The Worldwide Connected Drug Delivery Devices Industry is Expected to Reach $2 Billion by 2030

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Jan 06, 2023, 12:45 ET

DUBLIN, Jan. 6, 2023 /PRNewswire/ -- The "Connected Drug Delivery Devices Market By Type, By Technology, By End-use: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

The global connected drug delivery devices market is envisioned to garner $2,095.2 million by 2030, growing from $290.3 million in 2021 at a CAGR of 24.29% from 2022 to 2030.

Connected drug delivery devices are integrated with capabilities that include connectivity to a wide range of digital services. These devices are being developed by various market players with an aim to support superior patient supervision and counselling. Connected drug delivery devices are equipped with several features, such as adherence trackers, dosing remainders, and patient diaries to collect health information. These devices are prominently used in the treatment of asthma, Chronic Obstructive Pulmonary Disease (COPD), diabetes, and other cardiovascular disorders.

The efficiency of drug delivery devices in therapeutic procedures along with rising usage of electronic healthcare devices are anticipated to fuel market expansion for connected drug delivery devices over the forecast period. In addition to this, it is projected that an increase in the prevalence of diabetes, COPD, and asthma will offer a lucrative potential for increasing use of connected drug delivery devices throughout the course of the forecast period.

On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities, and imposition of stringent regulations on drug delivery systems are expected to hinder the market growth. Also, lack of favorable reimbursement scenario and technology penetration in the developing economies, availability of low-cost substitutes, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period.

Furthermore, increased public-private funding for targeted research initiatives, rising air pollution levels, and an increase in product innovations and development due to global technological breakthroughs will all create lucrative opportunities for key players in the market throughout the projection period.

In the future, the market growth rate will be accelerated due to expanding number of strategic alliances, increasing Internet usage, increasing number of hospitals and laboratories, and rising per-capita expenditure on health care spending.

For instance, in February 2022, Aptar Pharma, a global leader in drug delivery systems launched a product Hero Tracker Sense, which is a next generation Metered-Dose Inhaler (MDI) add-on connected device, designed to address patient inhalation technique and adherence.

It is designed to help improve the lives of patients around the world suffering from chronic respiratory diseases such as asthma, COPD, cystic fibrosis, and other respiratory conditions caused by COVID-19, to track their MDI usage and facilitate improved adherence to their prescribed therapy.

Global distribution and sales channel disruption due to COVID-19 pandemic could be blamed for the decline in connected drug delivery devices sales. People had to face restrictions such as lockdown, social distancing, and others. During the pandemic, business processes such as production, inventory management, and distribution of goods and services have ceased, which is expected to have a significant impact on the worldwide economy.

However, the coronavirus outbreak made the high demand for simple and secure homecare setting medical devices. A healthcare provider is now able to remotely monitor a patient's medicine due to the requirement for online connectivity equipment. Owing to these factors, the COVID-19 pandemic's negative effects were decreased and the market kept expanding gradually.

The key players profiled in the connected drug delivery devices market report include Adherium, BD, Proteus Digital Health, propeller Health, F. Hoffmann-La Roche Ltd, Ypsomed AG, Cohero Health, Inc., West Pharmaceutical Services, Syncro Technology Corp., and AptarGroup Inc.

Key Benefits

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the connected drug delivery devices market analysis from 2021 to 2030 to identify the prevailing connected drug delivery devices market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the connected drug delivery devices market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global connected drug delivery devices market trends, key players, market segments, application areas, and market growth strategies.

Key Topics Covered:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pockets
3.3.Porter's five forces analysis
3.4.Top player positioning
3.5.Market dynamics
3.5.1.Drivers
3.5.2.Restraints
3.5.3.Opportunities
3.6.COVID-19 Impact Analysis on the market
3.7.Regulatory Guidelines
3.8.Value Chain Analysis
3.9.Market Share Analysis
3.10.Key Regulation Analysis
3.11.Patent Landscape

CHAPTER 4: CONNECTED DRUG DELIVERY DEVICES MARKET, BY TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 Injectable
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Inhalation Devices
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country

CHAPTER 5: CONNECTED DRUG DELIVERY DEVICES MARKET, BY TECHNOLOGY
5.1 Overview
5.1.1 Market size and forecast
5.2 Bluetooth
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 NFC
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Others
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country

CHAPTER 6: CONNECTED DRUG DELIVERY DEVICES MARKET, BY END-USE
6.1 Overview
6.1.1 Market size and forecast
6.2 Homecare
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market analysis by country
6.3 Hospitals
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country

CHAPTER 7: CONNECTED DRUG DELIVERY DEVICES MARKET, BY REGION

CHAPTER 8: COMPANY LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key developments

CHAPTER 9: COMPANY PROFILES
9.1 Adherium
9.1.1 Company overview
9.1.2 Company snapshot
9.1.3 Operating business segments
9.1.4 Product portfolio
9.1.5 Business performance
9.1.6 Key strategic moves and developments
9.2 BD
9.2.1 Company overview
9.2.2 Company snapshot
9.2.3 Operating business segments
9.2.4 Product portfolio
9.2.5 Business performance
9.2.6 Key strategic moves and developments
9.3 Proteus Digital Health
9.3.1 Company overview
9.3.2 Company snapshot
9.3.3 Operating business segments
9.3.4 Product portfolio
9.3.5 Business performance
9.3.6 Key strategic moves and developments
9.4 PROPELLER HEALTH
9.4.1 Company overview
9.4.2 Company snapshot
9.4.3 Operating business segments
9.4.4 Product portfolio
9.4.5 Business performance
9.4.6 Key strategic moves and developments
9.5 F. Hoffmann-La Roche Ltd
9.5.1 Company overview
9.5.2 Company snapshot
9.5.3 Operating business segments
9.5.4 Product portfolio
9.5.5 Business performance
9.5.6 Key strategic moves and developments
9.6 Ypsomed AG
9.6.1 Company overview
9.6.2 Company snapshot
9.6.3 Operating business segments
9.6.4 Product portfolio
9.6.5 Business performance
9.6.6 Key strategic moves and developments
9.7 Cohero Health, Inc.
9.7.1 Company overview
9.7.2 Company snapshot
9.7.3 Operating business segments
9.7.4 Product portfolio
9.7.5 Business performance
9.7.6 Key strategic moves and developments
9.8 West Pharmaceutical Services, Inc.
9.8.1 Company overview
9.8.2 Company snapshot
9.8.3 Operating business segments
9.8.4 Product portfolio
9.8.5 Business performance
9.8.6 Key strategic moves and developments
9.9 Syncro Technology Corp.
9.9.1 Company overview
9.9.2 Company snapshot
9.9.3 Operating business segments
9.9.4 Product portfolio
9.9.5 Business performance
9.9.6 Key strategic moves and developments
9.10 AptarGroup Inc.
9.10.1 Company overview
9.10.2 Company snapshot
9.10.3 Operating business segments
9.10.4 Product portfolio
9.10.5 Business performance
9.10.6 Key strategic moves and developments