Global Electronic Drug Delivery Systems Market accounted for over US$ 7.6 billion in 2019. It is anticipated to grow at a CAGR of 8.5% from 2020 to 2030
New York, NY -- (SBWIRE) -- 05/04/2020 -- Market Industry Reports (MIR) has published a new report titled "Electronic Drug Delivery Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030." According to the report, the Global Electronic Drug Delivery Systems Market accounted for over US$ 7.6 billion in 2019. It is anticipated to grow at a CAGR of 8.5% from 2020 to 2030.
The success of the therapy and improvements in the condition of patients are dependent on the formulation of dosage form and the exact delivery of the drug to the desired organ. Electronic Drug Delivery Systems (EDDS) is an important innovation in the field of drug delivery systems as it combines controlled drug release, patient monitoring, and real-time wireless communication. It comprises of medical devices, which are used to infuse drugs, growth hormones, and medicines of the desired quantity in patients. These systems enable patients to administer the therapy and make patients independent of caregivers, drug regimens, and medical professionals, thus reducing the overall healthcare expenditure.
Major Players are:
Some of the prominent players 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.
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The growth of electronic drug delivery systems can be primarily attributed to factors, such as the increasing number of chronic diseases and a rise in the demand for technologically advanced treatment options. As per the U.S. Department of Health & Human Services, six in ten Americans live with at least one chronic disease - heart disease, cancer, or diabetes. Technological advancements in 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 & time effectiveness, autonomous patient-administered therapy, and minimum side effects. This leads to an increased demand for electronic drug delivery systems. Moreover, the development and modernization of healthcare facilities are supporting market growth.
Other factors, such as supportive government policies and improvised reimbursement Mediclaim policies, are expected to provide lucrative growth opportunities for the market. Moreover, investments in R&D by major biopharmaceutical companies for advancements in technologies will also boost market growth.
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Most important types of Electronic Drug Delivery Systems Market products covered in this report are:
Electronic Injection Pens,
Electronic Wearable Infusion Pumps,
and Electronic Autoinjectors
Most important Application of Electronic Drug Delivery Systems Market products covered in this report are:
and Asthma & COPD
Table of Contents
Years Considered for the Study: Historical Years - 2016 & 2017; Base Year - 2018; Forecast Years - 2019 to 2030
Data Collection Technique
Market Estimation Methodology
Bottom Up Approach
Top Down Approach
Data Validation and Triangulation
Market Forecast Model
Limitations/Assumptions of the Study
ABSTRACT OF THE STUDY
MARKET DYNAMICS ASSESSMENT
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