Connected Drug Delivery Devices Market Size, Share & Trends Analysis Report By Technology (Bluetooth, NFC), By Product (Connected Sensors, Integrated Connected Devices), By End User, And Segment Forecasts, 2021 - 2028

Report Overview

The global connected drug delivery devices market size was valued at USD 214.10 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 46.7% from 2021 to 2028. Increased patient engagement and connectivity owing to the growing penetration of the Internet of Things (IoT) in the medical devices sector is anticipated to drive the market. During the Covid-19 pandemic, the market experienced exponential growth due to the rising demand for drug delivery solutions, which can be used at home. The product is anticipated to continue to witness tremendous growth in the future as well owing to the rising emphasis on the current trend of improved patient compliance and quality of care, increasing awareness regarding production footprint and associated costs, and growing use of self-administered and connected drug therapy.

Increasing number of programs and initiatives aimed at spreading awareness about the benefits of adherence to therapies prescribed by physicians will also support market growth. Moreover, rising awareness regarding the benefits of connected systems over conventional systems is expected to fuel the product demand, thereby driving the market growth over the forecast period.

Partnerships, collaborations, product approvals & launches, and acquisitions have positively impacted the market in recent years. Market players involved in the development and production of sensors are also conducting various medical programs for the same.

For instance, Propeller Health has organized around 60 connected medical programs to highlight technological challenges associated with the management of drug delivery devices and has added value to connected drug delivery devices. These devices help physicians to monitor the compliance of patients to the therapy prescribed by them as well as to modify treatments as required.

Product Insights

The connected sensors segment dominated the market and accounted for the highest revenue share of over 68% in 2020. Connected sensors can be integrated with the existing delivery devices without interfering with their normal functioning and can be reused even if the device is disposable. These sensors are further divided into connectable injection sensors and connected inhaler sensors. The integrated connected devices segment is expected to register the fastest CAGR over the forecast period. The integrated connected devices segment is also sub-segmented into connected inhalation devices and connected injection devices.

Various advantages of inhalation devices over injection devices, such as needleless drug delivery, have led to increased use of inhalation devices. The increasing incidence of chronic respiratory diseases, such as asthma and Chronic Obstructive Pulmonary Disease (COPD), is expected to boost the demand for inhalation devices in the market. According to a 2019 study by the Centers for Disease Control & Prevention (CD), globally, 1 out of 13 people suffered from asthma. In addition, increasing connectivity, due to IoT and other technologies, is expected to drive the market in the coming years.

End-user Insights

The healthcare providers segment accounted for the largest revenue share of more than 50.0% in 2020 owing to the increased cases of COPD, Cardiovascular Diseases (CVDs), diabetes, and other chronic diseases, which require proper maintenance of health records of the patient. Connected drug delivery devices monitor the drug usage as well as its delivery and also maintain the health records.

On the other hand, the homecare segment is estimated to register the fastest CAGR from 2021 to 2028 owing to the increasing product acceptance in homecare settings. These devices assist with the administration of medications in homecare settings without any errors linked with drug delivery and without the assistance of healthcare providers. These factors are expected to drive the segment growth.

Technology Insights

The Bluetooth technology segment accounted for the largest revenue share of 65.3% in 2020 owing to the high usage of the Bluetooth technology in drug delivery devices. With the advancements in this technology, the segment is expected to witness significant growth in the coming years. Moreover, the technology is cheaper as well as easily available as compared to NFC and other such technologies.

The NFC segment is expected to account for a considerable market share by 2028 as the NFC technology assists in communicating through the internet as well as mobile apps. Furthermore, the technology is highly adopted for drug identification and tracking. The others segment is expected to demonstrate the fastest CAGR of 57% from 2021 to 2028 as these are cellular technologies prove to be beneficial in transferring data in the connected drug delivery devices. Moreover, these devices overcome the limitations, such as the requirement of a hub and a companion device.

Regional Insights

North America led the global market in 2020 and accounted for a revenue share of over 34%. The region is expected to retain its leading position during the forecast years owing to the high per capita healthcare expenditure, quick adoption of the latest technologies and devices, and rising awareness regarding the adverse effects of non-compliance with drug therapy.

Europe is anticipated to be the fastest-growing regional market over the forecast period owing to the increasing cases of chronic diseases as well as the presence of a large target population base. In regions, such as Asia Pacific (excluding Australia and Japan), Latin America, and MEA, the product demand is expected to remain low in the coming years mainly due to the high costs of these devices. However, with the increasing number of market entrants, the product prices are expected to decrease over time; this will support the market development in such regions.

Key Companies & Market Share Insights

The market leaders are involved in acquisitions and strategic collaborations to withstand the competition. Companies are also investing in product launches to enhance their market position. For instance, in August 2020, Propeller Health entered the Japanese market by launching its digital health sensor for New Enerzair and Atectura Breezhaler asthma medications.

Owing to the global pandemic, there has been a significant demand for connected drug delivery devices as they can be used without the help of healthcare professionals. Patients and healthcare providers are adopting remote monitoring as well as self-management devices, which is likely to provide immense opportunities for market players to demonstrate the effectiveness of their products. Some of the prominent players in the connected drug delivery devices market are:

• Propeller Health

• Teva Pharmaceutical Industries Ltd.

• BIOCORP

• Merck KGaA

• Adherium Ltd.

• West Pharmaceutical Services, Inc.

• Aterica

• Phillips Medisize

• FindAir

• Elcam Medical

Connected Drug Delivery Devices Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the globally connected drug delivery devices market report on the basis of product, end-user, technology and region:

• Product Outlook (Revenue, USD Million, 2016 - 2028)

  • Connected Sensors

    • Connected Inhaler Sensors

    • Connectable Injection Sensors

  • Integrated Connected Devices

    • Connected Inhalation Devices

    • Connected Injection Devices

• End-user Outlook (Revenue, USD Million, 2016 - 2028)

  • Healthcare Providers

  • Homecare

• Technology Outlook (Revenue, USD Million, 2016 - 2028)

  • Bluetooth

  • NFC

  • Other Technologies

• Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa

    • Saudi Arabia