New York, USA, Sept. 02, 2020 (GLOBE NEWSWIRE) -- Research Dive has added a new report to its offering titled, “Connected Drug Delivery Devices Market, by Type (Injectable Devices, Inhalation Devices, and Others), by Technology (NFC, Bluetooth, Others), by End-User (Homecare settings and Hospitals) Regional Analysis (North America, Europe, Asia Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027 ”.
The global connected drug delivery devices market accounted for $ 184.9 Million in 2019 and is anticipated to reach up to $ 1,119.3 Million by 2027, growing at a CAGR of 24.6% from 2020 to 2027. As per the report, the Asia-Pacific market is estimated to grow at a healthy growth rate of 26.3% during the projected timeframe, due to rising technological advances and strategic collaborations in the region.
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Key Segment Findings of the Market:
The market is segmented on the basis of type, technology, end-use, and region.
- Among types, the injectable devices segment is expected to seize the biggest market share by garnering $652.2 million by 2027. This is mainly because of the extensive usage of electronic technology in healthcare devices.
- Among technology, the Bluetooth segment is anticipated to lead the global market by gathering $733.0 million by 2027. This is mainly attributed to the widespread availability of affordable connectivity access to smartphones.
- Among end-use, the hospital segment is expected to grab significant market share by garnering a revenue of $805.8 million by 2027. This is mainly due to increasing adoption of connected drug delivery devices in hospitals.
- Based on region, the North America market is estimated to dominate the global market throughout forecast period; mainly owing to the growing investments in R&D and technological developments in connected drug delivery devices in the region.
Market Dynamics
Growing occurrences of chronic diseases like diabetes, asthma, and COPD and rising technological developments are fueling the growth of the global connected drug delivery devices industry. On the other hand, higher costs of connected drug delivery devices is likely to obstruct the growth of the market.
COVID-19 Impact on the Connected Drug Delivery Devices Market Growth:
The COVID-19 pandemic has augmented the demand for connected drug delivery devices, thus boosting the market growth. The sales of connected drug delivery devices have observed a considerable rise all over the globe. Numerous players involved in the connected drug delivery devices manufacturing are taking initiatives to offer their products and services during the pandemic. For instance, Aptar Pharma, a leader in drug delivery device manufacturing, has entered into a partnership with Lupin to develop ADHERO, India’s first connected drug delivery system for the COPD (chronic obstructive pulmonary disease) and asthma patients, in January 2020.
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Top 10 Major Players of the Global Connected Drug Delivery Devices Industry:
- West Pharmaceutical Services
- Adherium
- BD
- Proteus Digital Health
- F. Hoffmann-La Roche Ltd
- Ypsomed AG
- Cohero Health, Inc.
- AptarGroup Inc.
- propeller Health
- Syncro Technology Corp.
Several business tactics such as acquisitions, mergers, R&D activities, new product launches, etc. are adopted by these players to obtain a strong position in the global industry. Moreover, the report presents the performance, business strategies, financial performance, and product portfolio of these players along with Porter Five analysis and SWOT analysis. Inquire The Report at https://www.researchdive.com/purchase-enquiry/348