Global Connected Drug Delivery Devices Market - 2022-2029
Market Overview
The global connected drug delivery devices market size was valued US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028).
Smart wireless electronic systems used to facilitate patient observation and counseling in home settings are connected drug delivery devices. They come with dose reminders, adherence trackers, sensors, and monitoring tools, as well as education and feedback systems for tailored patient care. They are more convenient and cost less than clinic-based treatment. As a result, remote monitoring of patients with asthma, diabetes, hepatitis C, hypertension, TB, multiple sclerosis, clinically isolated syndrome, chronic obstructive pulmonary disease (COPD), and liver and renal transplant recipients is commonplace.
Market Dynamics
The rapid adoption of internet of things (IoT) technology in the healthcare sector allows for real-time patient analysis and monitoring, ensuring appropriate treatment. The market is projected to be strengthened as customers become more aware of self-administered and connected drug therapy benefits.
Rising awareness regarding self-administered therapy will spur the connected drug delivery devices market expansion
The number of connected drug delivery devices is increasing astounding, owing to increased awareness of self-administered therapy. The introduction of new technology has resulted in increased connectivity and medication accuracy. These devices increased patient compliance and improved health care. Elcam's FlexiQ eMU-P connected autoinjector, for example, is a self-administration device for home use. The device is simple to use, and it protects the patient from needle stick injuries both before and after use. FlexiQ eMU-P verifies dosage and allows physicians to monitor adherence remotely. The market has grown enormously due to technological advancement and device connectivity. Furthermore, increased remote patient monitoring, significant R&D in medical drug delivery systems, and widespread acceptance of these devices will all help the sector thrive.
One of the key issues driving demand for connected drug delivery systems is the fast-rising cost of medical management and the growing desire to improve patient treatment results. A shift in consumer preferences toward home-based care also boosts the market growth. Furthermore, the increased number of people suffering from chronic diseases and a growing emphasis on preventive treatment favorably impact the industry. Also, the industry is being driven by the increased use of linked devices in laboratories and hospitals to keep electronic health records (EHR). Aside from that, several companies are developing gadgets that can link to apps and programs, transfer data, automate tracking, and improve patient safety. Biopharma companies increasingly use connected medication delivery devices to determine adherence improvement outcomes for regulators, payers, and patients since they enable access to real-time patient data.This contributes to the growth of the global connected drug delivery devices market.
Security concerns regarding patient data is likely to hamper the market growth
Concerns about patient data security may hamper the industry's growth. A breach in data security could result in massive losses of confidential information such as medical records, insurance IDs containing social security and bank information, medical details, and location. This may harm the manufacturer's reputation. Cybersecurity threats could endanger hospitals, patients, and third-party service providers. Such serious and critical threats associated with connected drug delivery device solutions may have a negative impact on market revenue over the forecast timeframe.
COVID-19 Impact Analysis
According to medical device manufacturers, the sale of connected drug delivery devices fell slightly during the COVID-19 pandemic. The sales drop could be attributed to global distribution and sales channel disruption. During the pandemic, people were subjected to restrictions, which reduced the rate of disease diagnosis and screening. In addition, the pharmaceutical industry's R&D was hampered by the failure of the clinical trial on connected drug delivery devices. However, due to the coronavirus outbreak, the need for user-friendly and safe homecare solutions became acute. The requirement for online connectivity devices allows a healthcare professional to monitor a patient's medication remotely.As a result of these factors, the negative impact of the COVID-19 pandemic was mitigated, and the market continued to grow steadily.
