Electronic Drug Delivery Systems Market Projected To Grow At 9.2% CAGR During 2019-2025 – Zion Market Research
As per the ZMR’s Latest research report, the global electronic drug delivery systems market had attained a value of around USD 7.2 billion in 2018 and is anticipated to reach about USD 13.3 billion by 2025, developing at about 9.2% CAGR between 2019 and 2025. Electronic drug delivery systems are therapeutic devices utilized to administer growth hormones, medicines, and drugs of preferred quantity within patients. It thus makes patients less dependable on drug regimens, caregivers, and medical professionals.
The key factors fueling the growth of the global electronic drug delivery systems market is are launching of new product and technological improvements around the world. Also, numerous benefits presented by electronic drug delivery systems in comparison to the conventional drug delivery techniques has resulted in technological developments that are projected to drive the market growth during the years to come. In addition, increase in prevalence of numerous chronic disorders—like diabetes, chronic obstructive pulmonary disorders (COPD), neurological disorders, cardiovascular disorders, and so on—needing longstanding care are anticipated to boost the growth of the global market during the forecast period.
The global electronic drug delivery systems market is categorized based on component, type, system type, connectivity, end user, application, and region. the market, based on type, is divided into electronic injection pens, electronic capsules, electronic infusion pumps, electronic inhalers, electronic auto-injectors, and others. Among these, the market is anticipated to be ruled by electronic infusion pumps segment as it offers accurate drug administration. The market, based on connectivity, is classified into Wi-Fi, Bluetooth low energy (BLE), NB-IoT, Ethernet, and others. Among these, the Bluetooth low energy (BLE) segment is projected to rule the market as a majority of the electronic drug delivery systems are supported by Bluetooth.
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The global electronic drug delivery systems market, based on component, is categorized into wireless communicator & antennas, sensors, drug reservoir, micro pumps & flow regulators, microcontroller and others. The market, based on application, is divided into asthma & chronic obstructive pulmonary disease (COPD), thalassemia, diabetes, growth hormone therapy, multiple sclerosis, cardiovascular disease, immunodeficiency disease, and others. Among these, diabetes segment is anticipated to hold highest market share owing to elevated incidence rate of diabetes globally and high obtainability of insulin pumps in comparison to other electronic drug delivery systems. The market, based on end-user, is categorized into clinics, hospitals, ambulatory centers, home healthcare, and others. The market, based on system type, is divided into rechargeable systems and battery-powered systems.
Geographically, during the forecast period, North America is anticipated to govern the global electronic drug delivery systems market owing to early implementation of technologically innovative products, high incidence of chronic disorders needing longstanding management, and increase in need for self-administration therapy. Further, Europe is also anticipated to witness lucrative growth within the electronic drug delivery systems market in the coming period. likewise, Asia Pacific market is also expected to witness substantial growth rate on account of fast enhancing healthcare infrastructure and swift rise in the digit of patients with COPD, cardiovascular disorders, and diabetes in heavily populated nations, like China, South Korea, & India.
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The prominent players operating in the global electronic drug delivery systems market are Amgen Inc., AstraZeneca, Merck KGaA, Ypsomed AG, Nemera, Bayer AG, Teva Pharmaceuticals USA, Inc., F. Hoffmann-La Roche Ltd, Novo Nordisk A/S., AptarGroup, Inc., Medtronic, ViCentra B.V., Companion Medical, United Therapeutics Corporation, Debiotech S.A., Tandem Diabetes Care, Inc., Insulet Corporation, Canè S.p.A, B. Braun Melsungen AG, West Pharmaceutical Services, Inc., and BD, among others.
- CDN Newswire