Global Connected Drug Delivery Devices Market was valued US$ 138.19 Mn in 2017 and is expected to reach US$ 812.3 Mn by 2026, at a CAGR of 24.78% during a forecast period.
The connected drug delivery devices market is majorly segmented into product, end-user, technology, disease indication type, treatment type, and region.
Further, connected drug delivery devices market based on product includes connected sensors, and integrated connected devices. Connected drug delivery devices market in terms of end-user is classified into healthcare providers, and homecare centres. Based on connected drug delivery devices market, technology segment is divided into bluetooth, NFC, and other technologies. In terms of disease indication type segment connected drug delivery devices market is categorized into gastric neuroendocrine tumours, lung neuroendocrine tumours, pancreatic neuroendocrine tumours, and appendiceal neuroendocrine tumours. Further, connected drug delivery devices market based on treatment type includes somatostatin analogs, targeted therapy, and chemotherapy.
Based on regions, the global connected drug delivery devices market is divided into five main regions are America, Europe, Asia-pacific, Latin America and Middle East & Africa.
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Global Connected Drug Delivery Devices Market
On the basis of the end-user, the healthcare providers segment led the market with a revenue share and is expected to witness a lucrative market growth during forecast period due to increasing cases of diabetes, Cardiovascular Diseases, Chronic Obstructive Pulmonary Disease, and other chronic diseases are anticipated to create the need for efficient health record systems.
In terms of technology, Bluetooth segment led the market with the highest revenue share and is expected to witness lucrative growth during the forecast period due to a large number of connected drug delivery systems work with Bluetooth as it is easily available and cheaper as compared to other technologies. However, other technologies segment is expected to emerge as the fastest-growing segment in the next few years.
The major driving factor is the rising preference for injectable drug delivery is anticipated to drive the market for antiseptic drugs globally. Self-administration of drugs through the usage of pre-filled syringes is one of the ways that can help patients to save the fees given to a caregiver. There is an increased demand for large molecule drugs in pre-filled syringes as compared to small molecule drugs in pre-filled syringes.
The high price of connected drug delivery devices is anticipated to one of the significant factors in impeding market growth. Additionally, limited knowledge and adoption rate among patients to hinder growth rate.
In terms of region, North America accounted for the largest revenue share and is expected to lead the market over the forecast period owing to quick adoption of latest technologies and devices, high per capita healthcare expenditure, and raising awareness regarding the adverse effects of non-adherence to medication.
Key players operating in the global connected drug delivery devices market are Bayer AG, Propeller Health, West Pharmaceutical Services, Inc, 3M Company, OPKO Health, Sagentia, Cohero Health, Care TRx, CeQur SA, and Biocorp Production SA.
Scope of Global Connected Drug Delivery Devices Market:
Global Connected Drug Delivery Devices Market, by Product:
• Connected Sensors
• Integrated Connected Devices
Global Connected Drug Delivery Devices Market, by End-User:
• Healthcare Providers
• Homecare Centres
Global Connected Drug Delivery Devices Market, by Technology:
• Other Technologies
Global Connected Drug Delivery Devices Market by Disease Indication Type:
• Gastric Neuroendocrine Tumours
• Lung Neuroendocrine Tumours
• Pancreatic Neuroendocrine Tumours
• Appendiceal Neuroendocrine Tumours
Global Connected Drug Delivery Devices Market by Treatment Type:
• Somatostatin Analogs
• Targeted Therapy
Global Connected Drug Delivery Devices Market, by Region:
• North America
• Middle East & Africa
• Asia Pacific
• Latin America
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Key players operating in Global Connected Drug Delivery Devices Market:
• Bayer AG
• Propeller Health
• West Pharmaceutical Services, Inc
• 3M Company
• OPKO Health
• Cohero Health
• Care TRx
• CeQur SA
• Biocorp Production SA