The Global Connected Drug Delivery Devices Market was valued at $0.349 Billion in 2020. Growing at a high CAGR of more than 30.1% between 2021 and 2031, it is estimated to reach $7.8 Billion by 2031. However, the current pandemic of COVID-19 might make a slight difference in the growth rate in the present year. Connected drug delivery devices are the technological innovation that has bridged the unsought gap between digital technology and healthcare. The increasing prevalence of some chronic diseases, such as cancer, CVD, depression, etc., the growing adoption rates of engagement, IoT, and patient connectivity, increasing investments made for innovation in the healthcare sector, and raising awareness among patients about connected drug delivery devices are driving the market growth. Apart from that, an increasing geriatric population base is expected to drive the market. Now, moving forward, the robust demand for the Global Connected Drug Delivery Devices Market in the healthcare department is further estimated to create new necessities and augment the market of growth over the forecast period of 2021-2031.
Global Connected Drug Delivery Devices Segment Is Estimated to Witness Remarkable Growth
Source: SAI Research
The Connected Drug Delivery Devices market is segmented as product, end-use, and technology. Based on product, the global connected drug delivery devices market has been bifurcated as Connected Drug Delivery Devices, Connected Sensors, Connected Inhaler Sensors, Connectable Injection Sensors, Integrated Connected Devices, Connected Inhaler Devices, and Connected Injection Devices. Based on end-use, the globally connected drug delivery devices market is divided into Healthcare Providers and Homecare. Based on technology, the globally connected drug delivery devices market has been segmented as Bluetooth, NFC, and Other Technologies.
By Region, North America is Holding the Major Market Share
The Connected Drug Delivery Devices Market has been geographically segmented into North America, Asia Pacific, Latin America, Middle East, and Africa region. In addition to this, North America has a significant share among those regions. The regional market comprises developing nations whose development rate is faster than most of the developing countries in the world. The availability of advanced technology, experienced and skilled employees, and increasing demand for connected drug delivery devices for different healthcare centers are the prime factors for the market growth over the region. Apart from that, the Asia Pacific and Europe are expected to increase the growth rate in the upcoming forecast period of 2021 to 2031.
Major Players in the Global Connected Drug Delivery Devices Market
The report covers a detailed outlook about the company, and it includes the company or industry profiles and market share of key players operating in the global market. Key players in the report include Propeller Health, Proteus Digital Health, BioCorp, Merck KGaA, Adherium Limited, Phillips-Medisize, West Pharma, Aterica Inc., Panasonic Corporation, Qualcomm Technologies, Inc., CeQur, Care TRx, Cohero Health, Sagentia, and OPKO Health among others.
The Global Connected Drug Delivery Devices Market Has Been Segmented into:
Global Connected Drug Delivery Devices Market: By Product
Global Connected Drug Delivery Devices Market: By End-Use
Global Connected Drug Delivery Devices Market: By Technology
Global Connected Drug Delivery Devices Market: By Region