Global Connected Drug Delivery Devices Market to Grow at 25.1% During 2024-2032, Impelled by Advent of Advanced Products

May 04, 2021 | Healthcare

According to the latest report by IMARC Group, 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,” the global connected drug delivery devices market size reached US$ 864.4 Million in 2023. Connected drug delivery devices are smart and wireless electronic devices that enable the targeted delivery of therapeutic medicines. These systems offer dosage reminders, adherence trackers, alarms, and tracking tools, and education and feedback tools for personalized patient care. Connected drug delivery devices are user-friendly, patient-centric, quick and efficient, and easily accessible. On account of these properties, these devices are widely used for remotely monitoring patients with diabetes, asthma, hepatitis C, hypertension, tuberculosis, multiple sclerosis, clinically isolated syndrome, and chronic obstructive pulmonary disease (COPD).

Global Connected Drug Delivery Devices Market Trends:

The widespread preference toward home-based patient care represents one of the primary factors propelling the market growth. Moreover, the increasing prevalence of chronic diseases and rising emphasis on preventive care are acting as other major growth-inducing factors. The market growth is further driven by the growing integration of cloud-based computing solutions and artificial intelligence (AI) with healthcare applications. In line with this, manufacturers are continually launching devices that can connect to apps and programs, allow data transfer, enable automated tracking, and maximize patient safety, which, in turn, is contributing to the market growth. Other factors, such as extensive research and development (R&D) activities, significant investments in the medical industry, and the rising adoption rates of connected devices in laboratories and hospitals for maintaining electronic health records (EHR), are creating a positive outlook for the market. On account of these factors, the market is expected to grow at a CAGR of 25.1% during 2024-2032.

Market Summary:

  • On the basis of the product type, the market has been divided into connected sensors (connected inhaler sensors and connectable injection sensors) and integrated connected devices (connected inhalation devices and connected injection devices).
  • Based on the end user, the market has been classified into hospitals and healthcare providers, and homecare.
  • On the basis of the technology, the market has been divided into Bluetooth, NFC and others.
  • On a regional basis, the market has been spread across North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and Middle East and Africa.
  • The competitive landscape of the market has also been examined, with some of the key players being 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., and West Pharmaceutical Services Inc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Segment Coverage Product, End User, Technology, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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., and West Pharmaceutical Services Inc.
Customization Scope 10% Free Customization
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Global Connected Drug Delivery Devices Market to Grow at 25.1% During 2024-2032, Impelled by Advent of Advanced Products
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