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Connected Drug Delivery Devices Market Size

Report ID: GMI4422
Published Date: Mar 2023
Report Format: PDF

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Connected Drug Delivery Devices Market Size

Connected Drug Delivery Devices Market size surpassed USD 345 million in revenue in 2022 and is speculated to grow at more than 28% CAGR between 2023 and 2032 accredited to rising awareness among people regarding dosage adherence.

Connected Drug Delivery Devices Market Overview

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The industry demand is primarily fueled by growing patient awareness regarding adherence to prescribed therapies. The emerging trends of self-administered therapy and prescribed medication adherence with modern technology have brought connectivity and accuracy to medication administration. Additionally, increasing remote patient monitoring, significant R&D in medical drug delivery devices, and widespread consumer adoption are elevating product uptake

Connected Drug Delivery Devices Market Report Attributes
Report Attribute	Details
Base Year:	2022
Connected Drug Delivery Devices Market Size in 2022:	USD 347.9 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	28.1%
2032 Value Projection:	USD 3.8 Billion
Historical Data for:	2018 to 2022
No. of Pages:	210
Tables, Charts & Figures:	467
Segments covered:	Device, Technology, Application, End-use and Region
Growth Drivers:	Rising patient awareness about adherence to prescribed therapies Rapidly moving healthcare IT infrastructure Soaring adoption of machine learning, and artificial intelligence (AI) Rising implementation of telehealth platform integrated with AR/VR technologies
Pitfalls & Challenges:	Security concerns regarding patient data High price of the device

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Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Global market for exceeded a valuation of USD 345 billion in 2022 and is projected to grow at more than 28% CAGR over 2023-2032 propelled by rising awareness amongst people regarding dosage adherence.

Bluetooth segment accounted for more than 48% of the market revenue in 2022 as a result of its wide range of 10-100m and ready availability on all smartphones.

Hospital end-use segment was worth USD 99.5 million in revenue in 2022 and is foreseen to progress at a notable pace from 2023 to 2032 owing to an upsurge in chronic diseases across the globe.

North America connected drug delivery devices market held over 44% industry share in 2022 and is set to grow sizably through 2032 attributed to the high healthcare spending and the rapid adoption of new technologies in healthcare facilities in the region.

North America market had held around 45% share in 2020 owing to increasing healthcare expenditure and adoption of innovative technologies in the region.