Smart Pill Boxes Bottles Market

Smart Pill Boxes & Bottles Market: Improving Medication Compliance and Rising Need for Medication Monitoring & Management to Elevate Demand: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028

  • 2019-02-19
  • REP-GB-1710
  • 54 Tables
  • 150 Figures
  • 230 pages
  • PDF PPT EXCEL
Smart Pill Boxes Bottles Market

An Incisive, In-depth Analysis on the Smart Pill Boxes Bottles Market

This study offers a comprehensive, 360 degree analysis on the Smart Pill Boxes Bottles market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Smart Pill Boxes Bottles market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

Tier 1 Manufacturers Account for Majority of the Volume Share of the Smart Pill Boxes & Bottles Market

The Smart Pill Boxes & Bottles market is dominated by the top 3 manufacturers, which include Koninklijke Philips N.V., AdhereTech, PharmRight Corporation & Livi. These manufacturers are competing on the basis of the new product launched, improving software technology and develop new innovation in the existing systems

Rising competition among manufacturer to provide quality care to patients is projected to drive revenue growth of smart pill boxes and bottles market over the forecast period. This leads to increase use of medication dispensers by hospital, long term care centers, senior care centers and homecare settings to provide quality care with minimum risk of error.  These companies are also focusing on development of more advance medication dispensing devices which can eliminate the risk of failure during medication completely owing to increasing chronic disease and geriatric population

Improving Medication Compliance with Smart Pill Bottles/Dispensers Driving Smart Pill Boxes & Bottles Market

New technologies will provide the healthcare industry new ways to improve medication adherence with smart medication adherence sensors. With these new technologies, healthcare providers and pharmacists can follow up on patient medication even while being physically away. It is estimated that 70% of adults don’t adhere to the prescribed regimen, take less than the prescribed dose or discontinue drug therapy without prior discussion with physician. The economic burden of non-adherence medication is estimated to be $100-$300 billion annually, which includes the cost of hospitalization and emergency department, which can be prevented with proper adherence. New devices and technologies, such as smart pills boxes and bottles, reduce the number of cases of hospitalization due to chronic diseases by increasing adherence. This particular is anticipated to push the market of smart pill boxes and bottles in near future.

With increasing incidences related to chronic diseases, medication adherence has become more important than ever as it reduces associated healthcare costs. This particular factor will drive the growth of the market during the forecast period

Smart Pill Bottles/Dispensers Reduce Re-hospitalization Costs

According to the CDC, Nonadherence (failure of patients to properly take prescribed medications) causes 30 to 50 % of chronic disease treatment failures, and results in 125,000 deaths per year in the U.S. Nonadherence is also a major source of waste, costing the U.S. health care system between $100 billion and $300 billion annually. However with the use of smart pill bottles and boxes, the hospitalization cost can be reduced, hence increased demand flourish the market in the near future. All of these factors will add to the growth of the market during the forecast period.

Expanding Geriatric Population to Increase the Demand for Smart Pill Boxes & Bottles

Increasing greying population is prone to different types of chronic diseases and also needs medication on a daily basis. This particular factor has also been contributing to growing demand for smart pills dispensers. Increasing demand for smart pills dispensers in homecare and senior care & assisted living settings will be a major factor that will create enormous opportunities for the manufacturers operating in the market.

According to United Nations, middle-income countries are expecting rapid growth in their greying population between 2015 and 2030. In India, for example, the aging population is projected to grow by 64 percent between 2015 and 2030. In China, the aging population is projected to grow by 71 percent during the same period

Competitive Landscape

This section of the report features the profiles of the key players of the Smart Pill Boxes & Bottles market based on their market shares, differential strategies, product offerings, marketing approach and company dashboard. Examples of some of the key players featured in this report include AdhereTech, Koninklijke Philips N.V., MedMinder, PharmRight Corporation & Livi, Medipense Inc., e-pill, LLC, MedReady Inc., Pillsy, Inc., DoseSmart Inc, SMRxT INC, Pillo, Inc. and PillDrill, Inc.

Companies in medication dispenser market are actively engaging in development of new technology, use of internet of things and application in developing new automatic dispenser in order to strengthen their product portfolio and increase market share.

Definition

Smart pill boxes and bottles are used by the users who regularly takes medicines and the prescription of their medicine is long enough to remember for the patients and for their care giver. Old age people suffer from problems to forget to take pills on proper time which causes health issues for patients with permanent disease like diabetes, breathing problem, blood pressure, heart problems, cancer diseases etc. The smart pill boxes and bottles sense if the patient had taken out pills from the box or not and remind the user to take pills accordingly. Smart pill boxes are usually used by the patients suffering from dementia-inability to remember things. Poor medication adherence is one of the major cause of illness and treatment failure and use of smart pill box and bottles are used to overcome causes of adherence.

