Press release
Electronic Drug Delivery Systems Market to Grow to $16.12 Billion by 2028, Driven by Personalized Medicine: Key Players Include Gerresheimer AG and Amgen Inc.
Electronic Drug Delivery Systems Market Report
The electronic drug delivery systems market size is expected to see strong growth in the next few years. It will grow to $16.12 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to increasing drug personalization, rising global healthcare expenditure, patient-centric healthcare approach, emergence of targeted therapies, supportive regulatory environment, advancements in remote patient monitoring. Major trends in the forecast period include incorporation of artificial intelligence (ai), biocompatible materials and implantable devices, customization for specific therapeutic areas, regulatory advancements and standardization, collaborations between pharma and tech companies.
Market Overview -
Electronic drug delivery systems refer to a type of device or formulation that can enable a medical substance to reach a selective region without reaching non-target cells and tissues. Electronic drug delivery systems are used to deliver a constant and regulated dose of drugs through easy monitoring of doses.
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Rising Prevalence Of Chronic Disease
The rising prevalence of chronic disease is expected to propel the growth of the electronic drug delivery systems market going forward. Chronic disease refers to a condition or disease that lasts for more than a year and requires ongoing medical treatment. Electronic drug delivery systems are used for regulating drug doses and make monitoring drug doses easy for people who suffer from chronic diseases. For instance, in January 2023, according to the National Library of Medicine, a US-based agency, the number of people in the US aged 50 and older who have at least 1 chronic condition would increase to 142.66 million by 2050. Therefore, the rising prevalence of chronic diseases will drive the electronic delivery system market.
Competitive Landscape -
Major companies operating in the electronic drug delivery systems market report are Gerresheimer AG, Amgen Inc., Medtronic plc, Novo Nordisk A/S, Insulet Corporation, Bayer AG, AstraZeneca plc, Tandem Diabetes Care, Merck KGaA, United Therapeutics Corporation, F. Hoffmann-La Roche AG, Elcam Medical, Sanofi S.A., Canè SpA, FindAir, Johnson & Johnson Services Inc., Antares Pharma Inc, Abbott Laboratories, Adherium Ltd., H&T Presspart Manufacturing Ltd., HCmed Innovations Co. Ltd., Amiko Digital Health Limited, CeQur Corporation, Teva Pharmaceutical Industries Ltd., GlaxoSmithKline PLC, Holozymes Inc., West Pharmaceutical Services Inc., Pfizer Inc., Novartis AG, BIOCORP
Technologically Advanced Eudratec Sets A Benchmark In The Electronic Drug Delivery Systems Market
Technologically advanced, minimally invasive drug delivery systems are a key trend in the electronic drug delivery system market. Major companies in the electronic drug delivery market are launching drug delivery systems that are innovative and technologically innovative to sustain their position in the electronic drug delivery systems market. For instance, in March 2022, Evonik Industries AG, a Germany-based specialty chemicals company, launched EUDRATEC SoluFlow, which is a new microparticle technology to enhance the solubility of active pharmaceutical ingredients in oral drug products. The new technology is one of the company's oral drug delivery technologies for treating diseases such as cancer, cardiovascular diseases, infectious diseases, and diabetes.
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Key Segments -
The electronic drug delivery systems market covered in this report is segmented -
1) By Type: Electronic Infusion Pumps, Electronic Injection Pens, Electronic Auto-Injectors, Electronic Inhalers, Electronic Capsules, Other Types
2) By Component: Sensors, Wireless Communicator And Antennas, Micro Pumps And Flow Regulators, Drug Reservoir, Microcontroller, Other Components
3) By System Type: Battery-Powered Systems, Rechargeable Systems
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
5) By Application: Diabetes, Cardiovascular Disease, Respiratory Disorders, Multiple Sclerosis, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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