Electronic Drug Delivery Systems Market: Introduction
Electronic drug delivery systems are medical devices used to infuse drugs, growth hormones, and medicines of desired quantity in patients
Electronic drug delivery systems allow patients administered therapy and make patients independent on caregivers, drug regimens, and medical professionals
Drug delivery systems feature complex but small electronics, precise and desired functionality, wireless connectivity, and user-friendly intuitive interfaces
Technological advancements in the drug delivery devices have led to the development of electronic drug delivery devices, which provide several advantages over conventional drug delivery devices such as improved efficacy, cost and time effectiveness, autonomous patient administered therapy, and minimum side effects
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Electronic Drug Delivery Systems Market: Key Drivers
The global electronic drug delivery systems market is primarily driven by technological advancements and new product launches across the globe. Several advantages offered by electronic drug delivery systems over conventional drug delivery methods led by technological advancements are likely to propel the growth of the global market during the forecast period. For instance, the development of electronic automated inhalers provide optimized solution for patients having pulmonary disorders and cognitive disabilities. This improves the overall efficiency and effectiveness of inhalers. Some of the other examples include electronic IV pumps and syringe pumps, a data centered insulin pen, ingestible electronic drug delivery and monitoring system, and wearable electronic drug delivery systems.
High prevalence and rise in incidence rats of various chronic disorders requiring long-term care, such as chronic obstructive pulmonary disorders (COPD), diabetes, cardiovascular disorders, neurological disorders etc., are projected to drive the global electronic drug delivery devices market during the forecast period
Electronic Wearable Infusion Pump Segment to Offer Attractive Opportunities
Based on product type, the global electronic drug delivery systems market can be divided into electronic infusion & syringe pump, wearable infusion pump, electronic autoinjectors, electronic inhalers, and others. The electronic infusion & syringe pump segment is projected to dominate the global electronic drug delivery systems market during the forecast period.
The electronic wearable infusion pump segment is anticipated to grow at a rapid rate during the forecast period due to increasing demand for wearable insulin infusion pumps by a large number of diabetes patients across the globe
Diabetes Segment to Dominate Global Market
Based on application, the global electronic drug delivery systems market can be divided into diabetes, asthma & chronic pulmonary disorders, cardiovascular disorders, multiple sclerosis, critically ill patients, and others. The diabetes segment is anticipated to dominate the global market during the forecast period.
High prevalence of diabetes across the globe, significant rise in adoption of wearable insulin pumps and electronic insulin pens, etc., are likely to fuel the growth of the segment during the forecast period
Asia Pacific Electronic Drug Delivery Systems Market to Expand Rapidly
In terms of region, the global electronic drug delivery systems market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to lead the global market during the forecast period. However, the region is anticipated to lose market share by the end of 2027.
Early adoption of technologically advanced products, rise in demand for self-administration therapy, and high prevalence of chronic disorders requiring long-term management are factors that are likely to contribute to the dominant share of North America
Europe is projected to be the second largest market for electronic drug delivery systems by the end of 2027
Electronic drug delivery systems market in Asia Pacific is estimated to expand at a high CAGR during the forecast period, owing to rapid increase in the number of patients with diabetes, COPD, and cardiovascular disorders in densely populated countries, such as India, China, and South Korea, and rapidly improving health care infrastructure in the region
Key Players Operating in Global Market
The global electronic drug delivery systems market is highly consolidated with a few global players accounting for majority of the market share in respective regions. Key players operating in the global electronic drug delivery systems market include:
