Global Electronic Drug Delivery Systems Market by Application (Diabetes, CVDs), by Product Type (Injection Pens, Auto Injectors) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global electronic drug delivery system market was valued at USD 7.8 Billion in 2019. It is expected to grow at an 8.9% compound annual growth rate (CAGR), between 2020 and 2027. Major factors driving this market are the increasing prevalence of chronic diseases such as asthma, diabetes, and cardiovascular disease (CVDs) and technological advances in the development smart drug delivery system. Patients can now have convenient options such as electronic drug delivery systems that are portable and offer conveniences like easy drug administration, accurate dose, quick administration times, and better patient compliance. Patients with chronic diseases can now self-administer their medication using minimally invasive technology. This has reduced hospital visits and associated costs.

Pharmapack awarded Safe'n'Spray, a Nemera's electronic nasal spray device, the Best Innovation Award in February 2020. It has features such as the ability to prevent overdosing of potent drugs, and fingerprint identification that allows for child-resistance. However, the majority of these devices are not currently available for purchase. This limits its potential customers. This could have a moderate restraining effect on market growth in developing countries that have price sensitive customers.

Market players have a huge opportunity to increase their market share by improving medication adherence. More than half of chronic disease patients stop taking their medications within one year. Connected drug delivery systems can facilitate treatment programs, lower healthcare costs, and offer favorable reimbursement, as they are primarily focused on outcomes-based models.

Biopharma companies have many options to increase patient adherence and generate significant revenue. The International Diabetes Federation (IDF) predicts that the number of diabetes-diagnosed patients will rise from 463 million in 2019 up to 700 million by 2045. According to the IDF, 374 million people are at risk of developing type 2.

According to the World Health Organization's (WHO), CVDs were the leading cause for death in 2017, with 17.9 million deaths worldwide due to the disease. The market for electronic drug delivery systems is expected to grow rapidly due to the availability of high-quality products and increased awareness.

Insight on Product Type

In 2019, wearable infusion pumps held the largest market share at 41%. This segment will continue to hold its position as the market leader for the entire forecast period, due to diabetes management pumps being widely used. The segment of injection pen is expected to grow at the fastest rate between 2020 and 20274. Market share will increase due to the approval of injection pens for diabetes treatment. This segment offers a convenient and portable option.

Bigfoot Biomedical was awarded a grant of USD 45 million in January 2020 to conduct clinical trials on its insulin management product, a connected insulin pen. To access Abbott's FreeStyle Libre glucose sensing technology, Bigfoot Biomedical has partnered with Abbott Laboratories.

Distribution Channel Insight

In 2019, the largest segment was retail pharmacies, accounting for 45.8% of the market. This is due to factors such as patient awareness and a focus on positive medical outcomes.

The fastest CAGR is expected to be in the online pharmacy segment between 2020 and 2027, due to the various discounts offered by developers through bulk purchases of essential drug delivery devices. Cost-effectiveness is also important as medications must be administered frequently, which can provide an economic option for patients in developing countries.

Application Insight

In 2019, the diabetes segment held the largest market share at over 35% and will continue to dominate the future. This is due to factors such as increasing adoption of smartphone apps, easy access to insulin pumps and injection pen by major market players in type 1 and 2, and increased penetration of digital platforms that enable better patient outcomes.

The U.S. FDA approved Insulet Corporation's Omnipod DASH Insulin Management System in June 2018. Tandem Diabetes Care was granted FDA approval in February 2019 for the t: slimX2 insulin pump, which has interoperable technology that can be used for both children and adults.

Regional Insights

North America was the dominant market in 2019, accounting for 44.2% of the total market. This is due to its extensive use of electronic drugs delivery systems for chronic conditions such as Multiple Sclerosis (MS), and Parkinson's disease.

The National Multiple Sclerosis Society has found that approximately 913,925 Americans have multiple sclerosis. According to the MS Discovery Forum, around 200 new cases of MS are being diagnosed each week in the United States.

Major manufacturers are committed to developing new solutions for patients with chronic diseases. Unilife Corporation, an American injectable drug delivery firm, launched Imperium in 2015. It is a prefilled insulin pump that can be worn as a patch for insulin.

The Asia Pacific region market will experience the fastest CAGR during the forecast period. This is due to the rising number of diabetic patients and high demand for high-quality healthcare services. The International Diabetes Federation estimates that 60% of diabetes patients are located in Asia, including India and China. The IDF also states that the Western Pacific region (which includes majorly China and Japan, Australia, Malaysia, Indonesia, and Malaysia) is one of the most populous in the world. The region is home to around 138.2 millions people living with diabetes. This number is expected to rise to 201.8 million in 2035.

Market Share Insights & Key Companies

To maintain their market share, market players use a variety of strategies to keep their market share: new product launches, co-development collaborations and product innovation. Novo Nordisk, for example, announced in October 2018 the global launch the connected insulin pens NovoPen 6 (and NovoPen Echo Plus) Flex Digital Health also signed a deal for the use of Flex's BrightInsight platform. This platform allows for innovation that improves patient outcomes. The market leader in electronic drug delivery systems is:

• Bayer AG

• Gerresheimer AG

• Medtronic PLC

• Elcam Medical Group

• Novo Nordisk

• Insulet Corp.

• Becton, Dickinson and Company

• Sanofi S.A.

• Unilife Corp.

Up Market Research published a new report titled “Electronic Drug Delivery Systems Market research report which is segmented by Application (Diabetes, CVDs), by Product Type (Injection Pens, Auto Injectors), By Players/Companies Bayer AG, Becton Dickinson and Company, Gerresheimer AG, Insulet Corp, Unilife Corp, Novo Nordisk, Medtronic PLC, Sanofi SA, Elcam Medical Group”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Electronic Drug Delivery Systems Market Report Segments:

The market is segmented by Application (Diabetes, CVDs), by Product Type (Injection Pens, Auto Injectors).

Electronic Drug Delivery Systems Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Electronic Drug Delivery Systems Market

Overview of the regional outlook of the Electronic Drug Delivery Systems Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Electronic Drug Delivery Systems Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Electronic Drug Delivery Systems Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Diabetes

                2. CVDs

                1. Injection Pens

                2. Auto Injectors

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Electronic Drug Delivery Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Electronic Drug Delivery Systems Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.