Global Adherence Monitoring Cap Market is expected to grow significantly in the near future owing to the increasing geriatric population. Adherence monitoring caps are designed for the geriatric population who require reminders for medicinal dosage. The caps also offer visual detectability and are highly effective products for all the patients. They are integrated with microcircuits that record time & date every time the patient opens a container. The wireless cap transfers medicating data when used with the cap reader.
The market is driven by ageing population, government agencies that are enforcing stringent regulations on packaging. In addition, the increasing public interest for smart packaging is expected to boost the market in the years to come. On the global scale, the average age of population is rising and hence the coming decade will witness a rise in demand for highly effective medication products, thereby driving adherence monitoring cap market. Moreover, market is also driven by changing consumer choice towards smart devices. However, lack of awareness and high price of the product are expected to obstruct the growth of the market.
The market is categorized on the basis of type, end user, sales channel and geography. On the basis of type, market is divided into liquid dispenser and capsule dispenser. Capsule dispenser segment is expected to lead the market in the coming years due to its growing acceptance and higher efficiency. Based on end user, market is split into food industry, pharmaceutical industry and health supplements. Medical industry is predicted to register a substantial growth due to the growth in geriatric population.
Geographically, market is segmented as North America, Latin America, Europe, Asia Pacific and Middle East & Africa. North America is expected to dominate the market owing to the increase in population especially elderly population. The key players in adherence monitoring cap market are etectRx, Vitality, Inc. and WestRock Company.
Research Support Specialist, USA