IMARC Group, a leading market research company, has recently released a report titled “Connected Drug Delivery Devices Market Report by Product (Connected Sensors, Integrated Connected Devices), End User (Hospitals and Healthcare Providers, Homecare), Technology (Bluetooth, NFC, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the connected drug delivery devices market trends, size, share and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global connected drug delivery devices market size reached US$ 864.4 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 6,879.9 Million by 2032, exhibiting a growth rate (CAGR) of 25.1% during 2024-2032.
Request to Get the Sample Report: https://www.imarcgroup.com/connected-drug-delivery-devices-market/requestsample
Factors Affecting the Growth of the Connected Drug Delivery Devices Industry:
- Rapid Technological Advancements in Medical Devices:
The rapid pace of technological advancements in medical devices is propelling the market growth. Moreover, the burgeoning integration of the Internet of Things (IoT) technology into drug delivery systems that revolutionize patient care by enhancing device functionality and enabling real-time monitoring is boosting the market growth. In addition to this, the development of smart devices, such as connected inhalers, insulin pumps, and wearable injectors, that offer features like dose tracking, adherence monitoring, and data sharing with healthcare providers is catalyzing the market growth. These advancements improve therapeutic outcomes and foster patient engagement and self-management of chronic conditions.
- Increasing Prevalence of Chronic Diseases:
The growing prevalence of chronic diseases, such as diabetes, asthma, and cardiovascular conditions, is bolstering the market growth. In line with this, the growing need for long-term medication management, creating the demand for effective and reliable drug delivery systems, is fueling the market growth. Connected devices ensure timely and accurate drug administration, which is vital for disease management and prevention of complications. For instance, the rise in diabetes cases, leading to increased demand for smart insulin pumps and continuous glucose monitors, which provide real-time data and alerts to patients and healthcare providers, is enhancing the market growth.
- Growing Focus on Patient-Centered Care:
The growing emphasis on patient-centered care is another significant factor driving the market growth. Along with this, the rising prioritization of healthcare systems on patient engagement and empowerment, recognizing their roles in improving health outcomes, is stimulating the market growth. Connected drug delivery devices enable patients to monitor their medication usage, receive reminders, and access educational resources, thus promoting adherence and informed decision-making. Additionally, the data collected by these devices can be shared with healthcare providers, allowing for more personalized and responsive care.
Speak to An Analyst: https://www.imarcgroup.com/request?type=report&id=3738&flag=C
Connected Drug Delivery Devices Market Report Segmentation:
By Product:
- Connected Sensors
- Connected Inhaler Sensors
- Connectable Injection Sensors
- Integrated Connected Devices
- Connected Inhalation Devices
- Connected Injection Devices
Connected sensors represented the largest segment due to their widespread adoption in monitoring and ensuring medication adherence.
By End User:
- Hospitals and Healthcare Providers
- Homecare
Hospitals and healthcare providers accounted for the largest market share owing to the high volume of patients requiring continuous medication management and monitoring.
By Technology:
- Bluetooth
- NFC
- Other Technologies
Bluetooth represented the largest segment due to its ubiquitous presence in consumer electronics and reliable short-range communication capabilities.
Regional Insights:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
North America’s dominance in the connected drug delivery devices market is attributed to advanced healthcare infrastructure, high adoption of innovative technologies, and strong regulatory support.
Global Connected Drug Delivery Devices Market Trends:
The increasing adoption of telemedicine and digital health platforms, driven by the need for remote patient management, is acting as a growth-inducing factor. In addition to this, the burgeoning integration of blockchain technology for secure data management, addressing concerns regarding patient data privacy and security, is positively impacting the market growth. Along with this, the rising partnerships between pharmaceutical companies and tech firms to foster innovation and the development of next-generation connected devices are providing a considerable boost to the market growth.
Top Companies Operated in Connected Drug Delivery Devices Industry:
- Adherium Ltd.
- BioCorp Production
- Cohero Health Inc. (AptarGroup Inc.)
- Elcam Medical ACS. Ltd
- Findair Sp. z o. o.
- Merck KGaA
- Phillips Medisize (Molex LLC)
- Propeller Health (Resmed Inc.)
- Teva Pharmaceutical Industries Ltd.
- West Pharmaceutical Services Inc.
Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145