Healthcare

Global Connected Drug Delivery Devices Market

February 18, 2022
ID: SR/HC-189
Format:Pdf
Pages:220

Global Connected Drug Delivery Devices Market, By Product Type (Injectable Devices, Inhalation Devices and Others), By Technology (Bluetooth, NFC and Others), By End-Users (Homecare Settings and Hospitals), By Region (North America, Europe, Asia-Pacific, South America and the Middle East & Africa)-Global Forecast to 2028.

Description

The estimated global connected drug delivery devices market size was at USD 272.10 Million in 2021, and it is expected to reach 4167.8 Million in 2028 with a CAGR of 35.6% during the forecast period of 2022-2028. Augmented patient attention and connectivity owing to the growing penetration of the Internet of Things (IoT) in the medical instruments sector is predicted to propel the market. The demand has encountered exponential enlargement due to the rising market for drug delivery solutions utilized at home. The product is expected to continue to notice massive evolution in the hereafter, owing to the rising focus on the present direction of improved patient observation and quality of supervision, growing awareness concerning production footprint and associated expenses, and increasing use of self-administered and connected drug treatment.

What are Connected Drug Delivery devices?

The connected drug delivery devices are unified with abilities connecting to an expansive range of digital services. Different market players create these devices to support outstanding patient supervision and counseling. Connected drug delivery devices include many features, such as keeping trackers, dosing reminders, and patient diaries to manage health data and tools for patient instruction. These devices are prominently operated to treat asthma, chronic obstructive pulmonary disease (COPD), diabetes, and different cardiovascular disorders.

Growth Drivers

Growing Technology in Healthcare Devices

Raising the adoption of electronic technology in healthcare devices connected with the efficiency of drug delivery devices in medical procedures is expected to propel the market growth of the connected drug delivery devices during the forecast period. Combined with this, an increasing preponderance of asthma, COPD, and diabetes is foreseen to deliver a lucrative prospect for the expanded adoption of connected drug delivery devices during the forecast period. For example, according to an analysis conducted by the Centers for Disease Control and Prevention (CDC), in 2016, a calculated 26.5 million people in the U.S. had asthma.

Furthermore, distinct factors, such as supplementing healthcare expenses, rising disposable incomes, and increasing attention to connected devices in growing nations, are projected to push the market growth of connected drug delivery devices by years.

Opportunities

Greatest Procedural Outcomes of Connected Drug Delivery Devices to Boost Growth

Can drug delivery devices be connected with smartphones using Near Field Communications (NFC) and Bluetooth, allowing dose monitoring and dosing remainder mechanisms? Additionally, these devices offer patient education tools that minimize dosing procedures’ errors, resulting in a reduction in hospitalization and treatment expenses. For example, a study instructed by Propeller Health, one of the major participants in connected drug delivery devices, states that, in 2016, patients who operated sensor-connected inhalers detected an estimated 60.0%decreases in the hospital visiting during the investigation. Additionally, increasing research and development activities are projected to offer more different establishments to the patients, ultimately driving the connected drug delivery devices market by 2026.

Restraints

Security problems concerning patient data may restrict the market progression.

Security problems regarding patient data may hinder the industry’s growth. Data security violations may lead to massive losses of confidential information such as medical records, insurance I.D.s, social security and bank details, medical details, and location. It may adversely influence the manufacturer’s importance. Cybersecurity dangers might pose a serious risk to hospitals, patients, and third-party assistance providers. Such severe and critical dangers associated with connected drug delivery solutions may hinder the market income over the forecast timeframe.

Pre Covid-19 Impact on Global Connected Drug Delivery Devices Market

Before the covid-19 outbreak, the increasing majority of chronic diseases, such as asthma, COPD, and diabetes, construct considerable opportunities to develop the connected drug delivery devices market. For example, according to a Global Burden of Disease investigation, in 2015, the preponderance of COPD increased by an evaluated 14.7% during 1990-2015. Additionally, there is an incremental selection transformation from manual drug delivery devices to connected drug delivery devices due to their superior benefits, leading to increased demand for the connected drug delivery devices.

Covid-19 Impact on Global Connected Drug Delivery Devices Market

During the COVID-19 outbreak, the medical appliance manufacturers noticed a minute drop in the sale of connected drug delivery devices. Might register the drop in sales due to disturbance in the global distribution and sales channel. During the covid-19 explosion, assessed restrictions on the people who rejected the diagnosis and screening of diseases. Also, R&D performed by the pharmaceutical industry hindered along with the faltering of the clinical practice on connected drug delivery devices. However, on the performance of the coronavirus situation, the demand for user-friendly and safe homecare solutions came into strong focus. The requirement for online connectivity devices promotes a healthcare professional to keep track of the patients’ medication. Therefore, owing to such factors, minimized the unfavorable effect of the COVID-19 pandemic, and the market showcased steady growth.

Post Covid-19 Impact on Global Connected Drug Delivery Devices Market

After the covid-19 outbreak, the growing penetration of the IoT in medical instruments will push market growth. A nasal inhalation is a functional analysis for delivering CNS drugs to transit the blood-brain impediment and biologics. This domain is predicted to detect investments by market participants in the coming years. According to On Drug Delivery, in 2021, the connected drug delivery devices market is anticipated to concentrate on enhancing the consequences and knowledge for particular patients. For instance, Propeller Health has managed around 60 connected medical programs to highlight technological challenges associated with the administration of drug delivery devices and has counted value to connected drug delivery devices. These devices help doctors observe patients’ adherence to the therapy specified by them treatments as demanded.

