Digital Pills Market to Reach US$6.91 Billion by the End of 2029
Global Digital Pills Market report offers a better solution for refining the business strategies to thrive in this competitive marketplace. A number of trustworthy sources such as journals, websites, and annual reports of the companies, white papers, and mergers have been referred for assembling the data and information mentioned in this industry report. Information and data provided through this industry analysis document can be very decisive for the HEALTHCARE industry when it comes to dominating the market or creating a mark in the market as a new emergent. The research study performed in the realistic Global Digital Pills Market business report also helps to understand the various drivers and restraints impacting the market during the forecast period.
Incorporating medical devices, innovative drugs, and advanced technologies are expected to increase the market majorly. Medication or prescription compliance is a great issue for mentally ill patients. Several elderly individuals find it difficult to keep track of medications simply because they forget to take them. Oral chemotherapy compliance could benefit majorly 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.
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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.
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.
The Prominent Key Players Operating in the Global Digital Pills Market Include:
- B. Braun Melsungen AG (Germany)
- 2morrow Inc. (U.S.)
- Otsuka Holdings Co., Ltd. (Japan)
- Pure Tech (U.S.)
- Teladoc Health, Inc. (U.S.)
- AliveCor, Inc.(U.S.)
- Abbott (U.S.)
- Olympus Corporation (Japan)
- Medtronic (Ireland)
- Smith+Nephew (U.K.)
- Novartis AG (Switzerland)
- Omada Health Inc. (U.S.)
- Mocacare (California)
- GENTAG, Inc. (U.S.)
- Zio by iRhythm Technologies, Inc. (U.S.)
- Perficient Inc. (U.S.)
- BDD Ltd (U.K.)
- CapsoVision, Inc. (U.S.)
- Ginger (U.S.)
- Teladoc Health, Inc. (U.S.)
- Welldoc, Inc. (U.S.)
To Gain More Insights into the Market Analysis, Browse the Summary of the Research Report@ https://www.databridgemarketresearch.com/reports/global-digital-pills-market?Shri
Digital Pills Market Scope
Product Type
- Tablet
- Capsule
- Microchip Delivery Device
On the basis of product type, digital pills market is segmented into tablet, capsule and microchip delivery device.
Indication
- Mental Disorders
- Cancer
- Infectious Diseases
- Others
Based on indication, the digital pills market is segmented into mental disorders, cancer, infectious diseases and others.
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Specialty Pharmacies
- Mail Order Pharmacies
Based on distribution channel, the digital pills market is segmented into hospital pharmacies, retail pharmacies, specialty pharmacies and mail order pharmacies.
Diseases
- Cardiovascular Diseases
- Infectious Diseases
- Diabetes
- Cancer
- Others
Based on diseases, the digital pills market is segmented into cardiovascular diseases, infectious diseases, diabetes, cancer and others.
End-User
- Hospitals
- Clinics
- Home Care Settings
- Others
On the basis of end user, the digital pills market is segmented into hospital, clinics, home care settings and others.
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
Fundamental Aim of this Market Report
- Notable Market rivals around the world.
- Future Scope and Product Outlook
- Future-promising emerging markets.
- The Market Presents Difficult Challenges and Threats.
Key highlights of this Market report:
- Major restraints
- Market drivers
- Regional bifurcation
- Competitive hierarchy
- Current market tendencies
- Market concentration analysis
Browse the complete table of contents at – https://www.databridgemarketresearch.com/toc/?dbmr=global-digital-pills-market&Shri
| REPORT METRIC | DETAILS |
| Forecast Period | 2022 to 2029 |
| Base Year | 2021 |
| Historic Years | 2020 (Customizable to 2019 – 2014) |
| Quantitative Units | Revenue in USD Billion, Volumes in Units, Pricing in USD |
| Segments Covered | 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) |
| Countries Covered | 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. |
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- Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in this market
- Value chain analysis of prominent players in the market
- Current trends influencing the dynamics of this market across various geographies
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- Revenue growth of this industry over the forecast period
- Marketing strategy study and growth trends
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- Emerging recess segments and region-wise market
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- Ancient, Present, and Probable scope of the market from both prospect value and volume
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