The outbreak of the COVID-19 pandemic triggered an urgent need to lessen the strain on healthcare sector and its resources. As a result, the adoption of teleconsultations and patient self-administration greatly surged for relieving some of this pressure. In fact, remote healthcare services became among the top three benefits of digitalization in healthcare amidst the pandemic. This propelled advancements in digital competences in the area of drug delivery. Connected drug delivery devices became increasingly popular, as they became a perfect aid for patients with chronic diseases during the pandemic situation.
Connected delivery solutions offer great value to the healthcare industry as well as patients, by providing enhanced medication adherence and outcome optimization. Supplying drugs by means of connected devices, such as smart inhalers, auto-injectors, and closed-loop solutions, has been accepted as a promising method of enhancing patient adherence and plummeting errors in dosing, mostly in the home settings.
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Newest Insights in the Connected Drug Delivery Devices Market
As per a report by Research Dive, the global connected drug delivery devices market s expected to grow with a striking CAGR of 24.29% in the 2022–2030 timeframe. The Asia-Pacific connected drug delivery devices market is expected to perceive rapid growth with a CAGR of 24.93% in the years to come. This is because, the region has an enormous demand for connected drug delivery devices owing to the growing cases of chronic diseases, high per capita healthcare expenditure, speedy acceptance of novel technologies and devices, and growing awareness about connected drug delivery devices in the region.
How are Market Players Responding to the Rising Demand for Connected drug delivery devices?
Growing occurrence of chronic ailments such as diabetes, asthma, and COPD among the people worldwide is driving the demand for connected drug delivery devices. Market players are greatly investing in innovative researches and developments to cater the rising demand for connected drug delivery devices. Some of the foremost players of the connected drug delivery devices market are Cohero Health, Inc., Propeller Health, Syncro Technology Corp., BD, Proteus Digital Health., Adherium, F. Hoffmann-La Roche Ltd, West Pharmaceutical Services, Inc., Ypsomed AG, AptarGroup Inc., and others. These players are focused on planning and devising tactics such as mergers and acquisitions, collaborations, novel advances, and partnerships to reach a notable position in the global market.
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For instance,
In January 2022, Innovation Zed, a developer of connected health solutions that support drug adherence and condition management, announced to launch InsulCheck® DOSE, a connected add-on device that converts conventional pen injectors into smart devices to aid the monitoring of disease management regimen.
In February 2022, Aptar Pharma, a worldwide frontrunner in drug delivery services, devices, and active material science solutions, launched HeroTracker® Sense, an innovative digital respiratory healthcare solution that converts a usual metered dose inhaler (pMDI) into a smart connected healthcare solution.
In May 2022, Jabil Healthcare, a major global supplier of healthcare manufacturing solutions, launched a platform called, Qfinity™ autoinjector. This platform is a reusable integrated solution for subcutaneous (SC) drug self-administration, at an affordable price as compared to its alternatives available in the market.
COVID-19 Impact on the Global Connected Drug Delivery Devices Market
The unexpected rise of the coronavirus pandemic in 2020 has optimistically impacted the global connected drug delivery devices market. During the pandemic period, the unpredicted surge in the demand for drug delivery solutions for self-administration or home care use due to the lockdown restrictions propelled the demand for connected drug delivery devices. The connected drug delivery devices market has witnessed robust growth under the disastrous situations during the pandemic, and the market is projected to observe massive growth in the forthcoming years as well.
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