An international Digital Pills market report explains better market perspective in terms of product trends, marketing strategy, future products, new geographical markets, future events, sales strategies, customer actions or behaviours. The report also endows with the information, statistics, facts and figures which are very helpful for the companies to maximize or minimize the production of goods depending on the states of demand. Also, the report brings into focus, the more important aspects of the market or Healthcare IT industry. The data involved in the credible Digital Pills market document can be very necessary when it comes to dominating the market or making a mark in the market as a new emergent.
Global digital pills market is estimated to reach USD 0 302.70 million by 2026 registering a substantial CAGR of 7.90% in the forecast period of 2019-2026. This rise in the market can be attributed to the rising prevalence of chronic diseases and the advancements in tracking tools.
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Few of the major market competitors currently working in the digital pills market are Proteus Digital Health., Ostuka Holdings Co., Ltd., 2morrow Inc., Ginger, Puretech Health, Livongo Health, Alivecor, Inc., Welldoc, Inc., Omada Health, Inc., Novartis Ag, Yuza., Abbott, Mocacare, Gentag, Inc., Irhythm Technologies, Inc., Leaf Healthcare, Inc., Perficient, Inc., Olympus Corporation, Bdd Limited, Capsocam Plus, Medtronic, among others.
- Rising Prevalence in chronic diseases stimulates the demand for digital pills, as they are used for the treatment of such diseases
- Decreased expenses from wasted medications
- Faster recovery times from greater adherence to treatment regimens, and quick results boost the growth of this market
- Rising R&D investments as well as technological advancement by manufactures in tracking tools have led to transformation in digital pills
- Increasing prevalence of disease such as diabetes and other cardiovascular disorders and the need for their treatment via controlled dosage
- Smart pills give an exact drug delivery, increased development in endoscopy processes, and monitoring the results of patients irrespective of location are stimulating people people to adopt this technology
- Lack of knowledge pertaining to digital pills hinders the growth during the forthcoming years
Key Developments in the Market:
- In September 2018, Otsuka and Magellan Health together have launched their first digital pill AbilfyMyCite, to treat mental health disorders. It has a Proteus Digital Health sensor embedded in the tablet, wherein all the information is linked and downloaded on a Bluetooth enabled device
- In December 2018, ResMed, a world leading health company in cloud-connected medical devices acquired Propeller Health, a digital therapeutics company that deals the medication problems of people suffering with COPD and asthma. Propellers digital medicines consists of small sensors which are attached to the inhaler pumps of consumers and linked with a mobile app to automatically track medication use and provide immediate response and generate feedback
- In March 2018, -PEAR Therapeutics, the pioneering leader in FDA-cleared prescription digital therapeutic entered into an affirmative agreement with Novartis, a pharma company to develop digital therapeutics for schizophrenia and multiple sclerosis (MS). These digital pills are software applications developed to strategically improve clinical results for patients. This would merge Novartis’ expertise in neurological disorders, clinical development, and commercialization with PEAR’s expertise in prescription digital therapeutic design and implementation
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Segmentation: Global Digital Pills Market
- Cardiovascular Diseases
- Infectious Diseases
By End User
- Home Care Settings
- North America
- South America
- Middle East and Africa
Digital Pills Market Developments in 2019
- In December, via the information from verywellhealth digital magazine, the recent product launch and update are as follows. The appearance of a “smart pill” that is installed with a sensor soon submits a unique way of tracing pill acquiescence. This latest health technology has earned a lot of scientific and media recognition and from the public domain. Technology revealed by Proteus has been suited to other fields of medication. The ingestible sensor gained FDA endorsement previously in 2012. Since then it’s used to compose sensor-enabled pills for uncontrolled hypertension and type two diabetes.
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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 analysed and forecasted 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 enquiry.
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, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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