The smart drug delivery systems market size is expected to see rapid growth in the next few years. It will grow to $25.94 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%. The growth in the forecast period can be attributed to growing burden of non-communicable diseases, increased focus on precision medicine, the rise of theragnostic, growing demand for non-invasive drug delivery methods, and increasing healthcare expenditure. Major trends in the forecast period include miniaturization and microfabrication technologies, advancements in material science, integration of artificial intelligence (AI) and machine learning (ML), development of nano-sized drug delivery systems, and integration of IoT and wearable technology.
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Scope Of Smart Drug Delivery Systems Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Smart Drug Delivery Systems Market Overview
Market Drivers –
The rising prevalence of chronic diseases is expected to propel the growth of the smart drug delivery systems market going forward. Chronic diseases are long-term health conditions that progress slowly over time and often have complex causes. The prevalence of chronic diseases is increasing due to aging populations, environmental influences, and disparities in healthcare access. Smart drug delivery systems offer a promising approach to managing chronic diseases by enhancing medication effectiveness and increasing patient adherence. For instance, in January 2023, according to the National Library of Medicine, the US-based medical library, by 2050, there will be 142.66 million people with at least one chronic illness, a 99.5% rise from 71.522 million in 2020. Therefore, the rising prevalence of chronic diseases is driving the smart drug delivery systems market.
Market Trends –
Major companies operating in the smart grid communications market are focused on developing advanced products, such as powerline communication devices, to support expanding industry needs and drive their revenues in the market. Powerline communication devices refer to devices that use the existing electrical wiring to transmit data, voice, and video signals. For instance, in May 2022, Qualcomm Technologies Inc., a US-based developer of wireless telecommunication solutions, launched the QCA7006AQ, a next-generation powerline communication device designed to seamlessly integrate with smart grid communications, particularly in the context of electric vehicle (EV) charging stations. The QCA7006AQ supports vehicle-to-grid (V2G) systems and allows for optimal charging times while minimizing peak-load power generation and delivery. This coordination ensures efficient energy management and helps balance energy demand on the grid. Smart-grid charging applications supported by the CCS (Combined Charging System) standard allow customers to choose optimal charging periods and draw energy from their EVs as needed, thereby meeting the increased demand for EV charging while reducing peak load power generation and distribution requirements. The QCA7006AQ offers firmware that enables optional HomePlug AV support in addition to HomePlug GreenPHY, providing a 200 Mbps PHY rate and 95 Mbps UDP throughput over Ethernet.
The smart drug delivery systems market covered in this report is segmented –
1) By Product: Connected Inhalers, Connected Autoinjectors, Connected Pen Injectors, Connected Wearable Injectors, Add-On Sensors, Other Products
2) By Therapeutic Area: Metabolic Disorders, Neurological Disorders, Respiratory Disorders, Hormonal Disorders, Other Therapeutic Areas
3) By Drug Delivery Mode: Injectable, Inhalation, Oral
4) By End-User: Hospitals, Clinics, Home Care, Ambulatory Care Settings, Other End-Users
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Regional Insights –
North America was the largest region in the smart drug delivery systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart drug delivery systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the smart drug delivery systems market are Pfizer Inc, Johnson & Johnson, Bayer AG, Abbott Laboratories, Novartis International AG, Medtronic plc, Eli Lilly and Company, Amgen Inc, Novo Nordisk, Merck Group, Becton Dickinson and Company, Stryker Corporation, Baxter International Inc, Boston Scientific Corporation, Biogen Inc, Vertex Pharmaceuticals Incorporated, Phillips-Medisize Corporation, ResMed Inc., West Pharmaceutical Services Inc, Insulet Corporation, Owen Mumford Ltd, Sonceboz, H&T Presspart Manufacturing Ltd, E3D Elcam Drug Delivery Devices, CeQur Corporation
Table of Contents
1. Executive Summary
2. Smart Drug Delivery Systems Market Report Structure
3. Smart Drug Delivery Systems Market Trends And Strategies
4. Smart Drug Delivery Systems Market – Macro Economic Scenario
5. Smart Drug Delivery Systems Market Size And Growth
…..
27. Smart Drug Delivery Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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