The global connected drug delivery devices market is envisioned to garner $2,095.2 million by 2030, growing from $290.3 million in 2021 at a CAGR of 24.29% from 2022 to 2030.
Connected drug delivery devices are integrated with capabilities that include connectivity to a wide range of digital services. These devices are being developed by various market players with an aim to support superior patient supervision and counselling. Connected drug delivery devices are equipped with several features, such as adherence trackers, dosing remainders, and patient diaries to collect health information. These devices are prominently used in the treatment of asthma, Chronic Obstructive Pulmonary Disease (COPD), diabetes, and other cardiovascular disorders.
The efficiency of drug delivery devices in therapeutic procedures along with rising usage of electronic healthcare devices are anticipated to fuel market expansion for connected drug delivery devices over the forecast period. In addition to this, it is projected that an increase in the prevalence of diabetes, COPD, and asthma will offer a lucrative potential for increasing use of connected drug delivery devices throughout the course of the forecast period.
On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities, and imposition of stringent regulations on drug delivery systems are expected to hinder the market growth. Also, lack of favorable reimbursement scenario and technology penetration in the developing economies, availability of low-cost substitutes, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period.
Furthermore, increased public-private funding for targeted research initiatives, rising air pollution levels, and an increase in product innovations and development due to global technological breakthroughs will all create lucrative opportunities for key players in the market throughout the projection period. In the future, the market growth rate will be accelerated due to expanding number of strategic alliances, increasing Internet usage, increasing number of hospitals and laboratories, and rising per-capita expenditure on health care spending. For instance, in February 2022, Aptar Pharma, a global leader in drug delivery systems launched a product Hero Tracker Sense, which is a next generation Metered-Dose Inhaler (MDI) add-on connected device, designed to address patient inhalation technique and adherence. It is designed to help improve the lives of patients around the world suffering from chronic respiratory diseases such as asthma, COPD, cystic fibrosis, and other respiratory conditions caused by COVID-19, to track their MDI usage and facilitate improved adherence to their prescribed therapy.
Global distribution and sales channel disruption due to COVID-19 pandemic could be blamed for the decline in connected drug delivery devices sales. People had to face restrictions such as lockdown, social distancing, and others. During the pandemic, business processes such as production, inventory management, and distribution of goods and services have ceased, which is expected to have a significant impact on the worldwide economy. However, the coronavirus outbreak made the high demand for simple and secure homecare setting medical devices. A healthcare provider is now able to remotely monitor a patient's medicine due to the requirement for online connectivity equipment. Owing to these factors, the COVID-19 pandemic's negative effects were decreased and the market kept expanding gradually.
The key players profiled in the connected drug delivery devices market report include Adherium, BD, Proteus Digital Health, propeller Health, F. Hoffmann-La Roche Ltd, Ypsomed AG, Cohero Health, Inc., West Pharmaceutical Services, Syncro Technology Corp., and AptarGroup Inc.
Connected drug delivery devices are integrated with capabilities that include connectivity to a wide range of digital services. These devices are being developed by various market players with an aim to support superior patient supervision and counselling. Connected drug delivery devices are equipped with several features, such as adherence trackers, dosing remainders, and patient diaries to collect health information. These devices are prominently used in the treatment of asthma, Chronic Obstructive Pulmonary Disease (COPD), diabetes, and other cardiovascular disorders.
The efficiency of drug delivery devices in therapeutic procedures along with rising usage of electronic healthcare devices are anticipated to fuel market expansion for connected drug delivery devices over the forecast period. In addition to this, it is projected that an increase in the prevalence of diabetes, COPD, and asthma will offer a lucrative potential for increasing use of connected drug delivery devices throughout the course of the forecast period.
On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities, and imposition of stringent regulations on drug delivery systems are expected to hinder the market growth. Also, lack of favorable reimbursement scenario and technology penetration in the developing economies, availability of low-cost substitutes, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period.
Furthermore, increased public-private funding for targeted research initiatives, rising air pollution levels, and an increase in product innovations and development due to global technological breakthroughs will all create lucrative opportunities for key players in the market throughout the projection period. In the future, the market growth rate will be accelerated due to expanding number of strategic alliances, increasing Internet usage, increasing number of hospitals and laboratories, and rising per-capita expenditure on health care spending. For instance, in February 2022, Aptar Pharma, a global leader in drug delivery systems launched a product Hero Tracker Sense, which is a next generation Metered-Dose Inhaler (MDI) add-on connected device, designed to address patient inhalation technique and adherence. It is designed to help improve the lives of patients around the world suffering from chronic respiratory diseases such as asthma, COPD, cystic fibrosis, and other respiratory conditions caused by COVID-19, to track their MDI usage and facilitate improved adherence to their prescribed therapy.
Global distribution and sales channel disruption due to COVID-19 pandemic could be blamed for the decline in connected drug delivery devices sales. People had to face restrictions such as lockdown, social distancing, and others. During the pandemic, business processes such as production, inventory management, and distribution of goods and services have ceased, which is expected to have a significant impact on the worldwide economy. However, the coronavirus outbreak made the high demand for simple and secure homecare setting medical devices. A healthcare provider is now able to remotely monitor a patient's medicine due to the requirement for online connectivity equipment. Owing to these factors, the COVID-19 pandemic's negative effects were decreased and the market kept expanding gradually.
