Connected Drug Delivery Devices Market Forecast 2024 to 2032
The market is driven by the increasing demand for personalized healthcare solutions and advancements in digital health technologies.
In residential settings, connected drug delivery devices are smart wireless electronic systems that enhance patient monitoring and counselling. They are equipped with sensors, adherence trackers, dose reminders, monitoring systems, and teaching tools that provide real-time feedback and individualised patient care. They are more affordable and practical than care received in a clinic. As a result, connected drug delivery devices are frequently used in the remote monitoring of patients suffering from conditions like asthma, diabetes, hepatitis C, hypertension, tuberculosis, multiple sclerosis, clinically isolated syndrome, chronic obstructive pulmonary disease (COPD), and those who have received kidney and liver transplants.
Report Overview
The Connected Drug Delivery Devices Market was valued at USD 0.27 Billion in 2022 and is expected to register CAGR of 15.4% by 2032.
One of the key reasons for the demand for connected drug delivery devices is the fast-rising expense of medical management and the growing desire to enhance patient treatment outcomes. In addition, a movement in consumer preferences in favour of home-based care is promoting market expansion. Additionally, the market is benefiting from an increase in the number of people with chronic conditions and a greater emphasis on preventative care. Additionally, the market is anticipated to rise due to the widespread use of linked devices in hospitals and labs to maintain electronic health records (EHR).
The Connected Drug Delivery Devices Market is segmented By Technology (Bluetooth, NFC), By End Users (Connected Sensors, Integrated Connected Devices)
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Report Coverage:
By Type | Bluetooth NFC |
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By End Users | Connected Sensors Integrated Connected Devices |
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By Region | North America Latin America Western Europe Eastern Europe Middle East & Africa Asia Pacific Emerging Countries |
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Report Base Year | 2022 | ||
Report Forecast Year | Upto 2032 | ||
Historical Data | 2018-2022 | ||
Qualitative Info | Value Chain Analysis Pricing Analysis Regional Outlook Market Trends Market Share Analysis Competition Analysis Technological Advancements |
Market Drivers
High Operational Performance of Connected Drug Delivery Devices
Smartphones can be linked to connected drug delivery devices using Near Field Communications (NFC) and Bluetooth to enable dosing control and dosage monitoring features. These devices still come with patient education tools that lessen dosage errors, which lowers hospitalisation and treatment costs. For instance, in a study conducted in 2016 by one of the industry leaders in connected drug delivery systems, patients who used sensor-connected inhalers experienced a 60.0% decrease in hospital visits. The expansion of the connected drug delivery device market is anticipated to be driven by increased research and development initiatives, which are anticipated to offer more services to patients.
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Key Questions Addressed in the Report Include:
Which market segments are generating the most revenue?
What is the geographical outlook for various market segments?
Where are the future investment opportunities considering the recent trends?
What is the effect of various market dynamics on the market and how will the market shape in future?
Which are Potential & niche segments and regions exhibiting promising growth?
What are the current challenges in Connected Drug Delivery Devices Market?
Who are the major players in the Connected Drug Delivery Devices Market and what does market share analysis looks like?
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