Electronic Drug Delivery Systems Market By Type (Electronic Injection Pens, Electronic Wearable Infusion Pumps, Electronic Inhalers, and Electronic Autoinjectors), Indication (Cardiovascular Diseases, Diabetes, Multiple Sclerosis, and Asthma & COPD)- Global Analysis & Forecast 2020-2030
Report ID : 333 | Published Date : Jul 2020 | Pages : 170 | Region : Global | Report Code : MD-104
Electronic Drug Delivery Systems Market Overview and Introduction
A Drug Delivery System (DDS) is defined as a device designed to enable the introduction of a therapeutic substance into the body. DDS improves efficacy and safety by controlling the rate, time, and place of drug release in the body. Drug delivery has the potential to have a tremendous impact on the treatment of several diseases. The integration of computational tools with other technologies for targeted drug delivery has led to a new era of revolutionized drug delivery systems such as electronic drug delivery devices. Electronic Drug Delivery Systems (EDDS) benefits patients with more autonomy over drug regimens, caregivers, and medical professionals. EDDS also benefits health insurance organizations looking to keep costs down, and developers of pharmaceutical products interested in conducting better-managed clinical trials.
The global electronic drug delivery systems market is majorly driven by the growing prevalence of chronic diseases globally. According to the WHO, the burden of chronic diseases is expected to increase to 57% by 2020. Almost half of the total deaths are caused by chronic ailments such as cardiovascular diseases, obesity, and diabetes. Also, as per the International Diabetes Federation, in 2019, approximately 463 million adults were living with diabetes and by 2045 this number will rise to 700 million owing to the changing lifestyle of people, giving rise to an increase in the demand for advanced treatment technology. Promising reimbursement policies for electronic drug delivery procedures are leading to an increase in the number of patients opting for such procedures. These factors are anticipated to propel market growth during the forecast period. However, the high cost of electronic drug delivery systems may hinder market growth to a certain extent.
The global electronic drug delivery systems market has been segmented into the following categories – type and indication.
Electronic Drug Delivery Systems Market By Type
Based on type, the market can be segmented into electronic injection pens, electronic wearable infusion pumps, electronic inhalers, and electronic autoinjectors. The electronic wearable infusion pumps segment will dominate the market during the forecast period owing to an increase in the prevalence of people suffering from diabetes and the wider availability of electronic wearable infusion pumps for diabetes treatment, boosting market growth.
Electronic Drug Delivery Systems Market By Indication
Based on Indication, the market can be segmented into cardiovascular disease, diabetes, multiple sclerosis, asthma & COPD, and others. The diabetes segment accounted for the largest market share owing to the shooting numbers of people living with diabetes, and the major players investing heavily in the development of the electronic wearable infusion pumps, which are further propelling market growth.
Electronic Drug Delivery Systems Market By Region
Based on the region, the global Electronic Drug Delivery Systems market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the market owing to the rising prevalence of chronic diseases owing to lifestyle disorders along with a strong presence of leading market players. Moreover, a well-established healthcare infrastructure along with the rising adoption of technological advancements will further contribute to the overall market growth in this region.
Electronic Drug Delivery Systems Market Prominent Players
Some of the key players operating in the global electronic drug delivery systems market include Merck KGaA, Medtronic, F. Hoffmann-La Roche Ltd, United Therapeutics Corporation, Insulet Corporation., Bayer AG, Novo Nordisk A/S, Amgen Inc., Companion Medical, Tandem Diabetes Care, Inc., and others.