The global connected drug delivery devices market size reached US$ 864.4 Million in 2023. Looking forward, the publisher expects the market to reach US$ 6.87 billion by 2032, exhibiting a growth rate (CAGR) of 25.92% during 2023-2032. The demand for remote monitoring and telemedicine, rising aging population, and increasing occurrence of chronic obstructive pulmonary disease (COPD) are some of the key factors strengthening the growth of the market.
Connected drug delivery devices allow remote tracking of medicine adherence and fitness parameters. This allows healthcare companies to intervene the issues early, thus supporting aging in place. An article published on the website of the World Health Organization (WHO) shows that individuals aged over 60 are expected to double by 2050, reaching nearly 2.1 billion worldwide.
Rising prevalence of chronic obstructive pulmonary disease (COPD)
As per the content updated in 2023 on the website of the World Health Organization (WHO), nearly 90% of COPD deaths in those under 70 years of age occur in low- and middle-income countries. COPD patients require precise and managed delivery of medicinal drugs which include bronchodilators and corticosteroids. Connected drug delivery devices ensure correct dosing and timely administration, which is vital for coping with COPD signs effectively. In addition, connected devices can monitor inhalation strategies and provide feedback to patients in actual-time.
This allows COPD sufferers optimize their inhalation approach, making sure that they obtain the maximum benefits from their medicines. In line with this, COPD is a revolutionary disease that requires continuous monitoring of symptoms and lung function. Connected devices permit for remote monitoring of COPD patients' fitness fame, consisting of lung feature tests and symptom monitoring, facilitating early detection of exacerbations and timely adjustments to treatment plans.
Additionally, connected drug delivery devices can be incorporated with telehealth structures, permitting healthcare companies to remotely alter medicine dosages, provide customized care plans, and monitor person development. This integration improves the performance and effectiveness of telemedicine consultations by using actionable statistics and insights directly from the patient's home.
Connected sensors enable real-time tracking and facts collection, permitting healthcare providers to remotely track patient adherence to medicinal drug regimens and physiological responses. This level of connectivity improves the quality of treatment by guaranteeing timely interventions and subsequent modification. In addition, connected sensors enhance efficient and effective patient engagement and involvement in their treatment processes. As the demand for personalized medicine is growing, connected drug delivery devices equipped with sensors provide valuable insights into patient health metrics, improving treatment efficiency and reducing healthcare costs associated with complications from non-adherence or suboptimal therapy.
Hospitals and healthcare providers prioritize patient care and safety, which are significantly enhanced by connected devices that enable precise medication administration and monitoring. Connected drug delivery devices offer real-time data on patient adherence, dosage accuracy, and treatment effectiveness, thereby improving clinical outcomes and reducing errors. Furthermore, the use of digital health solutions by the healthcare providers is rising because of better efficiency of work and utilization of resources. Smart devices work with EHRs and other hospital software and platforms, allowing them to share data seamlessly and improve the productivity of the hospital.
Bluetooth-enabled gadgets facilitate easier integration with smartphones and tablets, empowering patients to control their health effectively via user-pleasant interfaces and mobile apps. The comfort and reliability of Bluetooth connectivity is assisting the increase of connected drug delivery devices, as healthcare vendors are looking to leverage virtual fitness solutions for higher patient engagement and treatment adherence. Besides this, by means of integrating Bluetooth connectivity into drug delivery devices, key players can provide greater functionalities like remote monitoring, facts series, and real-time verbal exchange with healthcare carriers and patients.
As per the content updated in 2023 on the website of Centers for Medicare & Medicaid Services, U.S. health care spending grew 4.1 percent in 2022, reaching $4.5 trillion or $13,493 per person. The increasing healthcare expenditure reflects a greater emphasis on improving patient outcomes and reducing overall healthcare costs through innovative technologies. North America has a strong presence of pharmaceutical companies and medical device manufacturers that are investing heavily in research and development (R&D) activities of connected drug delivery devices.
These companies are leveraging advancements in Internet of Things (IoT) and digital connectivity to develop innovative devices that enhance medication adherence, patient monitoring, and overall treatment outcomes. Furthermore, favorable reimbursement policies and supportive regulatory frameworks in the region contribute to the rapid growth of this market segment.
