The Global Connected Drug Delivery Devices Market is Predicted to Exhibit Remarkable Growth at a Tremendous CAGR of ~24% by 2028 | DelveInsight

New York, USA, April 04, 2023 (GLOBE NEWSWIRE) — The Global Connected Drug Delivery Devices Market is Predicted to Exhibit Remarkable Growth at a Tremendous CAGR of ~24% by 2028 | DelveInsight

The connected drug delivery devices market is expected to grow positively owing to the growing geriatric population and the rising prevalence of chronic diseases as a result of lifestyle disorders. Furthermore, the superior outcomes of connected drug delivery devices, such as setting alarms and alerts for dose administration, continuous examination of the dose regimen and disease condition, and others to improve patient treatment outcomes, will increase device demand.

DelveInsight’s Connected Drug Delivery Devices Market Insights report provides the current and forecast market analysis, individual leading connected drug delivery devices companies’ market shares, challenges, connected drug delivery devices market drivers, barriers, and trends, and key connected drug delivery devices companies in the market.

Key Takeaways from the Connected Drug Delivery Devices Market Report

• As per DelveInsight estimates, North America is anticipated to dominate the global connected drug delivery devices market during the forecast period. 
• Notable connected drug delivery devices companies such as Findair Sp. z o. o., Adherium, Propeller Health., West Pharmaceutical Services, Inc., BIOCORP, Phillips-Medisize, Merck KGaA, Novo Nordisk A/S, Medtronic, Tandem Diabetes Care, Inc., Ypsomed, Teva Pharmaceutical Industries Ltd., Elcam Medical, Cohero Health, Inc., BD., and several others are currently operating in the connected drug delivery devices market.
• In October 2022, BIOCORP, a French company specializing in the design, development, and manufacturing of innovative medical devices, and Merck KGaA agreed to collaborate on the development and supply of a specific version of the Mallya device as an accessory for one of Merck KGaA’s drug delivery devices in Darmstadt, Germany.
• In July 2022, Adherium Limited, a leader in respiratory eHealth, remote monitoring, and data management solutions, announced that it had received U.S. Food and Drug Administration (FDA) 510(k) clearance to market application connecting GlaxoSmithKline’s (GSK) Ellipta® inhaler users with Adherium’s new, next-generation Hailie sensor with physiological parameters for monitoring Asthma and COPD medication use.
• In May 2022, Jabil Healthcare, a division of Jabil Inc., announced the launch of the QfinityTM autoinjector platform, a simple, reusable, and modular solution for subcutaneous (SC) drug self-administration at a lower cost than market alternatives — supporting the pharmaceutical industry’s emerging priority of sustainable drug delivery.
• In February 2022, Aptar Pharma launched HeroTracker Sense, a breakthrough digital respiratory healthcare system that transforms a typically metered dosage inhaler into a smart linked healthcare system.

To read more about the latest highlights related to the connected drug delivery devices market, get a snapshot of the key highlights entailed in the Global Connected Drug Delivery Devices Market Report

Connected Drug Delivery Devices Overview

Smart wireless electronic systems known as connected drug delivery devices are used to support patient monitoring and counseling in residential settings. They include sensors, adherence trackers, dose reminders, and monitoring systems that provide real-time feedback and educational resources for individualized patient care. They are more convenient and less expensive than clinic-based treatment. As a result, connected drug delivery devices are frequently used in the remote monitoring of patients with conditions such as asthma, diabetes, hepatitis C, hypertension, tuberculosis, multiple sclerosis, clinically isolated syndrome, Chronic Obstructive Pulmonary Disease (COPD), and recipients of liver and kidney transplants.

Connected Drug Delivery Devices Market Insights

North America is expected to have the largest share of the connected drug delivery devices market in 2023 out of all regions. The significance of key growth factors such as the rising prevalence of chronic diseases such as respiratory diseases, hypertension, and diabetes, among others, the aging population prone to chronic diseases, and rising government initiatives regarding disease awareness of self-administration of drugs using connected drug delivery devices is driving the North America connected drug delivery devices market and expected to witness positive growth. Furthermore, high disposable income, sophisticated healthcare infrastructure, regulatory approval for new products, and high awareness aided market growth in this region.

To know more about why North America is leading the market growth in the connected drug delivery devices market, get a snapshot of the Connected Drug Delivery Devices Market Outlook 

Connected Drug Delivery Devices Market Dynamics

Diabetes is becoming more common, which will increase demand for insulin patches, pens, infusion pumps, and other connected drug delivery devices, ultimately driving the connected drug delivery devices market growth. Rising patient engagement and connectivity due to the Internet of Things (IoT) penetration in the medical devices sector are expected to boost connected drug delivery devices market growth during the forecast period. 

Another major factor driving connected drug delivery devices market expansion is the growing need to improve patient medication adherence. Patients who use connected drug delivery devices will be able to manage their treatment more efficiently by reducing the number of clinic and hospital visits. Connected devices help with proper dosage and administration, resulting in a successful treatment that does not require costly secondary interventions. Reminders and adherence trackers are also included in these systems, making it easier for patients to stick to their medication regimen. Furthermore, various strategic activities such as collaboration, acquisitions, and partnerships, among others, are driving the connected drug delivery devices market growth.

However, security and data breach concerns, environmental concerns about disposing of electronic waste, and other factors may limit the growth of the connected drug delivery devices market.

Additionally, the connected drug delivery devices market for connected drug delivery devices suffered a temporary setback as lockdown restrictions were imposed as a necessary step to combat the spread of COVID-19. A scarcity of resources, raw materials, and labor hampered the demand for connected drug delivery devices. However, the availability of connected drug delivery devices via e-commerce platforms increased demand significantly. This resulted in a greater emphasis on developing connected drug delivery devices.

Furthermore, the connected drug delivery devices provide treatment to patients in a homecare setting, avoiding the need for frequent visits to healthcare professionals for dose administration. Physicians could track a patient’s dose regimen regularly through connected drug delivery devices. As a result, the factors as mentioned above propelled the demand for connected drug delivery devices during the pandemic and are expected to do so again during the forecast period.

Get a sneak peek at the connected drug delivery devices market dynamics @ Connected Drug Delivery Devices Market Dynamics Analysis

Connected Drug Delivery Devices Market Assessment

• Connected Drug Delivery Devices Market Segmentation
  • Market Segmentation By  Product: Connected Sensors (Connected Inhaler Sensors and Connectable Injection Sensors) and Integrated Connected Devices (Connected Inhaler Devices and Connected Injection Devices)
  • Market Segmentation By  Technology: Bluetooth, Near-Field Communication (NFC), and Others
  • Market Segmentation By End User: Healthcare Providers and Homecare
  • Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
• Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

Which MedTech key players in the connected drug delivery devices market are set to emerge as the trendsetter explore @ Connected Drug Delivery Devices Companies 

Table of Contents 

Interested in knowing the connected drug delivery devices market by 2028? Click to get a snapshot of the Connected Drug Delivery Devices Market Trends

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DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance.