Increase in patient preference for advanced drug delivery systems, growth in prevalence of chronic diseases, and advancements in smart drug delivery systems

WILMINGTON, DOWNTOWN, UNITED STATES, October 28, 2023 /EINPresswire.com/ -- The global Smart Drug Delivery Systems market is poised for significant growth from 2022 to 2031, driven by the increasing demand for precise and efficient drug delivery methods. These systems are revolutionizing healthcare by enhancing patient compliance, reducing side effects, and improving the overall efficacy of drug therapies. This article delves into the key aspects of the Smart Drug Delivery Systems market, including its overview, market size, growth prospects, segmentation, regional analysis, drivers, challenges, trends, and future outlook.

The global Smart Drug Delivery Systems market is estimated to attain a valuation of US$ 36 Billion by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 15.2% during the forecast period, 2022-2031.

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Market Overview:

Smart Drug Delivery Systems are a range of technologies and devices designed to administer drugs in a more targeted and controlled manner. These systems incorporate sensors, connectivity, and data analytics to optimize drug delivery. They are particularly advantageous for chronic disease management, personalized medicine, and improving patient adherence to treatment regimens.

Market Trends:

Wearable Drug Delivery Devices: The rise of wearable devices that provide continuous drug administration and monitoring is a significant trend in the market.

Data Integration: Integration with healthcare data systems and electronic health records for real-time monitoring and treatment adjustments.

Personalized Medicine: The growing trend towards personalized medicine is driving the development of tailor-made drug delivery solutions.

Companies Profiled:

Abbott Laboratories, Adherium Ltd., Amiko Digital Health Limited, Becton, Dickinson and Company, BIOCORP, CeQur Corporation, Cognita Labs, E3D Elcam Drug Delivery Devices, H&T Presspart Manufacturing Ltd., HCmed Innovations Co., Ltd., Medtronic plc, Novo Nordisk A/S, Phillips-Medisize, and Sonceboz

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Market Segmentation:

Product

Connected Inhalers
Connected Autoinjectors
Connected Pen Injectors
Connected Wearable Injectors
Add-on Sensors
Others

Drug Delivery Mode

Injectable
Inhalation
Oral

Therapeutic Area

Metabolic Disorders
Neurological Disorders
Respiratory Disorders
Hormonal Disorders
Others

Regions Covered:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Market Drivers and Challenges:

Drivers:

Growing Chronic Disease Burden: The increasing prevalence of chronic diseases such as diabetes, cancer, and cardiovascular disorders is a key driver of smart drug delivery systems, which can improve treatment outcomes.

Patient-Centric Healthcare: Smart drug delivery systems enhance patient compliance and engagement by providing personalized treatment plans and remote monitoring.

Technological Advancements: Advances in sensor technology, connectivity, and data analytics are facilitating the development of more precise and effective drug delivery systems.

Key Market Study Points:

Regulatory landscape and its impact on market entry and growth.
Competitive pricing strategies and market positioning.
Consumer preferences and the role of telehealth in the adoption of smart drug delivery systems.
Investment opportunities in emerging markets and disruptive technologies.

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Nikhil Sawlani
Transparency Market Research Inc.
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