USD 3.89 billion
Connected Drug Delivery Devices Market Size, Share, Growth Analysis, By Type(Inhalers, connected insulin pens, connected autoinjectors, and connected smart pill bottles), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35G2246 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
37
|Figures:
74
Connected Drug Delivery Devices Market Insights
Connected Drug Delivery Devices Market size was valued at USD 4.84 billion in 2022 and is poised to grow from USD 6.01 billion in 2023 to USD 34.28 billion by 2031, growing at a CAGR of 24.3% in the forecast period (2024-2031).
The market insight of the global connected drug delivery devices market indicates a significant growth trajectory driven by the increasing adoption of digital health solutions and the need for personalized healthcare.
These devices offer real-time data tracking, reminders, and notifications to patients, healthcare providers, and caregivers, ensuring better medication management and improved patient outcomes.
The integration of advanced technologies such as IoT, AI, and cloud computing in drug delivery devices has revolutionized the healthcare industry, enhancing patient engagement and enabling remote monitoring. The market is poised for substantial growth as healthcare systems worldwide embrace digital transformation and prioritize patient-centric care.
US Connected Drug Delivery Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
inhalers
Fastest Growth
inhalers
Growth Rate
24.3% CAGR
Global Connected Drug Delivery Devices Market ($ Bn)
Country Share for North America Region (%)
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Connected Drug Delivery Devices Market Segmental Analysis
The global connected drug delivery devices market is segmented by type and region. Based on type, the market can be segmented into inhalers, connected insulin pens, connected autoinjectors, and connected smart pill bottles. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Connected Drug Delivery Devices Market Analysis by Type
Among the different types, connected inhalers are the dominant sub-segment in the market. The connected features allow for tracking of medication usage, dosage reminders, and monitoring of inhalation technique, providing valuable insights for healthcare professionals and patients.
The fastest growing sub-segment of type in the connected drug delivery devices market is expected to be connected insulin pens. With the increasing prevalence of diabetes worldwide, the demand for connected insulin pens is rising. The integration of connectivity features in insulin pens allows for better management and monitoring of diabetes, leading to improved patient outcomes and enhanced self-management capabilities.
Global Connected Drug Delivery Devices Market By Type
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Connected Drug Delivery Devices Market Regional Insights
One dominant region in the global connected drug delivery devices market is North America. With its advanced healthcare infrastructure, strong presence of key market players, and high adoption of connected healthcare technologies, North America has emerged as a leading region in the connected drug delivery devices market. The region has witnessed significant investments in research and development, technological advancements, and government initiatives to promote digital health solutions. The presence of major pharmaceutical companies and increasing collaborations between healthcare providers and technology companies further contribute to the dominance of North America in the market.
One of the fastest-growing regions in the global connected drug delivery devices market is the Asia Pacific region. The region is experiencing rapid growth due to factors such as a large patient population, increasing healthcare expenditure, and rising awareness about advanced healthcare technologies. Countries like China, India, and Japan are at the forefront of this growth, driven by the expanding healthcare infrastructure, growing adoption of digital health solutions, and the presence of a large pharmaceutical market. The increasing focus on personalized medicine and remote patient monitoring in the region also contributes to the growth of the connected drug delivery devices market in the Asia Pacific region.
Global Connected Drug Delivery Devices Market By Geography
- Largest
- Fastest
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Connected Drug Delivery Devices Market Dynamics
Connected Drug Delivery Devices Market Drivers
Increasing Demand For Personalized And Connected Healthcare Solutions
- One key driver of the global connected drug delivery devices market is the increasing demand for personalized and connected healthcare solutions. Connected drug delivery devices offer several benefits such as remote patient monitoring, real-time data collection, and improved medication adherence. These devices enable healthcare providers to track patient health, adjust treatment plans, and provide personalized care. The integration of connected technologies with drug delivery devices also enhances patient engagement and improves treatment outcomes. Additionally, the growing prevalence of chronic diseases and the need for advanced drug delivery systems contribute to the market growth of connected drug delivery devices.
Connected Drug Delivery Devices Market Restraints
High Cost Associated With These Devices
- One significant restraint of the global connected drug delivery devices market is the high cost associated with these devices. Connected drug delivery devices require advanced technologies, wireless connectivity, and data management systems, which can increase the overall cost of the devices. This can pose a challenge for widespread adoption, particularly in low-resource settings and developing countries where cost considerations play a crucial role. The affordability and accessibility of connected drug delivery devices remain key barriers, limiting their adoption among certain patient populations and healthcare systems. Addressing the cost concerns and ensuring affordability will be essential to drive the broader adoption and market growth of connected drug delivery devices.
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Connected Drug Delivery Devices Market Competitive Landscape
The global connected drug delivery devices market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of connected drug delivery devices. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions.
Connected Drug Delivery Devices Market Top Player’s Company Profiles
- Medtronic (United States)
- Johnson & Johnson (United States)
- Roche (Switzerland)
- Novartis (Switzerland)
- Pfizer (United States)
- GlaxoSmithKline (United Kingdom)
- Bayer (Germany)
- Abbott Laboratories (United States)
- Eli Lilly and Company (United States)
- Merck & Co., Inc. (United States)
- Sanofi (France)
- AstraZeneca (United Kingdom)
- Boehringer Ingelheim (Germany)
- Amgen (United States)
- Bristol-Myers Squibb (United States)
- Takeda Pharmaceutical Company Limited (Japan)
- Novo Nordisk (Denmark)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Mylan N.V. (Netherlands)
- Sun Pharmaceutical Industries Ltd. (India)
Connected Drug Delivery Devices Market Recent Developments
- In January 2023, MedTech Solutions unveiled a breakthrough connected inhaler device that integrates real-time data monitoring and patient support features.
- In March 2023, LifeTech Innovations introduced a smart insulin pen with built-in connectivity capabilities. The device wirelessly syncs with a mobile app to track insulin doses, blood glucose levels, and provide insulin dose recommendations.
- In June 2023, HealthLink Technologies launched a connected smart patch for transdermal drug delivery. The patch uses advanced sensors and wireless connectivity to monitor drug absorption, skin temperature, and patient vitals.
Connected Drug Delivery Devices Key Market Trends
- One key market trend in the global connected drug delivery devices market is the increasing adoption of smart inhalers and connected devices for respiratory therapies. These devices are equipped with sensors, wireless connectivity, and mobile applications to monitor and track patients' medication usage, dosage, and adherence. The integration of digital technologies in drug delivery devices enables real-time data collection, remote monitoring, and personalized treatment plans. This trend promotes patient engagement and empowerment by providing them with valuable insights and feedback on their medication usage.
Connected Drug Delivery Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global connected drug delivery devices market is witnessing significant growth due to advancements in healthcare technology and the increasing demand for personalized and connected healthcare solutions. The market is driven by factors such as the rising prevalence of chronic diseases, the need for remote patient monitoring, and the integration of digital health platforms. The growing focus on connected drug delivery devices reflects the industry's shift towards personalized and connected healthcare solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.84 billion |
| Market size value in 2031 | USD 34.28 billion |
| Growth Rate | 24.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Connected Drug Delivery Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Connected Drug Delivery Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Connected Drug Delivery Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Connected Drug Delivery Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Connected Drug Delivery Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Connected Drug Delivery Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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