Global Pill Reminder & Medication Tracker Market Size, Trends & Analysis - Forecasts to 2026 By Product Type (Digital Reminder Device/Case, Online Pharmacy Service, and Mobile App) By Type of Subscription (Monthly & Yearly Service Charge, and One-Time Charge), By Type of O.S (Android and iOS), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis, and Competitor Analysis
Old age, Alzheimer’s, mental health, and other disorders have led many patients to lose track of their medications and pills. In 2017, a study conducted by the WHO stated that more than 65-70% of the adults in the US forget to keep a track of their medication annually. Moreover, more than 45% of the US population requires at least one prescription drug within a month. The phenomenon known as medication non-adherence is a concept where the patient's post the prescription lacks to follow the medication and ultimately hampers his/her health.
Due to the advent of mobile apps in the health & fitness industry, point of care management of geriatric patients has become easier. Pill reminder and medication tracker apps are such apps that come under the horizon of the telehealth category.
The pill reminder and medication tracker market include products, devices, apps, and software that suffice the need for medication tracking. The devices not only track the medications but maintain patient medical data, offer refill reminders, provide seamless dose tracking, drug overdose monitoring, with the support of an intelligent reminder system. The increasing chronic disease, rising prevalence of mental disorders, increasing geriatric patient population, increasing awareness regarding smart devices to track medication, increasing government initiatives to support research activities related to smart device development, and rising number of innovative product launches will boost the market growth from 2021 to 2026.
Based on the type of products available for medication tracking, the market can be segmented into digital reminder devices/cases, online pharmacy service, and mobile app. The digital reminder devices will be the largest segment in the market owing to increasing awareness of smart devices amongst patients to track their medications, increasing number of product launches.
Based on the payment option, the software market is segmented into the monthly & yearly service charge, and one-time service charge. The one-time service charge segment will be the fastest-growing segment owing to the increasing demand for smart devices that can track and maintain patient medical records. Moreover, due to the innovativeness of these devices such as wearable tracking devices, portable smart digital devices, and smart app, the market is witnessing a rising adoption for such products leading to one-time payment purchases.
Based on the operating system used for smart apps, the market is segmented into android and iOS systems. Owing to the huge penetration power of android phones in the developing nations, the market for the same will be growing faster than the latter one.
Owing to the increasing geriatric patient population, rising awareness regarding smart tracking devices and the increasing number of the innovative product launch in the US, the market for North America will be the dominant segment in the market from 2021 to 2026. However, due to increasing mental health disorders, Alzheimer’s, and geriatric population, the market for the Asia Pacific will grow the fastest. Moreover, due to the increasing usage of smart apps and android based phones, the market is definitely on the rise.
TabTime Timer, e-pill TimeCap & Bottle, PillPack, MedMinder, Medisafe, CareZone, Takeaway, Mango Health, BedSide Reminder, MedPlan, MyTherapy, Sagely, Simple Calendar Pro, Life Reminders, MedCenter Systems LLC, PillDrill, Pillsy, PillTracker, Leap, and Popit among others are the players of the market.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Pill Reminder & Medication Tracker Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Pill Reminder & Medication Tracker Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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