United States Connected Drug Delivery Devices Market by Product Type, Technology, Application, End-user, Region, Competition Forecast & Opportunities, 2028F

Report
74 Pages
July 2023
Region: United States
TechSci Research
ID: 5414866

The United States connected drug delivery devices market is expected to register an impressive CAGR in the forecast years. The market showed consistent growth in the historical years from 2018-2022 on account of an increase in awareness among consumers regarding the use of self-administrated and connected drug therapy. The rise in the cost of in-patient stays at healthcare facilities, along with the high demand for advanced drug delivery solutions, is expected to fuel the market demand. Improvement in the quality of patient care and compliance and the changing healthcare infrastructure is expected to boost the United States connected drug delivery devices market growth.

Connected sensors have convenient integration with the existing delivery devices, and thus they dominate the market. The segment is anticipated to dominate the United States connected drug delivery devices market in the next five years. Connected sensors do not interfere with the working of delivery devices and are reusable even if the delivery device is disposed of. Moreover, increasing cases of chronic respiratory diseases and chronic obtrusive pulmonary disease are expected to boost the demand for integrated connected drug delivery devices in the future. The smart wireless electronic systems developed for the delivery of the desired drug, commonly known as connected drug delivery devices, result in patient monitoring and counseling the patients with conditions such as asthma, diabetes, hepatitis C, hypertension, tuberculosis, Chronic Obstructive Pulmonary Diseases (COPD), etc.

Additionally, the rise in initiatives and campaigns by healthcare facilities and top authorities to promote the benefits of taking prescribed drugs at the right time and on time to ensure that patients receive effective treatment is anticipated to support the growth of the connected drug delivery devices market. Also, the awareness regarding the benefits of connected systems over the traditional drug delivery system with improved patient response is expected to accelerate the growth of the United States connected drug delivery devices market.

Rise in Prevalence of Chronic Diseases

Connected drug delivery systems support doctors in keeping track of their patients in determining the effectiveness of prescribed treatments and adjusting the patient's care as required. For instance, for people with chronic diseases such as diabetes and asthma, connected drug-delivery devices can be helpful for self-medication management. According to the Asthma and Allergy Foundation of America, in the United States, about 20 million adults below and above the age of 18 years have asthma; around 9.8% of female adults have asthma, compared to 6.1% of male adults. These factors are anticipated to boost the growth of the United States connected drug delivery devices market in the forecast years.

Increasing R&D Activities

Rapid advancements in research and development (R&D) for developing drug-delivering devices for the treatment of infectious/chronic diseases are contributing to market growth. For instance, according to several researchers, the United States spent USD607.5 billion in R&D activities, with USD101.1 billion (17%) of annual R&D spending classified as basic research. Additionally, a pharmaceutical company, namely Eli Lily, in 2021, the cooperation of four distinct businesses - Gloko Inc., DexCom Inc., Roche, and my Diabby Healthcare - works to promote connected solutions for diabetics in international markets, driving the growth of the United States connected drug delivery devices market.

Growing Awareness Amongst Patients to Boost Medication

Connected drug delivery devices offer the right dosage and administration for successful treatment without any cost-efficient interventions. According to Clinicaltrials.gov, 13 clinical trials took place for the development of connected drug delivery devices. Due to the awareness amongst people, more and more patients are adopting these delivery devices to support treatment more efficiently, thus helping to reduce the number of visits to clinics and hospitals and reduce the patient’s efforts to comply with prescribed medication. Additionally, it reduces the wastage of costly medications such as injectable biologics and is expected to fuel the growth of the United States connected drug delivery devices market.

Market Segmentation

The United States connected drug delivery devices market is segmented by product type, technology, application, end-user, company, and regional distribution. Based on product type, the market is further fragmented into connected sensors and integrated connected devices. Based on technology, the market is further fragmented into Bluetooth, near-field communication, and others. Based on application, the market is further fragmented into asthma & COPD, diabetes, and others. Based on end-user, the market is segmented into healthcare providers and homecare.

Company Profiles

Abbott Laboratories, Inc., F. Hoffmann-La Roche Ltd. (USA), Reciprocal Labs Corporation (Propeller Health), Teva USA, Merck & Co., West Pharmaceutical Services, Inc., Molex LLC (Phillips Medisize), Cohero Health, Inc., Becton, Dickinson, and Company, Unilife Corporation, etc. are some of the key players operating in the United States Connected Drug Delivery Devices Market.

Report Scope

In this report, United States connected drug delivery devices market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below: