Report Description

Global Medication Adherence Devices market is anticipated to witness impressive growth during the forecast period. This can be ascribed to the growing programs and initiatives organized to educate people about the significance of medical adherence. Also, the growing aging population, increasing development of healthcare expenditure, and rising usage of pharmaceuticals are expected to create significant growth during the forecast period. Similarly, the growing prevalence of cardiovascular diseases is the major factor fuelling the growth of the market over the years. Additionally, the high frequency non-adherence to medication among cardiac patients has resulted in demand for medical adherence devices in the forecast period. Due to the extensive research and development (R&D) expenditures, expanding healthcare costs can boost the growth of the market. According to the US Centers for Disease Control and Prevention (CDC), 7 out of the 10 major causes of death in 2019 in the US were chronic illnesses. Among the various chronic diseases, heart diseases and cancer together accounted for nearly 46% of all deaths in the US in 2019.

Growing Prevalence of Cardiovascular Diseases

Most often, chronic diseases require a long therapeutic intervention by using high-dose drugs and any interruption in the medication intake can create fatal consequences which need strict medication adherence and will further boost the growth of the market during the forecast period. Cardiovascular diseases are one of the major chronic diseases across the world. Coronary heart syndrome, cerebrovascular diseases, rheumatic heart diseases, and other illnesses are among the most commonly observed cardiovascular diseases. According to the World Health Organization (WHO), 32% of all deaths across the globe i.e., 17.9 million people die due to CVD every year. Furthermore, the increasing geriatric population is susceptible to heart defects due to progressive deterioration in the structure and function of the heart, which largely contributes to the high burden of CVDs; thereby triggering the increased adoption of advanced medication adherence during the forecast period. Due to genetic factors, environmental factors, the oxidative stress heart diseases are increasing rapidly. The improvement of chronic diseases necessitates clinical intervention, which is accomplished by increasing the participation of patient-centric medication adherence programs, fuelling the expansion of the global medication adherence devices market.

Growing Demand for Advanced Medication Adherence

The growing demand for advanced medication adherence systems is driving the medication adherence devices market growth in the forecast period. The healthcare ecosystem is fragmented across the globe by the availability of a huge number of decision makers for the diagnosis and treatment and  the management of individual patients suffering from chronic diseases. The growing coordination among healthcare professionals and patients has enhanced the quality of care and its cost, as it leads to the fragmentation of healthcare information such as medical history, patient demographics, billing, diagnosis and administrative data, and this in turn is expected to boost the growth of the market over the years.  

 

Growing Awareness about Medication Adherence

The growing awareness of medication adherence, on account of the patient-saving programs being initiated, is a major factor fuelling the growth of the medication adherence devices market in the forecast period. Medication adherence programs help in improving patient compliance. Medical adherence also aids pharmacists in identifying patients missing out on the timely intake of medicines. Besides, various government and non-government organizations are sponsoring events and conferences to educate patients and caregivers about medication adherence thereby driving the market growth over the years. For instance- ESPACOMP has announced that they will organize its 26th annual conference from 17th to 19th November 2022 in Berlin (Germany) and the theme of this year's conference will be: "Medication Adherence and Patient Safety." Governments and non-government organizations sponsor conferences and events across the year to tutor patients and caregivers regarding medication adherence.

 



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Market Segmentation

Global Medication Adherence Devices market can be segmented by type, medication, region and competitional landscape. Based on the type, the market can be divided into hardware centric and software centric. Based on medication, the market can be segmented into cardiovascular, central nervous system, diabetes, oncology, gastrointestinal, musculoskeletal, and others. Regionally, North America dominated the market among Asia Pacific, Europe, Middle East & Africa, and South America. Among the different countries, the United States dominatesthe global medication adherence devices market on account of the increasing prevalence of cardiovascular diseases in the country.

 

Market Players

Becton, Dickinson, and Company (CareFusion)., DrFirst.com,Inc. , AdhereTech Inc., MedMinder., CareDose., Fruitech Ltd., PHC Holdings Corporation., MedAdvisor International Pty Ltd. are some of the leading players operating in the Global Medication Adherence Devices Market.

 

Recent Development

  • In November 2018, AdhereTech Inc., announced receiving investment from Argentum Group. The company stated that with this new financing it would be increasing its pharmacy and pharmaceutical partnerships and expand into more healthcare verticals.
  • September 2021: Curant Health and Humana Inc. teamed up to help in achieving better health outcomes for Humana members suffering from Chronic Obstructive Pulmonary Disease (COPD) and Chronic Heart Failure (CHF). The novel pilot program, aimed at refining medication adherence to help patients lead healthier lives and eventually help lessen health care costs, offers inclusive support for members suffering from complex health conditions and prescription medication needs.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

By Type

By Medication

By Region

Regional scope

North America; Europe; Asia Pacific; South America; Middle East & Africa

Country scope

United States; Canada; Mexico; France; Germany; United Kingdom; Italy; Spain; China; India; Japan; South Korea; Australia; Brazil; Argentina; Colombia; South Africa; Saudi Arabia; UAE

Key companies profiled

Becton, Dickinson, and Company (CareFusion)., DrFirst.com,Inc. , AdhereTech Inc., MedMinder., Caredose., Fruitech Ltd., PHC Holdings Corporation., MedAdvisor International Pty Ltd.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, Global Medication Adherence Devices market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

      ·         Medication Adherence Devices Market, By Type:

o      Hardware Centric

o      Software Centric

      ·         Medication Adherence Devices Market, By Medication:

o      Cardiovascular

o      Central Nervous System

o      Diabetes

o      Oncology

o      Gastrointestinal

o      Musculoskeletal

o      Others

      ·         Medication Adherence Devices Market, By Region:

o      North America

§  United States

§  Canada

§  Mexico

o      Europe

§  France

§  Germany

§  United Kingdom

§  Italy

§  Spain

o      Asia Pacific

§  China

§  India

§  Japan

§  South Korea

§  Australia

o      South America

§  Brazil

§  Argentina

§  Colombia

o      Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Medication Adherence Devices Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Global Medication Adherence Devices Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Voice of Customer

5.    Global Medication Adherence Devices Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.     By Type (Hardware Centric v/s Software Centric)

5.2.2.     By Medication (Cardiovascular, Central Nervous System, Diabetes, Oncology, Gastrointestinal, Musculoskeletal, Others)

5.2.3.     By Region (North America, Europe, Asia Pacific, South America, Middle East & Africa)

5.2.4.     By Company (2022)

5.3.  Market Map

5.3.1 By Type

5.3.2 By Medication

5.3.3 By Region

6.    North America Medication Adherence Devices Market Outlook

6.1.  Market Size & Forecast          

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Type (Hardware Centric v/s Software Centric)

6.2.2.     By Medication (Cardiovascular, Central Nervous System, Diabetes, Oncology, Gastrointestinal, Musculoskeletal, Others)

6.2.3.     By Country

6.3.  North America: Country Analysis

6.3.1.     United States Medication Adherence Devices Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Value

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Type

6.3.1.2.2.             By Medication

6.3.2.     Canada Medication Adherence Devices Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Value

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Type

6.3.2.2.2.             By Medication

6.3.3.     Mexico Medication Adherence Devices Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Value

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Type

6.3.3.2.2.             By Medication

7.    Europe Medication Adherence Devices Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Type (Hardware Centric v/s Software Centric)

7.2.2.     By Medication (Cardiovascular, Central Nervous System, Diabetes, Oncology, Gastrointestinal, Musculoskeletal, Others)

7.2.3.     By Country

7.3.  Europe: Country Analysis

7.3.1.     France Medication Adherence Devices Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Type

7.3.1.2.2.             By Medication

7.3.2.     Germany Medication Adherence Devices Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Type

7.3.2.2.2.             By Medication

7.3.3.     United Kingdom Medication Adherence Devices Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Type

7.3.3.2.2.             By Medication

7.3.4.     Italy Medication Adherence Devices Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Type

7.3.4.2.2.             By Medication

7.3.5.     Spain Medication Adherence Devices Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Type

7.3.5.2.2.             By Medication

8.    Asia-Pacific Medication Adherence Devices Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Type (Hardware Centric v/s Software Centric)

8.2.2.     By Medication (Cardiovascular, Central Nervous System, Diabetes, Oncology, Gastrointestinal, Musculoskeletal, Others)

8.2.3.     By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.     China Medication Adherence Devices Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Type

8.3.1.2.2.             By Medication

8.3.2.     India Medication Adherence Devices Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Type

8.3.2.2.2.             By Medication

8.3.3.     Japan Medication Adherence Devices Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Type

8.3.3.2.2.             By Medication

8.3.4.     South Korea Medication Adherence Devices Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Type

8.3.4.2.2.             By Medication

8.3.5.     Australia Medication Adherence Devices Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Type

8.3.5.2.2.             By Medication

9.    South America Medication Adherence Devices Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Type (Hardware Centric v/s Software Centric)

9.2.2.     By Medication (Cardiovascular, Central Nervous System, Diabetes, Oncology, Gastrointestinal, Musculoskeletal, Others)

9.2.3.     By Country

9.3.  South America: Country Analysis

9.3.1.     Brazil Medication Adherence Devices Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Type

9.3.1.2.2.             By Medication

9.3.2.     Argentina Medication Adherence Devices Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Type

9.3.2.2.2.             By Medication

9.3.3.     Colombia Medication Adherence Devices Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Type

9.3.3.2.2.             By Medication

10.  Middle East and Africa Medication Adherence Devices Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Type (Hardware Centric v/s Software Centric)

10.2.2.  By Medication (Cardiovascular, Central Nervous System, Diabetes, Oncology, Gastrointestinal, Musculoskeletal, Others)

10.2.3.  By Country

10.3.              MEA: Country Analysis

10.3.1.  South Africa Medication Adherence Devices Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Type

10.3.1.2.2.           By Medication

10.3.2.  Saudi Arabia Medication Adherence Devices Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Type

10.3.2.2.2.           By Medication

10.3.3.  UAE Medication Adherence Devices Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Type

10.3.3.2.2.           By Medication

11.  Market Dynamics

11.1.              Drivers

11.2.              Challenges

12.  Market Trends & Developments

12.1.              Recent Development

12.2.              Mergers & Acquisitions

12.3.              Product Launches

13.  Global Medication Adherence Devices Market: SWOT Analysis

14.  Porter’s Five Forces Analysis

14.1.              Competition in the Industry

14.2.              Potential of New Entrants

14.3.              Power of Suppliers

14.4.              Power of Customers

14.5.              Threat of Substitute Products

15.  Competitive Landscape

15.1.              Business Overview

15.2.              Product Offerings

15.3.              Recent Developments

15.4.              Financials (As Reported)

15.5.              Key Personnel

15.6.              SWOT Analysis

15.6.1.  Becton, Dickinson, and Company (CareFusion)

15.6.2.  DrFirst.com,Inc.

15.6.3.  AdhereTech Inc.

15.6.4.  MedMinder.

15.6.5.  Caredose.

15.6.6.  Fruitech Ltd.

15.6.7.  PHC Holdings Corporation.

15.6.8.  MedAdvisor International Pty Ltd.

16.  Strategic Recommendations

Figures and Tables

Frequently asked questions

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The rising prevalence of chronic diseases such as cardiovascular diseases and the rise in investments in research and development in the health care sector for the development of new advanced technologies are some of the major factors driving the growth of the Global Medication Adherence Devices Market.

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Becton, Dickinson, and Company (CareFusion), DrFirst.com,Inc. , AdhereTech Inc., MedMinder., CareDose., Fruitech Ltd., PHC Holdings Corporation., MedAdvisor International Pty Ltd. are some of the leading players operating in the Global Medication Adherence Devices Market.

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Software Centric is expected to dominate the Global Medication Adherence Devices Market during the forecast period due to growing demand for easy-to-use applications for tracking patient treatment data.

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North American region is expected to hold the largest share in the Global Medication Adherence Devices Market due to the growing prevalence of chronic diseases.

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Sakshi Bajaal

Business Consultant
Press Release

Medication Adherence Devices Market to be Dominated by Software Centric through 2028

Feb, 2023

The increasing incidence of chronic diseases is expected to drive the growth of Global Medication Adherence Devices Market in the forecast period, 2024-2028.