Connected Drug Delivery Devices Market is anticipated to garner substantial gains through 2032 owing to the increasing adoption of technologies such as machine learning and artificial intelligence (AI) in healthcare and drug delivery. Besides, the rising importance of real-time data across the healthcare sector will propel the market expansion. In addition, numerous initiatives taken up by market players to incorporate advanced technology in devices will promote the business growth.
Beckton Dickinson (BD), for instance, inked a deal with Biocorp to leverage its near-field communication tags in injectable devices. The deal would see Biocorp’s Injay device incorporated in UltraSafePlus prefilled syringes, offering them increased digital connectivity that can be used to accumulate information such as injection time and date, batch number, and expiration date.
Overall, the connected drug delivery devices industry is segmented in terms of device, technology, application, end-use and region.
Based on devices, the integrated devices segment will showcase considerable growth during 2023-2032. The increasing prevalence of chronic diseases, rising awareness regarding health and illness, rising telecommunication industry, and surging government initiatives will propel the market expansion during the ensuing years.
Considering the technology, the Wi-Fi technology segment is anticipated to depict over 28.5% CAGR through 2032. Constant innovations have resulted in the increasing adoption of the latest technologies in medical devices. Besides, the rising consumer awareness regarding several connected drug delivery device technologies to track their daily medication will further drive the demand for WiFi embed connected drug delivery devices.
By application, the anaphylaxis segment accounted for more than USD 31 million in 2022. The segment will see huge growth owing to the increasing use of connected drug delivery devices in anaphylaxis patients for quick drug administration. Increasing cases of anaphylaxis would further benefit the overall market growth. European data depicted that the incidence rates for all-causes of anaphylaxis vary between 1.5 to 7.9 per 100,000 person per year.
In terms of end-use, the homecare settings segment held a considerable market share in 2022. Constant device development have made their use easy and convenient. Furthermore, an increasing preference for self-administered therapy at homecare will drive the industry growth.
Geographically, the Asia Pacific connected drug delivery devices market will grow throughout the forecast period. The constantly increasing pharmaceutical industry will assist the market progression as it offers lucrative opportunities for new and advanced products. Besides, the increasing adoption of new technologies and rising government initiatives for supporting the growth of the pharma industry will boost market development.