Connected Drug Delivery Devices Market Analysis:
- Major Market Drivers: There is a rise in demand for improved patient treatment outcomes and cost of medical management.
- Key Market Trends: The growing preferences for home-based care and increasing number of chronic diseases are offering a favorable market outlook.
- Geographical Trends: North America holds the largest segment because of strong healthcare infrastructure and ongoing innovations in technology.
- Competitive Landscape: Some of the major market players in the connected drug delivery devices industry include 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., and West Pharmaceutical Services Inc., among many others.
- Challenges and Opportunities: While the market faces challenges like concerns about patient treatments data security, which impacts the market, it also encounters opportunities in maintaining electronic health records (EHR).
Connected Drug Delivery Devices Market Trends:
Growing aging population
As people are aging, they are encountering greater risk of continual ailments like diabetes, high blood pressure, and cardiovascular diseases. Connected drug delivery devices play an important role in handling those situations effectively by ensuring precise medicinal drug dosing and monitoring. Moreover, these devices can simplify those regimens through reminders, tracking dosages, and transmitting records mechanically to healthcare companies.Connected drug delivery devices allow remote tracking of medicine adherence and fitness parameters. This allows healthcare companies to intervene the issues early, thus supporting aging in place. An article published on the website of the World Health Organization (WHO) shows that individuals aged over 60 are expected to double by 2050, reaching nearly 2.1 billion worldwide.
Rising prevalence of chronic obstructive pulmonary disease (COPD)
As per the content updated in 2023 on the website of the World Health Organization (WHO), nearly 90% of COPD deaths in those under 70 years of age occur in low- and middle-income countries. COPD patients require precise and managed delivery of medicinal drugs which include bronchodilators and corticosteroids. Connected drug delivery devices ensure correct dosing and timely administration, which is vital for coping with COPD signs effectively. In addition, connected devices can monitor inhalation strategies and provide feedback to patients in actual-time.
This allows COPD sufferers optimize their inhalation approach, making sure that they obtain the maximum benefits from their medicines. In line with this, COPD is a revolutionary disease that requires continuous monitoring of symptoms and lung function. Connected devices permit for remote monitoring of COPD patients' fitness fame, consisting of lung feature tests and symptom monitoring, facilitating early detection of exacerbations and timely adjustments to treatment plans.
Thriving telemedicine sector
The report shows that the global telemedicine market reached US$ 74.7 Billion in 2023. Telemedicine platforms facilitate remote consultations between healthcare providers and patients. Connected drug delivery devices supplement telemedicine by allowing actual-time tracking of patients' medication adherence, treatment response, and fitness status. This ongoing monitoring is beneficial for continual sickness management in conditions like diabetes, high blood pressure, and respiratory illnesses.Additionally, connected drug delivery devices can be incorporated with telehealth structures, permitting healthcare companies to remotely alter medicine dosages, provide customized care plans, and monitor person development. This integration improves the performance and effectiveness of telemedicine consultations by using actionable statistics and insights directly from the patient's home.
Connected Drug Delivery Devices Market Segmentation:
The publisher provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product, end user, and technology.Breakup by Product:
- Connected Sensors
- Connected Inhaler Sensors
- Connectable Injection Sensors
- Integrated Connected Devices
- Connected Inhalation Devices
- Connected Injection Devices
Connected sensors accounts for the majority of the market share
Connected sensors enable real-time tracking and facts collection, permitting healthcare providers to remotely track patient adherence to medicinal drug regimens and physiological responses. This level of connectivity improves the quality of treatment by guaranteeing timely interventions and subsequent modification. In addition, connected sensors enhance efficient and effective patient engagement and involvement in their treatment processes. As the demand for personalized medicine is growing, connected drug delivery devices equipped with sensors provide valuable insights into patient health metrics, improving treatment efficiency and reducing healthcare costs associated with complications from non-adherence or suboptimal therapy.
