George I’ons - head of Product Strategy and Insights at Owen Mumford Pharmaceutical Services takes a deep dive into the state of the connected drug delivery device industry.
Connected
The current health crisis highlights the value of migrating some healthcare procedures beyond the confines of the hospital. In some areas, this is already well-developed, notably remote patient monitoring for chronic respiratory conditions and diabetes. Other areas are now playing catch-up; according to our own analysis, the global market for connected drug delivery devices (injectables and inhalation devices specifically) is projected to reach $706 million by 2025 – that is to say a CAGR of over 25% from its $225 million value in 2020.[1] This projected pace will however depend on a number of key stakeholders and their attitudes towards the development and adoption of these devices. Given the potential of increased digitalisation in improving the efficiency of health services, a careful examination of the healthcare landscape and the factors driving new forms of patient monitoring is constructive.
Benefits for key stakeholders