Connected Drug Delivery Devices Market Analysis

Connected Drug Delivery Devices Market Analysis

In terms of device, the connected drug delivery devices market size from the connected sensors segment is projected to reach over USD 1.5 billion by 2032. The connected sensor segment is further classified into connected inhalation sensors and connected injectable sensors. The connected inhalation sensors technology helps a medical professional in measuring the resistance of the airways, the dosage, the depth, and the duration of drug inhalation, among other things.

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Connected drug delivery devices market from respiratory segment is estimated to reach a valuation of over USD 1.5 billion by the end of 2032 propelled by the mounting prevalence of respiratory diseases viz., asthma, COPD, lung cancer, coronavirus, and others. As these diseases require long-term treatment, connected drug delivery devices are considered effective in keeping track of drug doses. To cite an instance, the American Cancer Society foresees about 238,340 new cases of lung cancer in the U.S. in 2023.

Bluetooth segment accounted for more than 48% of the connected drug delivery devices market revenue owing to its wide range of 10-100m and ready availability on all smartphones. The smartphone app connects Bluetooth-enabled drug delivery devices and aids in maintaining complete medication history and notifies the user with reminders. Moreover, experts suggests that the new Bluetooth Low Energy standard has increased its prevalence in IoMT devices, which is further boosting its utilization in the healthcare industry.
 

Connected drug delivery devices market from the hospital segment was worth USD 99.5 million in 2022. The hospital segment is anticipated to depict remarkable growth in the analysis period as a result of increased uptake of advanced medical devices in hospital settings. Additionally, an upsurge in chronic diseases across the globe has uplifted the need for automated linked medical devices as they reduce hospitals’ workload and issues related to manual administration for patients. As per CDC, approximately 59.5% of adults with at least one chronic condition visit ED in hospitals.
 

North America connected drug delivery devices market held over 44% industry share in 2022 on account of the high healthcare spending and the rapid adoption of new technologies in healthcare facilities. Besides, the strong presence of prominent industry participant is fostering the availability of cutting-edge medical devices in the region.