Connected Drug Delivery Devices Market Size, Share & Industry Analysis, By Type (Injectable Devices and Inhalation Devices & Others) By Technology (Bluetooth, NFC, and Others) By End User (Homecare Settings and Hospitals) and Regional Forecast, 2019-2032

The global connected drug delivery devices market size was valued at USD 361.1 million in 2018 and is projected to reach USD 25,810.9 million by 2032, exhibiting a CAGR of 35.7% during the forecast period (2018-2032). North America dominated the global market with a share of 70.06% in 2018.

Connected drug delivery devices are unified with capabilities that include connectivity to a wide range of digital services. These devices are being developed by various market players with an aim to support superior patient supervision and counselling. Connected drug delivery devices include many features, such as adherence trackers, dosing remainders, and patient diaries to collect health information as well as tools for patient education. These devices are prominently used in the treatment of asthma, chronic obstructive pulmonary disease (COPD), diabetes, and other cardiovascular disorders.

Increasing adoption of electronic technology in healthcare devices coupled with the efficiency of drug delivery devices in treatment procedures are projected to drive the connected drug delivery devices market growth during the forecast period. Combined with this, an increasing prevalence of asthma, COPD, and diabetes is anticipated to offer lucrative opportunity for the increased adoption of connected drug delivery devices during the forecast period. 

For instance, according to a study conducted by the Centers for Disease Control and Prevention (CDC), in 2016, an estimated 26.5 million people in the U.S. were suffering from asthma.

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Furthermore, certain factors, such as increasing healthcare expenditure, rising disposable incomes, increasing awareness of connected devices in developing nations is projected to fuel the market growth by 2026.

MARKET DRIVERS

“Increasing Prevalence of Chronic Diseases to Propel Growth of Market”

The increasing prevalence of chronic diseases, such as asthma, COPD, and diabetes across the globe is creating substantial amount of opportunities for the growth of the market. For instance, according to a study conducted by the Global Burden of Disease, in 2015, the prevalence of COPD grew by an estimated 14.7% during 1990-2015. 

Additionally, there is a gradual shift of preference from manual drug delivery devices to the connected drug delivery devices owing to their possession of superior benefits.

Rising emphasis on preventive care is one of the prominent factors anticipated to boost the adoption of connected drug delivery devices during the forecast period. The Lancet Respiratory Medicine, for instance, had published a study in 2015. It reported that the adoption of smart inhalers amongst asthmatic children in New Zealand grew up to 84.0% during 2014-2015.

“Superior Procedural Outcomes of Connected Drug Delivery Devices to Augment Growth”

Connected drug delivery devices can be connected with smartphones with the help of Near Field Communications (NFC) and Bluetooth, enabling dose monitoring and dosing remainder mechanisms. Additionally, these devices offer patient education tools which minimizes the errors in dosing procedures, resulting into reduction in hospitalization and treatment costs. 

For instance, a study conducted by Propeller Health, one of the prominent players in connected drug delivery devices states that, in 2016, patients who used sensor connected inhalers witnessed an estimated 60.0% reductions in the hospital visits during the course of the study. Additionally, extensively increasing research and development activities are projected to offer more facilities to the patients, which will eventually drive the global market by 2026.

SEGMENTATION

By Type Analysis

“Injectable Devices Segment to Dominate Stoked by Possession of Numerous Benefits”

In terms of type, the market is categorized into injectable devices and inhalation devices & others. The injectable devices segment is estimated to account for the maximum portion of the market. Certain factors, such as the numerous benefits offered by smart injectable devices over the traditional injectable devices and an increasing prevalence of chronic conditions, namely, cancer, neural disorders, diabetes, and others are actively contributing in the growth of the injectable devices segment. 

Moreover, entry of many drug manufacturers to develop smart injectable devices is projected to offer significant growth opportunities for the injectable devices segment during the forecast period.  

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The inhalation devices & others segment, on the other hand, is expected to propel owing to the growing prevalence of asthma, chronic obstructive pulmonary disorders (COPD), and other respiratory diseases. Also, the rising emphasis on the utilization of digital devices for better treatment outcomes would accelerate growth. Moreover, increasing collaborations between the market players and healthcare institutions is further expected to expand the inhalation devices segment in the connected drug delivery devices market during the forecast period.

