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Connected Drug Delivery Devices Market - By Device (Connected Sensors, Integrated Devices), By Technology (Bluetooth, Near Field Communication, Wi-Fi), By Application (Anaphylaxis, Respiratory, Cardiovascular, Diabetes, Hormone Replacement), By End-use & Forecast, 2023-2032


Published on: 2024-08-01 | No of Pages : 240 | Industry : Healthcare

Publisher : MIR | Format : PDF&Excel

Connected Drug Delivery Devices Market - By Device (Connected Sensors, Integrated Devices), By Technology (Bluetooth, Near Field Communication, Wi-Fi), By Application (Anaphylaxis, Respiratory, Cardiovascular, Diabetes, Hormone Replacement), By End-use & Forecast, 2023-2032

Connected Drug Delivery Devices Market Size

Connected Drug Delivery Devices Market size surpassed USD 345 million in revenue in 2022 and is speculated to grow at more than 28% CAGR between 2023 and 2032 accredited to rising awareness among people regarding dosage adherence.
 

Connected Drug Delivery Devices Market Overview

The industry demand is primarily fueled by growing patient awareness regarding adherence to prescribed therapies. The emerging trends of self-administered therapy and prescribed medication adherence with modern technology have brought connectivity and accuracy to medication administration. Additionally, increasing remote patient monitoring, significant R&D in medical drug delivery devices, and widespread consumer adoption are elevating product uptake.
 

Security concerns regarding patient data may restrain industry progression

Despite a positive outlook for product adoption, the connected drug delivery devices market faces a major hurdle due to data concerns associated with patient medication. A compromise in data security could result in significant losses of private data, including social security and bank information, medical information, and location data. Hospitals, patients, and external service providers are highly susceptible to cybersecurity threats. Nonetheless, the rising implementation of a telehealth platform integrated with AR/VR technologies is primed to help manufacturers overcome this issue.
 

Connected Drug Delivery Devices Market Analysis

In terms of device, the connected drug delivery devices market size from the connected sensors segment is projected to reach over USD 1.5 billion by 2032. The connected sensor segment is further classified into connected inhalation sensors and connected injectable sensors. The connected inhalation sensors technology helps a medical professional in measuring the resistance of the airways, the dosage, the depth, and the duration of drug inhalation, among other things.
 

Connected Drug Delivery Devices Market Share By Application

Connected drug delivery devices market from respiratory segment is estimated to reach a valuation of over USD 1.5 billion by the end of 2032 propelled by the mounting prevalence of respiratory diseases viz., asthma, COPD, lung cancer, coronavirus, and others. As these diseases require long-term treatment, connected drug delivery devices are considered effective in keeping track of drug doses. To cite an instance, the American Cancer Society foresees about 238,340 new cases of lung cancer in the U.S. in 2023.
 

Bluetooth segment accounted for more than 48% of the connected drug delivery devices market revenue owing to its wide range of 10-100m and ready availability on all smartphones. The smartphone app connects Bluetooth-enabled drug delivery devices and aids in maintaining complete medication history and notifies the user with reminders. Moreover, experts suggests that the new Bluetooth Low Energy standard has increased its prevalence in IoMT devices, which is further boosting its utilization in the healthcare industry.
 

Connected drug delivery devices market from the hospital segment was worth USD 99.5 million in 2022. The hospital segment is anticipated to depict remarkable growth in the analysis period as a result of increased uptake of advanced medical devices in hospital settings. Additionally, an upsurge in chronic diseases across the globe has uplifted the need for automated linked medical devices as they reduce hospitals’ workload and issues related to manual administration for patients. As per CDC, approximately 59.5% of adults with at least one chronic condition visit ED in hospitals.
 

Connected Drug Delivery Devices Market Size By Region

North America connected drug delivery devices market held over 44% industry share in 2022 on account of the high healthcare spending and the rapid adoption of new technologies in healthcare facilities. Besides, the strong presence of prominent industry participant is fostering the availability of cutting-edge medical devices in the region.  
 

Connected Drug Delivery Devices Market Share

  • Adherium
  • Merck
  • Phillips Medisize
  • Bayer AG
  • Nemera
  • Findair Sp. z o. o.
  • BioCorp Production
  • Teva Pharmaceuticals
  • Propeller Health
  • and West Pharmaceutical Services

 are some key manufacturers of connected drug delivery devices. These firms are mainly engaging in product range diversification and collaborations to boost their market standing.
 

The connected drug delivery devices market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD from 2018 to 2032, for the following segments

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By Device

  • Connected sensors
    • Connected inhalation sensors
    • Connected injectable sensors
  • Integrated devices
    • Integrated inhalation devices
    • Integrated injectable devices

By Technology

  • Bluetooth
  • Near field communication
  • Wi-Fi

By Application

  • Anaphylaxis
  • Respiratory
  • Cardiovascular
  • Diabetes
  • Hormone Replacement
  • Others

By End-use

  • Hospital
  • Clinics
  • Homecare settings
  • Others

The above information is provided for the following geographies

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Poland
    • Switzerland
    • Netherlands
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • Indonesia
    • Vietnam
    • Thailand
    • South Korea
  • Latin America
    • Mexico
    • Brazil
    • Argentina
    • Colombia
    • Peru 
  • Middle East
    • South Africa
    • Saudi Arabia
    • UAE
    • Israel
       

 

Table of Content

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )