The global “connected drug delivery devices market size” is projected to reach USD 4,062.7 million by 2026, exhibiting a CAGR of 35.4% during the forecast period. However, the market size was USD 361.1 million in 2018. This information is published in a recent report by Fortune Business Insights, titled, “Connected Drug Delivery Devices Market Size, Share & Industry Analysis, By Type (Injectable Devices and Inhalation Devices & Others) By Technology (Bluetooth, NFC, and Others) By End User (Homecare Settings and Hospitals) and Regional Forecast, 2019-2026.” As per the report, a rising incidence of diabetes, COPD, and asthma are anticipated to boost the connected drug delivery devices market growth in the coming years.
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Key Players Operating in The Connected Drug Delivery Devices Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Proteus Digital Health
- Cohero Health, Inc.
- Hoffmann-La Roche Ltd.
- West Pharmaceutical Services
- Ypsomed Holding
- Propeller Health (A ResMed Company)
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Highlights of the Report:
- In-depth analysis of various insights, namely, Connected Drug Delivery Devices Market trends, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies, and Connected Drug Delivery Devices Market share.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.
Increasing Demand for Digital Medical Devices to Favor Growth in Europe
North America had generated USD 253.0 million connected drug delivery devices market revenue in 2018. The region is anticipated to lead the market throughout the forthcoming years. Strategic collaborations, existence of major players, increasing healthcare expenditure, and well-established infrastructure are some of the most significant drivers of the market in this region. Europe is experiencing a rising demand for digital medical devices as well as a higher adoption of connected drug delivery devices on account of an urgent requirement to improve the patient experience.
Asia Pacific is showcasing a rise in the number of awareness programs regarding the cost benefits of connected drug delivery devices. It is also exhibiting an increasing adoption of innovative medical technology. These factors are set to create high growth opportunities.
Rising Emphasis on Preventive Care of Chronic Diseases to Propel Growth
A rising incidence of chronic diseases across the world is creating more opportunities for the connected drug delivery devices market growth. In 2016, the Global Burden of Disease Study mentioned that the prevalence of COPD went up by approximately 14.7 percent between the period of 1990 to 2015. Besides, connected drug delivery devices possess various novel benefits. So, people are rapidly inclining towards them by replacing the manual devices.
Moreover, an increasing focus on preventive care of chronic disorders is likely to contribute to the market growth in the coming years. The Lancet Respiratory Medicine, for instance, had published a study in 2015 that highlighted that in New Zealand, the adoption of smart inhalers grew up to 84.0 percent amongst asthmatic children from 2014 to 2015.
Detailed Table of Content:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
- Executive Summary
- Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
- Key Insights
4.1. Technological advancements in Connected Drug Delivery Devices Market
4.2. Recent Industry Developments- Partnerships, Mergers, And Acquisitions
4.3. New Product Launches by Key Players
4.4. Regulatory Scenarios
4.5. Trends of Usage of Connected Drug Delivery Devices
- Global Connected Drug Delivery Devices Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Type
5.2.1. Injectable Devices
5.2.2. Inhalation Devices and Others
5.3. Market Analysis, Insights and Forecast – By Technology
5.3.2. NFC (Near Field Communication)
5.4. Market Analysis, Insights and Forecast – By End User
5.4.1. Homecare Settings
5.5. Market Analysis, Insights and Forecast – By Region
5.5.1. North America
5.5.3. Asia pacific
5.5.4. Rest of the World
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- Customer research services
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- Value chain analysis
- Potential Connected Drug Delivery Devices Market opportunities
- Growth dynamics
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- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the Connected Drug Delivery Devices Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
KEY QUESTIONS ANSWERED:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Connected Drug Delivery Devices Market growth?
- What are the key technological and market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?