The key players profiled in the connected drug delivery devices market report include Adherium, BD, Proteus Digital Health, propeller Health, F. Hoffmann-La Roche Ltd, Ypsomed AG, Cohero Health, Inc., West Pharmaceutical Services, Syncro Technology Corp., and AptarGroup Inc.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the connected drug delivery devices market analysis from 2021 to 2030 to identify the prevailing connected drug delivery devices market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the connected drug delivery devices market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global connected drug delivery devices market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Injectable
- Inhalation Devices
By Technology
- Bluetooth
- NFC
- Others
By End-use
- Homecare
- Hospitals
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- South Africa
- Rest of LAMEA
Key Market Players
- Adherium
- BD
- Proteus Digital Health
- PROPELLER HEALTH
- F. Hoffmann-La Roche Ltd
- Ypsomed AG
- Cohero Health, Inc.
- West Pharmaceutical Services, Inc.
- Syncro Technology Corp.
- AptarGroup Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CONNECTED DRUG DELIVERY DEVICES MARKET, BY TYPE
CHAPTER 5: CONNECTED DRUG DELIVERY DEVICES MARKET, BY TECHNOLOGY
CHAPTER 6: CONNECTED DRUG DELIVERY DEVICES MARKET, BY END-USE
CHAPTER 7: CONNECTED DRUG DELIVERY DEVICES MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Connected Drug Delivery Devices Market," the connected drug delivery devices market size was $290.30 million in 2021, and is estimated to reach $2.1 billion by 2030, growing at a CAGR of 24.3% from 2022 to 2030.Connected drug delivery devices are the wireless connected and smart electronic devices that allow patient-administrated therapy. Delivering drugs through connected devices, such as auto-injectors, smart inhalers, and closed-loop solutions, has been documented as a potential way of improving patient adherence and reducing dosing errors, particularly in the home setting. Also, these devices are used for the treatment of various diseases such as multiple sclerosis, diabetes, liver & renal transplant recipients, hepatitis C, hypertension, asthma, tuberculosis, and clinically isolated syndrome.
Connected drug delivery devices help physicians to monitor the compliance of patients to the therapy prescribed by them as well as to modify or make any advancement in the treatment of the patient treatment as required. Increasing number of initiatives to create awareness regarding complexities caused by over dosage or under dosage of medicines is expected to promote the adoption of connected drug delivery devices. Patients with chronic diseases, such as asthma and diabetes, are facing challenges in managing medications, adherence to prescriptions, visiting healthcare providers, and maintaining a balanced diet. Connected drug delivery devices can be useful for self-management. As these devices can aid in patient adherence to prescribed treatments, which is likely to significantly increase their adoption.
One of the key challenges for widespread adoption in drug delivery applications remains the cost effective integration of simple to use electronic communications systems. This is because delivery devices are, mechanically simple and made at low cost in extremely high volumes. Furthermore, connecting these devices to an existing wireless network usually entails pairing procedures, passwords, apps, and/or subscriptions. These may draw attention away from the system's dependability and usability for the patient.
Immense focus on technological advancements is further helping the market to grow at a significant rate. For instance, manufacturers' instant focus on nanotechnology has helped to deliver error-free drug delivery and increase the penetration level of the drug at the target site. For instance, liposomal technologies are currently used by key drug manufacturers for extended-release drug delivery thereby reducing dosages. These include DepoFoam TM Technology, Non-PEGylated Technology (NPL), and others. These technologies improve patient drug adherence through reduced dosing and lesser side effects. Furthermore, rapid adoption of new and complex technologies for developing irreplicable drugs to sustain competition is a factor expected to support revenue growth of connected drug delivery devices market over the forecast period.
The global connected drug delivery devices market share is segmented based on type, technology, end-user, and region. By type, it is classified into injectable devices, inhalation devices, and others. By technology, it is classified into NFC, Bluetooth, and others. By end-user it is classified into homecare settings and hospitals, and by region the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the connected drug delivery devices industry report include Adherium, BD, Proteus Digital Health, propeller Health, F. Hoffmann-La Roche Ltd, Ypsomed AG, Cohero Health, Inc., West Pharmaceutical Services, Syncro Technology Corp., and AptarGroup Inc.
The report offers a comprehensive analysis of the global connected drug delivery devices market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market. The report provides the global connected drug delivery devices market size for 2021, connected drug delivery devices market analysis for each segment, and the global connected drug delivery devices market forecast from 2022 - 2030.
Impact of COVID-19 on the Global Connected Drug Delivery Devices Industry
- Due to the COVID-19 pandemic, the medical device manufacturers witnessed a slight decline in the sale of connected drug delivery devices. The drop in sales might be reported due to disruption in the global distribution and sales channel.
- During the pandemic, restrictions were imposed on the people which declined the rate of diagnosis and screening of diseases. Also, R&D conducted by the pharmaceutical industry hampered the growth of the market.
- However, due to the COVID-19 outbreak, the need for user-friendly and safe homecare solutions became crucial. 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.
Key Findings of the Study
- Based on type, the injectable devices sub-segment emerged as a dominating leader in 2021 and the inhalation devices are anticipated to be the fastest growing sub-segment during the forecast period
- Based on technology, the NFC sub-segment emerged as the fastest growing sub-segment and the Bluetooth sub-segment is predicted to be the dominating in the upcoming years
- Based on end-user, the homecare settings sub-segment emerged as the fastest growing and the hospitals sub-segment is predicated as dominating in the market during the forecast period
- Based on region, the North America market registered the highest market share in 2021 and Asia-Pacific region is anticipated to be the fastest growing in the market during the forecast period
Companies Mentioned
- Adherium
- Bd
- Proteus Digital Health
- Propeller Health
- F. Hoffmann-La Roche Ltd
- Ypsomed AG
- Cohero Health, Inc.
- West Pharmaceutical Services, Inc.
- Syncro Technology Corp.
- Aptargroup Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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