The increasingly hectic lifestyles of people often result in a number of ailments, which creates a strong need for regular medication and therapies for effective cures. On the other hand, such hectic lifestyles, are also a key reason behind the behind the failure to correctly administer the right amount of medication at the right time, adversely affecting the efficacy of the cure.
These are some of the primary reasons why smart pill boxes and bottles are rapidly gaining popularity. Advanced features such as automated re-fill alerts to the local chemist, reminders and alarms, and remote monitoring by healthcare practitioners are also anticipated to be vital for the demand in the smart pill boxes and bottles market in the near future.
Rising Incidences of Chronic Diseases Boosts Demand
Recent times have witnessed an incremental rise to a number of ailments such as hypertension, cardiovascular diseases, and neurological disorders, and cardiovascular diseases such as heart attacks or coronary artery diseases. This has resulted in a steady demand for timely administration of the right dosage of medication.
Growing awareness about health issues, and larger expendable income among consumers is pushing the demand for smart pill boxes and bottles. Moreover, intense competition among manufacturers in the smart pill boxes and bottles market has resulted in the availability of new features for the end user, aiming to increase the quality of care, while reducing the possibility of errors, which is an essentiality for a growing geriatric population.
On the other hand, smart pill boxes and bottles are relatively expensive in comparison to the conventional containers and dispensers used by the pharmaceutical industries, which is anticipated to have restrict the growth of the manufacturers in the market in the years ahead.
Technological Innovations Aimed at Improving Functionalities
Most smart pill boxes and bottles combine the use of a sensor board and central control board, that alerts the users at preset times for taking the appropriate medicine. Alerts can be received in various forms such as phone calls, text messages, alarms, and lights. However, the high competition and steady demand for these devices has boosted the number of innovations that have come out in recent times.
For example, the UK based Denny Bros has made an innovative use of 2D matrix of text or numerical data that is invisible to the naked eye, but is easily identifiable to healthcare authority bodies and officials, which makes it easier for detecting counterfeit products.
Tinylogics Inc. has also revealed its new range of smart pill boxes, that has been designed to be compact enough to fit into the palm of the user’s hand, is capable of being integrated with smart phones and other mobile devices, which enables the recording of the pill intake. The device also uses sensors to gauge if additional doses have been administered, in additional to having GPS positioning capabilities, which alerts the user, if the box is being accidentally left behind.
Similarly, AdhereTech, has also patented a smart pill bottle with a built in mobile phone technology, that sends data to the company’s server, and allows information such as the amount of medicine remaining in the bottle, when the bottle was last used, and the quality of the medication in the bottle, among others. The device makes use of visual and auditory cues to alert the user about forgotten doses.
Reduction in Medicare Costs Pushes Adoption of Smart Pill Dispensing Technology
As per the World Health Organization, over 80 per cent of all people over 60 years of age, are prescribed with medicines that have to be administered daily. Moreover, the non-compliance of prescribed dosages are anticipated to have a major impact on the success rate of any treatment. This issue costs the global healthcare system several billion dollars every year, through the expiry and wastage of medicines, and the added healthcare costs through supplementary healthcare procedures.
Smart pill boxes and bottles can significantly reduce the cost of hospitalization, boosting demand for improved technologies, which is anticipated to add to the growth rate of the smart pill boxes and bottles market for the foreseeable future.
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