Penetration of IoT and High Spending on Healthcare Drives Demand for Connected Drug Delivery Devices
The global connected drug delivery devices market is forecasted to behold a substantial growth trajectory during the forecast period (2015 to 2027), according to a new market study by XploreMR. The growth of the market is predominantly attributed to increased patient engagement and connectivity on the back of the growing penetration of the Internet of Things (IoT) in the pharmaceutical landscape.
Furthermore, increased spending by government and private organizations to improve healthcare is forecasted to bestow lucrative revenue opportunities to healthcare institutions and pharmaceutical companies in the years to come. Likewise, favorable government initiatives are also fueling the production and subsequent demand for connected drug delivery devices.
Most importantly, non-adherence to prescribed medicines results in an immense amount of revenue and resource wastage globally. Since connected drug delivery devices aid in enhancing adherence to prescribed medications, thereby reducing medical wastage and the revenue associated with it. On the back of these facets, the global connected drug delivery devices market will progressive on a remunerative path through the forecast period.
Global Healthcare Sector Outlook in Light of the Global Connected Drug Delivery Devices Market
Despite the economic and political uncertainty in the recent past, the global healthcare industry has been receiving positive nudges from reformative and technological disruptions in medical devices, pharmaceuticals and biotech, in-vitro diagnostics, and medical imaging. Key markets across the world are facing a massive rise in demand for critical care services that are pushing global healthcare spending levels to unimaginable limits.
A rapidly multiplying geriatric population; increasing prevalence of chronic ailments such as cancer and cardiac disease; growing awareness among patients; and heavy investments in clinical innovation are just some of the factors that are impacting the performance of the global healthcare industry. Proactive measures such as healthcare cost containment, primary care delivery, innovation in medical procedures (3-D printing, blockchain, and robotic surgery to name a few), safe and effective drug delivery, and well-defined healthcare regulatory compliance models are targeted at placing the sector on a high growth trajectory across key regional markets.
Parent Indicators Healthcare
Connected Drug Delivery Devices Market: Will Western Europe be Able to Beat the Adoption Rate of North America in the Coming Years?: Global Industry Analysis & Opportunity Assessment (2015 - 2027)Buy Now
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