The global market size is projected to reach USD 4,062.7 million by 2026, exhibiting a CAGR of 35.4% during the forecast period. However, the market size was USD 361.1 million in 2018. This information is published in a recent report by Fortune Business Insights, titled, “Connected Drug Delivery Devices Market Size, Share & Industry Analysis, By Type (Injectable Devices and Inhalation Devices & Others) By Technology (Bluetooth, NFC, and Others) By End User (Homecare Settings and Hospitals) and Regional Forecast, 2019-2026.” As per the report, a rising incidence of diabetes, COPD, and asthma are anticipated to boost the connected drug delivery devices market growth in the coming years.
For more information in the analysis of this report, visit:https://www.fortunebusinessinsights.com/industry-reports/connected-drug-delivery-devices-market-100380
Highlights of the Report
- Elaborate information regarding the market trends, growth drivers, obstacles, opportunities, and challenges.
- Competitive landscape, namely, mergers & acquisitions, new product launches, agreements, etc.
- Regional analysis consisting of North America, Europe, Asia pacific, and Rest of the World.
some of the key players:
- Proteus Digital Health
- Cohero Health, Inc.
- Hoffmann-La Roche Ltd.
- West Pharmaceutical Services
- Ypsomed Holding
- Propeller Health (A ResMed Company)
Rising Emphasis on Preventive Care of Chronic Diseases to Propel Growth
A rising incidence of chronic diseases across the world is creating more opportunities for the connected drug delivery devices market growth. In 2016, the Global Burden of Disease Study mentioned that the prevalence of COPD went up by approximately 14.7 percent between the period of 1990 to 2015. Besides, connected drug delivery devices possess various novel benefits. So, people are rapidly inclining towards them by replacing the manual devices.
Moreover, an increasing focus on preventive care of chronic disorders is likely to contribute to the market growth in the coming years. The Lancet Respiratory Medicine, for instance, had published a study in 2015 that highlighted that in New Zealand, the adoption of smart inhalers grew up to 84.0 percent amongst asthmatic children from 2014 to 2015.
Increasing Demand for Digital Medical Devices to Favor Growth in Europe
North America had generated USD 253.0 million market revenue in 2018. The region is anticipated to lead the market throughout the forthcoming years. Strategic collaborations, existence of major players, increasing healthcare expenditure, and well-established infrastructure are some of the most significant drivers of the market in this region. Europe is experiencing a rising demand for digital medical devices as well as a higher adoption of connected drug delivery devices on account of an urgent requirement to improve the patient experience.
Asia Pacific is showcasing a rise in the number of awareness programs regarding the cost benefits of connected drug delivery devices. It is also exhibiting an increasing adoption of innovative medical technology. These factors are set to create high growth opportunities.
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