About the Report

The company conducted a research study on the Smart Pill Boxes & Bottles market for the forecast period 2018 to 2028. The report offers a comprehensive evaluation of the business opportunities prevailing in the Smart Pill Boxes & Bottles market with insights on the prices, current trends and Technology Roadmap in the Smart Pill Boxes & Bottles market.

Segmentation

The report offers a comprehensive taxonomy of the Smart Pill Boxes & Bottles market based on the product type, indication, end user and region. By product type, he Smart Pill Boxes & Bottles market is segmented into Smart Pill Box and Smart Pill Bottles. By indication, the Smart Pill Boxes & Bottles market is segmented into dementia, Parkinson’s disease, cancer management, diabetes care, geriatric care, disability and others. By end user, the smart pill boxes & bottles market is segmented into Seniors Care & Assisted Living, Long Term Care Centers and Home Care Settings. The Smart Pill Boxes & Bottles market has been analysed across the regions of North America, Latin America, Europe, South Asia, East Asia, Oceania and the Middle East & Africa (MEA).

Additional Questions Answered

Some of the additional questions addressed in this report on the Smart Pill Boxes & Bottles market:

  • What is the overall revenue generation potential of the Smart Pill Boxes & Bottles market across the regions of Europe and South Asia?

  • Who are the key regional and global competitors? What are their portfolios in the Smart Pill Boxes & Bottles market?

  • What are the major challenges influencing the growth of the Smart Pill Boxes & Bottles market?

Research Methodology

The Smart Pill Boxes & Bottles market has been estimated based on a supply-demand approach. The market was first calculated based on the epidemiology of Dementia, Cancer etc. in different regions/countries in the Smart Pill Boxes & Bottles. Some of the other qualitative factors analysed include the awareness level and the demand of dispenser for different indications. This information is further validated with rigorous primary research (which includes interviews, surveys, in-person interactions and the viewpoints of seasoned analysts) and secondary research (which includes verified paid sources, authentic trade journals and resourceful databases). The research study on the Smart Pill Boxes & Bottles market also includes the top trends and the macro- as well as micro-economic factors shaping the Smart Pill Boxes & Bottles market. With this approach, the report on the Smart Pill Boxes & Bottles market estimates the industry attractiveness of every major segment in the Smart Pill Boxes & Bottles over the forecast period.

A recent market study published by the company “Smart Pill Boxes & Bottles Market: Global Industry Analysis 20132017 & Opportunity Assessment, 2018–2028” consists of a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historic as well as current growth parameters of the Smart Pill Boxes & Bottles market, the growth prospects of the market are obtained with maximum precision. The report features the unique and salient factors that are likely to significantly impact the development of the Smart Pill Boxes & Bottles market during the forecast period. It can help market players modify their manufacturing and marketing strategies to envisage maximum growth in the Smart Pill Boxes & Bottles market in the upcoming years. The report provides detailed information about the current and future growth prospects of the Smart Pill Boxes & Bottles market in the most comprehensive manner for the better understanding of readers.

Chapter 01 – Executive Summary

The report commences with the executive summary of the Smart Pill Boxes & Bottles market, which includes the summary of key findings and key statistics of the market. It also includes the market value (US$ million) estimates of the leading segments of the Smart Pill Boxes & Bottles market.

Chapter 02 – Market Introduction

Readers can find the detailed taxonomy and the definition of the Smart Pill Boxes & Bottles market in this chapter, which will help them understand the basic information about the Smart Pill Boxes & Bottles market dynamics, supply chain, cost structure and pricing analysis. A list of key distributors and suppliers, as well as a list of key market participants is included in the report.

Chapter 03 – Global Smart Pill Boxes & Bottles Market Analysis 2013 - 2017 & Opportunity Assessment 2018 - 2028, By Product Type

Based on the type, the Smart Pill Boxes & Bottles market is segmented into Smart Pill Box and Smart Pill Bottles. In this chapter, readers can find information about the key trends and developments in the Smart Pill Boxes & Bottles market and market attractiveness analysis based on the Product Type.

