The Connected Drug Delivery Devices Market is witnessing significant growth, driven by advancements in technology and the increasing need for patient adherence to medication regimens. According to a recent report by Market.us, the global market size is expected to be worth around USD 2,980.9 million by 2032, up from USD 349.2 million in 2022, with a compound annual growth rate (CAGR) of 24.6% during the forecast period from 2023 to 2032.
Several factors are contributing to this robust growth. The rising prevalence of chronic diseases such as diabetes, asthma, and chronic obstructive pulmonary disease (COPD) is a major driver. These conditions necessitate regular medication, and connected drug delivery devices help ensure patients adhere to their prescribed therapies, improving health outcomes. Additionally, the integration of Internet of Things (IoT) technology into drug delivery systems is enhancing patient engagement and enabling better management of medication regimens. Innovations such as smart inhalers and connected autoinjectors are becoming increasingly popular for their ability to provide real-time data to both patients and healthcare providers.
However, the market also faces challenges. High costs associated with these advanced devices can be a barrier to widespread adoption, particularly in low-income regions. Furthermore, concerns about data privacy and security are significant, as these devices collect and transmit sensitive patient information.
Recent developments in the market highlight ongoing innovation and strategic initiatives by key players. For instance, in May 2022, Jabil Healthcare launched the Qfinity autoinjector platform, which includes a connected option for subcutaneous drug self-administration. Similarly, Aptar Pharma introduced the HeroTracker Sense in February 2022, a digital respiratory health solution that transforms standard metered-dose inhalers into smart devices. These advancements underscore the market’s potential for growth and the continuous efforts by companies to address existing challenges and enhance patient care.
Overall, the Connected Drug Delivery Devices Market is poised for substantial expansion, driven by technological advancements, increased patient awareness, and strategic initiatives by market players
Key Takeaways
- Integrated connected devices generated the highest revenue among products in the connected drug delivery devices market.
- Bluetooth technology dominated with a 47% market share in the connected drug delivery devices market.
- The diabetes segment held the highest market share at 31% in the connected drug delivery devices market.
- Injectable route of administration contributed the most to the connected drug delivery devices market.
- The home care segment is expected to expand with the highest CAGR among end users during the forecast period.
- North America led the connected drug delivery devices market in 2022, holding a 35% market share.
- Asia-Pacific is predicted to achieve the highest CAGR in the connected drug delivery devices market from 2023 to 2032.
Get Sample PDF Report: https://market.us/report/connected-drug-delivery-devices-market/request-sample/
Connected Drug Delivery Devices Market Key Segments
By Product
- Connected Sensors
- Integrated Connected Devices
By Technology
- Bluetooth
- Near-field communication (NFC)
- Other Technologies
By Application
- Diabetes
- Respiratory
- Cardiovascular
- Anaphylaxis
- Other Applications
By Route of Administration
- Injectable
- Inhalational
By End-User
- Hospitals
- Home Care
Key Regions
- North America (The US, Canada, Mexico)
- Western Europe (Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, Rest of Western Europe)
- Eastern Europe (Russia, Poland, The Czech Republic, Greece, Rest of Eastern Europe)
- APAC (China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Rest of APAC)
- Latin America (Brazil, Colombia, Chile, Argentina, Costa Rica, Rest of Latin America)
- Middle East & Africa (Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, Rest of MEA)
Buy Directly: https://market.us/purchase-report/?report_id=53276
Key Players Analysis
Medtronic plc is a leader in the connected drug delivery devices market, offering advanced solutions for chronic disease management. Their portfolio includes devices like the MiniMed insulin pump, which integrates continuous glucose monitoring and insulin delivery, allowing real-time data tracking and remote monitoring. The company’s focus on innovation and patient-centric technology drives its market growth, supported by its robust research and development capabilities. Medtronic’s connected devices aim to enhance patient adherence, improve outcomes, and reduce the burden of chronic disease management.
Johnson & Johnson Services Inc. is a major player in the connected drug delivery devices market, leveraging its extensive healthcare expertise. The company offers connected drug delivery systems, such as smart inhalers and injectors, which enable precise medication administration and real-time monitoring. These devices enhance patient compliance and provide valuable data for healthcare providers to optimize treatment plans. Johnson & Johnson’s commitment to integrating advanced technologies and expanding its digital health solutions positions it as a key contributor to the market’s growth.
Propeller Health, a subsidiary of ResMed Inc., specializes in connected inhaler technology for respiratory diseases like asthma and COPD. Their devices are equipped with sensors that track medication use, provide reminders, and sync data with mobile apps for patient and clinician access. Propeller Health’s solutions aim to improve medication adherence and patient outcomes by offering insights into usage patterns and enabling personalized treatment adjustments. The company’s innovative approach to respiratory care has made it a prominent name in the connected drug delivery devices sector.
BIOCORP is known for its development of smart medical devices, including the Mallya smart cap for insulin pens. This device captures injection data and transmits it via Bluetooth to a companion app, providing real-time monitoring and reminders. BIOCORP’s focus on integrating digital technology with drug delivery systems enhances patient compliance and facilitates remote management. Their products cater to the growing demand for personalized medicine and connected healthcare solutions, positioning BIOCORP as a significant player in the market.
Adherium Limited, based in New Zealand, focuses on remote monitoring solutions for respiratory conditions. Their Hailie sensors attach to inhalers and track medication usage, providing data to both patients and healthcare providers. These devices aim to improve adherence and enable proactive management of asthma and COPD. Adherium’s commitment to enhancing patient outcomes through digital health innovations and its strategic partnerships with pharmaceutical companies bolster its presence in the connected drug delivery devices market.
Connected Drug Delivery Devices Market Key Players:
- Medtronic plc
- Johnson & Johnson Services Inc.
- Propeller Health (ResMed Inc.)
- BIOCORP
- Adherium Limited
- West Pharmaceutical Services Inc
- Becton Dickinson and Company
- Ypsomed AG
- Tandem Diabetes Care Inc.
- Other Key Players
Connected Drug Delivery Devices Market Report Scope >> Market Value (2022): USD 349.2 Million || Forecast Revenue (2032): USD 2,980.9 Million || CAGR (2023-2032): 24.6% || Base Year Estimation: 2023 || Historic Period: 2019-2022 || Forecast Period: 2024-2033.
Inquire More about report: https://market.us/report/connected-drug-delivery-devices-market/#inquiry
About Market.US
Market.US is renowned for its comprehensive market research and analysis, providing customized and syndicated reports to a global clientele. Specializing in a variety of sectors, they offer strategic insights and detailed market forecasts, assisting businesses in making informed decisions. With a focus on innovation and accuracy, Market.US supports clients in over 126 countries, and maintains a strong repeat customer rate, underscoring their commitment to quality and client satisfaction. Their team excels in delivering exceptional research services, ensuring that no detail is overlooked in any target market.
Contact Details
Market.us (Powered By Prudour Pvt. Ltd.)
Contact No: +1 718 618 4351.
Email: [email protected]
Blog: https://medicalmarketreport.com/
View More Trending Reports
Bone Growth Stimulator Market Will Increase USD 3,208 Million By 2033 With Almost 7.2% CAGR
Digital Health Market Set to Hit USD 1190.4 Billion by 2032
Point of Care Diagnostics Market Valued at USD 86.2 Billion by 2032
Telemedicine Market Economic Projections Soar To USD 590.9 Billion By 2033, With 25.7% CAGR