Connected Drug Delivery Devices Market By Product Type (Inhalation Devices, Injectable Devices, Handheld Injectable Devices, Wearable Injectable Devices), End User (Hospitals, Clinics, Home Care), Technology (Bluetooth, Near Field Communication), Application (Anaphylaxis, Cardiovascular, Diabetes) & Region – Forecast 2022 – 2028

Connected Drug Delivery Devices Market Snapshot

[228 Pages Report] The global Connected Drug Delivery Devices Market size was estimated at US$ 330 Mn in 2021, and is expected to reach US$ 1.6 Bn by 2028, expanding at a stellar CAGR of 23.6%.

Sales of connected drug delivery devices contribute 3.7% share to the global novel drug delivery system market. Drug delivery in nanotechnology has been extensively researched on, and this is expected to spawn new innovative drug delivery methods going ahead.

Demand Analysis of Connected Drug Delivery Devices (2015 to 2021) Vs Market Predictions (2022 to 2028)

The healthcare industry has seen major changes over the past years, and most of these were driven by increased technological proliferation in the industry. Drug delivery has become one of the most researched areas in the healthcare industry, and since patient engagement has become essential in the medical sector, demand for connected drug delivery devices has also risen significantly.

Injectable drug delivery devices are expected to be most popular over the next few years as they have multiple functionalities and can be used for drug tracking, drug delivery, as well as drug identification. Rising preference for these among the population is expected to boost sales of injectable drug delivery devices over the forecast period.

Rising penetration of IoT (Internet of Things) in the medical industry, advances in drug delivery nanotechnology, innovative product launches, increasing awareness about connected drug therapy, and rising trend of home care are some of the major factors that are positively influencing the sales of connected drug delivery devices across the globe.

Demand for connected drug delivery devices increased at a phenomenal CAGR of 26.3% from 2015 to 2021, and is slated to continue surging at 23.6% CAGR from 2022 to 2028,

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Which Regions Should Connected Drug Delivery Device Manufacturers Focus On?

This research details the global connected drug delivery devices industry across North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa (MEA).

The North America connected drug delivery devices market, which is set to hold a significant market share of 51.5% in 2022, is expected to maintain this dominance over the forecast period as well. Increasing healthcare expenditure and rising awareness are majorly propelling the sales of connected drug delivery devices in the region.

The market for connected drug delivery devices in Europe holds the second-highest market share of over 28%. Demand for connected drug delivery products in Europe is expected to rise at the fastest CAGR among all regions. Rapid growth can be attributed to increasing prevalence of chronic diseases in the region.

Market growth of connected drug delivery devices in East Asia, South Asia, and the Pacific is expected to see limited due to major factors influencing the sales and adoption of connected drug delivery devices. Majorly, high cost of connected drug delivery devices is restraining the market potential in these regions.

Connected drug delivery system manufacturers can target these regions to gain from the untapped market potential with competitive pricing and affordable products.

The connected drug delivery devices market in the MEA region, which merely contributes 1.9% to the global market share, is expected to rise at a sluggish CAGR. This is majorly due to high costs and little to no awareness about connected drug delivery devices.

However, as the region develops, it would offer some good opportunities for manufacturers and distributors of connected drug delivery devices to boost their sales.

Connected Drug Delivery Devices Market - Country-wise Analysis

What is the U.S. Connected Drug Delivery Systems Market Stance?

The healthcare industry in the U.S. has been experiencing great growth over the past few years, and is expected to continue to do so over the forecast period as well. The nation has seen substantial increase in the adoption of connected drug delivery equipment.

Factors such as high per capita healthcare spending, rising adoption of new medical technologies, and increasing awareness about the adverse effects of non-compliance with drug therapy are majorly driving the sales of connected drug delivery products in the U.S.

How are Sales of Connected Drug Delivery Devices Expected to Perform in Japan?

The Japanese connected drug delivery devices market in 2022 is slated to hold 5.1% share of the global market. The nation is always regarded as one of the most technologically advanced in the world, and it only befits that Japan is leading the adoption of healthcare and medical technologies than most nations.

Japan has very high technological proliferation in the healthcare sector, and this makes it a very lucrative market for connected drug delivery device suppliers.  Demand for connected drug delivery equipment is also expected to be boosted by the rising geriatric population in Japan, which is also fuelling demand for home care solutions in the nation.

Sales of connected drug delivery systems are expected to see a rise over the forecast period as the popularity and effectiveness of these devices rise.

Connected Drug Delivery Devices Market - Category-wise Analysis

Which Technology is Most Used for Connected Drug Delivery Devices?

Connected drug delivery devices work majorly on two technologies - Bluetooth and near field communication (NFC). Bluetooth technology connected drug delivery devices contribute more than 3/5 of the global revenue of the industry. This segment is expected to further grow as advancements in Bluetooth technology pace over the coming years. Low cost of implementation and easy availability make Bluetooth the first choice for many connected drug delivery device manufacturers.

However, NFC technology connected drug delivery devices are expected to rise at the fastest CAGR as these devices are becoming popular for drug identification and tracking purposes, along with having more flexibility and versatility than Bluetooth-operated devices.

Connected Drug Delivery Devices Market - COVID-19 Impact Analysis

The COVID-19 pandemic of 2020 took the world by storm and exposed the healthcare system. This fueled the already increasing trend of revolutionizing the healthcare infrastructure to better accommodate technological proliferation.

While most markets toppled across the globe in 2020, the connected drug delivery devices market showed good growth even in the face of tough times where most of the world was in lockdown.

Demand for connected drug delivery devices was driven by sudden surge in demand for drug delivery solutions for home care use, since people were prohibited to go out under lockdown restrictions. This led to an increase in the adoption of connected drug delivery devices technology, which has been gaining momentum over the past few years.

Sales of connected drug delivery device producers are expected to continue to grow in the post-pandemic era as awareness about their uses increases on a global scale.

Connected Drug Delivery Devices Industry Report Scope

Key Segments of Connected Drug Delivery Devices Industry Survey

Connected Drug Delivery Devices Market by Product Type:

• Inhalation Devices
• Injectable Devices
  • Handheld Injectable Devices
  • Wearable Injectable Devices

Connected Drug Delivery Devices Market by End User:

• Hospitals
• Clinics
• Home Care

Connected Drug Delivery Devices Market by Application:

• Anaphylaxis
• Cardiovascular
• Diabetes
• Hormone Replacement
• Others

Connected Drug Delivery Devices Market by Technology:

• Bluetooth Drug Delivery Devices
• Near Field Communication Drug Delivery Devices

Connected Drug Delivery Devices Market by Region:

• North America Connected Drug Delivery Devices Market
• Latin America Connected Drug Delivery Devices Market
• Europe Connected Drug Delivery Devices Market
• East Asia Connected Drug Delivery Devices Market
• South Asia & Pacific Connected Drug Delivery Devices Market
• Middle East & Africa (MEA) Connected Drug Delivery Devices Market