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

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 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. '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)'

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.

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.

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.