Connected Drug Delivery Devices Market to Grow at a Significant Rate During the Forecast Period
Increasing cases of asthma drives the Global Connected Drug Delivery Devices Market toward its anticipated growth.
According to TechSci Research report, “Global Connected Drug Delivery Devices Market By Product Type (Connected Sensors v/s Integrated Connected Devices) By Technology (Bluetooth, Near Field Communication, Others) By Application (Asthma & COPD, Diabetes, Others) By End User (Healthcare Providers v/s Homecare) By Region, Competition Forecast & Opportunities, 2026”, the Global Connected drug delivery devices is expected to grow at a promising rate during the forecast period. The market is growing on the backbone of increasing concerns over preventive care, clear shift of market toward connected devices over manual devices and efficiency of the connected drug delivery devices in procedures. Moreover, government initiatives toward prevention of chronic devices is also supporting the growth of the market in the next five years.
Due to the onset of COVID-19 and imposition of complete lockdown to mitigate the coronavirus, there has been shutdown of many manufacturing units and disruption in the supply chain resulting in interrupted production and lesser supply of the implants all around the globe. Also, the economy has been adversely affected in many countries resulting in the hinderance to the growth of the Connected drug delivery device market. However, after relief from lockdown market is again going to pick up pace to grow significantly.
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The global connected drug delivery device market is segmented by product type, technology, application, end user, and regional distribution. Based on fragmented into Bluetooth, near field communication, and others. In the historical years, bluetooth segment dominated the market, and is expected to dominate the market in upcoming five years too on the account of increasing technological advancement in the connected drug delivery device, and their feasibility with connecting them with smartphones.
Some of the major competitors in the market are Abbott Laboratories, Inc., Reciprocal Labs Corporation (Propeller Health), F. Hoffmann-La Roche Ltd., Teva Pharmaceutical Industries Ltd., Biocorp Production SA, Merck KGaA, Adherium Ltd, West Pharmaceutical Services, Inc., Aterica Digital Health, Molex LLC (Phillips Medisize), Cohero Health, Inc., Elcam Medical ACS. Ltd, Becton, Dickinson, and Company, Ypsomed Holding AG, Unilife Corporation, among others. The companies are focusing on extensive research and developments activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships.
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“Home care units are a promising sector for the drug delivery devices market in the future. Moreover, the North American region is expected to continue its dominance over the market. Healthcare infrastructure and disposable income toward healthcare is quite high and the growth is confirmed for the forecast period. New investors can keep the fact in mind before they decide to invest in the market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Global Connected Drug Delivery Devices Market By Product Type (Connected Sensors v/s Integrated Connected Devices) By Technology (Bluetooth, Near Field Communication, Others) By Application (Asthma & COPD, Diabetes, Others) By End User (Healthcare Providers v/s Homecare) By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of Global Connected drug delivery devices and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Connected drug delivery devices.
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