The Connected Drug Delivery Devices Market is projected to grow at a CAGR of 25.8% from 2024 to 2031, reaching a value of USD 7.8 billion by 2031, up from USD 1.2 billion in 2024. North America is expected to dominate the market throughout the forecast period.
Fast growth of the linked drug delivery systems market can be explained by developments in connectivity technologies, increasing demand for self-administration devices, and higher frequency of chronic diseases. These smart gadgets change patient care and treatment results by means of improved drug adherence, real-time monitoring, and data-driven insights. The COVID-19 epidemic has accelerated the uptake of remote monitoring devices as healthcare systems all over search for strategies to reduce in-person visits and minimize the danger of viral transmission.
Market Trend: Integration of IoT and AI in drug delivery devices
Combined artificial intelligence (AI) technology and Internet of Things (IoT) are changing linked medical delivery systems. By means of their individual apps, real-time data collecting, analysis, and targeted treatment recommendations made possible by these innovative technologies improve patient outcomes and help to save healthcare expenses.
Market Driver: Growing prevalence of chronic diseases
Most of the linked pharmaceutical delivery device market is driven by the increasing global burden of chronic diseases including diabetes, asthma, and cardiovascular diseases. By means of improved medication adherence, customized treatment, and better disease management, these smart devices satisfy the complex needs of patients with chronic diseases.
Market Restraint: Data security and privacy concerns
Sensitive health data collecting and dissemination throughout coordinated medical delivery systems raises major privacy and data security concerns. Potential weaknesses in cyberattacks and unauthorized patient data access damage broad acceptance and could also slow down economic growth.
Among the many kinds of products, linked inhalers seem to have the largest market share, estimated at 45% of the smart inhaler market in 2023. These clever devices aid with asthma control, COPD, and medicine consumption tracking in real time and boost adherence, with studies showing up to a 76% improvement in adherence rates compared to traditional inhalers. The global smart inhaler market was valued at approximately $128 million in 2022 and is projected to reach $1.2 billion by 2030, growing at a CAGR of 25.1% from 2023 to 2030.
Among more recent developments are FDA approval of Teva Pharmaceutical's ProAir Digihaler, the first digital inhaler including built-in sensors tracking and recording inhaler use. Since its approval in 2019, the ProAir Digihaler has captured an estimated 15% of the U.S. smart inhaler market. Clinical trials have shown that patients using the ProAir Digihaler experienced a 31% reduction in rescue inhaler usage and a 22% increase in symptom-free days compared to those using standard inhalers.
North America Leads the Connected Drug Delivery Devices Market
Strong acceptance of digital health technologies, sophisticated healthcare infrastructure, and a large patient population with chronic diseases positions North America as the most likely leader of the linked drug delivery devices industry. The region is estimated to hold approximately 40% of the global market share, valued at $1.7 billion in 2023. This market is projected to grow at a CAGR of 18.2% from 2023 to 2028, potentially reaching $3.9 billion by the end of the forecast period. The area's favorable reimbursement policies and high concentration of significant market players contribute to explain its rather high market share.
In the United States alone, about 60% of adults have at least one chronic condition, with 40% managing two or more. This translates to a potential user base of over 100 million adults for linked drug delivery devices. The adoption rate of these devices in North America has seen a steady increase, from 12% in 2018 to an estimated 28% in 2023 among patients with chronic conditions.
Recent local news sources reveal Eli Lilly and Welldoc working on a new BlueStar app including linked device integrated insulin dosage data, hence improving diabetes treatment. This collaboration targets the approximately 34.2 million Americans (10.5% of the population) living with diabetes. Early trials of the BlueStar app have shown promising results, with users experiencing a 1.7% to 2.0% reduction in HbA1c levels over a six-month period, compared to a 0.7% to 1.0% reduction in non-users. Additionally, the app has demonstrated a 30% increase in medication adherence among its users.
Furthermore, the North American market has seen a 25% year-over-year increase in venture capital investments in digital health startups focused on linked drug delivery devices, totaling $2.3 billion in 2023. This influx of funding is expected to drive innovation and further market growth in the coming years.
With a combined market share of over 35% in the world in 2023, Medtronic plc and Ypsomed AG are retaining their market share thanks to their vast distribution networks and well-known brands. The market leader, Medtronic, revealed that revenues of its connected devices sector increased by 17% in 2023 to $3.2 billion.
By focusing on particular therapeutic domains and providing expert solutions, forward-thinking companies are setting themselves apart. Between 2020 and 2023, venture capital funding for startups in this industry totaled over $6.8 billion, with a record $2.1 billion raised in 2023 alone. The market is being taken over by these new competitors, whose combined market share is expected to increase from 12% in 2020 to 22% in 2023.
Medtronic plc
Ypsomed AG
Becton, Dickinson and Company
Novo Nordisk A/S
Insulet Corporation
Tandem Diabetes Care, Inc.
Eli Lilly and Company
Sanofi S.A.
West Pharmaceutical Services, Inc.
