IMARC Group has recently released a new research study titled “Connected Drug Delivery Devices Market Report by Product (Connected Sensors, Integrated Connected Devices), End User (Hospitals and Healthcare Providers, Homecare), Technology (Bluetooth, NFC, and Others), and Region 2024-2032”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
The global connected drug delivery devices market size reached US$ 864.4 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 6,879.9 Million by 2032, exhibiting a growth rate (CAGR) of 25.1% during 2024-2032.
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Factors Affecting the Growth of the Connected Drug Delivery Devices Industry:
- Increasing Prevalence of Chronic Diseases:
The rising prevalence of chronic diseases such as diabetes, asthma, cardiovascular diseases, and other long-term health conditions is a major factor driving the growth of the connected drug delivery devices market. Chronic diseases require ongoing management and continuous medication adherence, which can be challenging for patients to maintain. Connected drug delivery devices offer a solution by facilitating better disease management through features like automated reminders, dosage tracking, and real-time monitoring.
Additionally, the burden of chronic diseases is growing globally, with an increasing number of people living with conditions that require long-term medication management. This trend is further exacerbated by factors such as increasing geriatric populations, sedentary lifestyles, poor dietary habits, and the rising prevalence of obesity. These factors contribute to the demand for more efficient, reliable, and user-friendly drug delivery systems that can support patients in managing their conditions more effectively.
- Growing Focus on Patient-Centric Care:
There is a growing emphasis on patient-centric care in modern healthcare, which prioritizes personalized treatment plans tailored to individual patient needs. This shift is a significant driver of the connected drug delivery devices market. These devices enable a more tailored approach to medication management by providing real-time data on patient usage and responses to treatment, allowing for adjustments to be made promptly.
Patient-centric care also involves empowering patients to take an active role in managing their health, and connected drug delivery devices play a crucial role in this empowerment. By providing patients with tools to track their medication usage and receive reminders, these devices help ensure that patients adhere to their prescribed regimens. Moreover, the data generated by these devices can be shared with healthcare providers to inform more accurate and personalized treatment plans.
- Technological Advancements:
Technological advancements in digital health technologies, including the Internet of Things (IoT), artificial intelligence (AI), smart sensors, and mobile applications, are revolutionizing the connected drug delivery devices market. These innovations are making drug delivery more efficient, precise, and user-friendly, thereby enhancing patient adherence and outcomes. For example, IoT-enabled drug delivery devices can connect with smartphones and other digital platforms to provide real-time data on medication usage and adherence, enabling healthcare providers to monitor patient compliance remotely.
AI algorithms can analyze this data to predict medication adherence patterns and suggest interventions to improve patient outcomes. Furthermore, smart sensors integrated into drug delivery devices can detect when a dose is administered and provide instant feedback to patients and healthcare providers, ensuring accurate dosage and timely administration.
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Connected Drug Delivery Devices Market Report Segmentation:
By Product:
- Connected Sensors
- Connected Inhaler Sensors
- Connectable Injection Sensors
- Integrated Connected Devices
- Connected Inhalation Devices
- Connected Injection Devices
Connected sensors hold the majority of the market share because they are cost-effective, easily integrated with existing drug delivery devices, and provide valuable real-time data for monitoring medication adherence.
By End User:
- Hospitals and Healthcare Providers
- Homecare
Hospitals and healthcare providers accounted for the largest market share as these institutions are the primary users of connected drug delivery devices for monitoring patient compliance and improving treatment outcomes.
By Technology:
- Bluetooth
- NFC
- Other Technologies
Bluetooth represented the largest segment due to its widespread availability, low cost, ease of integration with mobile devices, and ability to facilitate real-time data transfer between patients and healthcare providers.
Regional Insights:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
North America’s dominance in the market is attributed to its advanced healthcare infrastructure, high adoption rates of digital health technologies, and strong presence of key market players.
Global Connected Drug Delivery Devices Market Trends:
The expansion of telemedicine services, driving the demand for devices that can be used remotely to monitor and administer medications, is propelling the market growth. Additionally, the implementation of favorable policies by various regulatory bodies supporting the development and approval of connected drug delivery devices is driving the market growth. Besides this, the rising geriatric population, resulting in the increased need for easy-to-use drug delivery systems that can help manage multiple medications and chronic conditions often associated with older age, is favoring the market growth.
Top Companies Operated in Connected Drug Delivery Devices Industry:
- Adherium Ltd.
- BioCorp Production
- Cohero Health Inc. (AptarGroup Inc.)
- Elcam Medical ACS. Ltd
- Findair Sp. z o. o.
- Merck KGaA
- Phillips Medisize (Molex LLC)
- Propeller Health (Resmed Inc.)
- Teva Pharmaceutical Industries Ltd.
- West Pharmaceutical Services Inc.
Key Highlights of the Report:
- Market Performance (2018–2023)
- Market Outlook (2024–2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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