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Connected Drug Delivery Devices Market

Demand For Connected Drug Delivery Devices Is on The Rise, Owing To Its Wide Range Applications Across Healthcare Industry

Global Connected Drug Delivery Devices Market is expected to exceed the market valuation of US$ 1 billion by 2027 expanding at a reasonable CAGR of 25.7% during the forecast period (2021-2027). Connected Drug Delivery Devices can connect to a broad range of digital devices. The purpose of these devices is to assist in the supervision and counseling of patients. The various characteristics of connected drug delivery devices include dosing reminders, adherence trackers, and it acts as a tool for patient education.

The demand for Connected drug delivery devices is increasing on account of increasing penetration of the Internet of Things (IoT) in the healthcare devices, increasing focus on patient compliance, quality of healthcare, rising awareness of costs, increasing use of self-administered drugs, rising healthcare programs, and initiatives to spread the connected drug delivery devices’ awareness.

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During the Covid-19 pandemic, the market is experiencing significant growth on account of increasing demand for drug delivery solutions to be used at home. Furthermore, the market is expected to observe enormous growth because of the increase in focus on improving patient compliance and quality of care, raising the awareness of associated costs, and increasing the use of self-administered therapy. Based on Products, the market is fragmented into Connected Sensors and Integrated Connected Devices. The connected sensors segment is expected to dominate the market owing to its easy integration inside the already existing delivery devices without any interruption in their normal functioning. Furthermore, even after the disposable of existing delivery devices, connected sensors can be reused and integrated into another delivery device. Connected Sensors are further bifurcated into Connected Inhaler Sensors and Connectable Injection Sensors. The demand for connected inhaler sensors is increasing on account of the high prevalence of respiratory diseases. Several research companies are working to control the incidence of respiratory diseases, for instance, BIOCORP, a French company focused on the design, development, and manufacturing of innovative medical devices, launched its product “Inspair” in October 2016. Inspair is a smart sensor that helps in the conversion of pressurized metered-dose inhalers into connected devices for the prevention of Asthma or COPD attacks.

For a detailed analysis of the COVID-19 Impact on Connected Drug Delivery Devices Market browse through https://univdatos.com/report/connected-drug-delivery-devices-market:-current-analysis-and-forecast-2021-2027

The integrated connected devices are expected to register the fastest CAGR in the upcoming period. The integrated connected devices segment is also sub-divided into Connected Inhaler Devices and Connected Injection Devices. Connected Inhaler Devices hold several benefits over the Connected Injection Devices because of the needleless delivery of the drug. The demand for inhalational devices in the market is increasing owing to the high prevalence of respiratory diseases such as Chronic Obstructive Pulmonary Disease (COPD), and asthma. Moreover, the Respiratory disease mortality rates are higher in the elderly population. As per US Pharmacist (The Pharmacist’s Resource for Clinical Excellence), the prevalence of physician ambulatory-care visits for respiratory diseases is highest in persons aged >85 years and is 57% and 85% lower in those aged 75 to 84 years and 65 to 74 years, respectively.

For a detailed analysis of types in Connected Drug Delivery Devices browse through https://univdatos.com/report/connected-drug-delivery-devices-market:-current-analysis-and-forecast-2021-2027

Based on Technology, the market is fragmented into Bluetooth, Near-field communication (NFC), and Other Technologies. Bluetooth sub-segment is expected to show significant growth in the forecast period owing to its high use in drug delivery devices, and its low-cost connectivity access to smartphones. The Bluetooth technology is easily available in comparison to NFC and other technologies. For example, AgaMatrix has launched a Bluetooth-enabled Jazz Wireless 2 meter for the tracking of glucose levels in the blood.  After the successful pairing of the smart device and meter, the glucose levels are automatically displayed on the app and it works with 99% accuracy. Moreover, the AgaMatrix Diabetes Manager app is available on both iOS and Android for better patient compliance.

For a detailed analysis of the product form in Connected Drug Delivery Devices Market browse through https://univdatos.com/report/connected-drug-delivery-devices-market:-current-analysis-and-forecast-2021-2027

Based on End-user, the market is divided into Healthcare Providers, Homecare, and Hospitals, and other end-users. The home care segment is expected to register the fastest CAGR from 2021 to 2028 because of the rise in product acceptance. The advantage of using these products in the homecare setting is easy administration and without the need for healthcare practitioners. Furthermore, the increasing incidents of chronic diseases such as diabetes, Chronic Obstructive Pulmonary Disease (COPD), and Cardiovascular Diseases (CVDs) are expected to fuel the homecare segment growth in the forecast period. As per the National Diabetes Statistics Report 2020, amongst the overall US population, 34.2 million people of all ages, or 10.5% of the US population had diabetes in 2018.

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For a better understanding of the market adoption of the Connected Drug Delivery Devices, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Connected Drug Delivery Devices market on account of the highly developed healthcare infrastructure, healthcare spending, and presence of many market players in the U.S. region. Furthermore, Europe is expected to be the fastest-growing connected drug delivery devices market owing to the increase in chronic diseases, large patient population, and the rising per capita animal health expenditure. Some of the major players operating in the market include Propeller Health (Reciprocal Labs Corporation), Proteus Digital Health, BIOCORP, Merck KGaA, Adherium Limited, West Pharmaceutical Services, Inc., Aterica Digital Health, Phillips Medisize, FindAir and Teva Pharmaceutical Industries Ltd.

Global Connected Drug Delivery Devices Market Segmentation

Market Insight, by Product

Connected Sensors

  • Connected Inhaler Sensors
  • Connectable Injection Sensors

Integrated Connected Devices

  • Connected Inhaler Devices
  • Connected Injection Devices

Market Insight, by Technology

  • Bluetooth
  • Near-field communication (NFC)
  • Other Technologies

Market Insight, by End-User

  • Healthcare Providers
  • Homecare
  • Hospitals
  • Other end-users

Market Insight, by Region

  • North America Connected Drug Delivery Devices Market
    • United States
    • Canada
    • Rest of North America
  • Europe Connected Drug Delivery Devices Market
    • France
    • Germany
    • Italy
    • Spain
    • United Kingdom
    • Rest of Europe
  • Asia-Pacific Connected Drug Delivery Devices Market
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia-Pacific
  • Rest of World Connected Drug Delivery Devices Market

Top Company Profiles

  • Propeller Health (Reciprocal Labs Corporation)
  • Proteus Digital Health
  • BIOCORP
  • Merck KGaA
  • Adherium Limited
  • West Pharmaceutical Services, Inc.
  • Aterica Digital Health
  • Phillips Medisize
  • FindAir
  • Teva Pharmaceutical Industries Ltd

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