DUBLIN–(BUSINESS WIRE)–The “Connected Drug Delivery Devices Market Size, Share & Trends Analysis Report by Technology (Bluetooth, NFC), by Product (Connected Sensors, Integrated Connected Devices), by End User, and Segment Forecasts, 2021 – 2028” report has been added to ResearchAndMarkets.com’s offering.
The global connected drug delivery devices market size is expected to reach USD 4.07 billion by 2028 registering a CAGR of 46.7%
Factors contributing to the growth of this market include a rise in awareness about the adverse effects of non-adherence to medication and increased adoption of IoT, patient connectivity, and engagement. The Covid-19 pandemic has further accentuated the need for “contactless” services, thereby increasing the demand for connected drug delivery devices as well as providing lucrative growth opportunities in the coming years.
Connected drug delivery devices help physicians to monitor the compliance of patients to the therapy prescribed by them as well as to modify the treatment of the patient treatment as required. A growing number of initiatives to create awareness regarding the complexities caused by overdosage or underdosage of medicines is expected to promote the adoption of connected drug delivery devices.
Patients with chronic diseases, such as asthma and diabetes, are facing challenges in managing medications, adherence to prescriptions, visiting healthcare providers, and maintaining a balanced diet. Connected drug delivery devices can be useful for self-management. These devices can aid in patient adherence to prescribed treatments, which is likely to significantly increase their adoption.
Major market players are collaborating via partnerships to enhance their market presence. For instance, in July 2020, Teva Respiratory, LLC, a U.S.-based affiliate of Teva Pharmaceutical Industries Ltd., launched the ProAir Digihaler inhalation powder. The device is a digital rescue inhaler with built-in Bluetooth wireless technology sensors for the treatment or prevention of bronchospasm.
Connected Drug Delivery Devices Market Report Highlights
- The connected sensors product segment dominated the overall market in 2020 and is projected to expand further at a steady CAGR from 2021 to 2028.
- The growth of this segment is attributed to the lower prices of connected sensors than integrated connected devices.
- North America held the dominant share in 2020 due to the quick adoption of the latest technologies as well as devices.
- The industry participants are focusing on investing in acquisitions, collaborations, product launches, and partnerships to gain a competitive edge.
- In June 2020, Propeller Health entered into a partnership with Novartis. Through this, Propeller’s digital health platform co-packaged Novartis’ Enerzair Breezhaler for effective treatment of asthmatic patients.
- The healthcare providers end-user segment accounted for the majority of the revenue share in 2020 owing to the high prevalence of various chronic diseases.
- The Bluetooth technology segment is expected to lead the global market, in terms of revenue share, owing to the easy availability and low price of this technology.
- Asia Pacific is anticipated to witness steady growth from 2021 to 2028 due to the presence of emerging economies like Japan and increasing healthcare expenditure.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Global Connected Drug Delivery Devices Market Variables, Trends & Scope
3.1 Market Driver Analysis
3.1.1 Increased Patient Connectivity And Engagement
3.1.2 Rising Patient Awareness About Adherence To Prescribed Therapies
3.2 Market Restraint Analysis
3.2.1 Increased Cost Of Devices
3.2.2 Increasing Concerns About Data Privacy And Transfer
3.3 Global Connected Drug Delivery Devices Market- SWOT Analysis, by Factor (Political & legal, Economic and Technological)
3.4 Industry Analysis – Porter’s
Chapter 4 Connected Drug Delivery Devices Market: Competitive Analysis
4.1 Innovators
4.2 Competitive Insights
4.2.1 Heat Map Analysis
4.2.2 Covid 19 Impact
4.2.2.1 Opportunity Analysis
4.2.3 List of Key Players
4.3 Healthcare App Development Cost Analysis
4.4 List of Healthcare App Development Companies
4.5 Project and Annual Maintenance Cost Analysis
Chapter 5 Global Connected Drug Delivery Devices Market: Product Estimates & Trend Analysis
5.1 Global Connected Drug Delivery Devices Market: Product Movement Analysis
5.2 Connected Sensors
5.2.1 Global connected sensors market Estimates and Forecasts, 2016 – 2028 (USD Million)
5.2.2. Connected Inhaler Sensors
5.2.3 Connectable Injection Sensors
5.3 Integrated Connected Devices
5.3.1 Global Integrated Connected Devices Market Estimates and Forecasts, 2016 – 2028 (USD Million)
5.3.2 Connected Inhalation Devices
5.3.3 Connected Injection Devices
Chapter 6 Global Connected Drug Delivery Devices Market: End-use Estimates & Trend Analysis
6.1 Global Connected Drug Delivery Devices Market: End-use Movement Analysis
6.2 Healthcare Providers
6.3 Homecare
Chapter 7 Global Connected Drug Delivery Devices Market: Technology Estimates & Trend Analysis
7.1 Global Connected Drug Delivery Devices Market: Technology Movement Analysis
7.2 Bluetooth
7.3 NFC
Chapter 8 Global Connected Drug Delivery Devices Market: Regional Estimates & Trend Analysis, By Product, Technology, and End-use
8.1 Global Connected Drug Delivery Devices Market: Regional Movement Analysis
Chapter 9 Company Profiles
- Propeller Health
- Teva Pharmaceutical Industries Ltd.
- BIOCORP
- Merck KGaA
- Adherium Limited
- West Pharmaceutical Services, Inc.
- Aterica
- Phillips Medisize
- FindAir
- Elcam Medical
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