Connected Drug Delivery Devices Market to Reach US$ 1 Billion by 2027 Globally |CAGR: 25.7%| UnivDatos Market Insights

NOIDA, India, June 2, 2021 /PRNewswire/ -- A comprehensive overview of the Connected Drug Delivery Devices market is recently added by UnivDatos Market Insights to its humongous database. The Connected Drug Delivery Devices market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Connected Drug Delivery Devices market. The Connected Drug Delivery Devices market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Connected Drug Delivery Devices market at the global and regional levels. The Global Connected Drug Delivery Devices Market was valued at 219 million in 2020 and is expected to grow at a CAGR of 25.7% by 2027.

Market Overview

The Global Connected Drug Delivery Devices Market is booming due to increasing penetration of the Internet of Things (IoT) in the healthcare devices, increasing focus on patient compliance, quality of healthcare, rising awareness of costs, increasing use of self-administered drugs, rising healthcare programs, and initiatives to spread the connected drug delivery devices' awareness. For example, Propeller Health company has conducted around 60 connected medical programs to spread awareness of connected drug delivery devices. The company provides add-on devices for inhalers that are synchronized with the patient's software for the analysis of symptoms and diseases.

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COVID-19 Impact

Due to COVID-19, each industry across the world is affected and its long-term effects are going to influence the growth of the industry in the upcoming period. During the Covid-19 pandemic, the market is experiencing significant growth on account of the increasing demand for drug delivery solutions to be used at home.  Furthermore, the market is expected to observe enormous growth because of the increase in focus on improving patient compliance and quality of care, raising the awareness of associated costs, and increasing the use of self-administered therapy. 

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Global Connected Drug Delivery Devices Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Product, the market is primarily bifurcated into

Connected Sensors

• Connected Inhaler Sensors
• Connectable Injection Sensors

Integrated Connected Devices

• Connected Inhaler Devices
• Connected Injection Devices

Based on Product, the Connected sensors segment dominated the global Connected Drug Delivery Devices market and is expected to grow at a noteworthy CAGR of XX% to reach a market value of US$ XX billion by the year 2027.

By Technology, the market is primarily segmented into

• Bluetooth
• Near-field communication (NFC)
• Other Technologies

Amongst Technology, Bluetooth accounted for the largest share in 2020 and is expected to grow at a significant CAGR of XX% during the forecast period 2021-2027.

By End-User, the market is primarily segmented into

• Healthcare Providers
• Homecare
• Hospitals
• Other end-users

Amongst End-users, Homecare accounted for the largest share in 2020 and is expected to grow at a significant CAGR of XX% during the forecast period 2021-2027.

Connected Drug Delivery Devices Market Geographical Segmentation Includes:

• North America (United States, Canada, Rest of North America)
• Europe (Germany, United Kingdom, Italy, France, Spain, and Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific)
• Rest of the World

North America is dominating the Connected Drug Delivery Devices market in 2020 and is anticipated to maintain its dominance during the forecast period.

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The major players targeting the market includes

• Propeller Health (Reciprocal Labs Corporation)
• Proteus Digital Health
• BIOCORP
• Merck KGaA
• Adherium Limited
• West Pharmaceutical Services, Inc.
• Aterica Digital Health
• Phillips Medisize
• FindAir
• Teva Pharmaceutical Industries Ltd

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Connected Drug Delivery Devices market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the Connected Drug Delivery Devices market?
• Which factors are influencing the Connected Drug Delivery Devices market over the forecast period?
• What are the global challenges, threats, and risks in the Connected Drug Delivery Devices market?
• Which factors are propelling and restraining the Connected Drug Delivery Devices market?
• What are the demanding global regions of the Connected Drug Delivery Devices market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

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