The global Smart Pill Boxes & Bottles market was valued at xx million US$ 144.2 Mn in 2022 and will reach xx million US$ 254.7 Mn by the end of 2028, growing at a CAGR of 9.9% during 2022-2028.
This report focuses on Smart Pill Boxes & Bottles volume and value at the global level, regional level and company level. From a global perspective, this report represents overall Smart Pill Boxes & Bottles Market Size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.
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Smart pill boxes and bottles are increasingly being perceived as a potential solution to such challenges posed by increased healthcare delivery costs. Significance of medication adherence continues to rise with increasing prevalence of chronic conditions, propelling demand for smart pill boxes and bottles.
Dementia and geriatric care remain the key application areas of smart pill boxes and bottles, according to the report. More than 80% of sales is accounted by aging patients and dementia-afflicted population. Cancer management is likely to emerge lucrative in terms of applicability in coming years.
With surging demand for high-quality healthcare delivery, senior care centers, hospitals, long-term care centers, and homecare settings are accelerating adoption of medication dispensers, thereby elevating the revenue growth of smart pill boxes and bottles market. Some of the leading companies are actively involved in the development of advanced technology medication dispensing devices with zero error risks during medication.
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North America continues to reign supreme owing to early adoption of advanced technology enabled smart pill boxes and bottles, accounting for more than a third of the global market revenue. European market for smart pill boxes and bottles also represents a substantial volume share, majorly driven by German patients. South and East Asian regions are briskly developing high-potential markets for manufacturers and distributors of smart pill boxes and bottles, says the report.
The vendor landscape of smart pill boxes and bottles market remains fairly consolidated and competitive, as Tier 1 manufacturers continue to account for a majority of share in the market in terms of volume. While dominance of Koninklijke Philips N.V., PharmRight Corporation & Livi, and AdhereTech prevails in smart pill boxes and bottles market, the report finds that the competition among these players is characterized by product innovation, new launches, and technological advancements.
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Key Market Segments Covered:
- Drug Class
- Route of Administration
- Dosage Form
- Distribution Channel
Competitive Landscape for Smart Pill Boxes & Bottles Market:
- Adhere Tech
- Koninklijke Philips N.V.
- PharmRight Corporation & Livi
- Medipense Inc.
- MedReady Inc.
- Pillsy, Inc.
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