Breakup by End User:
- Hospitals and Healthcare Providers
- Homecare
Hospitals and healthcare providers hold the largest share of the industry
Hospitals and healthcare providers prioritize patient care and safety, which are significantly enhanced by connected devices that enable precise medication administration and monitoring. Connected drug delivery devices offer real-time data on patient adherence, dosage accuracy, and treatment effectiveness, thereby improving clinical outcomes and reducing errors. Furthermore, the use of digital health solutions by the healthcare providers is rising because of better efficiency of work and utilization of resources. Smart devices work with EHRs and other hospital software and platforms, allowing them to share data seamlessly and improve the productivity of the hospital.
Breakup by Technology:
- Bluetooth
- NFC
- Other Technologies
Bluetooth represents the leading market segment
Bluetooth-enabled gadgets facilitate easier integration with smartphones and tablets, empowering patients to control their health effectively via user-pleasant interfaces and mobile apps. The comfort and reliability of Bluetooth connectivity is assisting the increase of connected drug delivery devices, as healthcare vendors are looking to leverage virtual fitness solutions for higher patient engagement and treatment adherence. Besides this, by means of integrating Bluetooth connectivity into drug delivery devices, key players can provide greater functionalities like remote monitoring, facts series, and real-time verbal exchange with healthcare carriers and patients.
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
North America leads the market, accounting for the largest connected drug delivery devices market share
As per the content updated in 2023 on the website of Centers for Medicare & Medicaid Services, U.S. health care spending grew 4.1 percent in 2022, reaching $4.5 trillion or $13,493 per person. The increasing healthcare expenditure reflects a greater emphasis on improving patient outcomes and reducing overall healthcare costs through innovative technologies. North America has a strong presence of pharmaceutical companies and medical device manufacturers that are investing heavily in research and development (R&D) activities of connected drug delivery devices.
These companies are leveraging advancements in Internet of Things (IoT) and digital connectivity to develop innovative devices that enhance medication adherence, patient monitoring, and overall treatment outcomes. Furthermore, favorable reimbursement policies and supportive regulatory frameworks in the region contribute to the rapid growth of this market segment.
Competitive Landscape:
- The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the connected drug delivery devices industry include 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., and West Pharmaceutical Services Inc.
- Key players continuously improving sensor technology, connectivity solutions, and mobile health applications to enhance the functionality, reliability, and user experience of connected drug delivery devices. They are also integrating connected drug delivery devices with digital health platforms and electronic medical records (EMRs) to facilitate seamless data exchange, real-time monitoring, and personalized healthcare interventions. Moreover, many companies are developing user-friendly interfaces, mobile apps, and educational resources to enhance patient engagement, adherence to treatment regimens, and self-management of chronic conditions. They are also developing connected drug delivery devices that support personalized medicine approaches, such as dose adjustments based on real-time data and patient-specific health information. For instance, in 2023, Merck, a leading science and technology company collaborated with BenevolentAI and Exscientia to strengthen AI-driven drug discovery.
Connected Drug Delivery Devices Market News:
- May 24, 2024: Adherium Limited, a leader in respiratory eHealth, remote monitoring and data management solutions, announced that AstraZeneca has selected its Hailie® Smartinhaler® platform for a clinical trial. This contract is valued at $1.1M over the course of three years.
- June 6, 2023: Novo Nordisk acquired medical device manufacturer Biocorp for €154 million.
Key Questions Answered in This Report:
- How has the global connected drug delivery devices market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global market?
- What is the impact of each driver, restraint, and opportunity on the global market?
- What are the key regional markets?
- Which countries represent the most attractive market?
- What is the breakup of the market based on the product?
- Which is the most attractive product in the connected drug delivery devices market?
- What is the breakup of the market based on the end user?
- Which is the most attractive end user in the connected drug delivery devices market?
- What is the breakup of the market based on the technology?
- Which is the most attractive technology in the connected drug delivery devices market?
- What is the breakup of the market based on the region?
- Which is the most attractive region in the connected drug delivery devices market?
- What is the competitive structure of the market?
- Who are the key players/companies in the global connected drug delivery devices market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Connected Drug Delivery Devices Market
6 Market Breakup by Product
7 Market Breakup by End User
8 Market Breakup by Technology
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 149 |
| Published | August 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 0.86 Billion |
| Forecasted Market Value ( USD | $ 6.87 Billion |
| Compound Annual Growth Rate | 25.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
