Claim 20% Off Global Market Reports With Code ONLINE20 – Insights on Tariff Effects, Global Trade, and Industry Disruptors

What Is The Predicted Market Size Of The Connected Drug Delivery Devices Industry By 2029?

The market size of connected drug delivery devices has seen tremendous growth in the past few years. It is expected to leap from $7.48 billion in 2024 to $9.27 billion in 2025, at a Compound Annual Growth Rate (CAGR) of 23.9%. The historic surge in this market is due to factors such as raised awareness of such connected devices, increased focus on remote monitoring for adherence to medication, enhanced patient involvement, widespread consumer adoption, and a swift rise in the cost of medical management.

The market for connected drug delivery devices is projected to experience an explosive growth in coming years, reaching an impressive $21.81 billion by 2029, with a compound annual growth rate (CAGR) of 23.9%. This growth during the forecast period can be credited to the rising incidences of chronic illnesses, heightened patient awareness of adherence to prescribed treatments, rapidly evolving healthcare IT infrastructure, a growing focus on preventive care, and broad utilization of connected devices in labs and hospitals to maintain electronic health records (EHR). The forecasted period will also witness key trends such as escalated research and developmental activities, a surge in technological innovation, increasing device connectivity, a skyrocketing adoption of machine learning and AI, growing implementation of telehealth platforms integrated with AR/VR technologies, and a greater integration of electronics into healthcare devices.

Get A Free Sample Of The Report:

https://www.thebusinessresearchcompany.com/sample.aspx?id=13962&type=smp

Which Market Dynamics Are Playing A Critical Role In The Growth Of The Connected Drug Delivery Devices Market?

The escalating significance of monitoring patients from a distance is anticipated to impel the expansion of the market for connected drug delivery devices. Remote monitoring of patients is a method of healthcare delivery that employs technology to observe health and medical data of the patient from afar. The capability of connected drug delivery devices to enhance this form of monitoring through precise tracking of medication usage and compliance aids in facilitating prompt interventions and delivering personalized care management. For example, a survey conducted in August 2023 by Vivalink Inc., a digital health solutions provider based in the US, reported a 305% surge in clinicians employing remote patient monitoring on their patients, rising from 20% in 2021 to 81% at present, with 84% of these users projecting to augment their use of RPM in the following year, 2024. As such, the escalating significance of remote patient monitoring acts as a catalyst for the growth of the market for connected drug delivery devices.

Which Segment Accounts For The Largest Share In The Connected Drug Delivery Devices Market?

The connected drug delivery devices market covered in this report is segmented –

1) By Type: Standalone Components And Software, Integrated Devices

2) By Technology: Bluetooth, Near-Field Communication (NFC), Other Technologies

3) By Administration: Parenteral, Inhalational

4) By Application: Asthma, Chronic Obstructive Pulmonary Disease, Diabetes Management, Other Applications

Subsegments:

1) By Standalone Components And Software: Mobile Applications, Connectivity Modules, Data Analytics Software

2) By Integrated Devices: Smart Inhalers, Smart Auto-injectors, Connected Syringes, Wearable Drug Delivery Devices

Which Long-Term Trends Will Play A Crucial Role In The Connected Drug Delivery Devices Market?

Leading firms in the connected drug delivery devices market are concentrating on the advancement of innovative technologies, including digital respiratory health solutions, to augment their market profitability. Connected drug delivery devices with a digital respiratory health solution are technology-aided devices that assist in medication administration to the respiratory system, and they simultaneously monitor usage and health data to enhance patient outcomes. For example, in February 2022, the American company, AptarGroup Inc., renowned for manufacturing dispensing packaging and drug delivery devices, introduced HeroTracker Sense. This creative digital tool converts traditional metered-dose inhalers into intelligent, connected devices, thereby boosting medication adherence and management for individuals with chronic respiratory diseases such as asthma, COPD, among others. The tool comes with features like sensors for analytics and insight. It also facilitates patient adherence monitoring through the BreatheSmart app, which assists in the effective control of respiratory diseases.

Which Players Are Shaping The Competitive Landscape Of The Connected Drug Delivery Devices Market?

Major players in the connected drug delivery devices market are Pfizer Inc., Johnson & Johnson, Bayer AG, AstraZeneca PLC, Abbott Laboratories, Novartis AG, Medtronic PLC, Eli Lilly and Company, Amgen Inc., Boehringer Ingelheim International GmbH, Novo Nordisk A/S, Merck Group, Becton Dickinson and Company, GlaxoSmithKline PLC, Phillips-Medisize Corporation, AptarGroup Inc., Dexcom Inc., West Pharmaceutical Services Inc., Insulet Corporation, OPKO Health Inc., Tandem Diabetes Care Inc., Ypsomed AG, Meridian Medical Technologies LLC, Propeller Health, and Findair Sp. z.o.o.

Access The Complete Report Here:

https://www.thebusinessresearchcompany.com/report/connected-drug-delivery-devices-global-market-report

What Regional Factors Are Accelerating Growth In The Connected Drug Delivery Devices Market?

North America was the largest region in the connected drug delivery market in 2024. The regions covered in the connected drug delivery device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Customize Your Report Here:

https://www.thebusinessresearchcompany.com/customise?id=13962&type=smp

About The Business Research Company:

With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Get in touch with us:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 310-496-7795

Asia +44 7882 955267 & +91 8897263534

Europe +44 7882 955267

Email us at info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model