Top Growth Trends in the Connected Drug Delivery Devices Market: Insights into Market Size and Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
How Are Key Drivers Contributing to the Growth and Expansion of the Connected Drug Delivery Devices Market?
The escalating significance of remote patient monitoring is anticipated to boost the expansion of the connected drug delivery device market in the future. Remote patient monitoring is an approach to healthcare provision that leverages technology to monitor patient health and medical data remotely. Connected drug delivery devices add value to RPM by ensuring precise tracking of medication usage and compliance, enabling timely interventions, and offering personalized care management. For example, a survey in August 2023 by Vivalink Inc., a US-based digital health solutions firm, revealed that there was a 305% increase in the number of clinicians adopting remote patient monitoring (RPM) for patients, from 20% in 2021 to 81% at present, with a further 84% intending to broaden their RPM usage by 2024. Consequently, the growing significance of remote patient monitoring contributes to the development of the connected drug delivery device market.
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How Has the Connected Drug Delivery Devices Market Evolved in Recent Years, and What are the Growth Projections for the Forecast Period?
The market size for connected drug delivery devices has experienced tremendous growth lately. Projected to expand from $7.48 billion in 2024 to $9.29 billion in 2025, it signifies a compound annual growth rate (CAGR) of 24.2%. Factors contributing to the growth during the historic period include heightened awareness about connected devices, the growing significance of remote monitoring for consistent medication use, enhanced patient involvement, broad consumer acceptance, and a rapid surge in the cost of medical management.
The market size for connected drug delivery devices is anticipated to witness significant growth in the upcoming years, reaching a projected value of $21.92 billion in 2029. This corresponds to a compound annual growth rate (CAGR) of 23.9%. This burgeoning growth during the forecast period can be attributed to factors such as a high incidence rate of chronic illnesses, heightened patient awareness towards adherence to prescribed treatments, rapidly evolving healthcare IT infrastructure, increased focus on preventive health care, and the widespread use of connected devices in laboratories and hospitals for the management of electronic health records (EHR). The projected trends for the period include increased research and development activities, a surge in the innovation of technology and the enhanced connectivity of devices, rising use of machine learning and artificial intelligence, growing implementation of telehealth platforms with integration of AR/VR technologies, and an uptick in the incorporation of electronic technology in healthcare devices.
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What New Market Trends Are Reshaping theConnected Drug Delivery Devices Market and Its Opportunities?
Leading enterprises within the connected drug delivery device market are prioritizing the development of innovative technologies, for example, digital respiratory health solutions, in order to boost their market profitability. A digital respiratory health solution in the context of connected drug delivery devices is essentially a tech-powered mechanism that assists in drug delivery to the respiratory system, simultaneously tracking health and usage data to yield improved patient results. For instance, AptarGroup Inc., an American company that manufactures dispenser packaging and drug delivery devices, introduced HeroTracker Sense in February 2022. This avant-garde digital tool revolutionizes traditional metered-dose inhalers by upgrading them to smart, connected instruments to help manage medication for people suffering from chronic respiratory diseases like asthma and COPD, among others. It comes packed with features such as sensors that provide analytical insight and fosters patient compliance monitoring via BreatheSmart application, thus aiding disease management effectively.
Who Are the Leading Market Players Fueling Growth in the Connected Drug Delivery Devices Market Trend?
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 is the Global Connected Drug Delivery Devices Market Segemented?
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
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Which Geographics are Influencing the Growth of 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.
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