The global Smart Medication Adherence Sensor Market is projected to grow at a CAGR of 19.8% during the forecast period 2022 to 2030.

Smart Medication Adherence Sensor Market Overview:

Medication non-adherence is a widespread problem, in which patients do not follow the medication schedule and, if fatal, delay or fail to cure a potentially fatal disease. For best treatment results, the dosing schedule must be followed. No adherence increases healthcare costs as a result of disease-related complications, and to overcome this problem, many companies are focusing on developing smart medication adherence sensors.

Smart medication adherence sensors are often provided with systems that follow patient-specific medication schedules. Smart medication adherence sensors are useful for patients living in assisted living facilities or older patients who often fail to recall their medication schedule. Various companies are manufacturing medications fixed in smart medication adherence sensors for better dosage monitoring. Smart medication adherence sensors help not only track doses, but also detect physiological responses such as activity, heart rate, dose timing, skin temperature and rest.

Significant Smart Medication Adherence Sensor Market Dynamics and Growth Factors:

About 50% of prescription drugs remain unadministered, which impacts health care costs as well as therapeutic effectiveness of drugs, indicating significant market potential for smart medication adherence sensors. Smart medication compliance sensor technology helps monitor whether patients are taking oral medications or medical injections at home or in facilities. Data is automatically uploaded so providers can be reviewed and tracked in real time. This multidimensional approach is driving the smart medication adherence sensor market growth. The world's aging population is expected to increase by 250% by 2050 compared to 2013, and old age brings many health complications, so smart medication adherence sensors can play a key role in maintaining a healthy elderly population. The smart medication adherence sensor market is growing at the fastest pace currently possible due to rapidly advancing technologies in the field and the prevalence of chronic diseases that require frequent patient monitoring.

The Smart Medication Adherence Sensor market research report is categorized based on type, applications and region.

Market Key Players:
nGageIT Digital Health Solutions, Schreiner MediPharm, PillDrill, Inc., HealthPrize Technologies, AdhereTech, Koninklijke Philips N.V., McKesson Corporation, Johnson & Johnson Services, Inc., and others.

Industry News:

• In 2021, Phillips-Medisize announced the launch of a new smart medication adherence sensor called Connected Health Platform. This device is designed to help patients with chronic conditions manage their medication schedules and improve medication adherence.
• In 2020, Catalia Health announced the launch of a new smart medication fulfillment robot called Mabu. The device is designed to provide personalized interaction with patients and help patients manage their medication schedule.
• In 2019, Omron Healthcare announced the release of a new smart medication adherence sensor called VitalSight. This device is designed to help hypertensive patients manage their medication schedules and improve medication adherence.
• In 2018, Proteus Digital Health announced that it had received FDA approval for a smart medication adherence sensor called Proteus Discover. This device is designed to help patients with a variety of chronic conditions manage their medication schedules and improve medication adherence.
• In 2017, Phillips-Medisize acquired Medicom Innovation Partner, a leading provider of smart medication adherence sensors. With this acquisition, Phillips-Medisize expands its portfolio of connected health solutions and strengthens its position in the smart medication adherence sensor market.

By Type:

• Hardware Centric Smart Medication Adherence Sensors
• Software Centric Smart Medication Adherence Sensors

By Application:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

By Region:

Geographically, the global Smart Medication Adherence Sensor market has been analysed in several regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA).

North America is the most lucrative smart medication adherence sensor market owing to higher product penetration and greater patient adoption. Europe is projected to be the second most lucrative smart medication adherence sensor market owing to rapid population aging and relatively high healthcare spending.
The Latin American smart medication adherence sensor market is expected to witness steady growth owing to improved treatment seeking rates and increasing adoption of advanced monitoring methods. Asia Pacific is regarded as an emerging smart medication adherence sensor market owing to emerging economies such as India and China along with cost-effective product manufacturing. MEA remains the least profitable smart medication adherence sensor market due to the lowest adoption rate.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Smart Medication Adherence Sensor Market report scope

Report Attributes	Details
Growth Rate	CAGR of 19.8% from 2022 to 2030.
By Type	Hardware Centric Smart Medication Adherence Sensors, Software Centric Smart Medication Adherence Sensors
By Application	Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
By Companies	nGageIT Digital Health Solutions, Schreiner MediPharm, PillDrill, Inc., HealthPrize Technologies, AdhereTech, Koninklijke Philips N.V., McKesson Corporation, Johnson & Johnson Services, Inc.
Regions and Countries Covered	North America: (US, Canada, Mexico, Rest of North America) Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe) Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific) The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa) Latin America(Brazil, Argentina, Rest of Latin America) Rest Of the World
Base Year	2022
Historical Year	2017 to 2022
Forecast Year	2023 to 2030

 

Key Takeaways from this Smart Medication Adherence Sensor Report

• Estimate Smart Medication Adherence Sensor market potential through analysing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
• Get a quick viewpoint on the Smart Medication Adherence Sensor market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.

Frequently Asked Questions

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