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Connected Drug Delivery Devices Market Size, Share & Industry Analysis, By Type (Injectable Devices and Inhalation Devices & Others) By Technology (Bluetooth, NFC, and Others) By End User (Homecare Settings and Hospitals) and Regional Forecast, 2019-2026
The global connected drug delivery devices market size stood at USD 361.1 million in 2018 and is projected to reach USD 4,062.7 million by 2026, exhibiting a CAGR of 35.4% during the forecast period.
According to The Fortune Business InsightsConnected Drug Delivery Devices Market, discusses various factors driving or restraining the market, which will help the future market to grow with promising CAGR. The Connected Drug Delivery Devices Market Research Reports offers an extensive collection of reports on different markets covering crucial details. The report studies the competitive environment of the Connected Drug Delivery Devices Market is based on company profiles and their efforts on increasing product value and production.
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Connected drug delivery devices are medical devices that use wireless technology to transmit data regarding the administration of medication to healthcare providers. They can also provide patients with reminders for when to take their medication and monitor their adherence to treatment plans.
Major Key Players in Connected Drug Delivery Devices Market Report are:
Report Drivers and Trend Analysis:
Growing Focus on Preventive Treatments for Chronic Diseases to Drive Growth
Rising incidence of chronic diseases globally increases opportunities for growth of the connected drug delivery device market. In 2016, the Global Burden of Disease Study said that the prevalence of COPD increased by approximately 14.7% between his 1990 and 2015. Moreover, networked drug delivery devices have several new advantages. So they tend to do it quickly by replacing manual devices.
Moreover, increasing interest in prevention of chronic diseases is likely to contribute to market growth in the coming years. For example, The Lancet Respiratory Medicine published a study in his 2015 highlighting that in New Zealand, acceptance of smart inhalers increased to 84.0% among children with asthma between 2014 and 2015.
The Scope of the Report:
The report segments the global Connected Drug Delivery Devices Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of the market. A magnified look at the segment-based analysis is aimed at giving the readers a closer look at the opportunities and threats in the market. It also addresses political scenarios that are expected to impact the market in both small and big ways. The report on the global Connected Drug Delivery Devices Market examines changing regulatory scenarios to make accurate projections about potential investments. It also evaluates the risk for new entrants and the intensity of the competitive rivalry.
Connected Drug Delivery Devices Market Segmentation:
By Type
By Technology
By End User
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Regional Perspectives:
Increasing Demand for Digital Medical Devices to Favor Growth in Europe
North America had generated USD 253.0 million Connected Drug Delivery Devices Market revenue in 2018. The region is anticipated to lead the market throughout the forthcoming years. Strategic collaborations, existence of major players, increasing healthcare expenditure, and well-established infrastructure are some of the most significant drivers of the market in this region. Europe is experiencing a rising demand for digital medical devices as well as a higher adoption of connected drug delivery devices on account of an urgent requirement to improve the patient experience.
Asia Pacific is showcasing a rise in the number of awareness programs regarding the cost benefits of connected drug delivery devices. It is also exhibiting an increasing adoption of innovative medical technology. These factors are set to create high growth opportunities.
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Press Release Distributed by The Express Wire
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