Connected Drug Delivery Devices Market Size & Growth Report – Industry Share Analysis, Trends & Forecasts (2024 - 2029)

Market Size and Share Analysis:

By product, the connected sensors segment is expected to grow at a CAGR of 35.79% in the forecast period. In 2024, bluetooth within the technology segment is anticipated to dominate the market, accounting for 65.15% of the share. Market analysis indicates that this segment will grow to USD 3.43 billion by 2029. By application, diabetes management is expected to dominate the market in the coming years. By end user, home care is expected to lead the segment with a projected market share of 66.24% in 2024. Market size analysis suggests that this segment of the connected drug delivery devices industry will reach USD 3.37 billion by 2029. Due to the growing need for accuracy and efficiency in medication dispensing, the market is poised for growth.

Chronic conditions like COPD (Chronic Obstructive Pulmonary Disease) require continuous monitoring to manage symptoms effectively. Connected drug delivery devices, such as smart inhalers, enable remote monitoring of medication use and symptom tracking, which is crucial in managing COPD, thereby the global market is likely to be driven by the rise in COPD cases. Recent data released by the National Center for Health Statistics showed that 4.3% of adults in the United States were diagnosed with COPD, emphysema, or chronic bronchitis in 2023. Therefore, the high prevalence of these chronic diseases are expected to boost the studied market growth during the forecast period.

Furthermore, as market players concentrate on product launches and approvals, the increasing availability of advanced solutions is set to drive the industry’s growth. For instance, in April 2024, Adherium Limited, an Australia-based medtech company received FDA clearance for its Hailie Smartinhaler, a bluetooth-enabled sensor that clips onto an inhaler, transmitting usage data to the cloud. This advanced device monitors medication usage and ensures compliance with AstraZeneca’s Airsupra and Breztri inhalers. Hence, technological advancements are anticipated to propel market growth in the coming years.

Overview of Market Segments Covered:

In 2024, connected inhaler devices are expected to dominate the integrated connected devices segment, capturing a significant 61.77% market share. Market research indicates that this segment will grow to an estimated USD 1.99 billion by 2029. Digital self-management tools have the potential to enhance clinical outcomes and cut asthma attacks by half. For instance, as per the study published in Primary Care and Respiratory Medicine in May 2023, smart inhalers, through smartphone applications, provide diverse functionalities. These include sending reminders and motivational messages, offering real-time personalized feedback on usage and inhaler technique, and monitoring asthma symptoms. The article further highlighted that these add-on medical devices can assist healthcare professionals (HCPs) in offering guided self-management, empowering patients to adeptly handle their chronic diseases daily. Hence, the likely benefits of the connected inhaler devices in asthma management are likely to create growing demand for smart inhalers are add-on medical devices in the coming years. Moreover, the introduction of these devices highlights technological advancements, which are anticipated to drive growth in the segment. For instance, in July 2023, Teva Pharmaceuticals Industries Ltd introduced a digitally enabled inhaler in the United Kingdom, marking the device's debut in the European market. This inhaler is designed for patients suffering from asthma and chronic obstructive pulmonary disorder (COPD). Owing to above lisetd factors, the connected inhaler devices segment of the industry is expected to propel in the forecast period.

The connected drug delivery devices market is segmented by product, technology, application, and end user. By product, the market is segmented into connected sensors, and integrated connected devices. The connected sensors are further segmented into connected inhaler sensors and connectable injection sensors. The integrated connected devices are further segmented into connected inhaler devices and connected injection devices. By technology, the market is segmented into bluetooth, near-field communication (NFC), and other technologies. By application, the market is segmented into asthma, COPD, diabetes management, and other applications. By end user, the market is segmented into healthcare providers, and homecare. The demand for real-time monitoring and data sharing, enabling better management of chronic conditions through easy smartphone connectivity is likely to augment the growth of the Bluetooth segment under the technology category of the connected drug delivery devices industry.

Regional Market Scope of this Report:

In 2024, North America is expected to dominate the market, capturing a significant 44.65% of global connected drug delivery devices market share. Projections indicate that this North America market value will grow to an estimated USD 2.33 billion by 2029, witnessing significant growth. North America's growing adoption of telehealth, mHealth services, and digital healthcare applications is set to drive market growth. For instance, in March 2022, Respira Labs, a respiratory healthcare tech business based in the United States, released Sylvee, an AI-powered wearable lung monitor that employs acoustic resonance to assess lung function and identify variations in lung air volume. It can aid in the early detection and treatment of COPD, and asthma. Further, as per the 2022 Canadian Interoperability Landscape: A Survey of Clinicians, over 4 in 5 (82%) report using electronic system(s) to document patient information, with most using electronic systems only (82%) vs. a hybrid system of electronic and paper documentation (10%) or paper records only (7%). Consequently, the rising adoption of electronic systems delivering medication alerts and follow-up instructions and other advanced technologies is projected to drive North America market growth during the forecast period.

By geography, the global market is segmented into North America (United States, Canada, Mexico), Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific), Middle East and Africa (GCC, South Africa, Rest of Middle East and Africa), and South America (Brazil, Argentina, Rest of South America). Asia Pacific, with its expanding digital infrastructure, increasing healthcare access, and rising prevalence of chronic diseases, presents substantial growth opportunities for the connected drug delivery devices industry. Furthermore, supportive government initiatives promoting health tech adoption bolster this potential. While emerging regions like Asia Pacific and middle east show promise, developed regions are projected to maintain a significant connected drug delivery devices market growth in the coming years. Additionally, the studied market in East Africa is being propelled by the rising adoption of mobile health solutions, enhanced management of chronic diseases, and advancements in healthcare infrastructure.

Competitive Landscape and Ecosystem Analysis:

Some of the key players in the connected drug delivery devices market are ResMed (Propeller Health), Findair Sp. z o. o., BIO CORP, Teva Pharmaceuticals Industries Ltd, Adherium Limited, West Pharmaceutical Services Inc., Aptar Pharma, Ypsomed AG, Phillips-Medisize, among others. Key market players engage in strategic collaborations, acquisitions, and product approvals and launches to maintain their competitive edge. For instance, in October 2024, Insulcloud SL, a Spain-based technological healthcare solution company, received FDA clearance for its bluetooth-enabled medical device, Insulclock CAP. This device converts standard disposable insulin pens into advanced tools for managing diabetes. It offers both visual and audible alerts, enabling users to fine-tune their insulin therapy. The company asserts that its device guarantees the correct usage of insulin pens, thereby boosting safety and control. The connected drug delivery devices sector is fragmented in nature in the context of the competitive landscape.