Digital pills are capsules containing sensors which provides which send wireless messages to various devices such as smartphones, tablets and other, outside the patient’s body to track dosage intake. In November 2017, the U.S. Food & Drug Association (FDA) approved the first digital pill in the U.S. to treat Schizophrenia, bipolar disorder, and major depressive disorder. This type of technology will help patients and doctors track drug regimen compliance and increase patient adherence. Major players are focusing on the developed region due to its purchasing power.
Global digital pills market is segmented by indicated disorders and end-users.
By indicated disorders, the market is segmented into tracking ingestion in schizophrenia patients, tracking ingestion in bipolar patients and adjunctive treatment of the major depressive disorder (MDD) in adults. Prevalence of schizophrenia is high over the globe so this segment is expected to grow at highest CAGR during forecasted period By end-users, the digital pills market is segmented into hospitals, clinic, and home care settings.
Geographically, the global digital pills market is segmented into four regions including North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
North America digital pills market is likely to gain major market shares on account presence of key players in the region. High healthcare expenditure in the region. The U.S. FDA approved this drug for schizophrenia, bipolar disorder. Moreover, growing applications in cancer and other diseases for digitals pills hold great opportunities in future for the market. According to the American Addiction Center, in the U.S. around 3 million people suffered from schizophrenia in 2018. Increasing prevalence of Schizophrenia, Bipolar Disorder, and major depressive disorders are likely to support market growth.
Europe is expected to gain healthy market share of the digital pills market globally.
Asia Pacific is anticipated to show lucrative growth in the digital pills market in forecast period 2019–2026.
LAMEA holds least share of the market owing to its poor healthcare infrastructure.
Some of the key players in the global digital pills market are Proteus Digital Health, Inc, Intellicap, Microchips Biotech, Inc, Metronic, CapsoVision, Livongo Health, AliveCor Inc, WellDoc Inc, Omada Health Inc, Novartis AG, Abbott, Mocacare, Gentag Inc., iRhythm Technologies Inc, Leaf Healthcare Inc, and Perficient Inc.