Connected Drug Delivery Devices Market: Global Industry Analysis and Forecast (2023-2029)

Connected Drug Delivery Devices Market size was valued at USD 1219.93 Mn. in 2022 and the total Connected Drug Delivery Devices revenue is expected to grow at a CAGR of 36.10% from 2023 to 2029, reaching nearly USD 10552.30 Mn.
Connected Drug Delivery Devices Market Overview:
The Connected drug delivery devices combine qualities such as connection to a wide range of online services. Numerous market participants are developing devices to help in improved patient monitoring and therapy. Many features of connected drug delivery systems include adherence monitors, dosage reminders, and patient records to collect health information, as well as options for patient education. These devices are widely utilized in the treatment of asthma, COPD, diabetes, and other cardiovascular diseases.

The growing utilization of electronic technology in healthcare devices, together with the efficacy of drug delivery devices in treatment processes, is expected to drive the growth of the connected drug delivery devices market during the forecast period. In addition, rising rates of asthma, COPD, and diabetes are expected to provide a lucrative opportunity for increased use of connected drug delivery devices and increased market revenue throughout the forecast period.

During the Covid-19 outbreak, the market has increased at an increasing rate because of increased demand for drug delivery systems that could be utilized at home. The product is expected to grow significantly during the forecast period as well, owing to a growing emphasis on the current trend of improved patient compliance and quality of care, increased awareness of production footprint and associated costs, and increased use of self-administered and connected drug therapy.To know about the Research Methodology:-Request Free Sample Report
Connected Drug Delivery Devices Market Dynamics:
High Prevalence of Chronic Diseases

The rising prevalence of chronic illnesses such as asthma, COPD, and diabetes throughout the globe is generating significant opportunities for the connected drug delivery devices market to thrive. For instance, in January 2022, a report on diabetes prevalence estimates for 2021 published by the National library of medicine, National center for biotechnology information estimated the prevalence of diabetes in 20-79 years old in 2021 to be 10.5% and may rise to 12.2% by 2045. Diabetes is expected to be equally prevalent in men and women, with the highest prevalence among individuals aged 75-79 years.

COPD and asthma are two of the most common lung diseases around the globe. According to the World Health Organization, COPD is the third leading cause of death globally, accounting for 3.23 million deaths in 2019. More than 80% of these deaths occurred in low- and middle-income countries. COPD affects about 380 million people across the globe. Patients with undiagnosed COPD are common in China, India, Brazil, and Eastern Europe. COPD costs healthcare systems throughout the globe USD 50 billion per year.

According to the WHO, around 262 million people had asthma in 2019, with 0.5 million fatalities. Asthma morbidity and mortality remain major problems, and no drug has succeeded in disease normalization. Globally, an additional 100 million asthmatic patients are expected to be recorded by the end of the forecast period. Asthma affects one out of every twelve individuals in the United States, and Europe has around ten million people over the age of 45. Every day, up to 1,000 people are expected to die from asthma.

Besides that, due to their greater benefits, there is a progressive movement in preference from manual drug delivery systems to linked drug delivery devices. Increased focus on preventative medicine is one of the prominent factors expected to increase the implementation of connected drug delivery devices during the forecast period.

High Operational Performance of Connected Drug Delivery Devices

Connected drug delivery gadgets can be linked to smartphones using Near Field Communications (NFC) and Bluetooth, allowing for dosage monitoring and dosing control mechanisms. However, these devices include patient education tools that reduce mistakes in dosing processes, resulting in lower hospitalization and treatment expenses. For example, in one of the leading companies in linked medicine delivery devices, patients who used sensor-connected inhalers had a 60.0% reduction in hospital visits during the study in 2016. Likewise, increased initiatives in the research and development sector are expected to provide more services to patients, driving the connected drug delivery devices market revenue growth during the forecast period.

High Penetration rate of Cutting-edge Technologies

The increased usage of cutting-edge technology in the Connected Drug Delivery Devices driving the Connected Drug Delivery Devices industry growth during the forecast period. Major market participants are manufacturing efficient connected drug delivery systems by utilizing cutting-edge technology. Several latest, as well as established organizations, are investing and focusing more on connected drug delivery devices due to the advancements in technology. Teva Pharmaceutical Industries Ltd., the global leader in generic pharmaceuticals, example, introduced their new product Pro-air Digihaler (albuterol sulfate) in May 2022 to solve asthma treatment problems. These features are expected to offer promising commercial opportunities for the development of connected drug-delivery systems.

Rising awareness regarding self-administered therapy

The connected drug delivery devices market has been rapidly increasing led by the increasing awareness of self-administered therapy. The use of modern technologies has resulted in increased interconnectivity and drug effectiveness. These technologies increased patient compliance and enhanced health care. Elcam's FlexiQ eMU-P linked autoinjector, for example, is a home-use self-administration device. The gadget is simple to use and protects the patient from needle stick injuries both before and after usage. FlexiQ eMU-P checks dose and allows clinicians to remotely monitor adherence. The market has increased considerably due to technological innovation and device connection. Additionally, increasing remote patient monitoring, significant R&D in the field of medical drug delivery systems, and widespread acceptance of these devices would benefit the industry's growth.

Rising Concerns about Patient/ User Data Security

Concerns about patient data security are expected to restrict the growth of the connected drug delivery device business. The loss of crucial information, such as insurance IDs and medical records that may contain bank information, medical details, and location, might have a serious impact on patients' data privacy, and as a result, the maker of linked drug delivery devices' reputation could suffer. Hospitals, patients, and outside service providers may all be put in jeopardy as a result of cyber security threats. Such severe and significant dangers associated with linked medicine delivery device solutions may lower market revenue throughout the forecast period. These challenges are expected to restrict the revenue growth of the connected drug delivery devices market.
Connected Drug Delivery Devices Market Segment Analysis:
Based on Product, the Connected Sensors segment dominated the Connected Drug Delivery Devices market with the largest share of about 64% in 2021 and is expected to grow at a CAGR of 35.5% during the forecast period. Connected sensors are connected with current delivery devices without interfering with their regular operation, and they can even be reused if the device is disposable. Connectable injectable sensors and linked inhaler sensors are subsets of these sensors.

Connected devices give patients insight into their treatment data, allowing them to have a better knowledge of their illness and their body's reaction to the prescribed drug. Training programs on best practices for self-injection may be provided in conjunction with remote monitoring to ensure patients are aware of suitable techniques and are armed with the necessary information to safely carry out their treatment at home and use digital tools. This helps patients to take charge of their health and incorporate their pharmaceutical regimen more effortlessly into their daily life. As patient-specific dosage becomes more common in particular disease areas, linked devices allow room for a customized regimen that works best for the patient. As a result, the segment demand is increasing rapidly during the forecast period.

The integrated connected devices segment is expected to register the fastest CAGR over the forecast period. The integrated linked devices segment is further subdivided into connected inhalation devices and connected injection devices. The advantages of inhalation devices over injectable devices, such as needleless medication administration, have led to a rise in their use. The rising prevalence of chronic respiratory disorders such as asthma and Chronic Obstructive Pulmonary Disease (COPD) is expected to raise the demand for inhalation devices. According to a 2019 report by the Centers for Disease Control and Prevention (CDC), one out of every thirteen persons globally suffers from asthma. Likewise, rising connectivity as a result of IoT and other technologies is expected to drive the market and offers lucrative opportunities for market revenue growth during the forecast period.

By End-user, the Healthcare Providers segment held the largest market share and dominated the Connected Drug Delivery Devices market in 2021. The segment is further expected to maintain its dominance with the highest CAGR of about 32.8% throughout the forecast period. The rising prevalence of COPD, Cardiovascular Conditions (CVDs), diabetes, and other chronic diseases necessitates adequate patient health record-keeping. Connected drug delivery systems track medicine consumption and delivery while also keeping health information. Clinicians are focused on providing the best possible health outcomes to the largest number of patients. They want to assure adherence for the sake of the patient and are considering connected devices as a method for that purpose.

Some technological concepts exhibited in recent years even allow for remote medication settings based on remotely monitored patient indicator six, although this level of digital engagement is still a long way from being commonplace. Advanced monitoring features, where the device may monitor for side effects or evaluate the efficacy of regimen adjustments in addition to dosage reporting/reminders, are more likely to come in the medium-term development pipelinex. Remote monitoring of patient adherence is especially critical where more complicated medications, such as cancer treatments, must be handled. As a consequence, increased demand from Healthcare Providers for Connected Drug Delivery Devices would drive segment revenue growth over the forecast period.

The Homecare segment is expected to grow at the fastest CAGR during the forecast period due to the increasing product acceptance in homecare settings. These devices aid in the administration of pharmaceuticals in homecare settings without the involvement of healthcare practitioners and any mistakes associated with drug delivery. These elements are expected to drive segment growth.
Regional Insights:
North American regional market dominated the global Connected Drug Delivery Devices market with the largest share of about 38% in 2021. The region is expected to maintain its dominance at the end of the forecast period as a result of high per capita healthcare expenditure, rapid adoption of new technology and equipment, and growing awareness of the adverse consequences of noncompliance with medication therapy. Likewise, growing knowledge of the availability of numerous novel drug delivery devices such as wearable injectors and pen injectors has considerably aided the growth of drug delivery devices in North America. However, Europe is expected to be the fastest-growing regional market throughout the forecast period due to an increase in chronic condition prevalence and the presence of a large target population base.

The Asia-Pacific connected drug delivery devices market is expected to grow with a CAGR of 24.25%. The region is expected to maintain its presence during the forecast period owing to its large per capita healthcare expenditure, rising awareness of new technologically advanced devices, and rising government initiatives regarding connected drug delivery devices. Meanwhile, product demand in Asia Pacific (excluding Australia and Japan), Latin America, and MEA is likely to remain modest in the next years, owing to the high costs of these devices. However, as more market entrants enter the market, product prices are expected to decrease over time, supporting market growth in such locations.
Connected Drug Delivery Devices Market Scenario and Key Players Analysis:
The emergence of biological medicines, which may cure chronic and acute diseases where there were previously no effective treatments, is a critical issue for major players. Biologics for inflammatory/auto-immune disorders such as Crohn's disease and rheumatoid arthritis were introduced in the last wave. Oncology therapy is the focus of the current generation of novel biologics. While these medications are expected to save money on future treatments and co-morbidity escalation, their initial costs are considerable, especially when competitive biosimilar markets spring up.

