As per this study the Global Connected Drug Delivery Devices Market was valued USD XX MN (by revenue) in 2021 and is anticipated to reach USD XX MN by 2027 with a CAGR of XX%.
Connected drug delivery devices are wireless and interconnected electronic devices that allow patient-administered therapy. Connected drug delivery devices are the ideal solution for cost-effective healthcare of consumers. Additionally, for further advancements, manufacturing companies are focusing on collaboration with the software companies to assess the cloud data system in the devices.
The rapid technological advancements and increasing expenditure in the healthcare industry is driving market growth. Additionally, the growing geriatric population base along with raising awareness regarding adverse effects of non-adherence to medication is again accelerating the market growth. On the other hand, high cost and technical complexities associated with the devices may hamper the market growth. Whereas, rising adoption of artificial intelligence and big data analytics in healthcare technology for real-time decision making is expected to offer a potential opportunity during the forecast period.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of connected drug delivery devices.
The broad connected drug delivery devices market has been sub-grouped into product types, technology, application and end-user. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Product Types
- Inhalation Devices
- Injectable Devices
- Handheld Injectable Devices
- Wearable Injectable Devices
- Near Field Communication
- Hormone Replacement
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for connected drug delivery devices in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Connected Drug Delivery Devices Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the connected drug delivery devices market include 3M Company, Bayer AG, Biocorp Production SA, Care TRx, CeQur SA, Cohero Health, OPKO Health, Propeller Health, Sagentia (Science Group) and West Pharmaceutical Services, Inc. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.