Global Connected Drug Delivery Devices Market Expected to Surpass $1,119.3 Million and Grow with a Significant CAGR of 24.6% from 2020 to 2027 – Exclusive Report [180 Pages] By Research Dive

The global connected drug delivery devices market is predicted to observe notable growth in the upcoming years. Growing cases of chronic ailments is driving the growth of the market. The injectable devices sub-segment, Bluetooth sub-segment and hospital sub-segment are estimated to dominate the market. The Asia Pacific region is estimated to lead the market.

New York, USA, June 09, 2021 (GLOBE NEWSWIRE) -- A latest report on the global connected drug delivery devices market has been added by Research Dive to its offerings. As per the report, the market is estimated to garner $1,119.3 million and rise with a remarkable CAGR of 24.6% from 2020 to 2027. The report offers an all-inclusive lookout of the present scenario and future scope of the global industry. The report is drafted by expert market analysts and guarantees to be a trustworthy source of data and all-inclusive market insights for new entrants, investors, existing market players, stakeholders, shareholders, etc.

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COVID-19 Impact on the Market Growth:

The rise of the COVID-19 pandemic in 2020 made an optimistic impact on the growth of the market. During the pandemic, several companies involved in the connected drug delivery devices market are stepping up and taking strategic moves to provide their products and services to people. Moreover, market players are also coming up with innovative product launches, which is expected to create profitable opportunities for the market. All these factors are boosting the market growth in the pandemic period.

Factors Impacting the Market Growth:

A considerable surge in the demand for connected drug delivery technologies is observed in the recent years, chiefly owing to the rising cases of chronic ailments like asthma, diabetes, and COPD. This is boosting the growth of the global connected drug delivery devices market. In addition, growing implementation of pioneering technologies in connected drug delivery devices is estimated to unlock lucrative opportunities for the market growth during the forecast period. However, high prices of connected drug delivery devices, dearth of awareness among patient about the advanced devices, and low product penetration in the middle as well as low-income nations are expected to hinder the market growth.

The report segments the global connected drug delivery devices market into type, technology, end users, and region.

Injectable Devices Sub-Segment to Hold Leading Market Share

Among the type segment, the injectable devices sub-segment is expected to grab maximum market share by collecting a revenue of $652.2 million during the forecast period. The growth of this sub-segment is mainly because off the growing adoption of electronic technologies in the healthcare devices.

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Bluetooth Sub-Segment to Lead the Market Growth

Among the technology segment, the Bluetooth sub-segment is expected to observe significant growth and garner $733.0 million during the forecast period. The growth of this sub-segment is mainly because Bluetooth equipped drug delivery devices are highly preferred in the delivery of medicines mostly owing to their easy and low-cost connectivity to smartphones.

Hospital Sub-Segment to Witness Speedy Growth

Among the end user segment, the hospital sub-segment is expected to hold a leading market share by surpassing $805.8 million during the forecast period. The growth of this sub-segment is mainly because of the increasing adoption of electronic and connectivity technologies in hospitals.

Asia-Pacific Region to Lead the Market

The report analyzes the global connected drug delivery devices market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the Asia Pacific region market is expected to grow rapidly and garner $190.3 million during the estimated period. The growth of this region market is mainly due to the increasing occurrence of chronic ailments, technical developments, and launch of innovative connected drug delivery products in this region.

Major Players in the Market:

The report lists some of the leading players functioning in the global connected drug delivery devices industry including -

  1. Propeller Health
  2. Adherium
  3. BD
  4. Proteus Digital Health
  5. F. Hoffmann-La Roche Ltd
  6. Cohero Health, Inc.
  7. AptarGroup Inc.
  8. West Pharmaceutical Services
  9. Ypsomed AG
  10. Syncro Technology Corp.

The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. For instance, in February 2019, Covestro LLC., one of the foremost manufacturers of high-performance polymers in North America, launched a new connected drug delivery concept that is likely to provide patients medical reliability, accuracy, and comfort. The concept uses Makrolon® polycarbonate and Direct Skinning/Direct Coating technology.

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