The global electronic drug delivery systems market is expected to witness a CAGR of 8.9%, according to the new report by Grand View Research, Inc. The market is majorly driven by factors such as prevalence of diseases such as asthma, diabetes, and cardiovascular disease (CVDs) and other significant advances made in the medical technological for smart drug delivery systems development.
The ongoing market expansions and collaborations have been aimed at launching portable devices that facilitates convenient options for easy drug administration, improved patient adherence, dose accuracy, and short administration time. The launch minimally invasive drug delivery solutions have enabled patients suffering from chronic ailments to self-administer their medical intake and doses, thereby reducing their hospital visits and other healthcare costs.
Chronic conditions such as Parkinson’s disease and Multiple Sclerosis (MS) treatment procedures have witnessed extensive use of electronic drug delivery systems. Promising reimbursement policies is another leading cause for the demand in advanced treatment technology and is anticipated to propel the market growth over the projected timeframe.
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