Smart Drug Delivery Systems Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Smart Drug Delivery System Market covers analysis By Product (Connected Inhalers, Connected Autoinjectors, Connected Pen Injectors, Connected Wearable Injectors, Add-on Sensors, Others); Drug Delivery Mode (Injectable, Inhalation, Oral); Therapeutic Area (Metabolic Disorders, Neurological Disorders, Respiratory Disorders, Hormonal Disorders, Others); End User (Hospitals, Clinics, Home Care, Ambulatory Care Settings, Others), and Others, and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Sep 2023

  • Report Code : TIPRE00029980
  • Category : Medical Device
  • Status : Upcoming
  • No. of Pages : 150
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Smart drug delivery systems or connected drug delivery systems use a variety of strategies, formulations, technologies, and apparatus for drug administration at particular sites. Most pharmaceutical industry developments are driven by the desire to increase patient compliance. The drug formulators maximize adherence and concentrate on therapeutic regions, which also helps in enhancing the patient experience. Reducing dosage frequency and simplifying the administration process is essential for giving patients the greatest experience possible and promoting adherence to their treatment plan. New treatments for Somatic symptom disorder (SDDS) are constantly evolving into established methods of administering medication to particular areas.

Additionally, digitization in the healthcare industry gradually incorporates diagnostic point-of-care sensors and connected computation platforms, leading to patient migration towards regulated drug delivery systems. In addition, wearable sensors based on the Internet of Things (IoT) may now assess an individual's emotional state and their functioning, respiration, and biomarkers from their sweat. Nebulizers, dry powder inhalers, and metered dose inhalers are used for pulmonary drug delivery. The industry's significant growth is due to increased home healthcare, creating the demand for easy-to-use devices in home care settings. The device is anticipated to experience significant long-term growth due to the increased focus on improved patient compliance and healthcare standards, increased awareness of manufacturing footprint, associated costs, and the growing use of self-administered and integrated drug therapy. Additionally, increasing consumer awareness regarding benefits of networked systems over traditional systems is anticipated to fuel product demand, hence boosting market growth in the coming years.

The "Global smart drug delivery systems market analysis to 2030" is a specialized and in-depth study of the medical device industry with a special focus on global market trend analysis. The report aims to provide an overview of the smart drug delivery systems market with detailed market segmentation by product, drug delivery mode, therapeutic area, end user, and geography. The report provides key statistics on the market status of the leading smart drug delivery systems players and offers key trends and opportunities in the smart drug delivery systems market.

The smart drug delivery systems market is segmented by product, drug delivery mode, therapeutic area, end user, and region. Based on the product, the global smart drug delivery systems market is differentiated into connected inhalers, connected autoinjectors, connected pen injectors, connected wearable injectors, add-on sensors, and others. By drug delivery mode, the smart drug delivery systems market is segmented into injectable, inhalation, and oral. Based on the therapeutic area, the market is classified into metabolic disorders, neurological disorders, respiratory disorders, hormonal disorders, and others. On the basis of end-user smart drug delivery system is categorized into hospitals, clinics, home care, ambulatory care setting, and others.

The increase in chronic diseases such as diabetes, asthma, and others drives the global smart drug delivery systems market. Key factors include a rise in the prevalence of pathologic disease, an increase in the propensity for intravenous drug delivery, and an improvement in demand for medications in pre-filled syringes containing sizable molecules, driving the smart drug delivery market growth. Additionally, increased use of mobile-based healthcare applications, increasing preference for cloud-based computing paradigms, and rising demand for self-administration of drugs are driving the market growth. In addition, technological advancement in the near future is expected to create ample opportunities for the smart drug delivery systems market growth.

The increasing cost of medical treatments and the growing demand for improved patient outcomes are also expected to support the market growth. The rising inclination towards home healthcare, increasing prevalence of incurable diseases, and increased demand for preventative care will likely contribute to the market growth. Moreover, the increased use of smart devices in hospitals and labs to upkeep electronic health records (EHR) and the rising demand for smart drug delivery devices across various end-use industries are driving market growth. The significant increase in IoT-enabled devices and the growing adoption of IoT services are ongoing trends anticipated to boost global smart drug delivery systems market growth.

The global smart drug delivery systems market is expected to be dominated by North America owing to the increased healthcare expenditure, the rapid adoption of new technology and equipment, and the increased awareness about non-compliant drug therapy. The smart drug delivery systems market is expected to maintain its leadership position in coming years owing to the region's well-developed network infrastructure and healthcare business. Additionally, technological developments and advancements in healthcare technology, increasing demand for targeted drug delivery, and the growing prevalence of chronic diseases are expected to drive market growth. The region has also experienced significant growth in wearable injectors among large patient populations living with chronic disorders as it helps in the continuous health monitoring and timely delivery of required drugs. Moreover, new product launches by the major market players are also expected to contribute to overall market growth.

Asia- Pacific is expected to experience the fastest growth among all regions owing to the rising incidence of terminal illnesses and chronic disorders, followed by the development of quick communication methods is driving the market growth. Additionally, an increase in disposable income and a tendency to spend more on high-end medical services is expected to anticipate the smart drug delivery systems market growth. Moreover, various global market players are investing heavily in the Asia Pacific region owing to the large patient population with unmet needs are likely to create ample opportunities for smart drug delivery systems market growth.

World Geography

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The report covers key smart drug delivery systems market developments, such as organic and inorganic growth strategies. Various companies such as Abbott Laboratories, Adherium Ltd., Amiko Digital Health Limited, Cognita Labs, Becton, Dickinson and Company, CeQur Corporation, BIOCORP, E3D Elcam Drug Delivery Devices, HCmed Innovations Co., Ltd., Medtronic plc, H&T Presspart Manufacturing Ltd., Novo Nordisk A/S and among others are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the smart drug delivery systems market were acquisitions, partnerships & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market players in the smart drug delivery systems market are anticipated to have lucrative growth opportunities with the rising demand for smart drug delivery systems in the global market.

Key Developments in the Global Smart drug delivery systems market

  • In March 2022, Novo Nordisk A/S launched the NovoPen 6 & NovoPen Echo Plus smart connected insulin pens used for diabetes in the United Kingdom with a prescription.
  • In December 2021, as per the new contract signed by BIOCORP and H&T Presspart, the latter will market and sell the former's InspairTM smart add-on device for metered-dose inhalers. Inspair, a smart sensor created by BIOCORP that transforms inhalers into linked devices to help patients with asthma or chronic obstructive pulmonary disease (COPD) receive their therapy, will be included in the cooperation and made commercially available.

The report includes key companies' profiles, SWOT analysis, and smart drug delivery systems market size and strategies. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information for the last three years, and key development in the past five years.

The Insight Partner’s dedicated research and analysis team comprises experienced professionals with advanced statistical expertise and offers various customization options in the current study.

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

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to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

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to country scope.

The List of Companies

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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