Electronic Drug Delivery Systems Market By Product (Electronic Autoinjectors, Electronic Injection Pens, Electronic Inhalers, Electronic Wearable Infusion Pumps), By Applications (Cardiovascular Disease, Diabetes, Multiple Sclerosis, Asthma & Chronic Obstructive Pulmonary Disease), By Geography and Forecast
Electronic Drug Delivery Systems Market Size and Forecast
Electronic Drug Delivery Systems Market was valued at USD 7.57 Billion in 2019 and is projected to reach USD 14.51 Billion by 2027, growing at a CAGR of 8.5% from 2020 to 2027.
Global Electronic Drug Delivery Systems Market Overview
The onset of target diseases is the critical factor causing a surge in market growth. Tuberculosis occurred in every part of the world, with 10 million new cases in 2017. According to the World Health Organization, around 219 million malaria cases were reported worldwide. In 2019, 463 million adults who were aged 20-79 years were living with diabetes. In 2045, the count will increase to 700 million. The favorable reimbursements being deployed in upcoming markets will bolster the market growth. The upcoming technological advancements in the electronic drug delivery systems will pave the way for profitable opportunities in the market revenue. The onset of Industry 4.0 and technology is renovating the landscape of drug delivery. By building digital technology into drug delivery devices, the issues of patient adherence can be solved.
Another factor that will aid the electronic drug delivery systems gain traction in the design segment. The research scientists and engineers have started to work from the base level (understanding the patients health system). The goal is to understand the circumstances od the patients health and the challenges being faced. The major vendors launching new products is catalyzing the market growth. In January 2020, Medtronic showcased Effico, a cloud-based data management software integrated with the SynchroMed II intrathecal drug delivery system. The software enables clinicians to efficiently achieve their targeted drug delivery pump practices to cure patients with chronic pain, cancer pain, and severe spasticity. Other factors such as the increased awareness about the use of electronic drug delivery systems among the consumer base population, extensive disbursement by Research and Development towards the private industries will furnish the market growth.
Frequently Asked Questions (FAQs)
Global Electronic Drug Delivery Systems Market: Segmentation Analysis
The Global Electronic Drug Delivery Systems Market is segmented based on Product, Applications, and Geography.
Global Electronic Drug Delivery Systems Market Competitive Landscape
The Global Electronic Drug Delivery Systems Market study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Merck Group (Germany), Insulet Corporation (US), Bayer AG (Germany), Medtronic plc (Ireland), Novo Nordisk (Denmark), United Therapeutics Corporation (US), AstraZeneca (UK), Tandem Diabetes Care (US), and Amgen (US). The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
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