Global Connected Drug Delivery Devices Market to Grow at a CAGR of 31.5% During 2024-2032, Aided by the Rising Demand for Connected Drug Delivery Solutions to Enhance Healthcare

The adoption of drug-delivery capabilities to improve clinical and healthcare services and outcomes is increasing. As connected drug delivery devices can facilitate various services like adherence monitoring, training, and benefit tracking, the market is witnessing a healthy growth.

Clinicians are also preferring the deployment of connected drug delivery devices with embedded sensors and electronics to relay information regarding volume, time, and site of self-administration. Moreover, the growing demand for connected drug delivery devices to provide real-time insights to consumers by providing them access to their treatment data and the response of the body to their prescribed medication is likely to invigorate the market in the forecast period.

The increasing launches of innovative connected medical devices by the leading companies are augmenting the connected drug delivery devices market. In July 2020, the United States affiliate of Teva Pharmaceutical Industries Ltd. (NYSE: TEVA), Teva Respiratory, LLC., announced the launch of ProAir Digihaler Inhalation Powder, its digital rescue inhaler with built-in sensors. The inhaler is advised for patients aged four years and above for the prevention or treatment of exercise-induced bronchospasm and bronchospasm with reversible obstructive airway disease.

The device launched by Teva Respiratory connects to its mobile application through its built-in Bluetooth wireless technology sensors and provides information regarding the inhaler. It also records, detects, and stores inhaler event data such as peak respiratory flow and timestamps, enabling patients to view such records under its app. This would aid patients in improving the management and assessment of their conditions. The availability of the device would enhance the company’s portfolio in the United States.

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Market Analysis by Type, Technology, End Use, and Region:

• The connected drug delivery devices market, on the basis of type, can be divided into connected sensors and integrated connected devices, among others.

• Based on technology, the market can be divided into near field communication (NFC) and Bluetooth, among others.

• The major end uses of connected drug delivery devices include hospitals and homecare.

• The regional markets for connected drug delivery devices include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The surging patient engagement and connectivity and the rising demand for efficient drug delivery solutions are propelling growth of the connected drug delivery devices market.

• The growing awareness regarding the benefits of connected delivery solutions is driving the growth of the market. 

• The market for connected drug delivery devices is being fuelled by the rising incidences of chronic respiratory diseases and the growing awareness regarding the advantages of inhalation devices.

• Advancements in Bluetooth and NFC technologies are expected to propel the market growth of connected drug delivery devices.

Key Offerings of the Report: 

• The EMR report gives an overview of the global connected drug delivery devices market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, technologies, end uses, and major regions of connected drug delivery devices.

• It assesses the regional price trends for the historical (2018-2023) and forecast (2024-2032) periods.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global connected drug delivery devices market are Adherium Limited, Propeller Health, Teva Pharmaceutical Industries Ltd., Phillips-Medisize (Molex, LLC), and Elcam Drug Delivery Devices, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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