Phillips-Medisize (Molex)
Approved by FDA in 2023, Medtronic's InPen smart insulin pen gadget better uses real-time CGM data to regulate diabetes.
With its YpsoDose patch injector device with Bluetooth connectivity in 2022 Ypsomed AG, aiming at better patient monitoring and assistance
1. INTRODUCTION
1.1. Market Definitions & Study Assumptions
1.2. Market Research Scope & Segment
1.3. Research Methodology
2. EXECUTIVE SUMMARY
2.1. Market Overview & Insights
2.2. Segment Outlook
2.3. Region Outlook
3. COMPETITIVE INTELLIGENCE
3.1. Companies Financial Position
3.2. Company Benchmarking – Key Players
3.3. Market Share Analysis – Key Companies
3.4. Recent Companies Key Activities
3.5. Pricing Analysis
3.6. SWOT Analysis
4. Company Profiles (Key Companies list by Country)
5. COMPANY PROFILES
5.1. Medtronic plc
5.2. Ypsomed AG
5.3. Becton, Dickinson and Company
5.4. Novo Nordisk A/S
5.5. Insulet Corporation
5.6. Tandem Diabetes Care, Inc.
5.7. Eli Lilly and Company
5.8. Sanofi S.A.
5.9. West Pharmaceutical Services, Inc.
5.10. Phillips-Medisize (Molex)
5.11. Gerresheimer AG
5.12. Nemera (*LIST NOT EXHAUSTIVE)
6. MARKET DYNAMICS
6.1. Market Trends
6.1.1. Integration of IoT and AI in drug delivery devices
6.1.2. Increasing focus on patient-centric drug delivery solutions
6.1.3. Rise of digital therapeutics and companion apps
6.2. Market Drivers
6.2.1. Growing prevalence of chronic diseases
6.2.2. Increasing demand for self-administration devices
6.2.3. Advancements in connectivity technologies
6.3. Market Restraints
6.3.1. Data security and privacy concerns
6.3.2. High cost of connected drug delivery devices
6.4. Porter's Five Forces Analysis
6.4.1. Threat of New Entrants
6.4.2. Bargaining Power of Buyers/Consumers
6.4.3. Bargaining Power of Suppliers
6.4.4. Threat of Substitute Products
6.4.5. Intensity of Competitive Rivalry
6.5. Supply Chain Analysis
6.6. Value Chain Analysis
6.7. Trade Analysis
6.8. Pricing Analysis
6.9. Regulatory Analysis
6.10. Patent Analysis
6.11. SWOT Analysis
6.12. PESTLE Analysis
6.13. Market Opportunities
7. BY PRODUCT TYPE (MARKET VALUE (US$ MILLION) – 2022-2031*)
7.1. Connected Inhalers
7.1.1. Dry Powder Inhalers
7.1.2. Metered Dose Inhalers
7.2. Connected Injection Devices
7.2.1. Connected Pen Injectors
7.2.2. Connected Autoinjectors
7.3. Connected Wearable Injectors
7.4. Other Connected Drug Delivery Devices
8. BY TECHNOLOGY
8.1. Bluetooth
8.1.1. Bluetooth Low Energy (BLE)
8.1.2. Classic Bluetooth
8.2. NFC (Near Field Communication)
8.3. Other Connectivity Technologies
9. BY INDICATION
9.1. Diabetes
9.1.1. Type 1 Diabetes
9.1.2. Type 2 Diabetes
9.2. Asthma and COPD
9.3. Multiple Sclerosis
9.4. Cardiovascular Diseases
9.5. Other Indications
10. BY END-USER
10.1. Hospitals
10.2. Home Care Settings
10.3. Specialty Clinics
10.4. Other End-Users
11. REGION
11.1. North America
11.1.1. United States
11.1.2. Canada
11.1.3. Mexico
11.2. South America
11.2.1. Brazil
11.2.2. Argentina
11.2.3. Rest of South America
11.3. Europe
11.3.1. Germany
11.3.2. United Kingdom
11.3.3. France
11.3.4. Italy
11.3.5. Spain
11.3.6. Russia
11.3.7. Rest of Europe
11.4. Asia-Pacific
11.4.1. China
11.4.2. Japan
11.4.3. India
11.4.4. Australia
11.4.5. South Korea
11.4.6. Rest of Asia-Pacific
11.5. Middle-East
11.5.1. UAE
11.5.2. Saudi Arabia
11.5.3. Turkey
11.5.4. Rest of Middle East
11.6. Africa
11.6.1. South Africa
11.6.2. Egypt
11.6.3. Rest of Africa
BY PRODUCT TYPE:
Connected Inhalers
Connected Injection Devices
Connected Wearable Injectors
Other Connected Drug Delivery Devices
BY TECHNOLOGY:
Bluetooth
NFC (Near Field Communication)
Other Connectivity Technologies
BY INDICATION:
Diabetes
Asthma and COPD
Multiple Sclerosis
Cardiovascular Diseases
Other Indications
BY END USER:
Hospitals
Home Care Settings
Specialty Clinics
Other End-Users
BY REGION:
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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