Segment Analysis
The injectable devices reaction segment is expected to grow at the fastest CAGR during the forecast period (2021-2028)
The injectable devices, inhalation devices & others market category is divided into two types. The injectable device segment is expected to take up the largest share of the market. Certain variables, such as the multiple advantages offered by smart injectable devices over traditional injectable devices and the rising prevalence of chronic diseases, such as cancer, brain disorders, diabetes, and others, are driving the injectable devices segment forward.Furthermore, the growing diabetic population, rising diabetes-related healthcare expenditures, and increasing product launches for diabetes treatment would boost connected drug delivery device revenue. According to the World Health Organization, diabetes affects more than 422 million people worldwide, resulting in 1.6 million deaths per year. Genetic reasons, acceptance of unhealthy lifestyles, unsanitary eating habits, and other causes are all blamed for the high incidence rate.
Furthermore, throughout the projection period, the injectable devices segment is expected to rise significantly due to the efforts of several drug makers to develop smart injectable devices.For instance Nemera launched Safe'n'Spray device. Safe'n'Spray is an integrated device that monitors drug delivery and prevents overdosing by using a reusable electronic locking mechanism and fingerprint identification. Safe'n'Spray is designed to meet the special needs of regulating the amounts given to patients over a set period of time in order to avoid overdosing.
Geographical Analysis
North America region holds the largest market share of global connected drug delivery devices market
North American region will hold the biggest market share because of the high cost of healthcare per capita, and the rapid adoption of innovative technologies in healthcare institutions, the industry's growth will be aided by the increasing use of integrated devices and the quick acceptance of wireless and Wi-Fi-enabled remote drugs delivery systems. The presence of key market leaders in the region and advanced medical device applications are fueling the growth of the connected drug delivery device business in North America.
Rising awareness of the cost benefits of linked drug delivery devices and rapid adoption of medical technology in China, India, and other countries are creating tremendous prospects for market expansion. Implementation of intensive marketing strategies by market participants increased healthcare spending and predicted the development of key companies' distribution networks are some of the fundamental drivers augmenting the connected delivery devices market in the rest of the world.
Competitive Landscape
The connected drug delivery devices market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Adherium, DelSiTech , Merck ,Phillips Medisize ,Nemera, BioCorp, Findair , Propeller Health ,West Pharmaceutical Services, Teva Pharmaceutical ,Elcam Medical ACS Ltd. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the connected drug delivery devices market globally. For instance June 2021, Adherium Limited has filed a 510(K) application with the US Food and Drug Administration (FDA) for the market clearance of their first-generation Hailie sensor, which includes physiological measures to track asthma and COPD medication use.
Key Developments
In March 2021, Jabil Healthcare, a branch of Jabil Inc., collaborates on medication delivery device technology with E3D, a member of the Elcam Medical Group. Jabil now has access to E3D's reusable mechanical auto-injector thanks to a strategic partnership the two companies just formed. Jabil will also have exclusive rights to develop a high-volume reusable auto-injector and related variants under the terms of the agreement.
In November 2019, Lupin has announced the release of ADHERO, a new connected smart device that is a metered-dose inhaler for patients with chronic respiratory diseases. This device allows patients to track their MDI usage and improve their adherence to therapy.
In October 2020,Teva Respiratory has announced that it would create and host its digital health platform with Amazon Web Services (AWS) and Onica.
Teva Pharmaceutical Industries Ltd
Overview: Teva Pharmaceutical Industries Ltd is a company that develops, manufactures, and sells generic and specialty drugs. The company specializes in treating the central nervous system (CNS), respiratory, dermatological, cancer, women's health, and other therapeutic areas with specialty pharmaceuticals. It sells generic pharmaceuticals in capsules, tablets, injectables, liquids, inhalants, creams, and ointments, among other dosage forms. Aside from active medicinal components, Teva also sells over-the-counter (OTC) drugs (APIs). Its main focus is on the development of new generic medications. The company's global activities are managed through a network of subsidiaries in North America, Europe, and International Markets. Teva's main office is in Tel Aviv, Israel.
Product Portfolio:
ProAir Digihaler: The sensors on the ProAir Digihaler connect to a companion smartphone app, which sends inhaler usage data to healthcare providers. The ProAir Digihaler detects, records, and stores inhaler event data, including timestamps and inhalation characteristics like peak inspiratory flow. Patients may then access this information on the app, which tells them if their inhaler technique needs improvement. Patients can share this information with their doctors. In December 2018, the FDA authorized the ProAir Digihaler. The AirDuo Digihaler delivers fluticasone propionate and salmeterol inhalation powder, while the ArmonAir Digihaler administers fluticasone propionate. The digital AirDuo and ArmonAir inhalers are for the maintenance treatment of asthma in children aged 12 and up.
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Target Audience
Service Providers/ Buyers
Industry Investors/Investment Bankers
Education & Research Institutes
Research Professionals
Emerging Companies
Manufacturers
Market Segmentation
Global Connected Drug Delivery Devices Market– By Technology
Injectable Devices
Inhalation Devices
Others
Global Connected Drug Delivery Devices Market- By Technology
Bluetooth
Near Field Communication
Wi-Fi
Global Connected Drug Delivery Devices Market- By Application
Anaphylaxis
Respiratory
Cardiovascular
Diabetes
Hormone Replacement
Global Connected Drug Delivery Devices Market– By End User
Hospitals
Clinics
Homecare Settings
Others
Global Connected Drug Delivery Devices Market- By Region
North America
Europe
Asia-Pacific
Middle East & Africa
South America
- 1. Global Connected Drug Delivery Devices Market Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Global Connected Drug Delivery Devices Market– Market Definition and Overview
- 3. Global Connected Drug Delivery Devices Market– Executive Summary
- 3.1. Market Snippet by Device Type
- 3.2. Market snippet by Technology
- 3.3. Market snippet by Application
- 3.4. Market snippet by End User
- 3.5. Market Snippet by Region
- 4. Global Connected Drug Delivery Devices Market– Market Dynamics
- 4.1. Market Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. Rising patient awareness about adherence to prescribed therapies.
- 4.1.1.2. Rapidly moving healthcare IT infrastructure.
- 4.1.1.3. Soaring adoption of machine learning, and artificial intelligence.
- 4.1.1.4. Rising implementation of telehealth platform integrated with AR/VR technologies.
- 4.1.2. Restraints:
- 4.1.2.1. High cost of instrument.
- 4.1.2.2. Security concerns regarding patient data
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
- 5. Global Connected Drug Delivery Devices Market– Industry Analysis
- 5.1. Porter's Five Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 5.5. Reimbursement Analysis
- 6. Global Connected Drug Delivery Devices Market– COVID-19 Analysis
- 6.1. Analysis of Covid-19 on the Market
- 6.1.1. Before COVID-19 Market Scenario
- 6.1.2. Present COVID-19 Market Scenario
- 6.1.3. After COVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid Covid-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
- 7. Global Connected Drug Delivery Devices Market– By Device Type
- 7.1. Introduction
- 7.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Device Type Segment
- 7.1.2. Market Attractiveness Index, By Device Type Segment
- 7.2. Injectable Devices*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis, US$ Million, 2018-2028 and Y-o-Y Growth Analysis (%), 2020-2028
- 7.3. Inhalation Devices
- 7.4. Others
- 8. Global Connected Drug Delivery Devices Market– By Technology
- 8.1. Introduction
- 8.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%),By Technology
- 8.1.2. Market Attractiveness Index, By Technology
- 8.2. Bluetooth*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis, US$ Million, 2018-2028 and Y-o-Y Growth Analysis (%), 2020-2028
- 8.3. Near Field Communication
- 8.4. Wi-Fi
- 9. Global Connected Drug Delivery Devices Market– By Application
- 9.1. Introduction
- 9.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%),By Application
- 9.1.2. Market Attractiveness Index, By Application
- 9.2. Respiratory*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis, US$ Million, 2018-2028 and Y-o-Y Growth Analysis (%), 2020-2028s
- 9.3. Cardiovascular
- 9.4. Diabetes
- 9.5. Hormone Replacement
- 10. Global Connected Drug Delivery Devices Market– By End User
- 10.1. Introduction
- 10.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End User
- 10.1.2. Market Attractiveness Index, By End User Segment
- 10.2. Hospitals*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis, US$ Million, 2018-2028 and Y-o-Y Growth Analysis (%), 2020-2028
- 10.3. Clinics
- 10.4. Homecare Settings
- 10.5. Others
- 11. Global Connected Drug Delivery Devices Market– By Region
- 11.1. Introduction
- 11.1.1. Market Size Analysis, US$ Million, 2018-2028 and Y-o-Y Growth Analysis (%), 2020-2028, By Region
- 11.1.2. Market Attractiveness Index, By Region
- 11.2. North America
- 11.2.1. Introduction
- 11.2.2. Key Region-Specific Dynamics
- 11.2.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Device Type
- 11.2.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
- 11.2.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
- 11.2.6. Market Size Analysis ,and Y-o-Y Growth Analysis (%), By End User
- 11.2.7. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
- 11.2.7.1. U.S.
- 11.2.7.2. Canada
- 11.2.7.3. Mexico
- 11.3. Europe
- 11.3.1. Introduction
- 11.3.2. Key Region-Specific Dynamics
- 11.3.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Device Type
- 11.3.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
- 11.3.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
- 11.3.6. Market Size Analysis, and Y-o-Y Growth Analysis (%),By End User
- 11.3.7. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
- 11.3.8.
- 11.3.8.1. Germany
- 11.3.8.2. U.K.
- 11.3.8.3. France
- 11.3.8.4. Italy
- 11.3.8.5. Spain
- 11.3.8.6. Rest of Europe
- 11.4. South America
- 11.4.1. Introduction
- 11.4.2. Key Region-Specific Dynamics
- 11.4.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Device Type
- 11.4.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
- 11.4.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
- 11.4.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End User
- 11.4.7. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
- 11.4.7.1. Brazil
- 11.4.7.2. Argentina
- 11.4.7.3. Rest of South America
- 11.5. Asia Pacific
- 11.5.1. Introduction
- 11.5.2. Key Region-Specific Dynamics
- 11.5.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Device Type
- 11.5.4. Market Size Analysis, and Y-o-Y Growth Analysis (%),By Technology
- 11.5.5. Market Size Analysis, and Y-o-Y Growth Analysis (%),By Application
- 11.5.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End User
- 11.5.7. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
- 11.5.7.1. China
- 11.5.7.2. India
- 11.5.7.3. Japan
- 11.5.7.4. Australia
- 11.5.7.5. Rest of Asia Pacific
- 11.6. Middle East and Africa
- 11.6.1. Introduction
- 11.6.2. Key Region-Specific Dynamics
- 11.6.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Device Type
- 11.6.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
- 11.6.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
- 11.6.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End User
- 12. Global Connected Drug Delivery Devices Market– Competitive Landscape
- 12.1. Key Developments and Strategies
- 12.2. Company Share Analysis
- 12.3. Product Benchmarking
- 12.4. Key Companies to Watch
- 13. Global Connected Drug Delivery Devices Market- Company Profiles
- 13.1. Teva Pharmaceuticals*
- 13.1.1. Company Overview
- 13.1.2. Product Portfolio and Description
- 13.1.3. Key Highlights
- 13.1.4. Financial Overview
- 13.2. Adherium
- 13.3. DelSiTech
- 13.4. Merck
- 13.5. Phillips Medisize
- 13.6. Nemera
- 13.7. BioCorp
- 13.8. Findair
- 13.9. Propeller Health
- 13.10. West Pharmaceuticals Services
- 13.11. Elcam Medical ACS Ltd
- LIST NOT EXHAUSTIVE
- 14. Global Connected Drug Delivery Devices Market– DataM
- 14.1. Appendix
- 14.2. About Us and Services
- 14.3. Contact Us
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