Connected Drug Delivery Devices Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Connected Drug Delivery Devices Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Connected Drug Delivery Devices Market

The connected drug delivery devices market size was valued at USD 361.1 million in 2018, and the market is now projected to grow USD 25810.9 million in 2032 exhibiting a CAGR of 35.7% during the forecast period of 2019-2032.

The connected drug delivery devices market was affected by the COVID-19 pandemic because consumers innovated toward self-monitoring and chronic medication compliance due to distance-learning and remote working constraints. Restrictions in the supply chain and limitations in production affected the market at the beginning, but the demand for telemedicine and home care become critical during the pandemic. Smart appliances emerged into the limelight for the remote control of some diseases such as asthma, diabetes, and COPD during lockdowns. Manufacturers also continued to pay attention to connectivity types in devices to fulfill increased patient requirements. All these changes have become permanent, and they have introduced new trends in the delivery of connected drugs on the market.

Such diseases as asthma, COPD, and diabetes are increasing over time, and this has its impact on the growth of connected drug delivery devices. The Global Burden of Disease study estimated that COPD rates rose 14.7% between 1990 and 2015. This trend shows the increasing need for innovation in drug delivery systems. These devices enhance compliance to medication and self-care thus being potential markets. In addition, increasing patient pool across the global boosts the market evolution.

The opportunity of connected drug delivery devices is high now due to the use of new technologies and constant development of digital health technologies. The market size of services was amounted to USD 4.84 billion in 2022 and is projected to increase at CAGR 23.4% from 2023 to 2030. Innovative factors like enhancing patient medication compliance, doing some research and development activities and of course, the rapid COVID-19 that exponentially escalated the remote digital monitoring. In the same regard, the advance in chronic diseases and the enhanced partnership as well as investment activities are supporting the growth of the market. North America held the largest connected drug delivery devices market share in 2022 with 35.68% mainly due to early technology adoption, high standards of health care, and changing patient awareness of the negative consequences of non-com obedience. The market is expected to bring USD 25.6 billion by 2030.

Comprehensive Analysis of Connected Drug Delivery Devices Market

The connected drug delivery devices market growth is also increasing exponentially because of the segmentation of its market. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by type analysis, by technology analysis, and by end user analysis. By type analysis incudes injectable devices and inhalation devices & others. By technology analysis incudes Bluetooth, near field communication (NFC), and others. By end user analysis incudes homecare settings and hospitals.

The North America region lead the connected drug delivery devices market share by benefitting a market size of USD 253.0 million in 2018 due to its increasing awareness about connected drug delivery devices.

Top players in the market have their responsibility of healthcare industrial prospectus growth of the retailing industry and the markets. These players include, Akros Silicon, Inc., Cisco Systems, Inc., Eaton Lighting, GENISYS PoE Lighting Systems, Igor, Inc., Maxim Integrated Products, Inc., NuLEDs, Inc., Platformatics Inc., Signify Holding (Philips), and Texas Instruments Incorporated these market players provide a level-playing competitive landscape.

In January 2021, Netgear launched the MS510TXM and MS510TXUP switches, featuring multi-gig support, Wi-Fi 6 compatibility, and IEEE Ultra60 PoE++ for up to 60W power per port.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2015-2026

Base Year 2018

Forecast Period 2019-2026

Historical Period 2015-2017

Unit Value (USD million)

Segmentation By Type

Injectable Devices

Inhalation Devices and Others

By Technology

Bluetooth

NFC (Near Field Communication)

Others

By End User

Homecare Settings

Hospitals

By Region

North America

Europe

Asia Pacific

Rest of the WorldPlease Note: It will take 5-6 business days to complete the report upon order confirmation.