According to a new market research report published by sheer analytics and insights, “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, as per the latest market research report titled Global Connected Drug Delivery Devices Market - Industry analysis, size, share, growth, trends, and forecast, 2021-2031.
Connected drug delivery devices are the technological innovation that has bridged the unsought gap between digital technology and healthcare. The emergence of these ‘healthcare technology’ devices has been highly recommended for better diagnostics and targeted therapeutic tools. Apart from that, the device has outpaced conventional endoscopy with more convenient capsule endoscopy technology. Increasing awareness about the different harmful effects of non-adherence to healthcare professionals' prescribed medicines is the primary factor for market growth. 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.
However, in this current pandemic of COVID-19, the Connected Drug Delivery Devices market is affected much. It changes the growth rate graph slightly in the connected drug delivery devices market. The investment and requirement of the drug-device are increasing rapidly after the outbreak of this current pandemic. Apart from that, the connected drug delivery devices sector's rising across the world is anticipated to offer a massive opportunity for market growth in the next forecast period of 2021 to 2031.
Geographically, The Connected Drug Delivery Devices Market is divided into global regions like North America, Europe, Asia- Pacific, Latin America, Middle East, and Africa.
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