Connected Injectable Drug Delivery Devices Market: Introduction
- Health care professionals readily use connected injectable drug delivery devices, which help them record dosing patterns of patients. These drug delivery devices help in identifying a patient’s issues with respect to the treatment, medication, and other disease management protocols which are of major concern for pharmaceutical and health care industries. Usually, these devices are designed to be patient centric.
- Some of the factors taken into account while making these designs are human factor analysis, comfortability, and user friendliness. Human factor analysis benefits both the physician and the patients in terms of safety.
- Over the last few years, use of injectable contraceptives, which come under connected injectable medical devices, has increased significantly, due to increase in the demand for precise diagnosis.
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Key Drivers of Global Connected Injectable Drug Delivery Devices Market
- The global connected injectable drug delivery devices market is expected to expand rapidly in the next few years, due to rise in the prevalence of chronic diseases and convenience and benefits offered by these devices
- Increasing patient population and rising unmet medical needs augmenting the demand for health care services lead to rise in the cost pressure on global health care systems. This is expected to drive the global connected injectable drug delivery devices market in the next few years. For example, according to the American Arthritis Association, in 2017, rheumatoid arthritis (RA) affected over 1.5 million people in the U.S. Similarly, increase in the incidence of diabetes is expected to drive the global connected injectable drug delivery devices market in the near future.
- Currently, interest in connected drug delivery devices is increasing, due to advancements in and use of the microneedle technology for industrial applications of hormones and vaccines. Most health care companies are focusing on developing new and innovative connected drug delivery devices; some of them have received significant funding for development of targeted drug delivery systems.
- Additionally, technological advancements, improvement in patients’ compliance, better reimbursement policies, and increase in use of biologics are expected to drive the global connected injectable drug delivery devices market in the next few years
- On the other hand, regulatory hurdles led by precise requirement for data and evidences for development of new technologies and high costs of some of the connected injectable drug delivery devices are some of the factors restraining the global connected drug delivery devices market
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North America to Hold a Major Share of Global Connected Injectable Drug Delivery Devices Market
- North America dominates the global connected injectable drug delivery devices market, due to technological advancements in the pharmaceutical sector and high rate of adoption of products in the region
- Asia Pacific is expected to be the most lucrative market for connected injectable drug delivery devices in the near future, due to ongoing development of medical infrastructure, rise in the adoption of technologically advanced surgical procedures, and increase in government initiatives in the region.
Key Players Operating in Global Market
The global connected injectable drug delivery devices market is highly saturated, with key manufacturers implementing numerous plans to gain higher market share
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Some of the key players operating in the global connected injectable drug delivery devices market are:
- Ypsomed Holdings
- Unolife Corporation
- Quio Technologies
- Phillips-Medisize Corporation
- SHL Group
- Haselmeier Inc.
- West Pharmaceutical Services Inc.
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