Digital Pills Market
Digital Pills Market Industry analysis and Forecast 2029
PUNE, MAHARASHTRA, INDIA, December 9, 2022 /EINPresswire.com/ — A worldwide Digital Pills Market research report is a verified and reliable source of information that gives a telescopic view of the existing market trends, emerging products, situations, and opportunities that drives the business toward success. This global market research report is organized by collecting market research data from different corners of the globe with an experienced team of language resources. The report serves the clients to tackle every strategic aspect including product development, product specification, exploring niche growth opportunities, application modelling, and new geographical markets. The universal market report also provides company profiles and contact information of the key market players in the key manufacturer’s section.
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.
Data Bridge Market Research analyses that the digital pills market was valued at USD 3.64 billion in 2021 and is expected to reach USD 6.91 billion by 2029, registering a CAGR of 8.35 % during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Digital pills are ingestible sensors that are attached to a small wearable skin sensor patch that transfers the collected data to a connected digital device including a smartphone. The information gathered from digital pills is saved, and patients can share it with their doctors and caregivers.
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Digital Pills Market Dynamics
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.
Opportunities
Growing R&D activities will boost many market opportunities during the forecast period.
Moreover, the rising number of research and development activities coupled with high level of investments will provide beneficial opportunities for the digital pills market growth.
Moreover, increasing technological advancements and modernization in healthcare devices will further provide beneficial opportunities for the digital pills market growth.
Global Digital Pills Market Scope
The digital pills market is segmented on the basis of product type, indication, distribution channel, diseases and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
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
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Digital Pills Market Regional Analysis/Insights
The digital pills market is analysed and market size insights and trends are provided by country, product type, indication, distribution channel, diseases and end-user as referenced above.
The countries covered in the digital pills market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the digital pills market because of the growing adoption of advanced technologies by manufacturers in tracking tools and increase in R&D investments in this region. Additionally, rising prevalence of diseases such as diabetes and other cardiovascular disorders and increase in faster recovery times from greater adherence to treatment regimens in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The digital pills market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for digital pills market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the digital pills market. The data is available for historic period 2010-2020.
Competitive Landscape and Digital Pills Market Share Analysis
The Digital pills market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to digital pills market.
Some of the major players operating in the digital pills market are 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), among others.
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Research Methodology: Global Digital Pills Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis.
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About Data Bridge Market Research, Private Ltd
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