The connected drug delivery devices market, currently valued at $4.4 billion, is predicted to experience substantial growth, with a projected compound annual growth rate (CAGR) of 10.1% until 2035. This expansion is driven by the pressing need to address medication non-compliance, a significant challenge in healthcare. Non-adherence contributes to negative health outcomes, including disease progression, increased mortality risk, and higher hospitalization rates, ultimately leading to escalating healthcare costs. It’s estimated that approximately half of all prescribed medications in the US are not taken as directed. Several factors contribute to this issue, including forgetfulness, concerns about side effects, medication access difficulties, complex dosing schedules, and limited access to adequate healthcare services. In the US alone, the financial burden of medication non-adherence reaches approximately $290 billion annually.
Connected drug delivery devices offer a promising solution to improve medication adherence and overall healthcare management. These advanced medical devices utilize digital technologies to enhance drug administration and monitoring. Equipped with sensors and wireless connectivity, these devices seamlessly integrate with mobile applications, digital health platforms, and electronic health records. This connectivity allows for real-time data collection and transfer related to medication usage, patient compliance, and overall health status. The ability to remotely monitor patients enables timely interventions, facilitates analysis of disease patterns for treatment optimization, and provides patients with reminders and alerts to maintain consistent dosage schedules. Furthermore, the development of add-on sensors allows for upgrading conventional drug delivery devices into these more sophisticated, connected versions.
This technology empowers patients to participate actively in healthcare, potentially reducing healthcare expenditures. The increasing demand for accurate and effective digital health solutions and technological advancements, particularly integration with telehealth platforms, positions the globally connected drug delivery devices market for continued growth. A comprehensive market report details critical aspects of this evolving landscape, including profiles of leading companies, analyses of market dynamics, product competitiveness, clinical trials, partnerships and collaborations, funding and investments, value chain analysis, regulatory landscapes, and regional market breakdowns. The report provides valuable insights into the current state and future trajectory of the connected drug delivery devices market, exploring its potential to transform medication adherence and patient care.
Jon Napitupulu is Director of Media Relations at The Clinical Trial Vanguard. Ferry, a computer data scientist, focuses on the latest clinical trial industry news and trends.
