Electronic Drug Delivery Systems Market Insights
The global electronic drug delivery systems market is estimated to witness a high CAGR during the forecast period (2019-2026). Growing demand for biologics and rising investments in advanced R&D activities are some of the major factors driving the market for electronic drug delivery systems. Insulin pump is the most widely used and accounts for the largest market share of the electronic drug delivery system. Advanced drugs and biologics have a higher efficacy with a lower dose of the drug and must, therefore, be supported by advanced drug delivery systems in order to achieve the maximum effectiveness of the drug. Growing prevalence of diseases and technological advancements & designs are driving the market during the forecast period. However, stringent norms by the government and alternative drug delivery modes are likely to hamper the market growth during the forecast period.
Electronic Drug Delivery Systems Market: By Type
On the basis of type, the market is segmented into electronic wearable infusion pumps, electronic autoinjectors, electronic injection pens, and electronic inhalers. The electronic wearable infusion pumps segment is expected to grow at the highest in terms of both market share and CAGR during the forecast period. However, the high cost of electronic drug delivery devices, the high acceptance of traditional devices and the lack of reimbursement for electronic drug delivery devices in developing countries may reduce the growth of this segment. The increasing availability of medical infusion pumps for the treatment of diabetes is also expected to grow between 2019 and 2026. Electronic inhalers is estimated to provide an opportunity for the electronic drug delivery systems to occupy largest market share in 2018.
Electronic Drug Delivery Systems Market: By Indication
On the basis of indication, the market is segmented into diabetes, asthma & copd, multiple sclerosis, and cardiovascular diseases among others. Diabetes segment is expected to hold the largest market share during the forecast period. Also, according to data published by International Diabetes Federation in 2017, around 425 million people across the world suffer from diabetes.
Electronic Drug Delivery Systems Market: By Region
On the basis of region, the market for Electronic Drug Delivery Systems is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America. North America is expected to witness considerable growth in the electronic drug delivery systems market during the forecast period. Growing adoption of electronic drug delivery systems and advancements in pharmacy in the region is propelling the market growth. The Asia Pacific region is expected to grow at a high CAGR during the forecast period. Growing development of the pharmaceutical industry in emerging countries including China, India, Japan, South Korea, and Singapore among others is propelling the market growth during the forecast period.
Electronic Drug Delivery Systems Market: End Use Landscape
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase. The key end-users of the markets are Mayo Clinic, Experian, and Quest Diagnostics, among others.
Electronic Drug Delivery Systems Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Company Market Share & Competitor Analysis
Some of the key players operating in the market are Medtronic plc, Novo Nordisk, Insulet Corporation, Bayer AG, United Therapeutics Corporation, AstraZeneca, Tandem Diabetes Care, Merck Group, Amgen, F. Hoffmann-La Roche, Companion Medical, FindAir SP. Z O. O., ViCentra B.V., Canè SPA, and Debiotech S.A. among others.
In October 2019, Medtronic PLC signed an agreement to acquire AV Medical Technologies for USD 30 million. The company is engaged in operating medical devices.
In August 2019, Bayer AG announced the successful acquisition of BlueRock Therapeutics for USD 1 billion. The company is engaged in regenerating medicine.
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