Dublin, Oct. 11, 2024 (GLOBE NEWSWIRE) -- The "Global Digital Pills Market by Product Type, by Indication, by Distribution Channel, and by Region" report has been added to ResearchAndMarkets.com's offering.
The global digital pills market accounted for USD 4.31 billion in 2023 and is expected to reach USD 21.27 billion by 2034 with a CAGR of 15.62% during the forecast period 2024-2034. The market will increase as a result of the growing need for better medication adherence, technological advancements, a focus on personalized medicine, encouraging government initiatives, and partnerships and collaborations. 
Report Scope
- Base Year: 2023
- Forecast Period: 2024-2034
Study Coverage
- Market Forecast by Product Type, Indication, and Distribution Channel
- Market Forecast for 5 Regions and 17+ Countries
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- Proteus Digital Health
- etectRx
- Pillo Health
- AdhereTech
- Philips Healthcare
- Medtronic
- Bayer AG
- Otsuka Pharmaceutical Co. Ltd.
- BioMotiv
- CapsoVision
- Rani Therapeutics
- Pillsy
- AiCure
Digital Pills Market Analysis & Forecast by Product Type 2023 - 2034 (Revenue USD Bn)
- Tablets
- Capsules
- Microchip
By product type, the tablets segment accounted for the highest revenue-grossing segment in the global digital pills market in 2023 owing to the widespread adoption of chronic disease management solutions and technological advancements in sensor integration. For instance, in November 2023, Philips Healthcare unveiled a new digital pill dispenser with improved connectivity features that allow for tracking adherence and remote medication monitoring.
Additionally, the microchip delivery devices segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for precise drug delivery and advancements in microchip technology.
Digital Pills Market Analysis & Forecast by Indication 2023 - 2034 (Revenue USD Bn)
- Mental Disorders
- Cancer
- Infectious Diseases
- Cardiovascular Disease
By indication, the chronic diseases segment accounted for the highest revenue-grossing segment in the global digital pills market in 2023 owing to the rising prevalence of chronic conditions and the critical need for effective medication adherence. For instance, Medtronic announced in January 2024 the release of its next-generation digital pill technology, which is intended to increase diabetic patients' adherence to their treatment regimens.
Additionally, the infectious diseases segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing incidence of infectious diseases and the need for precise treatment adherence.
Digital Pills Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Hospital Pharmacies
- Retail Pharmacies
- Specialty Pharmacies
- Mail Order Pharmacies
By distribution channel, the specialty pharmacies segment accounted for the highest revenue-grossing segment in the global digital pills market in 2023 owing to the growing demand for personalized medication management and specialized patient care services. For instance, Medtronic announced in January 2024 the release of its next-generation digital pill technology, which is intended to increase diabetic patients' adherence to their treatment regimens.
Additionally, the mail-order pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing preference for convenient home delivery services and the expansion of e-commerce in healthcare.
Digital Pills Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
North American region is anticipated to have the highest revenue share during the forecast period owing to the advanced healthcare infrastructure, high adoption of innovative technologies, and significant investment in healthcare research and development.
Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing healthcare expenditure, rising prevalence of chronic diseases, and rapid adoption of digital health technologies. For instance, Otsuka Pharmaceutical Co., Ltd. reported encouraging outcomes in December 2023 from a clinical study assessing how well their digital pill technology improves medication adherence in schizophrenic patients.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $4.31 Billion |
| Forecasted Market Value (USD) by 2034 | $21.27 Billion |
| Compound Annual Growth Rate | 15.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/bwdct0
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