Connected Drug Delivery Devices Market Size, Share & Growth Report 2032

Connected Drug Delivery Devices Market: Industry Perspective

The global connected drug delivery devices market size was worth around USD 436 million in 2023 and is predicted to grow to around USD 3,854.30 million by 2032 with a compound annual growth rate (CAGR) of roughly 27.52% between 2024 and 2032.

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Global Connected Drug Delivery Devices Market: Overview

In spite of uncertainties related to economic and political scenarios in the last few years, the global healthcare industry is growing continuously owing to technological advancements related to pharmaceuticals, medical devices, in-vitro diagnostics, and others. The key healthcare markets globally are witnessing an increased demand for critical care services, which, in turn, are driving global healthcare spending levels to new heights. The demand and popularity of the connected drug delivery devices market across the globe can be attributed to the growing awareness about the various harmful effects of non-adherence to the prescribed medicines by healthcare professionals.

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Global Connected Drug Delivery Devices Market: Growth Factors

The major growth driver of the globally connected drug delivery devices market in the future is the growing awareness about the various harmful effects of non-adherence to the prescribed medicines by healthcare professionals. Other factors that are anticipated to contribute notably toward the expansion of the connected drug delivery devices market globally over the estimated timeframe include the rising adoption rates of IoT, engagement, and patient connectivity, the growing prevalence of chronic diseases, such as CVD, cancer, depression, etc., and increasing geriatric population base. Furthermore, growing awareness among patients regarding connected drug delivery devices and increasing investments made for innovation in the healthcare sector are projected to positively impact the market for connected drug delivery devices in the years ahead.

Global Connected Drug Delivery Devices Market: Segmentation

The globally connected drug delivery devices market is categorized into product type, application, technology, and end-user.

By product type, the connected drug delivery devices market includes inhalation devices and injectable devices (wearable and handheld injectable devices).

Based on application, the market for connected drug delivery devices is classified into hormone replacement, diabetes, cardiovascular diseases, anaphylaxis, and others. Based on technology, the market is segmented into near-field communication and Bluetooth.

Based on technology, the Bluetooth segment led the market with the highest revenue share in 2023 and is expected to see lucrative growth over the forecast period. As opposed to other technology, a significant number of connected drug delivery devices operate with Bluetooth as it is readily accessible and cheaper technology. This technology can be integrated with smartphones and media devices and is the most commonly used technology. This parameter is estimated to exhibit sustainable growth during the upcoming years.

The end-user segment of the connected drug delivery devices market includes home care, hospitals, and clinics.

Connected Drug Delivery Devices Market: Report Scope

Global Connected Drug Delivery Devices Market: Regional Analysis

The North American region is projected to dominate the globally connected drug delivery devices market over the estimated time period. This can be attributed to the increasing collaborations between healthcare service providers and customers and improving penetration related to big data analytics and artificial intelligence in developing healthcare technologies. Furthermore, the rising geriatric population base in the U.S. also is driving the patient monitoring and home healthcare devices demand, which, in turn, is likely to fuel the North American market for connected drug delivery devices globally in the future.

Europe is expected to emerge as the second leading market for connected drug delivery devices in the future. Spain, Italy, Germany, and France are likely to witness increased demand for connected drug delivery devices in the years ahead, growing digitalization in the healthcare sector, and increasing adoption of connected drug delivery devices among other mobile health-related devices.

Connected Drug Delivery Devices Market: Competitive Analysis

The global connected drug delivery devices market is dominated by players like:

• BioCorp Production
• CeQur
• Care TRx
• Cohero Health
• Sagentia
• OPKO Health
• 3M Company
• West Pharmaceutical Services
• Propeller Health
• Bayer AG

The global connected drug delivery devices market is segmented as follows:

By Product Type Segment Analysis

• Injectable Devices
• Inhalation Devices
• Others

By Application Segment Analysis

• Hormone Replacement
• Diabetes
• Cardiovascular Diseases
• Anaphylaxis
• Others

By Technology Segment Analysis

• Bluetooth
• NFC [Near Field Communication]
• Others

By End-User Segment Analysis

• Home Care
• Hospitals
• Clinics

By Regional Segment Analysis

• North America

  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa