New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Electronic Drug Delivery Systems Global Market Report 2023" - https://www.reportlinker.com/p06486501/?utm_source=GNW
Hoffmann-La Roche AG, Elcam Medical, Sanofi S.A., Canè SpA and FindAir.
The global electronic drug delivery systems market 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 electronic drug delivery systems market is expected to reach $14.66 billion in 2027 at a CAGR of 8.59%.
The electronic drug delivery systems market consists of sales of nasal sprays, eyedroppers, and intrauterine devices.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Electronic drug delivery systems refer to a type of device or formulation that can enable a medical substance to reach a selective region without reaching non-target cells and tissues. Electronic drug delivery systems are used to deliver a constant and regulated dose of drugs through easy monitoring of doses.
North America was the largest region in the electronic drug delivery systems market in 2022.Asia-pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of electronic drug delivery systems are electronic infusion pumps, electronic injection pens, electronic auto-injectors, electronic inhalers, electronic capsules, and other types.Electronic infusion pumps refer to a type of medical device that can deliver fluids into a patient’s body in controlled amounts.
Electronic infusion pumps are used in healthcare settings such as hospitals and nursing homes to deliver fluids such as nutrients and medications into a patient’s body.The various components of electronic drug delivery systems are sensors, wireless communicators and antennas, micro-pumps and flow regulators, drug reservoirs, microcontrollers, and other components that are available in battery-powered systems and rechargeable systems.
The electronic drug delivery systems are distributed through hospital pharmacies, retail pharmacies, and online pharmacies that are suitable for the treatment of diabetes, cardiovascular disease, respiratory disorders, multiple sclerosis, and other diseases.
The rising prevalence of chronic disease is expected to propel the growth of the electronic drug delivery systems market going forward.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. Therefore, the rising prevalence of chronic diseases will drive the electronic delivery system market.
Technologically advanced, minimally invasive drug delivery systems are a key trend in the electronic drug delivery system market.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.
In March 2022, Sandoz, a Switzerland-based pharmaceutical company, acquired Coalesce Product Development Limited for an undisclosed amount.The acquisition will provide Sandoz with the capabilities of Coalesce, which will help the company improve its existing portfolio of respiratory medicines and high-quality, complex therapies.
Coalesce Product Development Limited is a UK-based medical and drug delivery device development company.
The countries covered in the electronic drug delivery systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The electronic drug delivery systems market research report is one of a series of new reports that provides electronic drug delivery systems market statistics, including electronic drug delivery systems industry global market size, regional shares, competitors with an electronic drug delivery systems market share, detailed electronic drug delivery systems market segments, market trends and opportunities, and any further data you may need to thrive in the electronic drug delivery systems industry. This electronic drug delivery systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06486501/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
