2024 Global Connected Drug Delivery Devices Market Report: Key Drivers, Size, and Leading Segments
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What is the Expected Growth Rate of the Connected Drug Delivery Devices Market from 2024 to 2033?
The connected drug delivery market is projected to rise from $6.02 billion in 2023 to $7.48 billion in 2024, at a CAGR of 24.3%. Key factors include awareness of connected devices and patient engagement.
The connected drug delivery market is projected to see exponential growth, reaching $17.67 billion in 2028 with a CAGR of 24%. Growth factors include chronic disease prevalence, patient adherence awareness, healthcare IT infrastructure, preventive care emphasis, and connected devices in healthcare. Trends involve increased R&D, technological innovation, device connectivity, telehealth integration with AR/VR, and electronic technology adoption.
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What Key Factors Are Fueling the Growth of the Connected Drug Delivery Devices Market?
The rising significance of remote patient monitoring is expected to accelerate the growth of the connected drug delivery device market. Remote patient monitoring leverages technology to oversee patient health from afar, and connected drug delivery devices support this by tracking medication use and adherence, enabling timely interventions. A survey by Vivalink Inc. revealed a 305% increase in clinicians using remote patient monitoring, from 20% in 2021 to 81% currently, with 84% planning to expand their usage in 2024. Therefore, the emphasis on remote patient monitoring is driving the connected drug delivery device market.
What Are the Major Segments of the Connected Drug Delivery Devices Market?
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
What New Trends Are Transforming the Connected Drug Delivery Devices Market?
In the connected drug delivery devices market, companies are focused on innovative technologies like digital respiratory health solutions. These devices facilitate medication delivery to the respiratory system while tracking usage data. For instance, in February 2022, AptarGroup introduced HeroTracker Sense, a tool that converts traditional inhalers into smart devices to improve medication adherence for chronic respiratory conditions. It includes analytics sensors and supports patient adherence monitoring via the BreatheSmart app.
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Which Regions Are Driving Growth in the Connected Drug Delivery Devices Market?
North America was the largest region in the connected drug delivery market in 2023. 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.
The Connected Drug Delivery Devices Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the connected drug delivery devices market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Connected Drug Delivery Devices Market Include
1. Connected Drug Delivery Devices Market Executive Summary
2. Connected Drug Delivery Devices Market Segments
3. Connected Drug Delivery Devices Market Size And Template Market Growth Rate
4. Key Connected Drug Delivery Devices Market Trends
5. Major Connected Drug Delivery Devices Market Drivers
……
25. Key Mergers And Acquisitions In The Connected Drug Delivery Devices Market
26. Top Connected Drug Delivery Devices Companies
27. Connected Drug Delivery Devices Market Opportunities And Strategies
28. Connected Drug Delivery Devices Market, Conclusions And Recommendations
29. Appendix
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