As a result, players consider connected medicine delivery devices as an important tool for ensuring that patients stick to their therapeutic regimens. Self-administered connected devices with inbuilt electronics and sensors that give data on time and dosage amount do not assure patient adherence in and of themselves. They do, however, offer the data flows that enable doctors and care providers to remotely monitor adherence when they would not be able to do so otherwise.

To maintain a competitive advantage, industry leaders are engaging in acquisitions and strategic alliances. Companies are also investing in new product releases to strengthen their market position. Propeller Health, for example, joined the Japanese market in August 2020 with the launch of its digital health sensor for New Enerzair and Atectura Breezhaler asthma treatments. Because of the global pandemic, there is a high need for connected medicine delivery systems, which may be utilized without the assistance of healthcare experts. Patients and healthcare professionals are increasingly using remote monitoring and self-management devices, which would create several possibilities for market participants to show the efficacy of their solutions.
Connected Drug Delivery Devices Market Scope: Inquire before buying



Connected Drug Delivery Devices Market


Base Year
2022
Forecast Period
2023-2029


Historical Data
CAGR
Market Size in 2022
Market Size in 2029


2017 to 2022
36.10%
US$ 1219.93 Mn.
US$ 10552.30 Mn.


Segments Covered


by Product
Connected Sensors
Integrated Connected Devices
by Technology
Bluetooth
NFC
Other Technologies
by Disease Indication Type
Gastric Neuroendocrine Tumours
Lung Neuroendocrine Tumours
Pancreatic Neuroendocrine Tumours
Appendiceal Neuroendocrine Tumours
by Treatment Type
Somatostatin Analogs
Targeted Therapy
Chemotherapy
by End-User
Healthcare Providers
Homecare Centres


Regions Covered


North America
United States
Canada
Mexico
Europe
UK
France
Germany
Italy
Spain
Sweden
Austria
Rest of Europe
Asia Pacific
China
S Korea
Japan
India
Australia
Indonesia
Malaysia
Vietnam
Taiwan
Bangladesh
Pakistan
Rest of APAC
Middle East and Africa
South Africa
GCC
Egypt
Nigeria
Rest of ME&A
South America
Brazil
Argentina
Rest of South America



Key Players are:
1. Propeller Health (US)
2. West Pharmaceutical Services, Inc. (US)
3. 3M Company (US)
4. OPKO HEALTH, INC. (US)
5. BD Medical - Pharmaceutical Systems (US)
6. Antares Pharma, Inc. (US)
7. Johnson & Johnson Services, Inc. (US)
8. CeQur Corporation (US)
9. SMC Ltd. (US)
10.Philips Medisize (US)
11.ViVO Smart Medical Devices Ltd. (UK)
12.Sagentia (UK)
13.Bayer AG (Germany)
14.Gerresheimer AG (Germany)
15.Merck Group (Germany)
16.Biocorp Production SA (France)
17.Sanofi (France)
18.Novartis AG (Switzerland)
19.Sulzer Ltd. (Switzerland)
20.MEDMIX SYSTEMS AG. (Switzerland)
21.Novosanis NV (Belgium)
22.FindAir (Poland)
23.Adherium Lmited (New Zealand)

FAQs:

1. What are the growth drivers for the Connected Drug Delivery Devices market?
Ans. The growing utilization of electronic technology in healthcare devices, together with the efficacy of drug delivery devices in treatment processes is expected to be the major driver for the Connected Drug Delivery Devices market.

2. What is the major restraint for the Connected Drug Delivery Devices market growth?
Ans. The Rising Concerns about Patient/ User Data Security are expected to be the major restraining factor for the Connected Drug Delivery Devices market growth.

3. Which region is expected to lead the global Connected Drug Delivery Devices market during the forecast period?
Ans. The North American market is expected to lead the global Connected Drug Delivery Devices market during the forecast period due to the high per capita healthcare expenditure, rapid adoption of new technology and equipment, and growing awareness of the adverse consequences of noncompliance with medication therapy.

4. What is the projected market size & growth rate of the Connected Drug Delivery Devices Market?
Ans. The Connected Drug Delivery Devices Market size was valued at USD 1219.93 Mn. in 2022 and the total Connected Drug Delivery Devices revenue is expected to grow at a CAGR of 36.10% from 2023 to 2029, reaching nearly USD 10552.30 Mn.

5. What segments are covered in the Connected Drug Delivery Devices Market report?
Ans. The segments covered in the Connected Drug Delivery Devices market report are Product, Technology, Disease Indication Type, Treatment Type, End-User, and Region.