Connected Drug Delivery Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

The market is expected to grow at a steady CAGR forecast till 2028 owing to the increasing prevalence of chronic diseases such as diabetes and improving healthcare it infrastructure across the globe
Globally connected drug delivery devices market is estimated to grow at a CAGR of 23.59% during the forecast period from 2023 to 2028. The demand for connected drug delivery devices is primarily being boosted by the increasing geriatric population and rising prevalence of chronic diseases owing to the growing prevalence of lifestyle disorders. In addition, the superior outcomes of the connected drug delivery devices such as setting alarms and alerts for the dose administration, continuous examination of the dose regimen and disease condition, and others to improve patient treatment outcomes will lead to an increased demand of the device. Further, the rising awareness about adherence to prescribed therapies and self-administration of drugs and innovation in product development among others are thereby contributing to the overall growth of the connected drug delivery devices market during the forecast period from 2023-2028.

Connected Drug Delivery Devices Market Dynamics:

The International Diabetes Federation (IDF) Diabetes Atlas Tenth edition 2021 provided the latest figures, which stated that in 2021, approximately 537 million adults (20-79 years) were living with diabetes, globally. Also, the total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. The same source stated that more than 1.2 million children and adolescents (0-19 years) across the globe were living with type 1 diabetes, in 2021 and nearly 541 million adults were at increased risk of developing type 2 diabetes. The increasing prevalence of diabetes will increase the demand for insulin patches, pens, infusion pumps, and others; which are a type of connected drug delivery device ultimately driving the overall market growth.

The increasing patient engagement and connectivity due to the rising penetration of the Internet of Things (IoT) in the medical devices sector are likely to bode well for the market growth during the forecast period. According to a report published by Internet World Stats, in 2021 nearly 5,385,798,406 users were using the internet and in 2022 approximately 7,932,791,734 users were using the internet regularly. The incorporation of the internet with medical devices will, in turn, propel the demand for connected drug delivery devices as these devices are connected to the internet for their smooth flow.

Another important factor driving the market growth is the rising need to improve patient medication adherence. As more patients use connected drug delivery devices, they will be able to manage their treatment more efficiently by reducing the number of visits to clinics and hospitals. Connected devices aid in proper dosage and administration, resulting in a successful treatment without the need for costly secondary interventions. These systems also include reminders and adherence trackers, which make it easier for patients to stick to their medication regimen.

Moreover, various strategic activities such as collaboration, acquisitions, and partnerships, among others are also propelling the market growth. For instance, in May 2021, Eli Lilly and Company collaborated with 4 companies- Glooko Inc., DexCom, Inc., Roche, and myDiabby Healthcare- to advance connected solutions for diabetics in markets outside of the US. The diabetes management platforms being offered by the companies are expected to be compatible with Lilly's Tempo Pen (available in various markets across the globe) and Tempo Smart Button (in late-stage development) to support diabetes patients.

Therefore, the above-mentioned factors are contributing to the growth of the connected drug delivery devices market during the forecast period from 2023-2028.

However, security and data breaching concerns, environmental concerns for the disposal of electronic waste, and others may restrict the connected drug delivery devices market growth.

The connected drug delivery devices market experienced a period of a temporary setback as lockdown restrictions were enforced as a necessary step to curb the spread of COVID-19. The demand for connected drug delivery devices was disrupted owing to the lack of resources, raw materials, and manpower. However, the demand increased significantly with the availability of connected drug delivery devices over e-commerce platforms. This led to an increased thrust in the manufacturing of connected drug delivery devices. Also, the connected drug delivery devices provided treatment to patients in a homecare setting, thereby avoiding frequent visits to healthcare professionals for dose administration. The physicians were able to track the dose regimen of a patient regularly through the connected drug delivery devices. Henceforth, the afore-said factors propelled the demand for connected drug delivery devices during the pandemic and are estimated to grow similarly during the forecast period.

Connected Drug Delivery Devices Market Segment Analysis:

Connected Drug Delivery Devices Market by Product (Connected Sensors [Connected Inhaler Sensors and Connectable Injection Sensors] and Integrated Connected Devices [Connected Inhaler Devices and Connected Injection Devices], Technology (Bluetooth, Near-Field Communication (NFC), and Others), End-User (Healthcare Providers and Homecare), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the product segment of the connected drug delivery devices market, the bluetooth category is expected to amass significant revenue share in the year 2022. This can be ascribed to the higher utilization of technology to connect drug delivery devices to smartphones.

Moreover, higher compatibility of Bluetooth technology with other drug delivery devices and ease of use are expected to drive the Bluetooth segment over the forecast period.

The increasing strategic activities by the key players will also drive the market of Bluetooth-connected drug delivery devices. For instance, in October 2022, ALCOR a French company specializing in the design, development, and manufacturing of innovative medical devices, and Merck KGaA, Darmstadt, Germany, a leading science, and technology company, agreed in the development and supply of a specific version of Mallya device as an accessory for one of Merck KGaA, Darmstadt, Germany's drug delivery devices. Mallya is a Bluetooth-enabled clip-on device for pen injectors that collects the dose and time of each injection and transfers information in real-time to companion software.

