Smart Medicine Bottles Market Scope
Internet of Things (IoT) gadgets and new sensors with ubiquitous intelligence give creative solutions for a number of health concerns. Unintentional child poisoning is becoming a major public health concern across the world, owing in part to an increase in the use of medicines and dietary supplements. Although child-resistant bottle caps have undoubtedly saved many lives, they are not failsafe and do not provide parents and caregivers with warnings when children attempt to open the bottles. Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs) use smart pill dispensing technology to track medication adherence in clinical trials.
The Smart Medicine Bottles market study is segmented by Type (Smart Pill Boxes, Smart Pill Bottles and Others) and major geographies with country level break-up.
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Smart Medicine Bottles market throughout the predicted period.
Koninklijke Philips N.V. (Netherlands), Group Medical Supply LLC (United States), Medipense Inc. (Canada), Medminder, Inc. (United States), MedReady (United States), PharmRight Corporation (United States), PillDrill Inc. (United States), Pillo, Inc. (United States), e-pill Medication Reminders (United Kingdom), Pill Connect (United States) and AdhereTech. (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
AMA Research has segmented the market of Global Smart Medicine Bottles market by Type, Application and Region.
On the basis of geography, the market of Smart Medicine Bottles has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
On 2nd May, 2017 - Pillsy Launched its First Smart Pill Bottle and Mobile App Available for Purchase Online. The New Pillsy Application Features Modern Design, Technology and A Seamless User Experience, Its Assists Consumers to Recall and Track Their Vitamins and Medication Through Sensing Technology. and On 16th November, 2020 - Pill Connect Acquired £0.5 Million Funding Channeled to Develop Electronic Smart Pill Bottle That Monitors Patient Adherence. The Pill Connect System Physically Dispenses a Pill When Patients Respond to An App Reminder with Prompts by Text or Phone If Pill Is Not Dispensed
Market Trend
- Emergence of Advance AI Enabled Smart Bottles
Market Drivers
- Prevalence of Chronic Disease and Infections
- Rising Geriatric Population
Opportunities
- Increasing Demand Across Western Regions
Restraints
- Technological Limitations
Challenges
Key Target Audience
Smart Medicine Bottles Manufactures, New Entrants and Investors, Smart Medicine Bottles Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others