The Smart Pills Boxes and Bottles market studied is anticipated to grow with a CAGR of nearly 6.1%, during the forecast period. Certain factors that are driving the market growth include rising demand for personalized medicine and minimally invasive procedures, growing burden of chronic disorders and geriatric population, and technological advancements.

The diverse range of diseases, primarily cardiovascular disease, infectious diseases, diabetes, and kidney-related complications, has a high prevalence, globally. Thus, the increasing prevalence of a diverse range of diseases among all age groups and its burden, globally, drives the demand for smart medical technologies and its market.

Globally, cancer is one of the leading causes of death. The disease witnessed significant growth in the last few decades, and it is expected to grow good over the forecast period.

The World Health Organization (WHO) estimates the rate of cancer number to increase to 70% over the next two decades. According to the WHO, cancer is the second leading cause of death globally, and is responsible for an estimated 9.6 million deaths in 2018. Globally, about 1 in 6 deaths is due to cancer. Approximately 70% of deaths from cancer occur in low- and middle-income countries. Additionally, the increased burden of several lifestyle disorders is also expected to drive the market.

Key Market Trends

Geriatric Care is Expected to Hold Significant Share in the Global Smart Pills Boxes and Bottles Market

As per the revised World Population Prospects, by the United Nations, the number of people aged 60 or above is expected to grow greater than double by 2050, i.e. from 962 million in 2017 to 2.1 billion in 2050, globally. This age group is highly vulnerable to different types of age-related diseases that require medication aid.

Moreover, the increasing prevalence of debilitating neurological diseases, rheumatoid arthritis, and osteoarthritis has been contributing to the increased percentage of the population with a need for properly assisted medication.

Therefore, as the geriatric population is growing, the demand for smart pill boxes and bottles is also rising across the globe.

North America is Expected to Dominate the Global Smart Pills Boxes and Bottles Market

North American dominates the market primarily due to the advanced research and development facilities mainly across the United States and Canada. In addition, the rising prevalence of various chronic conditions is also fueling the market growth across the region.

The United States has witnessed a considerable rise in the number of cancer patients. According to the American Cancer Society, in 2019, there will be approximately 140,690 cancer cases diagnosed and about 103,250 cancer deaths among the oldest old in the US. Cancer in the oldest old accounts for 8% of all cases diagnosed in the US but 17% of all cancer deaths. Prostate and breast cancers are the most prevalent forms of cancer in the region.

However, the Asia-Pacific market is anticipated to witness the highest growth during the forecast period, due to increasing healthcare expenditure.

Competitive Landscape

The global Smart Pills Boxes and Bottles market is competitive and consists of a few major players. Companies like e-pill Medication Reminders, Group Medical Supply LLC, Medipense Inc., Medminder, Inc., MedReady, PharmRight Corporation, PillDrill Inc., Pillo, Inc., among others, hold the substantial market share in the market.

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