By Product Type Segmental Analysis

In terms of product type segment, the market is classified into injectable devices, inhalation devices & others. The injectable devices segment is calculated to account for the greatest share of the market. Specific aspects, such as the countless advantages of smart injectable devices over the standard injectable devices and an increasing prevalence of chronic disorders, namely, cancer, neural disorders, diabetes, and others, are actively contributing to the growth of the injectable devices segment.

By Technology Segmental Analysis

Based on the technology segment, the market is bifurcated into Bluetooth, NFC, and others. The Bluetooth technology segment is calculated for the largest earnings share of 65.3% in 2020, owing to the increased use of Bluetooth technology in drug delivery devices. With the improvements in this technology, the feature is anticipated to detect considerable augmentation in the coming years. Moreover, the technology is more affordable and easily obtainable than NFC and other technologies.

Furthermore, the technology is favorably embraced for drug identification and tracking. The other feature will display the fastest CAGR of 57% from 2021 to 2028. Cellular technologies prove helpful in transmitting data in connected drug delivery devices. Moreover, these devices overcome the boundaries, such as the condition of a hub and a direction device.

By End-User Segmental Analysis

Based on End-User Segment, the end-User segment bifurcated into home care settings and hospitals. The home care settings component is calculated to monopolize the market throughout the forecast period. Growing adoption of the connected drug delivery devices owing to a requirement to deliver better patient knowledge, related to a rise in the majority of COPD and asthma, is launched to offer a significant share of growth for this segment in the connected drug delivery devices market.

By Regional Segmental Analysis

Based on regional segment, the market is bifurcated into North America, Europe, Asia-Pacific, South America and The Middle East & Africa. North America connected drug delivery devices market valued 45% of income allocation in 2020 due to high per capita healthcare expense and rapid adoption of creative technologies in healthcare establishments. Moreover, the growing use of combined devices and the rapid acceptance of wireless & wi-fi-enabled remote drug delivery systems will stimulate the industry’s growth. Also, major market leaders in the region and advanced applications of medical devices are some of the elements increasing the industry development of connected drug delivery devices in North America.

Competitors Segmental Analysis

The companies included are Proteus Digital Health, Ypsomed Holding, F. Hoffmann-La Roche Ltd, B.D., West Pharmaceutical Services, ResMed Company, Adheium, Cohere Health, Inc. and other prominent players in the global Connected Drug Delivery Devices market.

Key stakeholders

Market research and consulting firms
Connected Drug Delivery Devices providers
Suppliers
Retailers
Medical Research organizations and consulting companies
Regulatory bodies
Technology Providers

Recent Developments

June 2021 – Adherium Limited declared that they introduced their 510(k) application to the U.S. FDA for the market discharge of their first-generation Hailie sensor, which has physiological measurements to Monitor Asthma and COPD pharmaceutical use.
November 2019 – Lupin declared the establishment of a new connected smart device, ADHERO, a metered-dose inhaler for patients with chronic respiratory disorders. This device enables the patients to track their MDI use and improves their commitment to the treatment.

Scope of the Report

Report Attribute	Details
Market Size Value in 2021	USD 272.10 Million
The revenue forecast in 2028	USD 4167.8 Million
Growth Rate	CAGR of 35.6 % from 2022 to 2028.
Historical data	2018 – 2021
Forecast period	2022 – 2028
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Proteus Digital Health, Ypsomed Holding, F. Hoffmann-La Roche Ltd, B.D., West Pharmaceutical Services, ResMed Company, Adheium, and Cohere Health, Inc. are key players.

Market Modelling

By Product Type

Injectable Devices
Inhalation Devices
Others

By Technology

Bluetooth
NFC
Others

By End-Users

Homecare Settings
Hospitals

By Region

North America
Europe
Asia-Pacific
South America
The Middle East & Africa

Table Of Contents

Methodology

Request Sample

Frequently Asked Questions (FAQ):

What are Connected Drug Delivery Devices?

What is the growth rate of the global Connected Drug Delivery Devices market?

What are the growth elements of the global Connected Drug Delivery Devices market?

Increasing adoption of electronic technology in healthcare devices connected with the efficiency of drug delivery devices in medical procedures is expected to propel the market growth of the connected drug delivery devices during the forecast period.

Which region is expected to have the largest share in the global Connected Drug Delivery Devices market?

North America region is expected to have the largest share in the global Connected Drug Delivery Devices market.

Who are the major key players in the global Connected Drug Delivery Devices market?

The companies include Proteus Digital Health, Ypsomed Holding, F. Hoffmann-La Roche Ltd, B.D., West Pharmaceutical Services, ResMed Company, Adheium, and Cohere Health, Inc. are the major players in the global Connected Drug Delivery Devices market.

Select License

We Accept

Analyst support

After evaluating your requirements and addressing your technical problems, the expert analyst will resolve your query directly.

Customer satisfaction

According to your needs, our expert team will assist you with the capabilities, services, and proper research needs to be required and customize the report accordingly.

Inimitable expertise

Our expert team will create unrivaled reviews to provide you with a deep understanding of the reports.

Assured quality

We have created a systematic way to determine standards and satisfy your expectations.

Instant delivery

Unlike others, we provide you a great deal of instant delivery in the form of PDF/PPT/Word Doc directly to your email address within 24 hours after receiving full payment.

Privacy policy

We understand the inkling of your privacy, we will never misuse your email address.

Custom research service

We are giving you an opportunity through which you can directly ask our expert analyst to customize an exclusive study of the report to serve your research needs.

Quality & accuracy

We provide you with the accurate quality of the customized study of an exclusive report according to your research need.

Data visualization

As the business world’s growing faster every day, we understand the value of data management. We will create the reports by keeping all the visual data sets and metrics in the charts.

Information security

We truly respect your privacy and promise to keep your personal and confidential information safe and secure.