Global Connected Drug Delivery Devices Market Landscape: Trends and Market Share to 2029
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What Are the Latest Market Insights for the Connected Drug Delivery Devices Industry?
The market for connected drug delivery devices has seen a rapid expansion recently. It is forecasted to rise from a value of $7.48 billion in 2024 to $9.27 billion in 2025, experiencing a compound annual growth rate (CAGR) of 23.9%. The notable growth during the historical period is due to factors such as heightened knowledge of connected devices, the increasing significance of remote monitoring for medication compliance, enhanced patient involvement, the wide acceptance among consumers, and the swiftly escalating costs in medical management.
Growth is anticipated to be significant in the connected drug delivery devices market over the next few years, with projections reaching “$21.81 billion by 2029, thanks to a compound annual growth rate (CAGR) of 23.9%. This predicted rise during the forecast period is due largely to the escalating incidence of chronic illnesses, improved patient understanding of the importance of compliance with prescribed treatments, the rapid advancement of healthcare IT systems, increased focus on preventative care, and the broad use of connected devices in labs and hospitals for electronic health records (EHR) management. The forecast period is also expected to see a trend towards increased research and development activities, a surge in technological innovation and device connectivity, growing application of machine learning and artificial intelligence, expanding use of telehealth platforms that incorporate AR/VR technology, and greater implementation of electronic technology within healthcare devices.
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What Forces Are Driving The Growth Of The Connected Drug Delivery Devices Industry?
The rising significance of remote patient monitoring is anticipated to boost the progress of the connected drug delivery device market. This healthcare approach leverages technology to remotely monitor patients’ health and medical information. By allowing accurate tracking of medication use and compliance, offering timely interventions, and delivering personalized care management, connected drug delivery devices enhance remote patient monitoring. For example, as per a survey by Vivalink Inc., a US firm specializing in digital health solutions, there was a 305% surge in clinicians employing remote patient monitoring from 20% in 2021 to 81% currently. This happened in August 2023, and 84% of these users intend to broaden their RPM usage in 2024. Consequently, the rising significance of remote patient monitoring is fueling the expansion of the connected drug delivery device 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
What Upcoming Trends Are Expected To Impact The Connected Drug Delivery Devices Market Globally?
Major businesses in the connected drug delivery devices market are concentrating their efforts on developing unique technologies like digital respiratory health solutions to boost their financial performance in the sector. Digital respiratory health solutions refer to tech-enabled appliances that simplify the process of delivering medication to the respiratory system while also collecting usage and health data to foster enhanced patient results. For example, in February 2022, AptarGroup Inc., a US company that manufactures dispensing packaging and drug delivery devices, introduced HeroTracker Sense. This groundbreaking digital tool transforms conventional metered-dose inhalers into intelligent, connected mechanisms, promoting medication compliance and management for those living with chronic respiratory illnesses like asthma, COPD, and other conditions. It provides attributes such as sensor analytics and insight, and fortifies patient adherence tracking via the BreatheSmart app, assisting in the proficient control of respiratory ailments.
Who Are The Primary Players Operating Across The Global 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.
Which Region Offers The Most Growth Potential For The Connected Drug Delivery Devices Market Through 2029?
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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