By Technology Analysis

“Higher Usability and Compatibility in Connected Drug Delivery Devices Expected to Boost Bluetooth Segment”

On the basis of technology, the market can be segmented into Bluetooth, near field communication (NFC), and others. In terms of revenue, the Bluetooth segment is estimated to dominate the market owing to the higher utilization of the technology in order to connect drug delivery devices to smartphones. Moreover, higher compatibility of Bluetooth technology with other drug delivery devices and ease of use is expected to drive the Bluetooth segment over the forecast period. 

Furthermore, numerous benefits offered by the NFC devices, such as extended battery life and superior data transmission are projected to increase the adoption of these devices, which will eventually drive the growth of the NFC segment by 2026.

By End User Analysis

“Homecare Setting Segment to Lead: Increasing Adoption of Connected Drug Delivery Devices Will Favor Growth”

On the basis of end user, the market is segmented into homecare settings and hospitals. The homecare settings segment is estimated to dominate the market throughout the forecast period. An increasing adoption of the connected drug delivery devices owing to a need to provide better patient experience, coupled with a rise in the prevalence of COPD and asthma are projected to offer substantial amount of growth for this segment in the market.

Besides, the rapidly developing healthcare infrastructure and rising emphasis on the utilization of improved procedural outcomes are anticipated to offer growth opportunities to the hospital segment in the market during the forecast period.

REGIONAL ANALYSIS

North America generated a revenue of USD 253.0 million in 2018 and is projected to dominate the global connected drug delivery devices market throughout the forecast period. Highly developed healthcare infrastructure and healthcare spending, presence of significant market players, and strategic collaborations are the major factors attributable to the dominance of this region in the market. Combined with this, an increasing prevalence of chronic diseases in the U.S. and rising focus on preventive care are anticipated to drive growth of this region during the forecast period.

In Europe, the increasing adoption of connected drug delivery devices and growing demand for digital medical devices in Germany, UK, & France, owing to a need to enhance the patient experience are attributable to the growth of the market in this region.

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In Asia Pacific, increasing awareness about connected drug delivery devices, cost benefits, and rapid adoption of medical technology in China, India, etc. are generating huge opportunities for the growth of the market. In the rest of the world, implementation of intense marketing strategies by market players, increasing healthcare spending, and expected expansion of the distribution network of key players are some of the primary factors augmenting the market.

INDUSTRY KEY PLAYERS

“Adherium, Propeller Health, and Others to Hold Considerable Market Share”

The global market is a highly fragmented market as a large number of players operate actively here. Adherium, Propeller Health (A ResMed Company), and Cohero Health Inc. are expected to lead the smart inhalers market. Certain factors, such as ownership of technology, emphasis on research & development activities, and robust focus on the consolidation of sales channels are attributable for the companies to hold major connected drug delivery devices market share. 

Also, players, namely, Roche, F. Hoffmann-La Roche Ltd., West Pharmaceutical Services, and others are actively contributing in the connected injectable devices segment owing to their well-established marketing channels and strong brand presence.

List Of Key Companies Profiled:

• Proteus Digital Health


• Ypsomed Holding


• F. Hoffmann-La Roche Ltd


• BD


• West Pharmaceutical Services


• Propeller Health (A ResMed Company)


• Adherium


• Cohero Health, Inc.

KEY INDUSTRY DEVELOPMENTS:

• June 2021 - Adherium Limited announced that they submitted their 510(k) application to the U.S. FDA for the market clearance of their first generation Hailie sensor which has physiological measures to monitor Asthma and COPD medication use.


• November 2019 - Lupin announced the launch of a new connected smart device, ADHERO which is a metered dose inhaler for patients with chronic respiratory diseases. This device helps the patients to track their MDI usage and helps them improve their adherence to the therapy.

REPORT COVERAGE

The connected drug delivery devices market report provides detailed information regarding various insights of the market. Some of them are growth drivers, restraints, competitive landscape, regional analysis, and other related challenges. It further offers an analytical depiction of the market trends and estimations to illustrate the forthcoming investment pockets. It is quantitatively analyzed from 2019 to 2026 to provide the financial competency of the market. The information gathered in the report has been taken from several primary and secondary sources.

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Along with this, the report provides an elaborative analysis of the global market dynamics and competitive landscape. Various key insights presented in the report are the technological advancements in market, new product launches by key players, key industry developments: mergers, acquisitions & partnerships, regulatory scenarios, and trends of usage of connected drug delivery devices.

REPORT SCOPE & SEGMENTATION