According to a report “Connected Drug Delivery Devices Market Analysis Report By Technology (Bluetooth, NFC), By Product (Connected Sensors, Integrated Connected Devices), By End User, And Segment Forecasts, 2018 – 2025”, published by Grand View Research, Inc. The global connected drug delivery devices market size is expected to reach USD 717.7 million by 2025, according to a new report by Grand View Research, Inc. The market is projected to expand at a strong CAGR of 25.1% during the forecast period. Factors contributing to the growth of this market include rise in awareness regarding adverse effects of non-adherence to medication and increased adoption of IoT, patient connectivity, and engagement. Based on the product type, connected drug delivery systems are categorized as sensors and integrated devices.
Key Takeaways from the report:
- The connected sensors segment led the market in terms of revenue share in 2017. Cost-effectiveness and easy availability of these sensors were the major factors behind the segment growth
- The Bluetooth technology was the largest technology segment in 2017 and accounted for 70.5% of the global market share
- The homecare segment is anticipated to witness the fastest CAGR of 26.9% owing to increasing shifting preference for homecare settings or Point of Contact (PoC)
- North America led the market in 2017 owing to the presence of a large number of early adopters and high per capita healthcare expenditure
- Some of the key companies in the global connected drug delivery devices market are Propeller Health, Proteus Digital Health, Adherium Ltd., BIOCORP, and Merck KGaA.
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The sensors segment accounted for the largest market share of 72.6% in 2017. The connected sensors are cost-effective as compared to their integrated counterparts. Moreover, the cost of switching from a conventional systems to add-on sensors is low. The integrated systems are anticipated to witness the fastest CAGR over the forecast period owing to reduced prices of these devices. These devices also provide more detailed insights regarding the dosage and patient’s compliance and health records, which is expected to drive their demand further.
North America held the largest revenue share at 34.4% and will continue to retain its leading position over the forecast period. Quick adoption of advanced devices and technologies and high per capita healthcare expenditure are expected to boost the demand for connected drug delivery systems in the region. Some of the key companies in the global connected drug delivery device market include Propeller Health; Proteus Digital Health, Inc.; Adherium Limited; BIOCORP; and Merck KGaA.
Grand View Research has segmented the global connected drug delivery devices market on the basis of product, technology, end-user, and region:
Connected Drug Delivery Devices Product Outlook (Revenue, USD Million, 2014 – 2025)
- Connected Sensors
- Inhaler Sensors
- Injection Sensors
- Integrated Connected Devices
- Integrated Inhalation Devices
- Integrated Injection Devices
Connected Drug Delivery Devices End-user Outlook (Revenue, USD Million, 2014 – 2025)
- Healthcare Providers
- Homecare Centers
Connected Drug Delivery Devices Technology Outlook (Revenue, USD Million, 2014 – 2025)
- Other Technologies (Cellular, Low Power Wide Area Network)
Connected Drug Delivery Devices Regional Outlook (Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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