Connected Drug Delivery Devices Market to Account for USD 4.07 Billion by 2028

 Connected Drug Delivery Devices Market Growth & Trends

The global connected drug delivery devices market size is expected to reach USD 4.07 billion by 2028 registering a CAGR of 46.7%, according to a new report by Grand View Research, Inc. 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.

Request a free sample copy or view report summary: Connected Drug Delivery Devices Market Report

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

Connected Drug Delivery Devices Market Segmentation

Grand View Research has segmented the global connected drug delivery devices market on the basis of product, end user, technology, and region:

Connected Drug Delivery Devices Product Outlook (Revenue, USD Million, 2016 - 2028)

• Connected Sensors
  • Connected Inhaler Sensors
  • Connectable Injection Sensors
• Integrated Connected Devices
  • Connected Inhalation Devices
  • Connected Injection Devices

Connected Drug Delivery Devices End-user Outlook (Revenue, USD Million, 2016 - 2028)

• Healthcare Providers
• Homecare

Connected Drug Delivery Devices Technology Outlook (Revenue, USD Million, 2016 - 2028)

• Bluetooth
• NFC
• Other Technologies

Connected Drug Delivery Devices Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia

List of Key Players Connected Drug Delivery Devices Market

• Propeller Health
• Teva Pharmaceutical Industries Ltd.
• BIOCORP
• Merck KGaA
• Adherium Ltd.
• West Pharmaceutical Services, Inc.
• Aterica
• Phillips Medisize
• FindAir
• Elcam Medical

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.