JERSEY CITY, New Jersey, June 11, 2020
- The onset of target diseases, increased awareness among the consumer base population, extensive disbursement by Research and Development towards the private industries will furnish the market growth
JERSEY CITY, New Jersey, June 11, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "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)". According to the report, Global 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.
This report provides detailed analysis of the growth trends among each of the segments as well as accurate forecasts in terms of the value and volume.
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Browse in-depth TOC on "Electronic Drug Delivery Systems Market"
174 - Pages
104 – Tables
37 – Figures
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. The 3M Intelligent Controller is an electronic inhaler that is constructed to diagnose patients who have asthma and chronic obstructive pulmonary disease (COPD). The sensor in the inhaler is programmed to detect whether the patient has inhaled for a longer duration to attain the full prescription of the drug. Although the product is not available for commercial sale, the inhaler can be connected to the smartphone. The systems will make the patient remind about the duration of the drug to be taken and providing instructions on how to use it. It will record the length of the dosage taken, and it will provide guidance, set a reminder, and improve the healthcare decisions made by the patient in the coming future. The t slim X2 Insulin Pump, by Tandem Diabetes Care, is the first FDA approved insulin pump proficient of remote feature updates. By using the personal computer or smartphone, the patients can keep their pump up to date with the latest technology during its contract period.
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 patient's health system). The goal is to understand the circumstances of the patient's 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. 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).
Verified Market Research has segmented the Electronic Drug Delivery Systems Market on the basis of Product, Application and Geography.
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