May 26, 2020   SOURCE: PR NewsWire

Electronic Drug Delivery Systems Market Size Worth $15.4 Billion by 2027: Grand View Research, Inc.

SAN FRANCISCO, May 26, 2020 /PRNewswire/ -- The global electronic drug delivery systems market size is expected to reach USD 15.4 billion by 2027 registering a CAGR of 8.9%, according to a new report by Grand View Research, Inc. Technological advancements allowing easy self-administration technologies, mainly in infusion pumps and auto injectors that help in large-volume and high-viscosity biologic drugs have created a potential market opportunity for the companies. Approvals of novel drug formulations for use in infusion pumps allow a novel treatment option, thereby advancing diabetes care in adults.

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Key suggestions from the report:

    --  North America accounted for the largest share in 2019 owing to high
        prevalence of chronic diseases, such as diabetes, heart diseases,
        asthma, and COPD
    --  Key companies are adopting several strategies, such as expansion of
        production facilities, to cater to the increasing product demand and
        thus gain a significant share in the global market
    --  By product type, the wearable infusion pump segment led the market as
        these pumps provide a cost-effective alternative with the convenience of
        a disposable injection pen and prefilled syringe
    --  By application, diabetes segment is expected to register the fastest
        CAGR due to rising number of diabetic patients across the globe and
        frequent drug administration required to manage the condition
    --  By distribution channel, retail pharmacies held the largest market share
        as they include major pharmacy chains

Read 138 page research report with ToC on "Electronic Drug Delivery Systems Market Size, Share & Trends Analysis Report by Product Type (Auto Injectors, Injection Pens), By Application (Diabetes, CVDs), By Distribution Channel, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/electronic-drug-delivery-systems-market

In October 2019, Novo Nordisk received the U.S. Food and Drug Administration approval for Fiasp, insulin injection for use in insulin pumps for patients with type 1 and 2 diabetes. Moreover, the innovative wearable infusion pumps allow the patients to wirelessly connect to smartphone apps. This enables healthcare professionals to track patient data and tailor specific therapies as per individual requirements. The aforementioned factors have augmented the demand for electronic drug delivery systems globally. However, automated pumps may have risks of wrong dosage with technical glitches and might lead to adverse drug reactions. This may hinder the market growth.

Grand View Research has segmented the global electronic drug delivery systems market based on product type, application, distribution channel, and region:

    --  Electronic Drug Delivery Systems Product Type Outlook (Revenue, USD
        Million, 2016 - 2027)
        --  Wearable Infusion Pumps
        --  Auto Injectors
        --  Injection Pens
        --  Inhalers
    --  Electronic Drug Delivery Systems Application Outlook (Revenue, USD
        Million, 2016 - 2027)
        --  Diabetes
        --  Cardiovascular Disease
        --  Respiratory Disorders
        --  Multiple Sclerosis
        --  Others
    --  Electronic Drug Delivery Systems Distribution Channel Outlook (Revenue,
        USD Million, (2016 - 2027)
        --  Hospital Pharmacies
        --  Retail Pharmacies
        --  Online Pharmacies
    --  Electronic Drug Delivery Systems Regional Outlook (Revenue, USD Million,
        2016 - 2027)
        --  North America
            --  U.S.
            --  Canada
        --  Europe
            --  U.K.
            --  Germany
            --  France
            --  Italy
            --  Spain
            --  Russia
        --  Asia Pacific
            --  Japan
            --  China
            --  India
            --  Thailand
            --  Malaysia
            --  South Korea
        --  Latin America
            --  Brazil
            --  Mexico
            --  Argentina
            --  Colombia
        --  Middle East & Africa
            --  South Africa
            --  Saudi Arabia
            --  UAE
            --  Qatar
    --  List of Key Players of Electronic Drug Delivery Systems Market
        --  Bayer AG
        --  Gerresheimer AG
        --  Medtronic PLC
        --  Elcam Medical Group
        --  Novo Nordisk
        --  Insulet Corp.
        --  Becton, Dickinson and Company
        --  Sanofi S.A.
        --  Unilife Corp.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.