Connected Drug Delivery Devices Market Overview

According to Maximize Market Research, a renowned global business research and consultancy firm, the total global market for the "Connected Drug Delivery Devices Market"size was valued at USD 1219.93 Mn. in 2022 and the total Connected Drug Delivery Devices revenue is expected to grow at a CAGR of 36.10% from 2023 to 2029, reaching nearly USD 10552.30 Mn. This growth is attributed to various factors such as technological advancements, increasing demand for the product/service, expanding market penetration, and favourable industry trends.

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The Connected Drug Delivery Devices Market report meticulously estimates market size, scrutinizing both current and future trends. It delves into essential aspects, including key developments, marketing strategies, supply-demand indicators, and company profiles. Employing a bottom-up approach, drawing from primary and secondary data sources, the report presents a comprehensive analysis spanning local, regional, and global dimensions, enhancing the depth of insights. The report encompasses historical data, prevailing trends, technological innovations, and an assessment of market risks, drivers, opportunities, and challenges. Utilizing SWOT and PORTER analysis, the report serves as a comprehensive guide for investors and stakeholders in the Connected Drug Delivery Devices market.

Market dynamics for Connected Drug Delivery Devices:

A High Rate of Chronic Illnesses

Globally, the incidence of chronic conditions including diabetes, COPD, and asthma is on the rise, which presents enormous potential for the connected drug delivery devices market to flourish. For example, a study on diabetes prevalence predictions for 2021 released in January 2022 by the National Library of Medicine and National Centre for Biotechnology Information indicated that 10.5% of people aged 20 to 79 had diabetes in 2021 and that number might increase to 12.2% by 2045. Diabetes is predicted to affect both men and women equally, with people 75 to 79 years old having the highest prevalence.

Connected Drug Delivery Devices Market Segmentation

With the biggest share of over 64% in the Connected Drug Delivery Devices market in 2021, the Connected Sensors segment led the market based on product and is anticipated to expand at a CAGR of 35.5% over the course of the forecast period. In fact, if the device is disposable, attached sensors can be reused in conjunction with current delivery systems without causing any disruption to their normal functioning. These sensors are subdivided into linked inhaler sensors and connectable injectable sensors.

In 2021, the Connected Drug Delivery Devices market was dominated by the Healthcare Providers sector, which had the greatest market share among End-users. Over the course of the projection period, the category is anticipated to continue to dominate with the highest CAGR of over 32.8%. Adequate patient health record-keeping is necessary due to the increased prevalence of chronic diseases such as diabetes, cardiovascular conditions (CVDs), and lung cancer. Connected drug delivery systems store health data in addition to tracking medication delivery and use. The goal of clinicians is to treat as many patients as possible with the greatest potential health outcomes. For the benefit of the patient, they want to ensure adherence, and they are thinking about using linked devices to do so.

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Connected Drug Delivery Devices Market Key Players

Key players in the Connected Drug Delivery Devices market are featured in the report.

1. Propeller Health (US)
2. West Pharmaceutical Services, Inc. (US)
3. 3M Company (US)
4. OPKO HEALTH, INC. (US)
5. BD Medical - Pharmaceutical Systems (US)
6. Antares Pharma, Inc. (US)
7. Johnson & Johnson Services, Inc. (US)
8. CeQur Corporation (US)
9. SMC Ltd. (US)
10.Philips Medisize (US)
11.ViVO Smart Medical Devices Ltd. (UK)
12.Sagentia (UK)
13.Bayer AG (Germany)
14.Gerresheimer AG (Germany)
15.Merck Group (Germany)
16.Biocorp Production SA (France)
17.Sanofi (France)
18.Novartis AG (Switzerland)
19.Sulzer Ltd. (Switzerland)
20.MEDMIX SYSTEMS AG. (Switzerland)
21.Novosanis NV (Belgium)
22.FindAir (Poland)
23.Adherium Lmited (New Zealand)

Connected Drug Delivery Devices Market Regional Insights

The report offers an exhaustive Regional Analysis, providing an in-depth examination of the current status of the Connected Drug Delivery Devices market in different countries. It scrutinizes factors, market size, growth rates, and import-export dynamics at regional and country levels. The analysis encompasses North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa as the primary segments for the Connected Drug Delivery Devices market.

Table of content for the Connected Drug Delivery Devices Market includes:

Part 01: Executive Summary

Part 02: Scope of the Connected Drug Delivery Devices Market Report

Part 03: Global Connected Drug Delivery Devices Market Landscape

Part 04: Global Connected Drug Delivery Devices Market Sizing

Part 05: Global Connected Drug Delivery Devices Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

Key questions answered in the Connected Drug Delivery Devices Market are:

What is Connected Drug Delivery Devices?
What was the Connected Drug Delivery Devices market size in 2022?
What are the different segments of the Connected Drug Delivery Devices Market?
What growth strategies are the players considering to increase their presence in Connected Drug Delivery Devices?
What are the upcoming industry applications and trends for the Connected Drug Delivery Devices Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Connected Drug Delivery Devices Market?
Who are the key players in the Connected Drug Delivery Devices market?
What major challenges could the Connected Drug Delivery Devices Market face in the future?
What segments are covered in the Connected Drug Delivery Devices Market?
Who are the leading companies and what are their portfolios in Connected Drug Delivery Devices Market?
About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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