The congestive heart failure drugs market size is estimated to be USD 6,285.9 million in 2022 and is expected to witness a CAGR of 14.79% during the forecast period 2023-2033. Strong product pipeline, ageing population, and rising prevalence of disorders including obesity, diabetes, hypertension, chronic pulmonary diseases, and renal disease are projected to drive the market growth in near future. Furthermore, increase in R&D activities and availability of a number of drugs in the clinical pipeline and rising product approvals and novel product launches are other factors supporting market growth. However, lack of awareness and frequency of diagnosis of diseases including hypertension are predicted to limit market growth are expected to restrain the market growth.

Increase in R&D activities and availability of a number of drugs in the clinical pipeline is expected to propel the market growth during the projected period. For instance, the FDA approved the NDA for Cytokinetics’ drug Omecamtiv Mecarbil in February 2022. Omecamtiv Mecarbil is a selective cardiac myosin activator that is beneficial in enhancing contractility related to heart failure. Semaglutide, tirzepatide, cimlanod, CardiAMP cell therapy, Revascor (Rexlemestrocel-L), Furoscix infusor, and others are clinical trial drugs for CHF. The approval and subsequent release of such drugs during the ensuing years is anticipated to accelerate the growth.

Rising product approvals and novel product launches is predicted to fuel the market growth during the forecast period. Through product approvals and new product launches, pharmacological alternatives for the disease are currently moving in the direction of a better treatment strategy. For instance, the FDA approved Boehringer Ingelheim’s Jardiance (empagliflozin) in February 2022 to lower the risk of adult hospitalizations and cardiovascular death. Growth is being accelerated by these novel approvals and launches.

Segmentation

By Product Type

The market is categorized into integrated devices and standalone components & software. In 2022, the standalone components & software segment accounted for the highest revenue share due to the rising need for connected sensors to convert traditional drug delivery systems into connected drug delivery systems without affecting systems’ basic functions. Even though the device is disposable, the sensors can be used again. Additionally, the industry has experienced remarkable growth as a result of technological advancement and the proliferation of device connectivity. HeroTracker Sense, a metered-dose inhaler (MDI) add-on, was introduced by Aptar Pharma in February 2022. It converts a traditional inhaler into a smart connected drug delivery device. On the other hand, integrated devices are predicted to experience the fastest growth during the projected period. The integrated devices allow patients to manage their pharmaceutical therapy even in remote locations and can be used for injectable and inhalational administration systems. According to estimates, the segment will grow due to the expanding availability of integrated networked drug delivery systems. For instance, Elcam’s FlexiQ eMU-P connected autoinjector is a self-administration device for home use that is appropriate for injecting high-viscosity medications. It offers calendar settings, injection reminder alarms, wireless injection data transmission to off-site storage, and more.

By Route of Administration

The market is categorized into inhalational and parenteral. In the global market, the parenteral segment accounted for the largest revenue share in 2022 owing to multiple benefits that smart & connected parenteral devices offer over conventional ones. It is also anticipated that the rising prevalence of chronic diseases such as cancer, diabetes, and other diseases including cancer and neurological disorders will propel segment expansion during the projected period. Mallya, a smart cap for pen injectors, was introduced by Biocorp in November 2020. It automatically records data (such as the injection dose, date, and time) and sends it in real-time through Bluetooth to companion software. The inhalational devices are expected to expand the fastest during the predicted period. Asthma, Chronic Obstructive Pulmonary Diseases (COPD), and other respiratory diseases are among the respiratory conditions with increased prevalence, which is responsible for this growth. For instance, the frequency of asthma in the United States was predicted by the Centers for Disease Control and Prevention (CDC) to be over 25 million in 2020. In the upcoming years, segment growth is anticipated to be supported by significant companies’ R&D initiatives and product releases.

By Application

The market is segmented into COPD, diabetes management, asthma, others. In 2022, the diabetes management segment accounted for the largest revenue share owing to increasing prevalence of diabetes, technological development, and research and development for insulin administration systems. For instance, according to the International Diabetes Federation, 537 million people worldwide can have diabetes by 2021. By 2030, this number is anticipated to reach 643 million. As connected drug delivery devices continue to advance, which has the potential to completely change how diabetes is controlled, the industry is expected to witness a wide range of advances. The fastest growth is projected for the other Applications section during the next several years. It includes autoimmune disease including multiple sclerosis, headaches, and osteoporosis. Terumo Corporation decided to build its PLAJEX syringe with the osteoporosis medication Teribone in December 2019 using the YpsoMate prefilled autoinjector by Ypsomed (developed by Asahi Kasei Pharma). Japan held the presentation of the finished product. The segment’s expansion is anticipated to be driven by similar alliances and partnerships.

Regional Markets

In 2022, North America region accounted for the highest revenue in the connected drug delivery services market and is expected to maintain its dominance during the forecast period. This is attributed to the high per capita healthcare spending in the region, key players’ rapid adoption of new technologies, and rising popularity of remote drug adherence monitoring. For instance, CapMedic, a Class II device that functions as an inhaler attachment for MDI, was created by Cognita Labs, LLC, a company with its headquarters in the United States. It tracks the frequency, time, and correctness of inhaler consumption and offers audio-visual interactive real-time feedback on proper usage. The Asia Pacific region is predicted to experience the fastest growth during the forecast period due to the increasing prevalence of chronic diseases and the availability of a sizable patient population base. The expansion of the region is also anticipated to be driven by the expanding number of companies and initiatives launched by them. For instance, the public company Adherium, which has its headquarters in New Zealand, focuses on creating solutions for remote monitoring, patient adherence, and data management in the respiratory industry.

Competitor Insights

Some of the key players operating in the connected drug delivery services market are Novo Nordisk A/S, Biocorp, Propeller health, Medtronic, Tandem Diabetes Care, Inc., Phillips-Medisize, LLC, Ypsomed AG, Teva Respiratory, LLC, Adherium Limited, and Aptar Pharma.

To achieve a competitive edge, these companies are implementing a variety of growth strategies. Strategic partnerships, alliances, and agreements with different businesses and research institutions are seen to be the main strategies used by companies in this sector.

• For instance, Nemera opened a new building in Lyon, France, in September 2022. This location is planned to serve as the company’s new European headquarters and innovation hub.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including product type, route of administration, and application from 2023 to 2033.

Report Scope:

Segmentation: Connected Drug Delivery Services Market Report 2022 – 2033

Product Type (Revenue, USD Million), 2022 – 2033

• Integrated Devices
• Standalone Components & Software

Route of Administration (Revenue, USD Million), 2022 – 2033

• Inhalational
• Parenteral

Application (Revenue, USD Million), 2022 – 2033

• COPD
• Diabetes Management
• Asthma
• Others

By Region (Revenue, USD Million), 2022 – 2033

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA