Global Connected Injectable Drug Delivery Devices Market
Global connected injectable drug delivery devices market provides a detailed outlook on connected injectable drug delivery devices across the globe with special emphasize on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa. The report on global connected injectable drug delivery devices market gives historical, current and future market size (US$ Mn) on the basis of product, technology, end user, and geography. This study analyses the global connected injectable drug delivery devices market dynamics in a detailed manner to identify current trends and drivers, growth opportunities and potential challenges to the key stakeholders in the operating market. In addition, PBI has analyzed the global market to better equip customers with possible investment opportunities across region and consumer unmet needs. Key stakeholders of the global assisted reproductive technology include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global assisted reproductive technology market.
Global Connected Injectable Drug Delivery Devices Market:
Global market stood at US$ 397.2 million in 2019 and are projected to reach US$ 4,468.9 million by 2026, exhibiting a CAGR of 35.4% during the forecast period. The prevalence of chronic diseases is likely to affect the growth of the market size of the connected drug delivery devices. Continuous product innovation, multiple products in pipeline and mergers, and joint initiatives are some factors that help increase market share across the map for connected drug delivery devices. At the same time, problems arising from excessive use of nasal sprays could limit the growth of the market for connected injectable drug delivery devices. In addition, local side effects risk, and decreased bioavailability are also factors that hamper market development.
Increasing patient population and rising unmet medical needs increase the growth of market:
Growing population of patients and rising unmet medical needs, increasing demand for healthcare services, result in increased cost pressure on global healthcare systems. This is expected to boost the global demand for connected injectable drug delivery devices in the coming years. For example, rheumatoid arthritis (RA) affected more than 1.5 million people in the U.S. in 2017, according to the American Arthritis Association. Similarly, a rise in the incidence of diabetes is projected to drive the global demand for connected injectable drug delivery devices in the immediate future.
North America to hold a major share of Global Market:
Owing to technological developments in the pharmaceutical industry and a high rate of product adoption in the region, North America dominates the global market for injectable drug delivery devices. Asia Pacific is expected to be the most lucrative market for connected injectable drug delivery devices in the near future, owing to ongoing medical infrastructure growth, increased adoption of technologically advanced surgical procedures and increased government initiatives in the region.
Key player’s profiles in the global connected injectable drug delivery device market include-
- Ypsomed Holdings
- Unolife Corporation
- Quio Technologies
- Phillips-Medisize Corporation
- SHL Group
- Haselmeier Inc.
- West Pharmaceutical Services Inc.
- In October 2019, Phillips-Medisize- a Molex Company, announced the projected launch of its first electronic-enabled drug delivery devices. According to the announcement, the company is expected to launch its product in the second half of 2020.
- In January 2019, FindAir, a European company launched their smart inhaler, FindAir ONE in the Europe market. The device is intended to offer treatment for patients suffering from COPD and Asthma.
Key findings of report:
- Global connected injectable drug delivery devices market expanding at significant CAGR over 2020 to 2026 owing the prevalence of chronic diseases is likely to increase the growth of the market size of the connected drug delivery devices.
- North America accounted for larger share of market revenue based on the region and projected a gain in market revenue over a forecast period.
- Players focusing on innovation of technologies and collaboration strategies to retain market position in global market.
Key features of the report:
- The report provides granular level information about market size, regional market share, historic market (2015-2019) and forecast (2020-2026).
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market.
- The report provides plethora of information about market entry strategies.
- Connected Sensors
- Inhaler Sensors
- Injection Sensors
- Integrated Connected Devices
- Integrated Inhaler
- Integrated Injection
- Healthcare providers
- Homecare Centers
- Rest of Europe
- Australia & New Zealand
- Rest of APAC
- Rest of LATAM
- South Africa
- GCC Countries
- Rest of MEA