Chapter 04 – Global Smart Pill Boxes & Bottles Market Analysis 2013 - 2017 & Opportunity Assessment, 2018 - 2028, By Indication

Based on the indication, the Smart Pill Boxes & Bottles market is segmented into dementia, Parkinson’s disease, cancer management, diabetes care, geriatric care, disability and others. In this chapter, readers can find information about the key trends and developments in the Smart Pill Boxes & Bottles market and market attractive analysis based on indication.

Chapter 05 – Global Smart Pill Boxes & Bottles Market Analysis 2013 - 2017 & Opportunity Assessment, 2018 - 2028, By End User

Based on the distribution channel, the Smart Pill Boxes & Bottles market is segmented into seniors care & assisted living, long term care centers and home care settings in this chapter, readers can find information about the key trends and developments in the smart pill boxes & bottles market and market attractive analysis based on the end user for each region.

Chapter 06 – Global Smart Pill Boxes & Bottles Market Analysis 2013 - 2017 & Opportunity Assessment, 2018 - 2028, By Region

This chapter explains how the Smart Pill Boxes & Bottles market will grow across various geographic regions, such as North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa (MEA).

Chapter 07 – North America Smart Pill Boxes & Bottles Market Analysis 20132017 & Opportunity Assessment, 20182028

This chapter includes a detailed analysis of the growth of the North America smart pill boxes & bottles market along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations and market growth based on the end users and countries in North America.

Chapter 08 – Latin America Smart Pill Boxes & Bottles Market Analysis 20132017 & Opportunity Assessment, 20182028

Readers can find detailed information about several factors, such as the pricing analysis and the regional trends, which are impacting the growth of the Latin America Smart Pill Boxes & Bottles market. This chapter also includes the growth prospects of the Smart Pill Boxes & Bottles market in the leading LATAM countries such as Brazil, Mexico and the Rest of Latin America.

Chapter 09 –Europe Smart Pill Boxes & Bottles Market Analysis 20132017 & Opportunity Assessment, 20182028

Important growth prospects of the Smart Pill Boxes & Bottles market based on its end users in several countries, such as Germany, the UK, France, Spain, Italy, Russia, Poland and Rest of Europe, are included in this chapter.

Chapter 10 – South Asia Smart Pill Boxes & Bottles Market Analysis 20132017 & Opportunity Assessment, 20182028

Readers can find detailed information about several factors, such as the regional trends, which are impacting the growth of the South Asia Smart Pill Boxes & Bottles market. This chapter also includes the growth prospects of the Smart Pill Boxes & Bottles market in the leading South Asia countries such as India, Thailand, Indonesia, Malaysia and Rest of South Asia

Chapter 11 – East Asia Smart Pill Boxes & Bottles Market Analysis 20132017 & Opportunity Assessment, 20182028

In this chapter, China and Japan are the leading countries in the East Asia region, which are the prime subjects of assessment to obtain the growth prospects of the East Asia Smart Pill Boxes & Bottles market. Readers can find detailed information about the growth parameters of the East Asia Smart Pill Boxes & Bottles market during the period 2018–2028.

Chapter 12 – Oceania Smart Pill Boxes & Bottles Market Analysis 20132017 & Opportunity Assessment, 20182028

Readers can find important factors that can significantly impact the growth of the Smart Pill Boxes & Bottles market in Australia and New Zealand during the forecast period based on the market segmentation.

Chapter 13 – MEA Smart Pill Boxes & Bottles Market Analysis 20132017 & Opportunity Assessment, 20182028

This chapter provides information about how the Smart Pill Boxes & Bottles market will grow in the major countries in the MEA region, such as GCC Countries, Northern Africa, South Africa and the rest of MEA, during the period 2018–2028.

Chapter 14 – Competition Landscape, Company Share and Company Profiles

In this chapter, readers can find a comprehensive list of all the leading stakeholders in the Smart Pill Boxes & Bottles market, along with detailed information about each company, which includes the company overview, revenue shares, strategic overview and recent company developments. Some of the market players featured in the report are AdhereTech, Koninklijke Philips N.V., MedMinder, PharmRight Corporation & Livi, Medipense Inc., e-pill, LLC, MedReady Inc., Pillsy, Inc., DoseSmart Inc, SMRxT INC, Pillo, Inc., PillDrill, Inc.

Chapter 15 – Assumptions and Acronyms

This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the Smart Pill Boxes & Bottles report.

Chapter 16 – Research Methodology

This chapter helps readers understand the research methodology followed to obtain the various conclusions as well as important qualitative and quantitative information about the Smart Pill Boxes & Bottles market.

Smart Pill Boxes Bottles Market Reports - Table of Contents

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