-of-the-art innovation, assisted MediSense in garnering a loyal customer-base, yielding in the revenues (Appendix C, Table1 and Table