The global Smart Pill Boxes and Bottles Market size was valued at US$ 144.2 million in 2022, and it is expected to grow to US$ 160.2 million in 2023. Between 2023 and 2033, the market is predicted to increase at a compound annual growth rate (CAGR) of 9.3%, reaching US$ 388.2 million by the end of 2033. Medication adherence has long been a source of concern in the healthcare business, as non-adherence can result in a variety of issues, including death and increased healthcare expenses. Smart Pill Boxes and Bottles, which assist patients take their medication on time and without errors, have piqued the global market’s interest.
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Smart Pill Boxes and Bottles are multi-compartment devices that store medicine doses and help patients stick to their prescription regimes. These devices can improve prescription compliance and adherence by making medicine distribution easier.
The rising prevalence of chronic illnesses, combined with rising healthcare expenses, has increased demand for Smart Pill Boxes and Bottles as a viable solution. Because of the rising senior therapy pool, which is more prone to dementia, the dementia sector is likely to hold a substantial market share. The dementia market expanded at an 11.2% CAGR from 2017 to 2022, and it is expected to increase at a 9.3% CAGR from 2023 to 2033.
According to the World Health Organisation, about 50 million individuals worldwide have dementia, with roughly 60% living in low- and middle-income nations. Every year, around 10 million new instances of dementia are reported, and the estimated proportion of the general population aged 60 and up with dementia is between 5-8%.
North America is the epicentre of the Smart Pill Boxes and Bottles industry, with a sizable market share in 2023. The region’s sophisticated R&D facilities, rising chronic disease incidence, the existence of major market players, and the growing demand for tablets with simple dispensing and easy-to-open systems for the older population are driving market expansion.
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Competitive Landscape
Key Players in the Smart Pill Boxes and Bottles Market are: Adhere Tech, Medipense Inc., Koninklijke Philips N.V., Pillsy, Inc., MedMinder, PharmRight Corporation & Livi, MedReady Inc., e-pill, LLC, DoseSmart Inc, SMRxT INC, Pillo, INC, and Prill Drill, Inc. are a few of the top makers of smart pill boxes & bottles.
The global market for Smart Pill Boxes and Bottles is competitive in nature with only a few large manufacturers. In terms of volume, vendor environment for Smart Pill Boxes and Bottles is fairly consolidated and competitive, with tier-1 manufacturers continuing to account for a majority of the market share.
- Group Medical Supply LLC, e-pill Medication Reminders, Medipense Inc., Medminder, Inc., MedReady, PharmRight Corporation, PillDrill Inc., and Pillo, Inc. hold a significant market share.
- Koninklijke Philips N.V., PharmRight Corporation & Livi, and AdhereTech dominate the Smart Pill Boxes and Bottles market, with product innovation, new releases, and technological improvements driving rivalry among these competitors.
- In November 2020, serial entrepreneur Jonathan Milner, Catapult Ventures, and Shallcross Partners invested GBP 510,000 in Pill Connect, formerly known as Elucid mHealth, for the commercial launch of their electronic smart pill container in the United States and Europe.
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Key Segments Smart Pill Boxes & Bottles Industry Survey
Smart Pill Boxes & Bottles Market by Product:
- Smart Pill Boxes
- Smart Pill Bottles
Smart Pill Boxes & Bottles Market by Indication:
- Dementia
- Parkinson’s Disease
- Cancer Management
- Diabetes Care
- Geriatric Care
- Disability
- Others
Smart Pill Boxes & Bottles Market by End User:
- Seniors Care & Assisted Living
- Long-term Care Centers
- Home Care Settings
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