2020-2027 Analysis and Review Medication Telemanagement Devices Market

Medication Telemanagement Devices Market

Medication Telemanagement Devices Market By Product (Connected Sensors and Integrated Connected Devices), By End User (Healthcare Providers and Homecare Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2027

09-02-2020 REP-HC-5031 40 Tables 117 pages Format

The medication telemanagement devices market was valued at USD201.1 Mn by 2019. Rising prevalence of lifestyle disorders and a significant increase in the number of patients non-adherent to prescription together drive the medication telemanagement devices market. Technological advancement in the medication telemanagement devices further ensures the accurate drug delivery and dosage of vital medicines.

 Medication Telemanagement Devices Market

In the last 2 decades there has been a significant rise in the IT-healthcare companies diligently striving to provide excellent medical services to patients and critical aid to healthcare providers worldwide. The ergonomic features associated with medication telemanagement devices such as miniaturization, low-cost processing power, ruggedized sensors, big data storage, encryption capabilities significantly increase its demand among the pharmaceutical and biotechnology industries. The constant rise in the adoption of smartphones and healthcare applications by patients and health enthusiasts throughout the globe accentuates the medication telemanagement devices market growth.

The major segments related to the medication telemanagement devices market are:

By Product (2017–2027; US$ Mn)

Connected Sensors

Connected Inhaler Sensors

Connected Injection Sensors

Integrated Connected Devices

Integrated Inhalation Devices

Integrated Injection Devices

Pill Boxes 

By End User (2017–2027; US$ Mn)

Healthcare Providers

Homecare Centers 

Geography Segment(2017–2027; US$ Mn)

North America

United States
Canada

Europe

United Kingdom
Germany
Rest of Europe

Asia Pacific

China
Japan
Rest of Asia Pacific

Latin America (LATAM)

Brazil
Mexico
Rest of Latin America

Middle East and Africa (MEA)

GCC
Rest of MEA 

Justification for study?

  • The intention of the study is to give a comprehensive outlook of the global medication telemanagement devices market
  • The overall segmentation of the medication telemanagement devices market, by product, end user and geography is minutely studied. Connected sensors and healthcare providers are dominating the product and end-user segments respectively
  • A constant increase in the number of cases of non-adherence to prescribed medications and rising prevalence of chronic disease together drive the medication telemanagement devices market
  • Growing adoption of smartphones and healthcare applications to further consolidate the medication telemanagement devices market

Report gist?

  • The study of the global medication telemanagement devices market includes qualitative analysis of factors such as drivers, restraints, and opportunities
  • The report covers qualitative and quantitative analysis of the overall market segmented on the basis of product and end-user and categorization of the same at geography level
  • This research report presents the analysis of each segment from 2017 to 2027 considering 2019 as the base year for the research. CAGR for each respective segments are calculated for the forecast period from 2020 to 2027
  • The study includes the profiles of major market players with a significant global and regional presence along with top company positioning 

Significant customers?

  • This study is suitable for industry participants and stakeholders in the medical device manufacturers engaged in manufacturing and marketing of medication telemanagement devices which is gaining huge demand on account of the rising prevalence of chronic diseases and non-adherence to prescribed medications
  • The report will benefit healthcare providers to meet the medical necessities of patients
  • Managers with financial institutions looking to publish recent and forecasted statistics pertaining to medication telemanagement devices market
  • Financial institutions venture capitalist, analysts, investors, government organizations, policymakers, regulatory authorities, researchers, looking for insights into the market to determine future strategies

Segment Analysis

Connected sensors are holding the largest market share in the product segment for medication telemanagement devices market. They are primarily add on devices that can be installed in the drug delivery devices to effectively monitor drug dosage and delivery and accurately maintain patients health records. Furthermore, the low cost associated with the sensors is vital in improving the patient compliance to prescribed medication. Integrated connected devices are going to be the fastest-growing segment during the forecast period due to its capability to synchronize with technology such as Bluetooth and near field communication etc. Additionally, its ability to provide advanced sensing options and significant increase in the number of new market entrants will further decrease the cost price and adoption of integrated connected systems in the medication telemanagement devices.

The healthcare providers segment is spearheading the end-user segment for the medication telemanagement devices market. A significant rise in the number of patient’s non-adherence to prescription and rising prevalence of lifestyle disorder requiring daily intake of medicines determines the healthcare providers' market growth. It is anticipated that the homecare centers are going to register rampant market growth in the near future owing to the increasing adoption of smartphones and healthcare applications by health enthusiasts and increasing healthcare cost burden associated with the treatment of lifestyle disorders requiring the daily intake of medication.

North America is presently dominating the geography segment for the medication telemanagement devices market. Rising prevalence of chronic diseases and significant rise in the number of non-adherence to prescription cases primarily determine the medication telemanagement devices market. The presence of key players such as BIOCORP, Insulet Corporation, Abiogenix, Adherium Limited, etc. further propel the medication telemanagement devices market. Europe is in the 2nd position in the regional segment for the medication telemanagement devices market. Strategic partnership between academic research institutes and IT-healthcare companies to develop the technology associated with the medication telemanagement devices market. Asia Pacific is set to register comfortable market growth owing to the significant rise in the IT-healthcare segment and increasing adoption of smartphones and health associated applications by patients and health enthusiasts.

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