Adherence monitoring caps are smart bottle caps that stores, dispenses and tracks prescription medication. It is designed for both patients and caregivers. According to the World Health Organization every year 125,000 deaths in US are due to poor patient medication adherence. The adherence monitoring cap connects to your smartphone wirelessly and records and tracks medication usage every time that you open the bottle. The stored data can be transferred easily for immediate analysis and interpretation. These devices are highly compact and portable and can be easily carried in a handbag or pocket.
MARKET SCOPE
The "Global Adherence Monitoring Caps Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the adherence monitoring caps market with detailed market segmentation by type, sales channel, end user, and geography. The report provides key statistics on the market status of the leading adherence monitoring caps market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
? Based on type, the market is segmented as capsule dispenser and liquid dispenser.
? Based on sales channel, the market is segmented as retail and online.
? Based on end user, the market is segmented as hospital, pharmaceuticals, pharmacy and health supplements.
MARKET DYNAMICS
Drivers:
? The market for adherence monitoring caps market is expected to witness growth due to growing integration of smart technology in healthcare, rapid technological advancements in the field of healthcare IT, and rising geriatric population.
? Rising prevalence of diseases like Alzheimer's, schizophrenia and others where medication adherence is important and growing public preference for products inundated with smart technology.
Restraints
? High price of these devices and lack of awareness about this product are concerning the growth of adherence monitoring caps market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The adherence monitoring caps market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the adherence monitoring caps market in these regions.
IMPACT OF COVID-19 ON ADHERENCE MONITORING CAPS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Thus, owing to above mentioned reasons, even adherence monitoring caps market is likely to have negative impact.
MARKET PLAYERS
The report covers key developments in the adherence monitoring caps market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from adherence monitoring caps market are anticipated to lucrative growth opportunities in the future with the rising demand for adherence monitoring caps in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the adherence monitoring caps market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
? Aardex Group
? Pillsy, Inc.
? Dosesmart
? Epill
? Circadian Design, Inc.
? Round Health
? Westrock Company
? Nanthealth, Inc.
? Compliance Meds Technologies, Llc.
? Timercap Llc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.