Drug Adherence Enhancement Market: Devices and Applications, 2018-2030

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Feb 06, 2019, 16:08 ET

NEW YORK, Feb. 6, 2019 /PRNewswire/ -- INTRODUCTION
Poor adherence to prescribed medications is a growing concern in the healthcare industry and is believed to be associated with negative health outcomes, inflated medical expenses, loss in productivity and, in certain cases, proves fatal as well. It has been estimated that, of the ~4 billion annual prescriptions filled by the retailers in the US, approximately 50% are not taken by patients in accordance to physicians' instructions. According to the US Centers for Disease Control and Prevention (CDC), failure to comply to prescribed treatment regimens has been identified as the cause of 125,000 premature deaths, up to 69% of all rehospitalizations, and results in approximately USD 100-300 billion worth of avoidable annual healthcare spending. Further, the US pharmaceutical industry alone is estimated to suffer a loss of approximately USD 188 billion per year, due to low adherence to prescribed medications.

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Lack of compliance to therapy is particularly prevalent among elderly patients suffering from chronic clinical conditions, such as cardiovascular disorders, metabolic disorders (e.g., diabetes), neurological and central nervous system related disorders (e.g., multiple sclerosis and Parkinson's disease) and respiratory disorders (e.g., asthma and chronic obstructive pulmonary disease). It is estimated that overall cost of treatment for non-adherent patients is at least twice as high as patients who adhere to recommended therapy regimens. Studies have demonstrated that every one percent improvement in medication adherence can help the US healthcare industry save up to USD 2 billion, resulting in an increase in pharmaceutical revenues by ~USD 4 billion. As a result, several strategies have been / are being developed by pharmaceutical developers and healthcare providers to improve medication adherence. Such initiatives have been strengthened owing to the availability of connected devices and other digital solutions, which allow patients / healthcare providers to closely monitor and improve drug adherence.

The 'Drug Adherence Enhancement: Devices and Applications, 2018-2030' report features an extensive study of the current landscape and future outlook of the growing market for smart medication adherence devices that are either already commercialized or under development. This burgeoning field presently offers a lot of opportunities to innovation-driven start-ups and investors.

Amongst other elements, the report features:
• A discussion on the current market landscape of smart drug delivery devices for medication adherence (which include smart inhalers, smart injectors, smart wearable injectors and smart pills), featuring information on the developers, along with details on key product specifications, namely audio / visual reminders, connectivity features (USB connection, Bluetooth and / or cellular network), availability of companion mobile application(s) and / or web portal(s), data storage / cloud platform options, and availability of battery backup / rechargeable batteries.
• A discussion on the current market landscape of smart accessory devices for medication adherence (including smart medication dispensers, smart pill bottles / caps, smart pill boxes and smart blister packs), featuring information on the various developers, along with details on key product specifications. The section also presents a list of compliance packaging systems, along with information on their developers.
• A summary of the various guidelines issued by regulatory authorities to govern the development and approval of combination products (drugs and smart devices) across different geographical regions.
• Detailed profiles of some of the leading players in the industry (based on a proprietary shortlisting criteria), highlighting a brief overview of the company, financial information (if available), details related to its products / offerings, clinical trial results, recent developments and a comprehensive future outlook.
• Detailed case studies on the most common chronic disease indications, featuring disease epidemiology, an overview of the economic burden imposed due to non-adherence to prescribed treatment regimens and a history of drug development efforts along with details on the evolution of delivery devices / strategies for improving therapy adherence.
• A comprehensive competitiveness analysis of connected smart drug delivery systems and smart accessory systems on the basis of supplier power and key product specifications.
• An analysis of funding and investments made in companies focused in this domain; the analysis covers information on seed financing, venture capital financing, debt financing, other equity financing and grants / awards received by these companies.
• An analysis of the partnerships that have been forged between companies in the recent past, covering acquisitions, treatment optimization agreements, distribution agreements, manufacturing and supply agreements, product improvement agreements, product development agreements, product commercialization agreements, licensing agreements, service alliances and other relevant deals inked in the period 2010-2018. It also highlights the number of intercontinental and intracontinental deals signed in the aforementioned time period.
• A list of standalone mobile applications that have been developed / are being developed to enable patients to adhere to prescribed medication regimens, along with the USFDA's regulations related to such applications. It also includes details on the various articles / publications that have reported the results achieved by using mobile applications for improving medication adherence among patients.

