Connected Drug Delivery Devices Market

Global Market Analysis and Industry Forecast: 2021-2028


Release Date: February 2022 | Number of Pages: 185 | No. of Charts & Figures: 130 | No. of Tables: 67

REPORT OVERVIEW

The Connected Drug Delivery Devices involve the integration of wireless connectivity such as Bluetooth and NFC with traditional drug delivery devices. Connectivity can be achieved by attaching reusable connected add-on sensors with any existing drug delivery device such as an inhaler and insulin pen device, other options involve integrated connectivity. After establishing the Bluetooth connection, the connected drug delivery devices collect and send the device usage data to the mobile app, and from there to the cloud for further access by the patients, payers, and physicians.

Due to the benefits associated with maintaining device usage records, dose reminders, and providing audio-visual feedback for improving device user experience, the connected drug delivery devices become the innovative solution for user training, remote patient monitoring, improving patient medication adherence rate, and managing chronic diseases such as asthma & COPD, and Diabetes.

The global connected drug delivery devices market was valued at $239.07 million in 2020 and is estimated to reach $1,648.73 million by 2028, registering a CAGR of 24.57% from 2021 to 2028.

Factors that drive the market growth involve, (1) An increase in investment pertaining to healthcare IT infrastructure: For instance, in 2020 venture capital funding in digital health reached $14.8 Billion with a 66% increase from 2019, and telemedicine was the top-funded category with $4.3 Billion.

(2) Rising patient awareness about adherence to prescribed therapies: Currently, up to 30% of prescriptions for treating chronic conditions are never filled, and across major indications, more than 50% of patients stop taking medications within the first year. According to the New England Healthcare Institute, this Non-adherence to prescribed medication translates into USD 290 billion value lost annually in the U.S. alone.

Other factors that boost the market growth involve; the rise in the prevalence of chronic diseases, and increasing demand for patient connectivity and engagement. However, the high cost associated with the devices, and concerns over patient data privacy and transfer are expected to hamper the market growth.

By so far there are currently 6 approved connected drug delivery devices available in the market including smart inhalers solutions provided by Adherium and Propeller Health, and BioCorp's Mallya, a clip-on device for insulin pen devices. Other expected approvals include the BD Libertas™ Wearable injector with the smart option, Ypsomed SmartPilot™, and Flexi-Q eMU-P™, a connected electronically powered auto-injector by Elcam 3D.

The report also presents a detailed quantitative analysis of the current market trends and future estimations from 2021 to 2028. The forecasts cover By 5 Device Types, 2 Product Types, 3 Technology Types, 3 Applications, and 4 Regions.

The report comes with an associated file covering quantitative data from all numeric forecasts presented in the report.

KEY FINDINGS

The report has the following key findings:


  • The global connected drug delivery devices market accounted for $239 million in 2020 and is estimated to reach $1,648 million by 2028, registering a CAGR of 24.57% from 2021 to 2028.

  • By Device Type Inhalers segment has accounted for the highest market share in 2020 follows by the Pen and Auto-injector segment.

  • Add-on Connected Sensors was the largest contributor among the product type segments.

  • Among the Application type, Asthma and COPD segment is expected to continue its dominance throughout the forecast period.

  • North America dominated the global connected drug delivery devices market in 2020 and is projected to continue its dominance in the future.

  • In the Asia Pacific region, China and Japan are expected to grow at the highest CAGR during the forecast period.

TOPICS COVERED

The report covers the following topics:


  • Market Drivers, Restraints, and Opportunities

  • Porter's Five Forces Analysis

  • COVID-19 Impact on connected drug delivery devices industry

  • Analysis of by Device Type, Product Type, Technology, Application, and Region

  • 20 Company Profiles, Product Portfolio, Financial overview, and Key Strategies

  • Market analysis and forecasts from 2018 to 2028

  • Conclusion

COMPANIES COVERED

  • Adherium Limited

  • Aptar Pharma

  • Bayer AG

  • BD

  • BioCorp

  • Credence MedSystems, Inc

  • Elcam 3D

  • Enable injections Inc

  • FindAir

  • Medmix

  • Nemera

  • Owen Mumford

  • Phillips-Medisize

  • Propeller Health

  • Recipharm AB

  • SHL Group

  • Stevanato Group

  • The PARI Group

  • West Pharmaceutical Services, Inc

  • Ypsomed Holding

FORECAST SEGMENTATION

By Device Type

  • Inhalers

  • Pen and Auto-Injectors

  • Prefilled Syringes

  • Wearable Injectors

  • Others

By Product Type

  • Add-on Connected Sensors

  • Integrated Connected Devices

By Technology

  • Bluetooth

  • NFC

  • Others

By Application

  • Asthma and COPD

  • Diabetes

  • Others

By Region

  • North America: USA, Canada, Mexico

  • Europe: UK, Germany, France, Italy, Russia, Rest of Europe

  • Asia-Pacific: China, Japan, South Korea, India, Rest of Asia-Pacific

  • LAMEA: Brazil, South Africa, Rest of LAMEA

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