Also, in July 2020, Novartis receives EC approval for Enerzair® Breezhaler which is used as a maintenance treatment of asthma in adult patients. The inhaler is connected to the app using Bluetooth technology.

Therefore, the advantages offered by Bluetooth-connected drug delivery devices are predicted to contribute to the increasing demand for this product type thereby driving the growth of the overall connected drug delivery devices market during the forecast period.

North America is expected to dominate the overall Connected Drug Delivery Devices Market:

Among all the regions, North America is estimated to account for the largest share of the connected drug delivery devices market in the year 2022. Owing to the significance of key growth factors like 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 also helped the market growth in this region.

Further, the United States holds the major share in North America and the globally connected drug delivery devices market, one of the key reasons includes the rising prevalence of asthma, diabetes, and others in the US population. As per the Asthma and Allergy Foundation America, in 2020, there are more than 25 million Americans that were having asthma. This is 7.7 percent of adults and 8.4 percent of children. Asthma has been increasing since the early 1980s in all ages, sex, and racial groups. Therefore, in such cases, connected drug delivery systems such as inhalers prove to be beneficial for the improvement of patient adherence in the direction of prescribed medications by physicians, hence driving the regional market during the forecast period (2023-2028).

Furthermore, the rise in the number of patients suffering from diabetes will also lead to an increase in the demand for connected drug delivery devices, thereby leading to an overall rise in the drug delivery devices market growth. For instance, according to the Centers for Disease Control and Prevention 2022, in the year 2021, around 37.3 million people were suffering from diabetes, that had accounted for about 11.3% of the US population. As per the same source, in the year 2021, around 28.7 million people, accounting for about 28.5 million adults were diagnosed with diabetes in the United States.

Coupled with the factors mentioned above, the increasing product launches and approvals also help in boosting regional product demand. For instance, in December 2020, AireHealth, a Floridian startup focused on the respiratory health space, landed an FDA 510(k) clearance for its connected nebulizer VitalMed. The portable device is made of electronic vibrating mesh and is designed to nebulize medication for the inhaler at home. Patients can connect the tool to a corresponding app, called VitalCompanion, which can track a patient's symptoms, support their adherence efforts, and connect to providers. Thus, such strategic steps help to increase the demand for connected drug delivery devices, thereby driving the North America connected drug delivery devices market forward during the forecast period.

Connected Drug Delivery Devices Market Key Players:

Some of the key market players operating in the connected drug delivery devices market include 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 others.

Recent Developmental Activities in the Connected Drug Delivery Devices Market:

• In July 2022, Adherium Limited, a leader in respiratory eHealth, remote monitoring, and data management solutions, announced that it has 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 February 2022, Aptar Pharma announced the launch of HeroTracker Sense, a breakthrough digital respiratory healthcare system that transforms a typically metered dosage inhaler into a smart linked healthcare system.
• In June 2020, Propeller Health entered into a partnership with Novartis. By entering into the partnership, Propeller's digital health platform will co-package Novartis' Enerzair Breezhaler to effectively treat patients suffering from asthma.

Key Takeaways From the Connected Drug Delivery Devices Market Report Study

• Market size analysis for current connected drug delivery devices market size (2022), and market forecast for 5 years (2023-2028)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the connected drug delivery devices market.
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global connected drug delivery devices Market.
• Various opportunities available for the other competitor in the connected drug delivery devices market space.
• What are the top-performing segments in 2022? How these segments will perform in 2028.
• Which are the top-performing regions and countries in the current connected drug delivery devices market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for connected drug delivery devices market growth in the coming future?

Target Audience who can be benefited from this Connected Drug Delivery Devices Market Report Study

• Connected drug delivery devices products providers
• Research organizations and consulting companies
• Connected drug delivery devices-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in connected drug delivery devices
• Various End-users who want to know more about the connected drug delivery devices market and the latest technological developments in the connected drug delivery devices market.

Frequently Asked Questions for the Connected Drug Delivery Devices Market:

1. What are connected drug delivery devices?

The wirelessly connected and smart electronic devices that allow patient-administered therapy is known as connected drug delivery devices. These drug delivery devices are loaded with electronics and sensors that track dose delivery and timing and provide immediate feedback to patients.

2. What is the market for global connected drug delivery devices?

Globally connected drug delivery devices market is estimated to grow at a CAGR of 23.59% during the forecast period from 2023 to 2028.

3. What are the drivers for the global connected drug delivery devices market?

The demand for connected drug delivery devices is primarily being heightened by the increasing prevalence of chronic diseases and also due to the surging geriatric burden prone to chronic ailments. In addition, rising awareness regarding self-administered therapy, increasing patient connectivity and engagement, increasing product launches and approvals, and innovation in product development thereby contribute to the overall growth of the connected drug delivery devices market during the forecast period from 2023-2028.

4. Who are the key players operating in the global connected drug delivery devices market?

Some of the key market players operating in the connected drug delivery devices market include 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 others.

5. Which region has the highest share in the connected drug delivery devices market?

North America is expected to dominate the overall connected drug delivery devices market during the forecast period from 2023-2028. 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, the North American connected drug delivery devices market is expected to witness positive growth. Furthermore, high disposable income, sophisticated healthcare infrastructure, regulatory approval for new products, and high awareness also helped the market growth in this region.


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