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Driving Future Expansion: Chronic Disease Prevalence Fuels Growth of the Electronic Drug Delivery Systems Market || Gerresheimer AG, Amgen Inc., Medtronic PLC., Novo Nordisk A/S
Electronic Drug Delivery Systems Market
The Business Research Company's Electronic Drug Delivery Systems Global Market Report 2023 the rising prevalence of chronic disease the world as the major driver for the electronic drug delivery systems market's growth in the forecast period. 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, the National Center for Biotechnology Information, a US-based branch of the National Institutes of Health, published a research paper that said the number of U.S. citizens above the age of 50 with chronic diseases is supposed to increase by approximately 99.5% from 71.52 million in 2020 to 142.66 million by 2050.
The global electronic drug delivery systems market size is expected to grow from $9.74 billion in 2022 to $10.54 billion in 2023 at a compound annual growth rate (CAGR) of 8.24%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global electronic drug delivery systems market size is expected to reach $14.66 billion in 2027 at a CAGR of 8.59%.
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Major competitors in the electronic drug delivery systems market 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 and FindAir.
A key trend in the electronic drug delivery systems market includes technologically advanced, minimally invasive drug delivery systems. 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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The Electronic Drug Delivery Systems market is segmented -
• By Type: Electronic Infusion Pumps, Electronic Injection Pens, Electronic Auto-Injectors, Electronic Inhalers, Electronic Capsules, Other Types
• By Component: Sensors, Wireless Communicator And Antennas, Micro Pumps And Flow Regulators, Drug Reservoir, Microcontroller, Other Components
• By System Type: Battery-Powered Systems, Rechargeable Systems
• By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
• By Application: Diabetes, Cardiovascular Disease, Respiratory Disorders, Multiple Sclerosis, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Electronic Drug Delivery Systems market.
The Business Research Company's "Global Electronic Drug Delivery Systems Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Electronic Drug Delivery Systems Market Include:
1. Executive Summary
2. Electronic Drug Delivery Systems Market Characteristics
3. Electronic Drug Delivery Systems Market Trends And Strategies
4. Electronic Drug Delivery Systems Market - Macro Economic Scenario
5. Electronic Drug Delivery Systems Market Size And Growth
……………
27. Electronic Drug Delivery Systems Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Electronic Drug Delivery Systems Market
29. Electronic Drug Delivery Systems Market Future Outlook And Potential Analysis
30. Appendix
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