The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Market Overview

The connected drug delivery market has seen exponential growth in recent years.

• 2023: Market size was $6.02 billion.
• 2024: Expected to grow to $7.48 billion, with a CAGR of 24.3%.
• Growth drivers: Increased awareness of connected devices, importance of remote monitoring for medication adherence, patient engagement, consumer adoption, and rising medical management costs.

Future Projections

The market is expected to continue its exponential growth trajectory.

• 2028: Projected to reach $17.67 billion, maintaining a CAGR of 24%.
• Growth factors: Increasing prevalence of chronic diseases, patient awareness about adherence, advancements in healthcare IT infrastructure, emphasis on preventive care, adoption of connected devices for maintaining electronic health records (EHR).

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Major Trends

Several trends are shaping the future of the connected drug delivery market.

• Increasing R&D activities and technological innovations.
• Enhanced connectivity of devices.
• Adoption of machine learning and artificial intelligence.
• Implementation of telehealth platforms with AR/VR technologies.
• Rising use of electronic technology in healthcare devices.

Accelerating Connected Drug Delivery Devices With The Rise Of Remote Patient Monitoring

Remote patient monitoring (RPM) is driving the market forward.

• RPM tracks patient health and medical data from a distance.
• Connected drug delivery devices improve RPM by ensuring accurate medication tracking and adherence.
• Example: Vivalink Inc. survey in August 2023 showed a 305% increase in RPM usage among clinicians from 2021 to 2023, with 84% planning to expand RPM in 2024.

Key Players

Major companies in the connected drug delivery devices market:

• Pfizer Inc.
• Johnson & Johnson
• Bayer AG
• AstraZeneca PLC
• Abbott Laboratories
• Novartis AG
• Medtronic PLC
• Eli Lilly and Company
• Amgen Inc.
• Tandem Diabetes Care Inc.
• Ypsomed AG
• Meridian Medical Technologies LLC
• Propeller Health
• Findair Sp. z.o.o.

Navigating The Future Of Respiratory Disease Management With Connected Devices

Companies are focusing on innovative technologies to improve respiratory health.

• Digital respiratory health solutions track medication usage and health data.
• Example: AptarGroup Inc. launched HeroTracker Sense in February 2022, transforming traditional inhalers into smart, connected devices for conditions like asthma and COPD.

Strategic Acquisitions

Strategic acquisitions are shaping the market.

• Example: Halozyme Therapeutics Inc. acquired Antares Pharma Inc. in May 2022.
• Purpose: Enhance strategy, solidify position as a top drug delivery firm, expand with auto-injector technology and specialty commercial business.

Market Segmentation

The connected drug delivery devices market is segmented by:

• Type: Standalone Components and Software, Integrated Devices
• Technology: Bluetooth, Near-Field Communication (NFC), Other Technologies
• Administration: Parenteral, Inhalational
• Application: Asthma, Chronic Obstructive Pulmonary Disease, Diabetes Management, Other Applications

Regional Insights

North America was the largest region in the connected drug delivery market in 2023, reflecting the advanced healthcare infrastructure and high adoption of innovative medical technologies in the region.

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