One of the key objectives of the report was to understand the primary growth drivers and estimate the future size of the market. Based on various parameters, such as target consumer segments, likely adoption rates and expected pricing, we have provided an informed estimate on the likely evolution of the market in the short to mid-term and long term, for the period 2018-2030. We have segmented the market by type of solution (smart drug delivery devices and smart accessory devices), type of product (smart inhalers, smart injectors, smart wearable injectors, smart pills, smart medication dispensers, smart pill bottles / caps and boxes, smart blister packs and others), therapeutic areas (metabolic disorders, cardiovascular disorders, neurological and central nervous system related disorders, respiratory disorders, and others), route of administration (oral, injectable, inhalable and others) and geography (North America, Europe, Asia-Pacific and rest of the world). To account for the uncertainties associated with the development of these novel therapies and to add robustness to our model, we have provided three forecast scenarios, portraying the conservative, base and optimistic tracks of the market's evolution.

The opinions and insights presented in the report were also influenced by discussions held with senior stakeholders in the industry. The report features detailed transcripts of interviews held with the following individuals:
• Bernard Vrijens (Chief Executive Officer, AARDEX Group)
• Spencer Waugh (Chief Executive Officer, AceAge)
• Josh Stein (Chief Executive Officer, AdhereTech)
• Duilio Macchi (Chief Executive Officer, Amiko Digital Health)
• Gaurav Patel (Chief Technical Officer, Cognita Labs)
• Moses Zonana (Chief Executive Officer, Compliance Meds Technologies) and Danahlyn Tamola (Associate Marketing Manager, Compliance Meds Technologies)
• Tina Valbh (Strategy and Business Development (Advisor), etectRx)
• Jonathan Sacks (Chief Executive Officer and Chairman, PharmAdva)
• Timo Heikkilä (Co-Founder and Chief Operating Officer, Popit Technologies)
• Moore Greenberg (Founder, Wealth Taxi)

All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this report are in USD, unless otherwise specified.

1.1. RESEARCH METHODOLOGY
The data presented in this report has been gathered via secondary and primary research. For all our projects, we conduct interviews with experts in the area (academia, industry, medical practice and other associations) to solicit their opinions on emerging trends in the market. This is primarily useful for us to draw out our own opinion on how the market will evolve across different regions and technology segments. Where possible, the available data has been checked for accuracy from multiple sources of information.

The secondary sources of information include
• Annual reports
• Investor presentations
• SEC filings
• Industry databases
• News releases from company websites
• Government policy documents
• Industry analysts' views

While the focus has been on forecasting the market over the coming 12 years, the report also provides our independent view on various technological and non-commercial trends emerging in the industry. This opinion is solely based on our knowledge, research and understanding of the relevant market gathered from various secondary and primary sources of information.

1.1. CHAPTER OUTLINES
Chapter 2 provides an executive summary of the insights captured during our research. It offers a high-level view on the likely evolution of smart / connected devices that are being developed for improving medication adherence among patients.

Chapter 3 provides a general overview about medication adherence and the various methods / parameters used to measure and track patient compliance to prescribed therapeutic regimens. It also includes brief discussion on various types of non-adherence to therapy exhibited by patients and different factors that are considered to be responsible for such practices. In addition, the chapter features a detailed discussion on how non-adherence to therapy is impacting the health of patients and the overall healthcare industry. Further, it includes a brief discussion on various traditional and modern strategies for overcoming poor therapy adherence in patients. The chapter also provides information on the different initiatives that have been undertaken by various organizations to promote medication adherence.

Chapter 4 includes information on over 60 smart drug delivery devices that are either commercialized or under different stages of development for improving medication adherence. The chapter includes the information on the developer companies and the type of smart drug delivery product they offer; these include smart inhalers, smart injectors, smart wearable injectors, smart pills and other such devices. In addition, the chapter includes an analysis based on key product specifications, namely audio / visual reminders, connectivity features (USB connection, Bluetooth and / or cellular network), availability of companion mobile application, and companion web portal, data storage / cloud platform options and availability of battery backup / rechargeable battery.

