Connected Drug Delivery Devices Market Size By Device Type [Connected Sensors {Connected Inhalation Sensors, Connected Injectable Sensors}, Integrated Devices {Integrated Inhalation Devices, Integrated Injectable Devices,}], By Technology [Bluetooth, Near Field Communication, Wi-Fi], By Application [Anaphylaxis, Respiratory, Cardiovascular, Diabetes, Hormone Replacement], By End-use [Hospital, Clinics, Homecare], COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Aug 2021  |  Report ID: GMI4422  |  Authors: Sumant Ugalmugale, Rupali Swain

Report Format: PDF   |   Pages: 200   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Connected Drug Delivery Devices Market size was valued at over USD 314 million in 2020 and is anticipated to grow at a CAGR of more than 35.3% between 2021 and 2027. Market growth is attributed to the popularity of electronic drug delivery devices. Also, connected drug delivery devices technology provides smarter choices, allowing patient-administrated therapy, thus fundamentally transforming the market space.
 

Connected Drug Delivery Devices Market Overview

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During 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 also hampered along with the faltering of the clinical trial on connected drug delivery devices. However, on account of the coronavirus crisis, the need for user-friendly and safe homecare solutions came into strong focus. The need for online connectivity devices enables a healthcare professional to keep track of the patients' medication remotely. Therefore, owing to such aspects, the negative impact of the COVID-19 pandemic minimized, and the market showcased steady growth.
 

Rising awareness regarding self-administered therapy will spur the connected drug delivery devices market expansion

The connected drug delivery devices have been growing at an astonishing rate led by the increasing awareness of self-administered therapy. The advent of new technology has brought connectivity and accuracy concerning medication. These devices improved patient compliance and offer better health care. For instance, Elcam’s s FlexiQ eMU-P connected autoinjector is a home use self-administration device. The device is easy to use, and it prevents needle stick injuries to the patient before and after the use. FlexiQ eMU-P verifies the dosage and allows physicians to monitor adherence remotely. The technological advancement and high connectivity of the devices have led to the enormous growth of the market. Furthermore, rising remote patient monitoring, high R&D in the field of medical drug delivery devices, and high adoption of these devices among the people will positively impact the industry growth.
 

Security concerns regarding patient data may slow down the market progression

Security concerns regarding patient data may impede the industry expansion. The breach in data security may lead to huge losses of confidential information such as medical records, insurance IDs which may contain social security and bank details, medical details, and location. This may adversely impact the manufacture's reputation. Cybersecurity threats might pose a serious risk to hospitals, patients, and third-party service providers. Such serious and critical threats associated with connected drug delivery devices solutions may hamper the market revenue over the forecast timeframe.
 

The integrated devices segment is expected to observe a significant market demand

Connected Drug Delivery Devices Market Size

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The integrated devices segment in the connected drug delivery devices market exceeded USD 190 million in 2020 impelled by the growing prevalence of respiratory diseases, such as asthma, pneumonia, chronic obstructive pulmonary disease (COPD), pulmonary fibrosis, and lung cancer. In addition, rising awareness regarding health and illness, high acceptance of the integrated device, rising telecommunication industry, and government initiatives will propel the industry progression in the coming years.
 

The rising advent of technology and wi-fi enabled devices will drive the market value

The wi-fi segment held 23% of revenue share in 2020. With advancements in technology, the adoption rate of the latest technologies in medical devices has increased considerably. Additionally, the wi-fi segment is forecasted to register positive growth in the future, owing to the rising remote patient monitoring demand. Increasing awareness among people about several connected drug delivery devices technologies to maintain track of their daily medication will further augment the industry demand of connected drug delivery devices.
 

High prevalence of diabetes will fuel the demand for connected drug delivery devices

The diabetes segment captured 21.1% of the market share in 2020 and is poised to expand at 37.1% growth rate through 2027. As per WHO, more than 422 million people are suffering from diabetes, and each year around 1.6 million deaths occurred directly attributed to diabetes. The high prevalence rate is credited to genetic factors, acceptance of unhealthy lifestyles, unhygienic eating habits, and others. Furthermore, the growing diabetes populations base, rising healthcare expenditure on diabetes, and increasing number of product launches for diabetes management will stimulate the industry revenue of connected drug delivery devices.
 

Growing preference for homecare medication will boost the market growth

The homecare segment is estimated to attain a CAGR of 35.8% by 2027. The rising preference for self-administered therapy at homecare and technological advancement of connected drug delivery devices will foster the industry. Opportunely, integration of local networks into the drug delivery devices, and growing awareness of connected drug therapy is set to accelerate the market expansion.
 

High per capita healthcare expenditure in North America region will drive the market progression

North America Connected Drug Delivery Devices Market

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North America connected drug delivery devices market accounted for 45% of revenue share in 2020 due to high per capita healthcare expenditure, and quick adoption of innovative technologies in healthcare facilities. Moreover, the growing usage of integrated devices coupled with the rapid acceptance of wireless & wi-fi-enabled remote drug delivery systems will stimulate the industry growth. Also, the presence of a major market leaders in the region and advanced applications of medical devices are some of the factors augmenting the industry expansion of connected drug delivery devices in North America.
 

Growth strategies of market players are focused on increasing the customer base

A few key companies operating in the market are Adherium, Bayer, Merck, Phillips Medisize, Nemera, BioCorp, Findair, Propeller Health, West Pharmaceutical Services, and Teva Pharmaceuticals. These market participants are focusing on several strategies such as acquisitions, partnerships, new product launches, mergers, and collaborations to increase their customer base and revenue share.
 

Recent industry developments:

  • In May 2020, Propeller Health announced that it received U.S. FDA approval to connect the patients using Symbicort inhaler to its digital health platform. This platform will enable the patients to manage their and increase their medication adherence. This approval will enable the company to strengthen its market presence in the respiratory disease management space.
     
  • In August 2018, Adherium announced that it received U.S. FDA approval for launch of its Hailie solution in the U.S. market. This approval enabled the company to enter into the developed market of U.S. and strengthen its global position in the industry space.
     

The connected drug delivery devices market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD from 2016 to 2027, for the following segments:

Market, By Device Type

  • Connected sensors
    • Connected inhalation sensors
    • Connected injectable sensors
  • Integrated devices
    • Integrated inhalation devices
    • Integrated injectable devices

Market, By Technology

  • Bluetooth
  • Near field communication
  • Service

Market, By Application

  • Anaphylaxis
  • Respiratory
  • Cardiovascular
  • Diabetes
  • Hormone Replacement
  • Others

Market, By End-use

  • Hospital
  • Clinics
  • Homecare
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East and Africa
    • South Africa
    • Saudi Arabia

 

Frequently Asked Questions (FAQ) :

Market size of connected drug delivery devices surpassed USD 314.3 million in 2020 and will observe a CAGR of over 35.3% through 2027.
Integrated devices segment was valued at over USD 190 million in 2020 and will grow with rising prevalence of respiratory diseases like asthma, pneumonia, chronic obstructive pulmonary disease (COPD), etc.
Wi-fi segment had captured 23% revenue share in 2020 on account of the technological advancements and increasing adoption of latest technologies in medical devices.
Homecare segment will witness a CAGR of 35.8% by 2027 with growing preference for self-administered therapy at homecare and technological advancement of connected drug delivery devices.
North America market had held around 45% share in 2020 owing to increasing healthcare expenditure and adoption of innovative technologies in the region.

Premium Report Details

  • Published Date: Aug 2021
  • Pages: 200
  • Tables: 456
  • Charts / Figures: 17
  • Companies covered: 10
  • Countries covered: 15

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