The global electronic drug delivery systems market was valued at USD 6,965.3 million in 2018. Increase in prevalence of target diseases including diabetes, asthma, chronic obstructive pulmonary disorder (COPD), and cardiovascular diseases coupled with rapid technological advancements in drug delivery devices are key factors driving the global electronic drug delivery systems market.
Electronically enabled, wirelessly connected, smart drug delivery devices are well suited to home care settings. However, these smart drug delivery systems offer valuable advantages within hospitals and other clinical settings. The electronic drug delivery systems are rapidly used for management of chronic ailments including diabetes, cardiovascular diseases, respiratory disorders and other applications. Wearable infusion pumps, electronic autoinjectors, injectable insulin pens and electronic inhalers are some of the electronic drug delivery systems available in the market. Rapidly growing elderly patient pool aged 60 years and above, sedentary lifestyle, and obesity are major factors attributable to high risk of these diseases. These factors are expected to drive the global electronic drug delivery systems market in the next few years.
The global Electronic Drug Delivery Systems market size is expected to reach close to USD 17.13 Billion by 2029 with an annualized growth rate of 7.79 % through the projected period.
Moreover, rapid rise in technological advancements in drug delivery systems across the globe is expected to accelerate the growth of electronic drug delivery systems market in the future. For instance, launch of connected autoinjectors for management of diabetes is expected to drive market growth. However, availability of alternative modes of drug delivery is expected to hinder the growth of the market over the forecast period.
The global electronic drug delivery systems market is categorized based on product type and application. Based on product type, electronic wearable infusion pumps segment held the largest share of the market in 2018. By application, the global electronic drug delivery systems market is categorized into multiple sclerosis, diabetes, cardiovascular diseases, asthma & COPD, and other applications. Diabetes segment grabbed majority of the share of the global electronic drug delivery systems market in 2018. Geographically, North America dominated the global electronic drug delivery systems market in 2018, however, Asia Pacific is expected to be the fastest growing region by 2025.
Key players operating in the global electronic drug delivery systems market include Insulet Corporation, Medtronic plc, Merck Group, United Therapeutics Corporation, Novo Nordisk, Bayer AG, AstraZeneca, Amgen, Tandem Diabetes Care, and Phillips-Medisize among others.
Electronic Drug Delivery Systems Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||USD 17.13 Billion|
|Growth Rate||CAGR of 7.79 % during 2022-2030|
|Segment Covered||By Type, By Indication, Region.|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Gerresheimer AG, Amgen, Novo Nordisk, Bayer AG, Medtronic plc, Insulet Corporation, AstraZeneca, Tandem Diabetes Care, Merck Group, and United Therapeutics Corporation.|
Key Segment Of The Electronic Drug Delivery Systems Market
By Type, 2022-2031 (USD Million)
• Wearable Infusion Pumps
• Injection Pens
By Indication, 2022-2031 (USD Million)
• Multiple Sclerosis
• Cardiovascular Disease
Regional Overview, 2022-2031 (USD Million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
Patient compliance to prescribed medication dosage is significant in the treatment of chronic disorders. However, poor patient compliance is creating huge healthcare burden. For instance, the cost of non-compliance in the U.S. ranges from USD 100 to USD 290 billion per year. This drives the demand for development of advanced, smart drug delivery systems that helps to improve patient adherence. Electronic drug delivery systems are gaining popularity for drug delivery as these systems are small, portable, and wirelessly-connected and allow patient-administered therapy thereby improving outcomes and reducing costs. Rapid rise in target chronic ailments such as cardiovascular diseases, respiratory disorders, multiple sclerosis, and diabetes will lead to increased demand for effective drug delivery systems. Moreover, major industry players are also investing in R&D to develop technologically advanced drug delivery systems. For instance, Enable Injections is an investigational-stage company focused on manufacturing on-body infusion delivery systems. The firm has launched enFuse drug delivery platform for delivery of high-viscosity, large-volume pharmaceutical therapeutics. This novel technology can be used at home care settings leading to increased patient adherence, and improved patient experience. In the coming few years, electronic drug delivery system will be a promising mode for the controlled drug release at the desired target sites.
The global electronic drug delivery systems market has been segmented based on product type, application, and region. Based on product type, the global electronic drug delivery systems market is categorized into electronic wearable infusion pumps, electronic autoinjectors, electronic injection pens, and electronic inhalers. Electronic wearable infusion pumps segment held substantial share of the global market in 2018. Application-wise, the global electronic drug delivery systems market is segmented into diabetes, multiple sclerosis, asthma & COPD, and cardiovascular diseases. Diabetes held majority of the market share in 2018. Rapid increase in prevalence of diabetes across the globe is expected to drive the growth of the segment in the coming years. For instance, according to International Diabetes Federation (IDF), 463 million people were living with diabetes in 2019 and this number is expected to reach 700 million by 2045. Increasing urbanization leading to sedentary lifestyles, greater consumption of unhealthy food and rapidly growing elderly patient pool are major factors attributable for its high prevalence. Moreover, availability of smart insulin pens and wearable infusion pumps for diabetes is expected to boost growth of the market in the next few years.
The global electronic drug delivery systems market is cumulative to North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the global electronic drug delivery systems market in 2018, however Asia Pacific is expected to grow at a highest pace through 2025.
Increase in prevalence of target diseases such as diabetes, asthma, COPD, cardiovascular diseases and multiple sclerosis is a major factor expected to drive the electronic drug delivery systems market in the region. According to International Diabetes Federation (IDF), North America had the highest prevalence of 12.3% for impaired glucose intolerance in 2019. Moreover, approximately 48 million individuals in the region were living with diabetes in 2019 and this is expected to reach 63 million by 2045, witnessing a rise of over 33% by 2045. Presence of such large patient population will increase the demand for advanced drug delivery systems in the future. Furthermore, launch of technologically advanced electronic drug delivery systems by key industry players and favorable reimbursement policies are other major factors likely to boost the growth of the market in North America.
However, Asia Pacific is expected to grow at a rapid pace over the next few years. There is a strong growth potential in the emerging economies such as India, and China. The rapidly rising geriatric population along with increase in prevalence of diabetes in countries such as India and China provide large market for electronic drug delivery systems. According to International Diabetes Federation, there were 116.4 million people living with diabetes in China in 2019. Presence of high unmet medical needs along with surge in incidence of cardiovascular and respiratory diseases in the developing countries, divert the focus of market players to serve the untapped population in these emerging economies.