The report is titled as ‘Digital Pills Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the digital pills market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. Digital pills market is expected to grow with a significant rate in the near future.
The digital pills market in 2020 is accounted for US$ 194.1 Mn and expected to reach at a value of US$ 350.1 Mn by 2028 with a significant CAGR of 7.7%.
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Digital Pills Introduction
Digital pills, which typically include a sensor about the size of a grain of sand, can travel safely through the body and communicate with some kind of external device, like an app or a wearable patch.
Digital pills are also called as a smart drug that communicates with the smartphone app and keep the physicians, care takers, family informed about whether the patient has taken medication or not, time and dose of the medication etc. Recently in 2017, FDA approved a Abilify MyCite – adigital pill for treatment of schizophrenia, to Otsuka Pharmaceuticals. Otsuka Pahramacuticals developed this digital pill with Proteous digital health.
Many of the mental patients do not take medication due to their side effects, they forget to take medication or because they become paranoid about the doctor or the doctor’s intentions. Digital pill is the great tool for patients who resist taking the medication, and it also informs the care taker about the missed dose.
Digital pill contains tiny ingestible sensor made up of copper, magnesium and silicon. This chip generates electrical signals when it comes in contact with gastric acids. The current is then sensed by the Band-Aid-like patch that must be worn on the left rib cage and replaced after seven days.
The patch sends the date and time of pill ingestion and the patient’s activity level via Bluetooth to a cellphone app. The information is then transmitted to database which can be accessed by physicians, family members or other care takers of the patient.
As on today there exists a little commercial presence of digital pills, however, the digital pills market is expected to hold huge growth potential.
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Digital Pills Market Key Players
Some of the major key participating players in global digital pills market are Proteus Digital Health., Ostuka Holdings Co., Ltd., 2morrow Inc., Ginger, Puretech Health, Livongo Health, Alivecor, Inc., Welldoc, Inc., Omada Health, Inc., Novartis AG, Yuza., Abbott, Mocacare, Gentag, Inc., Irhythm Technologies, Inc., Leaf Healthcare, Inc., Perficient, Inc., Olympus Corporation, Bdd Limited, Capsocam Plus, Medtronic, and others. Global market for digital pills is mainly dominated by Otsuka Pharmaceuticals.
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