Press release
Connected Drug Delivery Devices Market: Exponential Growth Ahead, Reaching $21.92 Billion by 2029
Connected Drug Delivery Devices Market Size
What Is The Projected Market Size Of The Global Connected Drug Delivery Devices Market And Its Growth Rate?
The global connected drug delivery devices market size is expected to witness substantial growth:
• From $7.48 billion in 2024 to $9.29 billion in 2025, representing a compound annual growth rate (CAGR) of 24.2%.
• Projected to reach $21.92 billion in 2029 with a CAGR of 23.9%.
The considerable rise in market size can be attributed to the rapidly increasing cost of medical management, prevalence of chronic diseases, embracement of preventive care, and adoption of connected devices in laboratories and hospitals.
What Is Driving The Growth In The Connected Drug Delivery Devices Market?
The escalating importance of remote patient monitoring is a significant growth driver for the connected drug delivery device market. Remote monitoring technologies facilitate a seamless method of tracking patient health and medical data, enhancing prospects for personalized care management. The rise in implementation of remote patient monitoring among clinicians has seen a staggering increase of 305% in recent years, signaling a clear indication of market growth for the connected drug delivery devices industry.
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Who Are the Key Players Driving Connected Drug Delivery Devices Market Growth?
The leading players in the connected drug delivery devices market include:
• Pfizer Inc.
• Johnson & Johnson
• Bayer AG
• AstraZeneca PLC
• Abbott Laboratories
• Novartis AG
• Medtronic PLC
• Eli Lilly and Company
• Amgen Inc.
• Boehringer Ingelheim International GmbH
• Novo Nordisk A/S
• Merck Group
• Becton Dickinson and Company
• GlaxoSmithKline PLC
• Phillips-Medisize Corporation
• AptarGroup Inc.
• Dexcom Inc.
• West Pharmaceutical Services Inc.
• Insulet Corporation
• OPKO Health Inc.
• Tandem Diabetes Care Inc.
• Ypsomed AG
• Meridian Medical Technologies LLC
• Propeller Health
• Findair Sp. z.o.o.
What Are The Key Trends In The Connected Drug Delivery Devices Market?
Leading companies in the connected drug delivery devices market are focusing on major trends such as:
• Increasing R&D activities
• Surge in technological innovation and connectivity of devices
• Rapid adoption of machine learning and artificial intelligence
• Implementation of telehealth platforms integrated with AR/VR technologies
• Increasing adoption of electronic technology in healthcare devices
What Are The Segments Of The Global Connected Drug Delivery Devices Market?
The global connected drug delivery devices market is segmented based on:
• Type: Standalone Components And Software, Integrated Devices
• Technology: Bluetooth, Near-Field Communication (NFC), Other Technologies
• Administration: Parenteral, Inhalational
• Application: Asthma, Chronic Obstructive Pulmonary Disease, Diabetes Management, Other Applications
Which Region Leads The Connected Drug Delivery Devices Market?
In 2024, North America was the largest region in the connected drug delivery devices market. Future market growth, however, is expected to be driven by other regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Connected Drug Delivery Devices Market Report?
- Market Size Analysis: Analyze the Connected Drug Delivery Devices Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Connected Drug Delivery Devices Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Connected Drug Delivery Devices Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Connected Drug Delivery Devices Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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