Connected Drug Delivery Devices Market Forecast 2025–2034: Where Businesses Should Invest Next
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#What Is The Projected Market Size Of The Connected Drug Delivery Devices Market By 2029?
The market size for connected drug delivery devices has experienced substantial growth in recent years. It is projected to expand from $7.48 billion in 2024 to $9.27 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 23.9%. The historic period’s growth can be ascribed to an elevated awareness of connected devices, the rising significance of remote monitoring for medication adherence, enhanced patient engagement, widespread consumer adoption, and the rapidly increasing cost of medical management.
The connected drug delivery devices market size is expected to experience rapid expansion in the coming years. It is projected to grow to $21.81 billion in 2029, achieving a compound annual growth rate (CAGR) of 23.9%. The expansion during the forecast period is driven by several factors, including the rising prevalence of chronic diseases, increasing patient awareness about following prescribed therapies, the evolving healthcare IT infrastructure, a greater emphasis on preventive care, and the extensive adoption of connected devices in laboratories and hospitals for maintaining electronic health records (EHR). Major developments anticipated in the forecast period encompass heightened research and development activities, a surge in technological innovation and improved device connectivity, the increasing use of machine learning and artificial intelligence, the growing deployment of telehealth platforms integrated with AR/VR technologies, and the broader integration of electronic technology in healthcare devices.
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Which Drivers Are Shaping The Connected Drug Delivery Devices Industry’s Market Share?
The expanding significance of remote patient monitoring is anticipated to drive the expansion of the connected drug delivery device market in the future. Remote patient monitoring constitutes a healthcare approach that employs technology to remotely oversee patient health and medical information. These connected drug delivery devices bolster RPM by allowing precise monitoring of medication intake and compliance, enabling prompt medical responses, and delivering tailored care management. As an illustration, a survey conducted in August 2023 by Vivalink Inc., a US-based digital health solutions provider, indicated a 305% surge in clinicians employing remote patient monitoring (RPM) for patients, escalating from 20% in 2021 to 81% currently; furthermore, 84% of these practitioners intend to broaden their RPM utilization in 2024. Consequently, the growing emphasis on remote patient monitoring is stimulating the development of the connected drug delivery device market.
Which Key Segments Fueling 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 Competitive Trends Are Defining The Connected Drug Delivery Devices Market Structure?
Leading firms within the connected drug delivery devices market are concentrating on creating advanced technology, including digital solutions for respiratory health, to boost their market profitability. Specifically, such a solution for connected drug delivery devices is defined as a technology-integrated device designed to assist in delivering medication to the respiratory system, concurrently monitoring usage and health information to enhance patient results. An example of this is AptarGroup Inc., a US-based company specializing in dispensing packaging and drug delivery devices, which introduced HeroTracker Sense in February 2022. This particular digital innovation converts conventional metered-dose inhalers into intelligent, connected units, aiming to improve medication compliance and overall management for people dealing with ongoing respiratory ailments like asthma, COPD, and others. It incorporates features such as sensors for data analysis and understanding, and facilitates the tracking of patient adherence through its BreatheSmart app, thereby contributing to the effective handling of respiratory illnesses.
Which Key Players Are Driving Competition In 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.
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How Do Regional Market Performances Compare Within The Connected Drug Delivery Devices Industry?
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.
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