Advertisement

Topics

'Smart' Pills, Patches Can Save $290 Billion in U.S. Health Care Costs

20:00 EDT 1 Aug 2016 | Marketwired

BOSTON, MA--(Marketwired - August 02, 2016) - According to Lux Research, smart packaging, apps, telemedicine and new drug-delivery technologies offer the best chance of raising medication adherence as the industry targets savings worth hundreds of billions of dollars from the failure of people to take their medications regularly.

The smart drug-delivery systems emerged overall winners among medication adherence monitoring technologies across the four major drug adherence stakeholders -- patients, physicians, pharma, and payers -- in a ranking by Lux Research. Based on 13 criteria including accuracy, actionability and tampering prevention, smart drug-delivery methods scored 4.3 out of a maximum five in usability and 3.3 in impact, reflecting the best balance.

"User-friendly interfaces combined with effective technical capabilities are both required for addressing this market which will continue to grow due to population aging and epidemiology trends," said Milos Todorovic, Lux Research Analyst and lead author of the report titled, "From Aging in Place to Clinical Trials: Lowering Health Care Costs with Medication Adherence."

In the U.S. market alone, an estimated $290 billion could be saved if more people took prescribed drugs at the right time. The savings come from reduced progression of diseases, lower hospitalization and emergency room charges, and also reduced cost of clinical trials.

"Seamless integration into objects people use on a regular basis would go a long way toward increasing the utilization of the technology and reducing the social stigma that comes with continuous monitoring," he added.

Lux Research analysts evaluated medication adherence technologies on 13 different criteria and ranked them on impact and usability. Among their findings:

The report, titled "From Aging in Place to Clinical Trials: Lowering Health Care Costs with Medication Adherence," is part of the Lux Research Digital Health and Wellness Intelligence service.

About Lux Research

Lux Research provides strategic advice and ongoing intelligence for emerging technologies. Leaders in business, finance and government rely on us to help them make informed strategic decisions. Through our unique research approach focused on primary research and our extensive global network, we deliver insight, connections and competitive advantage to our clients. Visit www.luxresearchinc.com for more information.

Image Available: http://www.marketwire.com/library/MwGo/2016/8/1/11G108864/Images/39c09236-0ad2-48ea-b6f8-4185427bb755-6c815a1cfcc38142916cad74f6ea3b41.jpg

Lux Research, Inc.617-502-5314 NEXT ARTICLE

More From BioPortfolio on "'Smart' Pills, Patches Can Save $290 Billion in U.S. Health Care Costs"

Advertisement
Quick Search
Advertisement
Advertisement

 

Relevant Topics

Drug Discovery
Clinical Approvals Clinical Trials Drug Approvals Drug Delivery Drug Discovery Generics Drugs Prescription Drugs In the fields of medicine, biotechnology and pharmacology, drug discovery is the process by which drugs are dis...

Pharmacy
Pharmacy is the science and technique of preparing as well as dispensing drugs and medicines. It is a health profession that links health sciences with chemical sciences and aims to ensure the safe and effective use of pharmaceutical drugs. The scope of...