Factors such as the growing prevalence of target diseases, the favorable reimbursement scenario in major markets, and advancements in technologies & designs of electronic drug delivery systems are driving the growth of the electronic drug delivery systems market during the forecast period. However, emerging economies such as China, India, Russia, and Brazil offer significant growth opportunities for players in the electronic drug delivery market.
The report Electronic Drug Delivery Systems Market is projected
to grow at a CAGR of 8.7% during the forecast period to reach USD 11.9 billion
by 2024 from USD 7.8 billion in 2019.
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The electronic wearable infusion pumps segment accounted for the
largest share of the electronic drug delivery systems market in 2018. This is
primarily due to the rising prevalence of diabetes and the increasing
availability of commercial infusion pumps for diabetes treatment. However, the
high cost of electronic drug delivery devices, high acceptance of conventional
devices, and lack of reimbursement for electronic drug delivery devices in
developing countries could restrain the growth of this segment.
The diabetes segment accounted for the largest share in 2018.
This is primarily due to the high prevalence of diabetes across the globe and
the greater availability of electronic drug delivery devices, such as insulin
pumps and injection pens, for diabetes in comparison to other therapeutic
areas. For instance, according to the International Diabetes Federation, in
2017, almost 425 million people were suffering from diabetes worldwide; this is
expected to increase to 629 million by 2045.
In 2018, North America dominated the electronic drug delivery
systems market, followed by Europe. High burden of target diseases, favorable
reimbursement scenario, and the presence of major market players in this region
are the factors propelling the growth of the market. For instance, in April
2018, AstraZeneca (UK) received OTC clearance for its SmartTouch for Symbicort
(an electronic inhaler) and launched this product in the US market. Similarly,
in December 2017, Companion Medical (US), launched InPen (an electronic
injection pen) in the US.
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Top Key Players:-
The prominent players in the electronic drug delivery systems
market are Insulet Corporation (US), Bayer AG (Germany), Medtronic (Ireland),
Novo Nordisk A/S (Denmark), Companion Medical (US), F.Hoffmann-La Roche Ltd
(Switzerland), United Therapeutics Corporation (US), AstraZeneca (UK), Tandem
Diabetes Care (US), Merck Group (Germany), and Amgen (US).
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