Press release
Bluetooth sub-segment is Predicted to be the Dominate the Global Connected Drug Delivery Devices Market During 2021-2030
According to a new report published by Allied Market Research, titled, "Connected Drug Delivery Devices Market," The connected drug delivery devices market size was $290.30 million in 2021, and is estimated to reach $2.1 billion by 2030, growing at a CAGR of 24.3% from 2022 to 2030.Connected drug delivery devices, encompassing wireless connectivity and smart electronic features, facilitate patient-administered therapy. These devices, including auto-injectors, smart inhalers, and closed-loop solutions, have shown promise in enhancing patient adherence and minimizing dosing errors, particularly in home settings. They cater to various medical conditions such as multiple sclerosis, diabetes, liver and renal transplant recipients, hepatitis C, hypertension, asthma, tuberculosis, and clinically isolated syndrome.
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These devices enable physicians to monitor patient compliance with prescribed therapies and adjust treatments as needed. Efforts to raise awareness about the complexities of medication dosages are expected to drive the adoption of connected drug delivery devices. Patients grappling with chronic diseases like asthma and diabetes encounter challenges in medication management, prescription adherence, healthcare provider visits, and dietary balance. Connected drug delivery devices offer self-management solutions by promoting adherence to prescribed treatments.
However, a key hurdle to widespread adoption lies in the cost-effective integration of user-friendly electronic communication systems. Despite being mechanically simple and mass-produced at low cost, these devices require seamless integration into existing wireless networks, which often involves pairing procedures, passwords, apps, and subscriptions. These complexities can detract from the device's reliability and usability for patients.
The significant focus on technological advancements is driving notable growth in the market. For example, the swift adoption of nanotechnology by manufacturers has led to more precise drug delivery and enhanced drug penetration at target sites, reducing errors. Key drug manufacturers are utilizing liposomal technologies such as DepoFoam TM Technology and Non-PEGylated Technology (NPL) to achieve extended-release drug delivery, consequently lowering dosages and minimizing side effects, thereby improving patient adherence.
Moreover, the rapid adoption of advanced and intricate technologies to develop unique drugs, ensuring competitiveness, is anticipated to bolster revenue growth in the connected drug delivery devices market over the forecast period.
The global market for connected drug delivery devices is segmented by type, technology, end-user, and region. Types include injectable devices, inhalation devices, and others. Technologies encompass NFC, Bluetooth, and others. End-users are categorized into homecare settings and hospitals. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Based on type, the injectable devices sub-segment emerged as a dominating leader in 2021 and the inhalation devices are anticipated to be the fastest growing sub-segment during the forecast period
Based on technology, the NFC sub-segment emerged as the fastest growing sub-segment and the Bluetooth sub-segment is predicted to be the dominating in the upcoming years
Based on end-user, the homecare settings sub-segment emerged as the fastest growing and the hospitals sub-segment is predicated as dominating in the market during the forecast period
Based on region, the North America market registered the highest market share in 2021 and Asia-Pacific region is anticipated to be the fastest growing in the market during the forecast period.
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Syncro Technology Corp.
West Pharmaceutical Services, Inc.
Cohero Health, Inc.
Adherium
F. Hoffmann-La Roche Ltd
Proteus Digital Health
AptarGroup Inc.
PROPELLER HEALTH
Ypsomed AG
BD
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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