Smart pill boxes and bottles are designed to ascertain optimal medication adherence. Medication non-adherence is one of the most pervasive issues in healthcare today. The non-adherence may be from the patient or the medical provider.
A recent study conducted at the University of California explored medical non-adherence, wherein it was found that about 40- 50% of patients with chronic illness are non-adherent to medical prescription requirements. This goes to show how important it is to adhere to medical prescriptions for reversing acute processes and getting well again.
Smart pill bottles and pill boxes are the contributors toward assuring medication adherence for the patient and the medical provider without having the concern of remembering the dosage amount and time taken. Moreover, it serves as a safeguard against overdose, a frequently reported issue within the global healthcare sector.
As the pharmaceutical industry continues to grow, the use of smart pills boxes or bottles is expected to increase in the forecast period as more end-users will be aware of the advantages of this technology. Technical limitations associated with smart pill bottles or boxes may impact the adoption rate in the marketplace.
The worldwide market for smart pills boxes and bottles is expected to expand, in-part due to the increasing number of patients living with chronic medical conditions around the planet. Cancer, heart disease, and diabetes are some of the most prevalent health concerns seen around the world.
A report from the International Diabetes Federation suggests that almost 1 in every 10 people worldwide has or is diagnosed with diabetes. Meanwhile, cancer is a leading cause of death worldwide, caused by a medical condition. The two most reported cancers over the last number of years has been breast cancer and lung cancer.
With the growth of the global population, the number of patients suffering from chronic disease will also increase. Also, we have seen a significant increase in the number of individuals living sedentary lifestyles and rely on packaged food. Both these factors have shown to have a significant impact on the immune system for the general population.
Research suggests that a male born in the U.S. has greater than 40% chance of developing a form of invasive cancer. The same statistics can be stated for the female population. Increased levels of people living with serious medical conditions will continue to increase the demand for smart pill boxes and pills bottles.
The rise in consumers’ demand for personalized medicine is driving growth of the smart pill boxes and bottles market. Personalized medicine emphasizing tailoring medical treatment to each individual patient, which often requires precision in managing medications and a greater focus on adherence. Smart pill boxes and bottles meet this demand by adding sensors, connected features, and data analytics to support medication adherence as well as monitoring.
Personalized medicine, or precision medicine, comes across as an approach in medicine that tailors’ healthcare decisions and therapies to individual patients. In contrast to traditional medicine's "one-size-fits-all" approach, personalized medicine aims to make the treatment as effective as possible while minimizing potential adverse effects by incorporating genetic, environmental, and lifestyle factors.
Precision medicine is increasingly being used to manage chronic illnesses such as cancer, diabetes, cardiovascular diseases, and neurodegenerative disorders, where personalized treatment is critical.
This model of care, and ultimately its reliance on patients to follow individualized medication regimens that often involve multiple medications at different times and doses, is not without its complications that are compounded by complexities. Individualized adherence can be complex when considering how compliance can be challenging among older patients, particularly patients with cognitive decline or the other areas of complexity.
Smart pill boxes and bottles are intended to address these challenges by giving patients improved medication compliance, tracking the patient’s medications, and allowing real-time communication between patients and caregivers.
Based on the product type, the smart pill box is growing due to the rise in product launches and approvals in this market space. Moreover, the rise in the adoption of these products has further resulted in fueling the overall smart pill boxes and bottles industry. Furthermore, the smart pill boxes category is fast expanding within the smart pill boxes and bottles market and propelled by a combination of demographic, technological, and health-related factors.
The North American market for smart pill boxes and bottles is growing at a high rate and becoming a key contributor to the region and globally. The trend toward growth is fueled by complementary factors in the U.S. and Canada, including advanced healthcare infrastructures, high-levels of digital health technology adoption, increasing prevalence of chronic diseases, and extensive regulatory support.
North American healthcare is expecting more personalization and remote care, which will aid the spread of smart medication management solutions including smart pill boxes and bottles, among information seekers, patients, caregivers, and providers.
One of the key contributors to market growth in North America is the increasing prevalence of chronic diseases such as diabetes, heart disease, hypertension, and cancer. According to the Centers for Disease Control and Prevention (CDC), almost 6 in 10 U.S. adults have at least one chronic disease, while 4 in 10 have two or more chronic diseases.
As these diseases typically require long-term drug therapy with multiple medications, this is referred to as "polypharmacy." Smart pill boxes and bottles are perfect for managing complex drug regimens by providing scheduled reminders, dose adherence tracking, and digital alerts for missed or incorrect doses. Smart pill boxes and bottles also play an important role in minimizing complications and hospital readmissions, an essential aim of modern chronic care management.
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Smart Pill Boxes and Bottles Market
