Global demand for the electronic drug delivery systems market was valued at approximately USD 7.2 Billion in 2018 and is expected to generate revenue of around USD 13.3 Billion by end of 2025, growing at a CAGR of around 9.2% between 2019 and 2025.
Electronic Drug Delivery Systems Market
The report covers forecasts and analyses for the electronic drug delivery systems market on a global and regional level. The study provides historic data from 2016 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the electronic drug delivery systems market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the electronic drug delivery systems market on a global as well as regional level.
According to the report, the global demand for electronic drug delivery systems market was valued at approximately USD 7.2 Billion in 2018 and is expected to generate revenue of around USD 13.3 Billion by end of 2025, growing at a CAGR of around 9.2% between 2019 and 2025.
In order to give the users of this report a comprehensive view of the electronic drug delivery systems market, we have included a competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein the product and services segment is benchmarked based on their market size, growth rate, and general attractiveness.
The report provides a company market share analysis in order to give a broader overview of the key players in the electronic drug delivery systems market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the electronic drug delivery systems market on a global and regional basis.
Electronic drug delivery systems (EDDS) are an important part of the innovation in the field of drug delivery systems. EDDS are interactive, portable, wirelessly connected, and enable patient-supervised therapy. These factors play a vital role in decreasing overall healthcare expenditures. EDDS has immense potential in the field of targeted drug delivery. By delivering optimum concentrations of doses to specific body parts, targeted drug delivery helps in reducing the dosage frequency of potentially harmful drugs.
Factors such as the growing incidence of target ailments, major advancements in the design of EDDS, increasing prevalence of chronic ailments, and positive reimbursement situation in developed regions will act as major driving factors in the growth of the global electronic drug delivery systems market. The application of EDDS in targeted drug delivery and increasing research and development initiatives will act as an opportunity for the market players in the electronic drug delivery systems market. Nonetheless, the high cost of electronic drug delivery systems, need for maintenance and lack of awareness in low income countries will restrict the growth of the global electronic drug delivery systems market.
The global electronic drug delivery systems market has been split into type, indication, and region. Based on type, the electronic drug delivery systems market has been segmented into electronic autoinjectors, electronic wearable infusion pumps, electronic inhalers, and electronic injection pens. The electronic wearable infusion pumps segment accounted for the highest market share in 2018 due to increasing diabetes incidence and growing accessibility of commercial infusion pumps. The indication segment has been segmented into multiple sclerosis, diabetes, asthma & COPD, cardiovascular disease, and other indications. The diabetes segment accounted for the highest market share in 2018 due to an increase in the number of diabetes cases around the world and the launch of new products.
North America will be the leading region during the forecast period. Quick uptake of new technologies, high prevalence of target disorders, easy availability of electronic drug delivery devices, and presence of leading market players will boost the market growth in this region. Europe will be the second largest market. The major reasons are the existence of skilled physicians, growth in awareness concerning the use of electronic drug delivery devices, high diabetes incidence, and favorable reimbursement setup. The Asia Pacific will proliferate at a speedy rate over the forecast period due to fast technological improvements in the healthcare sector and swelling cases of asthma and other respiratory ailments. The Latin American market will progress at a noteworthy rate during the estimated period. The Middle Eastern and African countries are expected to experience noticeable growth in the projected time-frame.
The report also includes detailed profiles of key players such as Medtronic plc, Insulet Corporation, Merck Group, Bayer AG, Novo Nordisk, AstraZeneca, United Therapeutics Corporation, Amgen, and Tandem Diabetes Care among others.
This report segments the Global Electronic Drug Delivery Systems Market as follows: