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The Global Beyond The Pill Market Size is predicted to register at an 11.62% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The increasing elderly population, increased public understanding of healthcare, and changing lifestyles are all driving forces in the market growth.
- Rising technology advancements in healthcare and the shift to personalized medical care are expected to drive industry growth.
- North America dominated the market and accounted for a global revenue share in 2023.
- A significant barrier is extensive legal mandates and difficult competition among pharmaceutical firms, which slow down the market growth.
Beyond the pill, approaches may include illness and therapy knowledge, diagnosis, therapy implementation, enhancement of pharmaceutical accessibility, and general patient support. Rising prevalence of lifestyle-related ailments such as overeating, stomach ulcers, peptic ulcer disease (GERD), and others, and rise in chronic disorders such as cancer, hypertension, and others are important drivers driving the growth of the beyond the pills market.
Furthermore, increasing study and development activities for creating the beyond-the-pill drive market growth. On the other hand, the massive price of orally administered sensors and strong government regulations that govern the expanding use of these devices are expected to restrain market expansion. Additionally, the added benefits of medical technology to diagnose and diagnose disease in a hospital manner while simultaneously classifying gene mutations, extended therapeutic provision, and personalized medicine further enhance the growth prospects of the global beyond-pill market in the upcoming five years.
In the next five years, technological improvements and factors influencing location-based healthcare services, smartphone applications, and remote monitoring devices will significantly impact the global market for alternatives to pills. Health results anticipated from therapeutic or pharmaceutical products can be improved with digital pharmaceutical services or "beyond the pill" services. These offerings are also strengthening the competition. The rise of generics and biosimilars is accompanied by increased competition among global players.
Recent Developments:
- In May 2021, Eli Lilly and Company signed key international partnerships with four businesses – DexCom, Inc., Glooko, Inc., myDiabby Healthcare, and Roche – to enhance connected solutions and expedite diabetes treatment in overseas markets. These companies provide diabetes management systems compatible with Lilly's Tempo PenTM (approved in several worldwide markets) and Tempo Smart ButtonTM (currently in late-stage development) to help individuals with diabetes and healthcare professionals.
Competitive Landscape:
Some major key players in the Beyond The Pill market are:
- F. Hoffmann-La Roche AG (Flatiron Health)
- Otsuka Pharmaceuticals Co., Ltd
- Amgen, Inc.
- AstraZeneca Plc
- Novartis AG
- Sanofi S.A
- Novo Nordisk A/S
- Eli Lilly and Company
- Johnson & Johnson
- Teva Pharmaceutical Industries Ltd.,
Market Segmentation:
The beyond-the-pill market is segmented on the therapeutic area and offerings. Based on therapeutic areas, the market is further fragmented into diabetes, oncology, cardiovascular diseases, asthma, and others. The market is bifurcated into services, monitoring, assistance, information, and education based on offerings.
Based On The Therapeutic Area, Oncology Is A Major Contributor To The Beyond-The-Pill Market
The market's leading segment is oncology. The global market is expanding due to the growing burden of cancer across the world due to rising alcohol and tobacco use. 20% of pharmaceutical sales worldwide are accounted for by oncology therapies alone. As a result, the oncology sector attracts investors due to its growing importance and increasing profit potential. The demand for early cancer detection and treatment has increased due to the increasing frequency of numerous chronic diseases.
The Monitoring Segment Witnessed Growth At A Rapid Rate
The monitoring segment grabbed the highest revenue share, and it is anticipated that it will continue to hold that position during the anticipated time. The rising prevalence of diseases such as diabetes, stroke, and renal disease is increasing the need for patient monitoring. Major market participants' tactics for expanding the sector include collaboration, teamwork, innovation, launches, and mergers. Throughout the world, social segregation and quarantining methods were developed during the COVID-19 pandemic. As a result, many people avoided regular visits to the hospital. Many people now require routine home temperature and oxygen level monitoring to maintain track of their health. h. As a result, demanding monitor
The North American Beyond The Pill Market Holds A Significant Regional Revenue Share
The North American beyond the pill market is expected to register the highest market share in revenue shortly. The trend is projected to continue due to many players and increased technology improvements in the region's healthcare industry. The highest market share can be attributable to healthcare expenditure scenarios, FDA and other certifications for pill technology-based products, and increased government and other agency investments. In addition, Asia Pacific is projected to grow rapidly in the global beyond the pill market. This is due to increasing technical improvements in the diagnosis of many cancers.
Global Beyond The Pill Market Report Scope:
|
Report Attribute |
Specifications |
|
Growth rate CAGR |
CAGR of 11.62% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments covered |
Therapeutic Area And Offerings |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
F. Hoffmann-La Roche AG (Flatiron Health), Otsuka Pharmaceuticals Co., Ltd., Amgen, Inc., AstraZeneca Plc., Novartis AG, Sanofi S.A., Novo Nordisk A/S, Eli Lilly and Company, Johnson & Johnson, Teva Pharmaceutical Industries Ltd. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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