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Connected Drug Delivery Devices Market to Witness Tremendous Growth, USD 2.1 Billion by 2030, Claims AMR

Connected drug delivery devices refer to medical devices that incorporate digital technologies to enhance drug administration and monitoring. These devices can be worn by patients or implanted into their bodies to deliver drugs in a more personalized and precise manner. The data collected from these devices can be transmitted to healthcare providers in real-time, allowing for more efficient and accurate monitoring of patient health. Connected drug delivery devices have the potential to improve patient outcomes, reduce healthcare costs, and enhance patient experience. However, there are also concerns around data privacy and cybersecurity that need to be addressed in the development and deployment of these devices.

The connected drug delivery devices market size was $290.30 million in 2021, and is estimated to reach $2.1 billion by 2030, growing at a CAGR of 24.3% from 2022 to 2030.

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One of the key challenges for widespread adoption in drug delivery applications remains the cost effective integration of simple to use electronic communications systems. This is because delivery devices are, mechanically simple and made at low cost in extremely high volumes. Furthermore, connecting these devices to an existing wireless network usually entails pairing procedures, passwords, apps, and/or subscriptions. These may draw attention away from the system’s dependability and usability for the patient.

Based on end-use, the hospitals segment was the largest in 2021, grabbing nearly three-fourths of the global connected drug delivery devices market share, and would dominate in terms of revenue during the forecast period. However, the homecare segment is expected to witness the fastest CAGR of 24.85% during the forecast period.

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Impact of COVID-19 on the Global Connected Drug Delivery Devices Industry

  • Due to the COVID-19 pandemic, the medical device manufacturers witnessed a slight decline in the sale of connected drug delivery devices. The drop in sales might be reported due to disruption in the global distribution and sales channel.
  • During the pandemic, restrictions were imposed on the people which declined the rate of diagnosis and screening of diseases. Also, R&D conducted by the pharmaceutical industry hampered the growth of the market.
  • However, due to the COVID-19 outbreak, the need for user-friendly and safe homecare solutions became crucial. The requirement for online connectivity devices allows a healthcare professional to monitor a patient’s medication remotely. As a result of these factors, the negative impact of the COVID-19 pandemic was mitigated, and the market continued to grow steadily.

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Key Players-

  • Adherium
  • BD
  • Proteus Digital Health
  • Propeller Health
  • Hoffmann-La Roche Ltd
  • Ypsomed AG
  • Cohero Health, Inc.
  • West Pharmaceutical Services, Inc.
  • Syncro Technology Corp.
  • AptarGroup Inc.

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Editor Details

  • Company:
    • The Wire Times
Last Updated: 28-Apr-2023