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Connected Drug Delivery Devices Market size to exceed $3.5Bn by 2032

  • Published Date: April 5, 2023

Connected Drug Delivery Devices Market size is projected to surpass USD 3.5 billion by 2032, as per a new research report announced by Global Market Insights Inc.

One of the main factors propelling the connected drug delivery devices industry is the rapidly evolving healthcare IT infrastructure. The increasing development of the healthcare IT infrastructure, especially in the Asia Pacific region, is benefitting the adoption of connected drug delivery systems. Additionally, various governments are investing heavily in healthcare services and systems which is anticipated to supplement market expansion.

Soaring demand for remote monitoring devices to bolster integrated devices  progression

Connected drug delivery devices market from the integrated devices segment was worth over USD 214 million in 2022. Integrated injectable devices enable patients in remote locations to control their medication as medical professionals can monitor dosage in real time. The booming telecommunications industry, soaring health and illness awareness, and government measures are driving segment  landscape.

Browse key industry insights spread across 210 pages with 450 market data tables & 17 figures & charts from the report, “Connected Drug Delivery Devices Market Size By Device [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], Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:

Continuous advancements in connected device sensors to increase NFC technology industry share

Connected drug delivery devices industry from the near-field communication segment is likely to  hit USD 1 billion by 2032. The segment expansion is attributed to the surging product use for drug delivery. Ongoing advancements in technologies, such as wearable NFC sensors including RFID sensors, micro-battery delivery systems, and supercapacitors, among others, are also foreseen to propel segment adoption through the forecast period.

Mounting prevalence of diabetes to increase the use of connected drug delivery devices

Connected drug delivery devices market from the diabetes segment is poised to grow at over 29.5% CAGR  by 2032. According to WHO speculations, more than 422 million people are suffering from diabetes while approximately 1.6 million deaths are attributed to diabetes each year. Genetic disproportionality, unhealthy lifestyles, unhygienic eating practices, and other factors are causing high prevalence rates. Moreover, the expanding diabetic population base, increasing healthcare spending on diabetes, and an upsurge in the number of product launches for diabetes management are anticipated to propel product adoption.

Growing outpatient visits to augment clinics segment revenues

The clinics segment is estimated to depict more than 28% CAGR  by 2032. The segment progress is attributable to the strong prevalence of chronic diseases, including cardiovascular disorders, diabetes, asthma, cancer, and others, pushing the demand for connected drug delivery devices in clinics. Furthermore, shifting preferences of patients for clinics owing to ease of access is set to foster the segment outlook.

Positive efforts by industry players to introduce new products to aid Europe industry

Europe connected drug delivery devices market is slated to garner USD 916 million by 2032. The region is witnessing significant progress due to the soaring popularity of therapies and the development of novel drug devices for specific diseases and disabilities. In addition, major companies are introducing new products to support the promotion of self-administered medication.

Launch of new cost-effective products to remain a key growth strategy

Some of the key players profiled in the market report include Adherium, Merck, Phillips Medisize, Bayer AG, Nemera, Findair Sp. z o. o., BioCorp Production, Teva Pharmaceuticals, Propeller Health, West Pharmaceutical Services, and others.

Authors: Rupali Swain, Subodh Kharad

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