New report: Smart Pill Boxes & Bottles Market outlook for 2019 | AdhereTech, Koninklijke Philips N.V., MedMinder, PharmRight Corporation & Livi, Medipense Inc.
Almost 70% of adult patients are observed to discontinue or manipulate drug therapy, resulting in non-adherence to prescribed medication. The study opines that this directly adds to the economic burden on healthcare delivery system in form of emergency cases and hospitalization.
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Smart pill boxes and bottles are increasingly being perceived as a potential solution to such challenges posed by increased healthcare delivery costs. Significance of medication adherence continues to rise with increasing prevalence of chronic conditions, propelling demand for smart pill boxes and bottles.
Dementia and geriatric care remain the key application areas of smart pill boxes and bottles, according to the report. More than 80% of sales is accounted by aging patients and dementia-afflicted population. Cancer management is likely to emerge lucrative in terms of applicability in coming years.
With surging demand for high-quality healthcare delivery, senior care centers, hospitals, long-term care centers, and homecare settings are accelerating adoption of medication dispensers, thereby elevating the revenue growth of smart pill boxes and bottles market. Some of the leading companies are actively involved in the development of advanced technology medication dispensing devices with zero error risks during medication.
Home care settings maintain the highest consumption share in smart pill boxes and bottles market that roughly equates 65% of total sales. Almost a fifth of smart pill boxes and bottles sold are installed at seniors care and assisted living centers. FMI’s analysis indicates that long-term care centers are also creating promising market opportunities for smart pill boxes and bottles manufacturers and distributors.
North America continues to reign supreme owing to early adoption of advanced technology enabled smart pill boxes and bottles, accounting for more than a third of the global market revenue. European market for smart pill boxes and bottles also represents a substantial volume share, majorly driven by German patients. South and East Asian regions are briskly developing high-potential markets for manufacturers and distributors of smart pill boxes and bottles, says the report.
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The vendor landscape of smart pill boxes and bottles market remains fairly consolidated and competitive, as Tier 1 manufacturers continue to account for a majority of share in the market in terms of volume. While dominance of Koninklijke Philips N.V., PharmRight Corporation & Livi, and AdhereTech prevails in smart pill boxes and bottles market, the report finds that the competition among these players is characterized by product innovation, new launches, and technological advancements.
Smart Pill Boxes Bottles Market Reports - Table of Contents
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Global Smart Pill Boxes and Bottles Market - Pricing Analysis
4.1. Regional Pricing Analysis By Product Type
5. Global Smart Pill Boxes and Bottles Market Demand (in Value or Size in US$ Mn) Analysis 2013-2017 and Forecast, 2018-2028
5.1. Historical Market Value (US$ Mn) Analysis, 2013-2017
5.2. Current and Future Market Value (US$ Mn) Projections, 2018-2028
5.2.1. Y-o-Y Growth Trend Analysis
5.2.2. Absolute $ Opportunity Analysis
6. Market Background
6.1. Macro-Economic Factors
6.1.1. Global GDP Growth Outlook
6.1.2. Global Healthcare Expenditure Outlook
6.2. Forecast Factors - Relevance & Impact
6.2.1. Global healthcare Industry Outlook
6.2.2. New Approved product Launches
6.2.3. Technological Advancements
6.2.4. Product Type Adoption Rate
6.2.5. Growing number of Long Term Care Centers
6.3. Value Chain Analysis
6.4. Market Dynamics
6.4.3. Opportunity Analysis
7. Global Smart Pill Boxes and Bottles Market Analysis 2013-2017 and Forecast 2018-2028, by Product Type
7.1. Introduction / Key Findings
7.2. Historical Market Size (US$ Mn) and Volume Trend Analysis By Product Type, 2013 – 2017
7.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Product Type, 2018 – 2028
7.3.1. Smart Pill Boxes
7.3.2. Smart Pill Bottles
7.4. Market Attractiveness Analysis By Product Type
8. Global Smart Pill Boxes and Bottles Market Analysis 2013-2017 and Forecast 2018-2028, by Indication
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Mn) Analysis By Indication, 2013 - 2017
8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Indication, 2018 – 2028
8.3.2. Parkinson’s Disease
8.3.3. Cancer Management
8.3.4. Diabetes Care
8.3.5. Geriatric Care
8.4. Market Attractiveness Analysis By Indication
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Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
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