According to the report by Expert Market Research (EMR), the global connected drug delivery devices market size, reached a value of approximately USD 411.5 million in 2022. Aided by the surging demand for smart healthcare solutions and the expanding application of connected drug delivery devices across various sectors, the market is projected to further grow at a CAGR of 31.5% between 2023 and 2031 to reach a value of USD 4,812.8 million by 2031.
Connected drug delivery devices are cutting-edge technological innovations designed to improve patient compliance with their medication regimen. These devices are often linked to mobile applications, providing reminders for medication, tracking dosage administration, and allowing data sharing with healthcare providers. They play a pivotal role in disease management, fostering patient autonomy, and improving treatment outcomes. Besides, connected drug delivery devices offer the potential for significant cost savings in healthcare by improving adherence and reducing hospitalisation rates.
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The rising demand for smart healthcare solutions is driving the global connected drug delivery devices market growth. With an increase in the prevalence of chronic diseases and the growing awareness of efficient disease management, there has been a notable shift towards solutions that enhance patient engagement and medication adherence, such as connected drug delivery devices. Moreover, the ongoing digitisation of healthcare has further contributed to the surge in demand for these devices, as they integrate seamlessly into digital health ecosystems, offering comprehensive and personalised care.
The expanding applications of connected drug delivery devices in various healthcare sectors significantly contribute to the connected drug delivery devices market development. In chronic disease management, these devices aid in maintaining consistent medication routines, critical for conditions like diabetes, cardiovascular diseases, and respiratory disorders. In the geriatric care segment, connected drug delivery devices cater to the needs of the aging population, offering easy-to-use interfaces and remote monitoring capabilities.
Moreover, rapid advancements in healthcare technology are set to further boost the connected drug delivery devices market expansion. The development of sophisticated sensors, improved connectivity solutions, and advanced data analytics is enabling the creation of more effective and user-friendly devices, fulfilling the evolving needs of patients and healthcare providers.
Furthermore, the COVID-19 pandemic has highlighted the value of connected healthcare devices, including drug delivery systems. The ability to manage medication remotely while maintaining social distancing has led to an increased emphasis on connected drug delivery devices, thus propelling the connected drug delivery devices market expansion.
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Connected Drug Delivery Devices Market Segmentation
The market can be divided based on product type, technology, end user, and region.
Market Breakup by Product Type
• Connected Sensors
• Connected Inhaler Sensors
• Connected Injection Sensors
• Integrated Connected Devices
• Integrated Inhalation Devices
• Integrated Injection Devices
Market Breakup by Technology
• Near Field Communication (NFC)
Market Breakup by End User
• Healthcare Providers
Market Breakup by Region
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global connected drug delivery devices companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• F. Hoffmann-La Roche Ltd.
• Propeller Health
• Antares Pharma
• Novartis AG
• Sulzer Ltd.
• Gerresheimer AG
• Johnson & Johnson Services, Inc.
• Bayer AG
• GlaxoSmithKline plc.
• MEDMIX SYSTEMS AG
• Merck & Co., Inc.
• Pfizer Inc.
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