Global Connected Drug Delivery Devices Market, By Product Type (Connected Sensors, Connected Inhaler Sensors, Connected Injection Sensors, Integrated Connected Devices, Integrated Inhalation Devices, Integrated Injection Devices), Technology (Near Field Communication (NFC), Bluetooth, Other), End User (Healthcare Providers, Homecare, Hospitals), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
Connected drug delivery devices market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to USD 928.38 million by 2028 and will grow at a CAGR of 16.69% in the above mentioned forecast period.
Connected drug delivery devices are the type machines which are used to deliver various medicinal agents in patient’s body to provide medical treatment and monitor patient’s behavior. These devices are used to reduce patient’s non-adherence regarding medicinal prescriptions and to proffer better health service.
The growing demand for connected drug delivery devices across various end use industries such as homecare and hospitals is amongst the important factors intensifying the growth and demand of connected drug delivery devices market. In addition, the increasing scope of its application in healthcare sector along with growing use of self-administration of drugs through connected drug delivery device and incursion of artificial intelligence technology and big data analytics are also contributing to the growth in the global market over the forecast period of 2021 to 2028. Also the better R&D investment on connected drug delivery devices is also enhancing the growth of the market. Likewise, the increasing prevalence of chronic disease, rising geriatric population and growing inclination for connected injectable drug delivery are also lifting the market growth in the above mentioned forecast period. The increasing patient engagement and connectivity owing to rising penetration of the internet of things (IoT) in the medical devices sector will further accelerate the expansion of the connected drug delivery devices market and are also are offering significant growth opportunities for the market in the forecast period of 2021 to 2028.
However, the higher cost of connected drug delivery devices and inadequate regarding various advance technologies and electronic devices amongst general population will curb the growth of the connected drug delivery devices market, whereas the lack of security standards and high risk related to data loss have the potential to challenge the growth of the connected drug delivery devices market.
This connected drug delivery devices market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on connected drug delivery devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Connected Drug Delivery Devices Market Scope and Market Size
Connected drug delivery devices market is segmented on the basis of product type, technology and end user. The growth amongst these segments will help you analyze meager growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of product type, the connected drug delivery devices market is segmented into connected sensors, connected inhaler sensors, connected injection sensors, integrated connected devices, integrated inhalation devices and integrated injection devices.
- Based on technology, the connected drug delivery devices market is segmented into near field communication (NFC), bluetooth and other. Other is further segmented into cellular and low power wide area network.
- The end user segment of connected drug delivery devices market is segmented into healthcare providers, homecare and hospitals.
Connected Drug Delivery Devices Market Country Level Analysis
Connected drug delivery devices market is analyzed and market size insights and trends are provided by country, product type, technology and end user as referenced above.
The countries covered in the connected drug delivery devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa(MEA), Brazil, Argentina and Rest of South America as part of South America.
North America region leads the connected drug delivery devices market owing to presence of well-developed healthcare sector as well as the well developed internet infrastructure and high spending on healthcare and growing awareness about contrary effects of non-adherence to approved medication within the region. Europe is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of rising cases of chronic diseases and the high disposable income and keenness to pay more for advanced healthcare services in this particular region.
The country section of the connected drug delivery devices market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
Connected drug delivery devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for connected drug delivery devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the connected drug delivery devices market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Connected Drug Delivery Devices Market Share Analysis
Connected drug delivery devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to connected drug delivery devices market.
The major players covered in the connected drug delivery devices market report are BD, F. Hoffmann-La Roche Ltd, Propeller Health, BioCorp, Antares Pharma, Novartis AG, 3M, Sulzer Ltd, Gerresheimer AG, Sanofi, Johnson & Johnson Services, Inc., Bayer AG, GlaxoSmithKline plc, Novosanis, MEDMIX SYSTEMS AG, Merck & Co., Inc., Pfizer Inc., Insulet Corporation, OraSure Technologies, Inc., Enable Injections, West Pharmaceutical Services, Inc., SMC Ltd., ViVO Smart Medical Devices Ltd., and Cipla Inc., among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.