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
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.
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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
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.
Global Connected Injectable Drug Delivery Devices Market: Research Scope
Global Connected Injectable Drug Delivery Devices Market, by Product
- Conventional Injection Devices
- Self-injection Devices
- Pen Injectors
- Needle-free Injectors
- Auto Injectors
Global Connected Injectable Drug Delivery Devices Market, by Connectivity Technology
- Wireless Technology
- Near-field Technology
- Smartphone Apps
Global Connected Injectable Drug Delivery Devices Market, by Disease
- Autoimmune Diseases
- Hormone Replacement
Global Connected Injectable Drug Delivery Devices Market, by End-user
- Homecare Settings
Global Connected Injectable Drug Delivery Devices Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.