Connected drug delivery devices integrate wireless connectivity options, like Bluetooth and NFC, with traditional drug delivery systems. Connectivity can be established by attaching reusable connected add-ons, such as sensors, to existing devices (e.g., inhalers and insulin pens) or by using devices with built-in connectivity. Once connected via Bluetooth, these devices collect and transmit usage data to a mobile app, which then uploads the information to the cloud for access by patients, payers, and physicians 

Due to the benefits associated with maintaining device usage records, dose reminders, and providing audio-visual feedback for improving device user experience, the connected drug delivery devices become the innovative solution for user training, remote patient monitoring, improved medication adherence, decentralized clinical trials, and management of chronic diseases such as asthma, COPD, and diabetes. 

The global connected drug delivery devices market was valued at $440.71 million in 2023 and is estimated to reach $4,908.52 million by 2033, registering a CAGR of 27.06% from 2024 to 2033.

Following Factors Driving the Market Growth 📈:

(1) Surge in Approved Devices 📟: The connected drug delivery market is expanding rapidly with increasing commercial approvals for devices such as Adherium and Propeller Health's smart inhalers, BIOCORP’s Mallya and SoloSmart clip-on devices for insulin pens Injectors, and Enable Injections' enFuse® body-worn system. This growth is driven by rising demand for connected healthcare solutions, and further approvals are expected to fuel continued market expansion. 

(2) Increase in Healthcare IT Infrastructure Investment 💸: For instance, in 2020, venture capital funding in digital health reached $14.8 billion, a 66% increase from 2019, and telemedicine was the top-funded category with $4.3 Billion. 

(3) Rising patient awareness about adherence to prescribed therapies 💊: Currently, up to 30% of prescriptions for treating chronic conditions are never filled, and across major indications, more than 50% of patients stop taking medications within the first year. According to the New England Healthcare Institute, this non-adherence to prescribed medication translates into an annual loss of approximately USD 290 billion in the U.S. alone.

Additional factors driving market growth include the rising prevalence of chronic diseases, increased demand for patient connectivity and engagement, and the expanded use of connected drug delivery devices in decentralized clinical trials and remote patient monitoring. However, high device costs and concerns regarding patient data privacy and security are expected to hinder market growth. 

The report also presents a detailed quantitative analysis of the current market trends and future estimations from 2020 to 2033. 

The forecasts cover 5 Device Types, 2 Product Types, 3 Technology Types, 3 Applications, and 4 Regions.

The report comes with an associated data file covering quantitative data from all numeric forecasts presented in the report.

• January 2024: BioCorp, now part of Novo Nordisk, received FDA 510(k) clearance to market SoloSmart®, a Bluetooth-enabled add-on device that enhances diabetes management by connecting with Sanofi's SoloStar® insulin pens.

• October 2023: Enable Injections received FDA approval for its enFuse® system, which serves as the EMPAVELI Injector for the subcutaneous delivery of EMPAVELI® (pegcetacoplan), a product of Apellis Pharmaceuticals.

• June 2023: Novo Nordisk announced its acquisition of BioCorp for €154 million after a two-year partnership on the Mallya clip-on device for insulin pens.

• July 2022: Adherium received FDA 510(k) clearance to market a new GlaxoSmithKline’s (GSK) Ellipta® inhaler application. The system integrates Adherium’s next-generation Hailie sensor to monitor physiological parameters for asthma and COPD management.

• April 2022: Ypsomed, Abbott, and CamDiab partnered to develop an integrated automated insulin delivery (AID) system to ease diabetes management.

• February 2022: Aptar Pharma launched HeroTracker Sensor, a digital respiratory healthcare system that transforms metered dose inhalers into connected devices.

• May 2021: Eli Lilly and Company collaborated with Glooko Inc., DexCom, Roche, and myDiabby Healthcare to bring connected diabetes solutions to markets outside the U.S.

The report has the following key findings:

• Market Value: The global connected drug delivery devices market was valued at $440.71 million in 2023 and is projected to reach $4,908.52 million by 2033, achieving a CAGR of 27.06% from 2024 to 2033.

• Device Type: In 2023, inhalers held the largest market share, followed by pen and auto-injector devices.

• Product Type: Add-on connected sensors were the top contributors by product type.

• Application: The asthma and COPD segment is expected to remain the largest application segment throughout the forecast period.

• Regional Insights: North America led the global market in 2023 and is anticipated to maintain its dominance. In the Asia-Pacific, China and Japan are expected to experience the highest CAGR through 2033.

The report covers the following topics:

• Market Drivers, Restraints, and Opportunities

• Porter's Five Forces Analysis

• COVID-19 Impact on Connected Drug Delivery Devices Industry

• Analysis by Device Type, Product Type, Technology, Application, and Region

• 19 Company Profiles, Product Portfolio, Financial Overview, and Key Strategies

• Key Market Developments

• Market analysis and forecasts from 2020 to 2033

• Conclusion