Chapter 5 includes information on over 70 smart accessory devices that are either commercialized or under different stages of development for improving medication adherence. The chapter includes information on the developer companies and the type of smart accessory product they offer; these include smart medication dispensers, smart pill bottles / caps, smart pill boxes, smart blister packs and others. In addition, the chapter includes an analysis on key product specifications, namely audio / visual reminders, connectivity features (USB connection, Bluetooth, Wi-Fi and / or cellular network), availability of companion mobile application, and companion web portal, data storage / cloud platform options and availability of battery backup / rechargeable battery. Further, the chapter includes a brief overview on compliance packaging and a list of key players with expertise in this domain.

Chapter 6 provides information on various guidelines issued by regulatory authorities to govern the development and approval of combination products (drugs and smart devices) across different geographical regions such as North America, Europe, Latin America, Asia Pacific and the Middle East.

Chapter 7 features detailed profiles of some of the leading stakeholders in the smart drug delivery systems market. Each profile includes a brief overview of the company, financial information (if available), details related to its products / offerings, clinical trial results, recent developments and a comprehensive future outlook.

Chapter 8 features detailed profiles of some of the leading stakeholders in the smart accessory systems market. Each profile includes a brief overview of the company, financial information (if available), details related to its products / offerings, clinical trial results, recent developments and a comprehensive future outlook.

Chapter 9 features case studies on the most common disease indications across metabolic disorders, respiratory disorders and autoimmune disorders. Each case study features a detailed description of the disease, its epidemiology, an overview of the economic burden imposed due to non-adherence to prescribed treatments for the disease and history of drug development along with the evolution of delivery devices / strategies focused on improving therapy adherence.

Chapter 10 presents a product competitiveness analysis of all connected smart drug delivery systems and smart accessory systems on the basis of supplier power and key product specifications. The analysis was designed to enable stakeholder companies to compare their existing capabilities within and beyond their respective peer groups and identify opportunities to achieve a competitive edge in the industry.

Chapter 11 provides information on the funding and investments that have been made in both smart drug delivery systems and smart accessory systems in the recent past. The chapter includes details on various types of capital investments, such as seed financing, venture funding, debt financing and grants, received by companies, highlighting the growing interest of the venture capital community and other strategic investors in this domain.

Chapter 12 features an analysis of the recent collaborations and partnerships that have been inked amongst players in this market, covering several partnership models, namely acquisitions, treatment optimization agreements, distribution agreements, manufacturing and supply agreements, product improvement agreements, product development agreements, product commercialization agreements, licensing agreements, service alliances and others, that have been adopted by industry stakeholders in this domain. It includes a world map representation of all the deals inked in this field in the period 2010-2018, highlighting both intercontinental and intracontinental partnership activity.

Chapter 13 provides a brief overview of the increasing prominence of mobile applications in the healthcare industry and the various regulations laid down by the USFDA for such applications. It includes a list of applications that are available at Google Play Store for helping patients adhere to prescribed medication regimens. The chapter also provides information on the various articles / publications, featuring results of studies aimed to demonstrate the benefits of using mobile applications for improving medication adherence among patients.

Chapter 14 presents a comprehensive market forecast, highlighting the future potential of the market till 2030 based on multiple parameters, such as prices of novel solutions, indication / region specific adoption trends, and competitive landscape. We have provided an informed estimate on the likely evolution of smart drug delivery devices and smart accessory devices. In addition, we have segmented the market by type of product (smart inhalers, smart injectors, smart wearable injectors, smart pills, smart medication dispensers, smart pill bottles / caps and boxes, smart blister packs and others), therapeutic areas (metabolic disorders, cardiovascular disorders, neurological and central nervous system related disorders, respiratory disorders and others), route of administration (oral, injectable, inhalable and others) and geography (North America, Europe, Asia-Pacific and rest of the world).

Chapter 15 summarizes the overall report. The chapter provides a list of the key takeaways and presents our independent opinion on the medication adherence market, specific to smart drug delivery systems and smart accessory systems, based on the research and analysis described in the previous chapters.

Chapter 16 is a collection of interview transcripts of the discussions that were held with key stakeholders in this market. The chapter provides details of interviews held with Bernard Vrijens (Chief Executive Officer, AARDEX Group), Spencer Waugh (Chief Executive Officer, AceAge), Josh Stein (Chief Executive Officer, AdhereTech), Duilio Macchi (Chief Executive Officer, Amiko Digital Health), Gaurav Patel (Chief Technical Officer, Cognita Labs), Moses Zonana (Chief Executive Officer, Compliance Meds Technologies) and Danahlyn Tamola (Associate Marketing Manager, Compliance Meds Technologies), Tina Valbh (Strategy and Business Development (Advisor), etectRx), Jonathan Sacks (Chief Executive Officer and Chairman, PharmAdva), Timo Heikkilä (Co-Founder and Chief Operating Officer, Popit Technologies) and Moore Greenberg (Founder, Wealth Taxi).

Chapter 17 is an appendix, which provides tabulated data and numbers for all the figures included in the report.

Chapter 18 is an appendix, which provides the list of companies and organizations mentioned in the report.

EXAMPLE HIGHLIGHTS
1. Currently, over 60 smart drug delivery devices are either commercially available or are under development for improving adherence to medication. More than 50% of these devices are smart inhalers or smart injectors. Examples of smart inhalers and smart injectors include (in alphabetical order, no selection criteria) 3M™ Intelligent Control Inhaler (3M), BETACONNECT™ (Medicom Innovation Partner), eMDI™ (H&T Presspart), Flexi-Q eMU-P and Flexi-Q eMU-C (Elcam Drug Delivery Device), GoCap (Common Sensing), Propeller (Propeller Health), SMARTTURBO™, SMARTTOUCH™ and SMARTTOUCH™ AV (Adherium), and SmartPilot and YpsoMate Smart (Ypsomed).
2. In addition, there are close to 75 smart accessory devices that are either commercially available or are under development. Of these, over 40% are smart medication dispensers. Noteworthy examples of such products include (in alphabetical order, no selection criteria) Evondos® E300 (Evondos), HERO (HERO Health), Maya™ and Jon™ (MedMinder Systems), MedaCube (PharmaAdva) and Philips Medido (Philips), Pillo (Pillo Health) and SIMPLEMED+ (Vaica).
3. Around 70% of the companies that are involved in the development of smart drug delivery systems and smart accessory systems are small-sized players / start-ups (having less than 50 employees). Examples of such companies include (in alphabetical order, no selection criteria) Aerobit Health, Airbrio, Arthur Health, Cognita Labs, CuePath Innovation, DayaMed, etectRx, MedMinder Systems, PharmRight, Popit, Portal Instruments and Wealth Taxi.
4. Over 50 compliance packaging systems are available to promote medication adherence among patients suffering from chronic clinical conditions; these include blister packs, pouches and dose cups. Companies engaged in the development of such products include (in alphabetical order, no selection criteria) Dispill-USA (Dispill® Multi-dose Packaging), Keystone Folding Box (Ecoslide-RX, Key-Pak® and Key-Pak Plus™), Omnicell (Opti-Pak™ and SureMed®), Parata Systems (Parata PASS Pack™) and TCGRx (AdherePac™ and AdhereCard™)
5. Many standalone mobile applications are also available for improving compliance to prescribed therapeutic regimens. As of July 2018, over 200 such mobile applications, having user ratings of more than four, were available on Google Play Store. It is worth mentioning that more than 70% smart drug delivery and accessory devices that we came across have a supporting mobile application.
6. Close to 180 partnerships have been inked between various stakeholders within the industry over the last few years; of these, over 100 collaborations were signed since 2016. Most of the deals that we came across were product development agreements (53%), signed between players to include new features in their products or advance their development programs. Examples of recently established deals include collaborations between Ypsomed and JDRF (August 2018), Adherium and Vitalus Health (August 2018), Amiko Digital Health and Luz Saúde (July 2018), Becton Dickinson and Helmer Scientific (June 2018), Common Sensing and Flex (May 2018), and Compliance Meds Technologies and Oracle Health Sciences (April 2018),
7. Since 2001, nearly USD 2.5 billion has been invested in companies operating in the field of medication adherence. Interestingly, close to half of the total amount (USD 1.1 billion) was raised between 2015 and August 2018, indicating the rising interest of strategic investors in this domain. Examples of players that have managed to secure capital investments in multiple rounds include Proteus Digital Health, NantHealth, Tandem Diabetes Care, Propeller Health and Cellnovo.
8. The drug adherence market is expected to grow at an annualized rate of more than 15.4% between 2018 and 2030. It is important to highlight that North America (primarily the US) and Europe currently capture the largest share of the overall market. This is followed by Asia-Pacific and rest of the world. As the industry matures, we expect the market in Asia-Pacific to grow owing to the sizable user base in the region.

Read the full report: https://www.reportlinker.com/p05723261

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