United States Connected Drug Delivery Devices Market, By Type By Technology (Bluetooth, NFC ); By End User, Trend Analysis, Competitive Landscape & Forecast, 2019-2029

United States Connected Drug Delivery Devices Market Size More Than Doubles to Touch USD 792.5 Million by 2029.

United States connected drug delivery devices market is flourishing because of the advancements in technology and a growing focus on the efficient management of increasing chronic ailments and remote surveillance.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the United States connected drug delivery devices market size at USD 375.74 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects United States connected drug delivery devices market size to grow at a significant CAGR of 11.25% reaching a value of USD 792.48 million by 2029. Major growth drivers for the United States connected drug delivery devices market include an increasing demand to enhance patient medication adherence, alongside a rising trend in research and development activities. This surge in activity is fueling exponential growth, thanks to the robust product pipeline from key players primed for commercial release during the forecast period. Further driving the market is the imperative to enhance patient medication adherence. As the call for connected drug delivery devices escalates, patients gain the ability to efficiently self-manage their treatment, leading to decreased clinic and hospital visits. These devices not only ensure precise dosage administration but also diminish the need for costly secondary interventions. Particularly in conditions like asthma and COPD, these devices play a vital role in patient care. By offering reminders and adherence tracking, they facilitate patient compliance with prescribed medication regimens, thereby mitigating the waste of valuable medications like injectable biologics. This synergy of factors is propelling the United States connected drug delivery devices market toward substantial growth. However, cost concerns and data privacy and security is anticipated to restrain the overall market growth during the forecast period.

United States Connected Drug Delivery Devices Market - Overview:

United States connected drug delivery devices market pertains to the sector within the United States healthcare industry that encompasses the production, distribution, and utilization of advanced drug delivery devices integrated with connectivity features. These devices are designed to facilitate enhanced medication adherence and patient self-management through digital monitoring and communication capabilities. The market's growth is driven by factors such as the need to improve patient compliance, advancements in research and development, and the accelerated adoption of remote monitoring, influenced by the COVID-19 pandemic. Connected drug delivery devices enable patients to receive accurate dosages, timely reminders, and adherence tracking, ultimately contributing to better treatment outcomes and reduced healthcare costs. This market's evolution signifies the intersection of medical technology and patient-centric care in modern healthcare practices across the United States.

Impact of COVID-19 on United States Connected Drug Delivery Devices Market

COVID-19 pandemic had a positive impact on the United States connected drug delivery devices market due to the increased awareness of these devices and the fostering of their adoption by both healthcare providers and patients. The significance of remote monitoring for medication adherence gained prominence as the pandemic underscored the value of minimizing in-person interactions. For instance, in 2021, Adherium Limited, a leading respiratory eHealth company, witnessed a global upswing in remote patient monitoring due to the pandemic. However, the company encountered pandemic-related challenges in executing planned pilot evaluations with partners in the United States. Looking back to 2022, the company expected robust commercial and research activities as movement restrictions eased and hospital access improved. This dynamic blend of challenges and opportunities in the post-pandemic landscape influenced the market's trajectory.

United States Connected Drug Delivery Devices Market - By Technology:

Based on technology, the United States connected drug delivery devices market is split into Bluetooth and NFC (Near Field Communication) segments. Bluetooth technology offers seamless and secure wireless communication, allowing devices to connect and exchange data with minimal interference. This feature is particularly vital in healthcare settings where data accuracy and privacy are paramount. Bluetooth-enabled devices enable real-time monitoring, data transmission, and remote control, enhancing patient care and treatment management. Furthermore, the widespread use of smartphones and tablets with built-in Bluetooth capabilities facilitates user-friendly interactions. The established compatibility of Bluetooth technology with various devices and its proven reliability have contributed to its dominance within the United States connected drug delivery devices market, making it the preferred choice for ensuring efficient and effective connected healthcare solutions.

Competitive Landscape:

Major players operating in the United States connected drug delivery devices market include: Propeller Health, Adherium, Teva Pharmaceutical Industries, Novartis, AstraZeneca, GSK (GlaxoSmithKline), Boehringer Ingelheim, ResMed, Amgen, and Becton, Dickinson and Company (BD). To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of United States Connected Drug Delivery Devices Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in United States Connected Drug Delivery Devices Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.