The wireless technology, especially mobile phones, are increasingly being utilized across the globe. The rising usage of mobile phones has made life easier on a lot of fronts. Communication has become easier, and now with the smart phones, people can almost do everything they can do with their computers via smartphones. In 2020, about 3.5 billion people are using smartphones, which is about 45% of the world’s population owing a smartphone. In addition to this, the total number of people across the globe who own a smart and feature phone is 4.78 billion, which is approximately 61% of the world’s population .
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Medication adherence products are both software and hardware centric. In the past, software centric medication adherence products, including mobile apps, various web portals, and could based application, were more in demand in the past. However, the demand for hardware centric medication adherence products, including devices and packaging, are expected to advance considerably in the coming years. The reason for this is the growing focus of companies in the medication adherence market on launching hardware centric products including HealthAssist Watch by Adherence Solutions LLC, and Smart Wireless Pill Bottles by AdhereTech Inc.
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North America increasingly adopted medication adherence solutions in the past, which is ascribed to the growing research & development infrastructure, expanding healthcare expenditure, increasing aging population, and the surging prevalence of chronic diseases in the region. As per the Centers for Disease Control and Prevention, the total healthcare expenditure in the U.S. was $3.2 trillion in 2015 and the per capita national health expenditure was $9,990. In the coming years, the adoption of medication adherence is also expected to rise in the Asia-Pacific region because of the growing implementation of innovative systems featured with medication reminder for them.
Hence, the demand for medical adherence is growing due to the rising penetration of mobile devices.
