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Report Overview
2023
Base Year
2017-2023
Historical Year
2024-2032
Forecast Year
Global Connected Drug Delivery Devices Market Outlook
The global connected drug delivery devices market size attained a value of USD 541.12 million in 2023 as the rapid surge in Bluetooth segment is expected to fuel the market growth. The market is anticipated to grow at a CAGR of 31.5% during the forecast period of 2024-2032 to attain a value of USD 6,362.49 million by 2032.
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North America Holds a Significant Share in the Growing Market of Connected Drug Delivery Devices
North America holds a significant share in the connected drug delivery devices market on account of the speedy adoption of the latest technologies and high per capita healthcare expenditure. The rising awareness regarding the harmful effects that can result from non-compliance with drug therapy is likely to boost the market growth across the globe in the coming years.
The rapid acceptance of wireless & wi-fi-enabled remote drug delivery systems coupled with the surging consumption of integrated devices is expected to bolster the market growth in the region. Moreover, factors like the high presence of major market players like Phillips-Medisize Corporation and advanced applications of medical devices are expected to propel the market growth further in North America.
Market Segmentation
Specialised smart electronics, connected drug delivery devices support wireless connectivity and are used to dispense therapy that is patient administered. These devices are fully equipped with a wide range of sensors and other electronics. The various components work together to support multiple features, helping patents track their medication doses and overall adherence, while providing tools for further patient education.
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By type, the connected drug delivery devices market is divided into:
- Connected Sensors
- Connectable Injection Sensors
- Connected Inhaler Sensors
- Integrated Connected Devices
- Connected Inhalation Devices
- Connected Injection Devices
- Others
Based on technology, the market is categorised into:
- Near Field Communication (NFC)
- Bluetooth
- Others
On the basis of end use, the market is segmented into:
- Hospitals
- Homecare
The EMR report looks into the regional markets like Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa.
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Rapid Rise of Bluetooth Segment to Propel the Market Growth of Connected Drug Delivery Devices
On the basis of technology, the Bluetooth segment is expected to fuel the market growth on account of its high usage in drug delivery devices coupled with technology advancements. The several benefits of Bluetooth usage like extended battery life, low costs, and easy availability are driving the segment growth in the connected drug delivery devices market.
Moreover, the rising popularity of electronic drug delivery devices, technological advancements, and the surging awareness of self-administered therapy are further anticipated to spur the market growth over the upcoming years. The increasing prevalence of diabetes along with the rising preference for homecare medication because of the surging product acceptance in homecare settings are expected to fuel the market growth.
Key Players in the Global Market for Connected Drug Delivery Devices
The report presents a detailed analysis of the following key players in the global connected drug delivery devices market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Adherium Limited
- Propeller Health
- Teva Pharmaceutical Industries Ltd.
- Phillips-Medisize (Molex, LLC)
- Elcam Drug Delivery Devices
- Others
The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Technology |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global market for connected drug delivery devices reached a value of USD 541.12 million.
The market is anticipated to grow at a CAGR of 31.5% during the forecast period of 2024-2032 to reach a value of USD 6,362.49 million by 2032.
The major market drivers are the high per capita healthcare expenditure and increasing awareness about the harmful effects of non-compliance with drug therapy.
The key market trends include emerging economies along with surging cases of chronic diseases and the increasing advent of technology and wi-fi-enabled devices.
The major regions in the market as identified by the EMR report are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The various types of devices in the market include connected sensors, and integrated connected devices, among others.
The various technologies available in the market include near field communication (NFC), and Bluetooth, among others.
The primary end uses include hospitals and homecare.
The major players in the market are Adherium Limited, Propeller Health, Teva Pharmaceutical Industries Ltd., Phillips-Medisize (Molex, LLC), and Elcam Drug Delivery Devices, among others.
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