Connected Drug Delivery Devices Market Size, Share, Industry Trends and Forecast to 2030

Connected Drug Delivery Devices Market Size & CAGR in 2021

The global connected drug delivery devices market is projected to witness a significant growth rate with a CAGR of around 7% in 2021. The market size is estimated to reach USD 2.5 billion by the end of the year.

COVID-19 Impact on the Connected Drug Delivery Devices Market

The COVID-19 pandemic has had a mixed impact on the connected drug delivery devices market. On one hand, the increased focus on remote healthcare solutions and the need for contactless drug delivery due to the pandemic have boosted the adoption of connected drug delivery devices. On the other hand, disruptions in the global supply chain and delays in product launches have posed challenges for market players.

Connected Drug Delivery Devices Dynamics

The connected drug delivery devices market is driven by technological advancements in healthcare, increasing prevalence of chronic diseases, and growing demand for personalized medicine. The integration of digital connectivity in drug delivery systems allows patients to monitor their health, share real-time data with healthcare providers, and receive personalized treatment regimens, leading to improved patient outcomes.

Segments and Related Analysis

The connected drug delivery devices market can be segmented based on product type, connectivity type, end-user, and region. Product types include connected inhalers, connected insulin pens, connected infusion pumps, and others. Connectivity types may include Bluetooth, Wi-Fi, NFC, and others. End-users of connected drug delivery devices are hospitals, clinics, home care settings, and others.

By Region Analysis

The connected drug delivery devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the market due to the presence of advanced healthcare infrastructure, increasing adoption of digital health solutions, and high healthcare expenditure. Asia Pacific is expected to witness significant growth in the coming years, driven by rising investments in healthcare technology and growing awareness about connected drug delivery devices.

Key Market Players and Competitive Landscape

Some of the key players in the connected drug delivery devices market include BD (Becton, Dickinson and Company), Insulet Corporation, Pneuma Respiratory, Propeller Health, and Ypsomed. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position and expand their product portfolios.

Recent Happenings in the Connected Drug Delivery Devices Market

- In April 2021, BD (Becton, Dickinson and Company) announced the launch of a new connected insulin pen that offers real-time data tracking and insights for patients with diabetes. - In September 2021, Propeller Health partnered with Novartis to develop a digital platform for patients using Novartis' COPD inhalers to monitor their medication adherence and respiratory health. - In January 2022, Pneuma Respiratory received FDA approval for its connected inhaler device that delivers multiple medications to patients with respiratory conditions.