Connected Injectable Drug Delivery Devices Market - Forecast (2020 - 2025)
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Connected Injectable Drug Delivery Devices Market Overview
Self-administration of drugs through pre-filled syringes is one of the different ways that is helping patients save the fees given to a caregiver. The global connected injectable drug delivery devices market is estimated to surpass $22,814m by 2023, growing at an estimated CAGR of 6.8% from 2018 to 2023.The Europe region is the largest market for connected injectable drug delivery devices owing to the large customer pool.
Connected Injectable Drug Delivery Devices Market Outlook
Connected injectable drug delivery devices record the dosing pattern of patients and makes it available to healthcare professionals. These drug delivery devices help in addressing patient's issues with regard to medications, treatments, and disease management protocols that are of major concern for professionals in the healthcare and pharmaceutical industries. Before bringing a connected health offering to life, it is important to understand the fundamentals of patient-centric design. One of the most successful elements in fulfilling the need for patient-centric design is human factors analysis, which benefits the patient by making injection systems more comfortable and user-friendly.
This report provides an in-depth analysis of the connected injectable drug delivery devices market by delivery devices type, connectivity technology, by disease, and by geography. On the basis of delivery devices type, the market is categorized into conventional injection devices, self-injection devices, and others. On the basis of connectivity technology, the market is segmented into wireless technology, Bluetooth, near infrared technology, and smart phone apps. Based on disease, the market is categorized into anaphylaxis, autoimmune disease, cardiovascular, diabetes, hormone replacement, and others.
Connected Injectable Drug Delivery Devices Market Growth Drivers
The market is forecast to be majorly driven by the increase in cases of chronic diseases like rheumatoid arthritis, cardiovascular disease, cancer and diabetes. The increasing concern of the pharmaceutical or medical devices companies towards development of connected injectable drug delivery devices is expected to drive the connected injectable drug delivery devices market.
Connected Injectable Drug Delivery Devices Market Challenges
The regulatory hurdles due to high requirement of data and evidences for developing new technologies and recent product recalls by the FDA are restraining the growth of the connected injectable drug delivery devices market. High cost of these connected injectable drug delivery devices and data security and privacy issues are also hindering the market growth.
Connected Injectable Drug Delivery Devices Market Research Scope
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the connected injectable drug delivery devices market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to measure their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of delivery devices, and connectivity technology in the connected injectable drug delivery devices market.
Connected Injectable Drug Delivery Devices Market Report: Industry Coverage
Delivery devices type in Connected Injectable Drug Delivery Devices: Conventional Injection Devices, Self-Injection Devices, and Others
Connectivity technology in Connected Injectable Drug Delivery Devices: Wireless Technology, Bluetooth, Near Field Technology, and Smart Phone Apps
Diseases in Connected Injectable Drug Delivery Devices: Anaphylaxis, Autoimmune Disease, Cardiovascular, Diabetes, Hormone Replacement, and Others
North America: The U.S., Canada, Mexico
South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
The Middle East and Africa: Israel, South Africa, Saudi Arabia
Connected Injectable Drug Delivery Devices Market Key Players Perspective
Some of the key players mentioned in this report are Ypsomed Holdings, Unolife Corporation, Quio Technologies, SHL Group, Biocorp, Haselmeier Inc., and West Pharmaceutical Services, Inc.
Connected Injectable Drug Delivery Devices Market Trends
Rising prevalence of multiple sclerosis and rheumatoid arthritis will also impact the connected injectable drug delivery devices market.
Rising incidence of diabetes globally will also propel the growth of the connected injectable drug delivery devices market
Conventional injection devices accounted for the major share of the total market in 2017.
As per IndustryARC analysis, the conventional injection devices segment will generate substantial revenue by 2023. The advancement in technology and rising incidences of rheumatoid arthritis and multiple sclerosis are set to drive the market in the next few years.
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