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The market for digital pills is estimated to grow rapidly over the forecast period. Ingestible sensors in pharmaceuticals will revolutionize the patient compliance problem. Medication or prescription compliance is also an issue for mentally ill patients. Many older individuals find it difficult to maintain track of their medications simply because they forget to take them. Currently, digital tablets are regulated as digital medicine. Oral chemotherapy compliance could benefit greatly from the use of digital pills.
Key Growth Drivers:
- Increasing prevalence of chronic disorders will drive the market’s growth rate.
The prevalence of chronic disorders such as diabetes and other cardiovascular diseases will enhance the adoption rate of digital pills and further influence the market dynamics during the forecast period of 2022-2029.
- Rising application of medicine adherence and patient compliance will propel the growth rate of market during the forecast period.
Digital pills are now more commonly used to track medication adherence or patient compliance. They could also be used to collect data in clinical trials. Hence this will flourish the growth rate of digital pills market.
Furthermore, decreased expenses from wasted medications will act as a major factor influencing the growth of digital pills market. Along with this, favourable reimbursement policies and rising disposable income are the driving factors accelerating the growth of the digital pills market. Also, the rise in the changing lifestyle and increasing expenditure on healthcare infrastructure are the major market drivers that will further escalate the growth of digital pills market. Another significant factor that will cushion the digital pills market’s growth rate is the faster recovery times from greater adherence to treatment regimens and quick results. In addition to this, growing development in endoscopy processes and monitoring the results of patients irrespective of location will cushion the growth rate of digital pills market.
The report outlines the involvement of key players, including:
2morrow Inc. (US), Otsuka Holdings Co., Ltd. (Japan), Pure Tech (US), Teladoc Health, Inc. (US), AliveCor, Inc.(US), Abbott (US), Olympus Corporation (Japan), Medtronic (Ireland), Smith+Nephew (UK), Novartis AG (Switzerland), Omada Health Inc. (US), Mocacare (California), GENTAG, Inc. (US),Zio by iRhythm Technologies, Inc. (US), Perficient Inc. (US), BDD Ltd (UK), CapsoVision, Inc. (USA), Ginger (US), Teladoc Health, Inc. (US), Welldoc, Inc. (US)
Key Market Segmentation
Product Type (Tablet, Capsule, Microchip Delivery Device), Indication (Mental Disorders, Cancer, Infectious Diseases, Others), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Specialty Pharmacies, Mail Order Pharmacies), Diseases (Cardiovascular Diseases, Infectious Diseases, Diabetes, Cancer, Others), End-User (Hospitals, Clinics, Home Care Settings, Others)
The Digital Pills market report includes the following countries in different regions:
The regions mentioned above encompass a comprehensive coverage of key markets, offering a global perspective on the market landscape. Here's an overview of the regions and the countries they include:
- North America: United States, Canada, and Mexico.
- Europe: Germany, France, United Kingdom, Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, and other European countries.
- Asia-Pacific (APAC): China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, and other Asia-Pacific countries.
- Middle East and Africa (MEA): Saudi Arabia, United Arab Emirates (U.A.E), South Africa, Egypt, Israel, and other countries in the Middle East and Africa region.
- South America: Brazil, Argentina, and other countries in South America.
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