IMARC Group, a leading market research company, has recently released a report titled “Connected Drug Delivery Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global connected drug delivery devices market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Connected Drug Delivery Devices Market?
Report Attributes
Details
Market Size in 2022
US$ 652.9 Million
Market Forecast in 2028
US$ 3,517.0 Million
Growth rate (2023 to 2028)
CAGR of 33.6%
Base Year of the Analysis
2022
Forecast Period
2023-2028
What is Connected Drug Delivery Devices?
Connected drug delivery devices represent an advanced integration of technology within the pharmaceutical and medical sectors. These devices combine traditional drug delivery systems with digital technology, enabling real-time tracking, monitoring, and management of medication administration. The primary aim of connected drug delivery devices is to enhance patient adherence to prescribed treatment plans, especially for chronic conditions that require regular medication. They often include features like reminders, dose tracking, and wireless connectivity to healthcare providers. By connecting to smartphones or other digital platforms, these devices allow patients and healthcare professionals to monitor the timing and dosage of medication, ensuring that it aligns with the prescribed regimen. If a dose is missed or taken incorrectly, alerts can be sent to both the patient and their healthcare provider. Healthcare providers can also gain insights into a patient’s response to treatment through data analytics, enabling more personalized care. This fosters a more interactive and informed relationship between patients and healthcare professionals. In addition, connected drug delivery devices contribute to clinical research by providing accurate data on medication adherence, improving the understanding of treatment effectiveness.
What are the Growth Prospects and Trends in the Connected Drug Delivery Devices Industry?
The increasing need for regular and precise medication administration represents one of the key factors driving the growth of the market across the globe. This, coupled with the rise in chronic diseases like diabetes and cardiovascular disorders is acting as a major growth-inducing factor. The market is also driven by continuous innovations in digital technology, including mobile applications, IoT, and data analytics, which are enabling the development of sophisticated devices that can connect, monitor, and report medication usage. In line with this, the increasing trend toward personalized healthcare, where treatments are tailored to individual needs. Connected drug delivery devices provide real-time data to healthcare providers, which allows for more customized care. In addition to this, non-adherence to prescribed medication regimens is a significant healthcare challenge. These devices help in improving adherence by sending reminders and alerts, thus meeting a crucial healthcare need. Regulatory bodies are encouraging the adoption of digital health solutions to improve overall healthcare outcomes. Policies promoting digital health are positively impacting the market. With a growing understanding of the benefits, healthcare professionals are increasingly recommending these devices, which is fostering the market growth. Apart from this, a more informed and health-conscious population is showing interest in managing and tracking their health, thus making them more receptive to connected drug delivery devices. The ability of these devices to seamlessly integrate with existing electronic health record systems makes them attractive to healthcare institutions. Reducing healthcare costs by preventing complications due to medication non-adherence can also be a driving force in the market. Moreover, the enhancing focus on data privacy and secure communication is leading to the development of more secure and compliant devices, which is increasing trust and adoption rates, thus creating a positive outlook for the market across the globe.
Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Who are the Key Players Operating in the Connected Drug Delivery Devices Market?
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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.
What is Included in Market Segmentation?
The report has categorized the market based on product, end user, technology and region.
Breakup by Product:
Connected Sensors
Connected Inhaler Sensors
Connectable Injection Sensors
Integrated Connected Devices
Connected Inhalation Devices
Connected Injection Devices
Based on End User:
Hospitals and Healthcare Providers
Homecare
Analysed by Technology:
Bluetooth
NFC
Others
Regional Insights:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key Highlights of the Report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
SWOT Analysis
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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