The market for connected medication delivery devices market was estimated to be worth USD 5.1 billion globally in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 23.4% over the course of the forecast period. The market for linked drug delivery systems is driven by rising health and hygiene consciousness. One of the main causes is the rising incidence of diabetes, COPD, and asthma. Real-time data transfer between devices and healthcare professionals is made possible by the integration of technologies such as Bluetooth and Near Field Communication.

The market is expanding as a result of rising healthcare costs and rising demand for early diagnosis and treatment. Growing knowledge of chronic illnesses and how to treat them is the main driver of the market's expansion. This market has been significantly impacted by the pandemic.

 

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Growth Drivers

Global demand for remote healthcare has surged due to the necessity of ongoing patient monitoring. By supplying real-time data, connected medicine delivery systems quickly speed up services and enable prompt interventions from medical professionals. Increasing demand for individualized healthcare solutions is propelling the expansion in the market substantially. This is made possible by connected gadgets, which gather information that aids in therapy customization.

The market is expanding as a result of rising demand for injectable devices to improve the treatment of chronic illnesses. Furthermore, it is anticipated that the introduction of smart injectable devices by numerous pharmaceutical companies would present the injectable devices market with substantial growth prospects over the course of the forecast year. Digital health solutions are being promoted by the government's increased investment in healthcare infrastructure.

Segmentation

Product Type Outlook

·         Standalone Components & Software integrated Devices

·         Others

Route of Administration Outlook

·         Parenteral

·         Inhalational

Application Outlook

·         Asthma

·         COPD

·         Diabetes Management

·         Others

 By Region

·         Asia-Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

Key Players

·         Teva Respiratory, LLC

·         Novo Nordisk A/S

·         Phillips-Medisize, LLC

·         Medtronic

·         Adherium Limited

·         Tandem Diabetes Care, Inc.

·         Biocorp

·         Propeller health

·         Ypsomed AG

·         Aptar Pharma

·         Other Players

 

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