Le Lézard
Classified in: Health
Subject: SVY

Drug Delivery Devices Offering Enhanced Connectivity to Find Higher Uptake Among Hospitals

Vendors that provide services instead of just being a supplier of devices to enjoy greater growth opportunities, finds Frost & Sullivan

SANTA CLARA, Calif., Oct. 21, 2019 /PRNewswire/ -- The rise of targeted therapy and drug compounds is prompting the development of novel drug delivery approaches such as nano gel and transdermal patches. Although intravenous (IV) infusion continues to dominate the market, subcutaneous, intradermal, and intramuscular modes will gain significant traction in five to eight years, when approximately 30 to 35 new products will be launched. Digital transformation will especially play a role in driving the $88.2 billion market in 2018 toward a $125 billion market by 2023, at a compound annual growth rate of approximately 7.2%.

Drug Delivery Devices Offering Enhanced Connectivity to Find Higher Uptake Among Hospitals

"With the availability of multiple home care devices, drug delivery device makers are looking to invest in technologies that support sensors and apps to monitor out-of-clinical settings. Solutions that offer a predictability and wellness index for efficient patient flow will find significant adoption among hospitals," said Bejoy Daniel, Senior Industry Analyst, Transformational Health. "Acknowledging the potential of digital solutions, vendors are focused on analyzing the available data and enabling connectivity to integrate devices."

Frost & Sullivan's recent analysis, Analysis of the Drug Delivery Devices Market, Forecast to 2023, examines the investment opportunities for companies in the drug delivery market. It covers the product segments of pulmonary, injectable, and transdermal drug delivery devices in the traditional clinical and home care settings. The study highlights the trends in the US and the EU5 (France, Germany, Italy, Spain, and the UK).

For further information on this analysis, please visit: http://frost.ly/3ud.

"At $49.6 billion, the US market accounted for 56.3% of the revenues of the total market in 2018. Europe was not far behind due to its lead in the pulmonary device segment," noted Daniel. "Germany and the United Kingdom dominated the European market as they had witnessed rapid technological innovations in drug delivery technologies."

Despite the advances in the field of drug delivery, there are several unmet patient needs. Vendors can find ample growth opportunities through:

Analysis of the Drug Delivery Devices Market, Forecast to 2023 is part of Frost & Sullivan's global Advanced Medical Technologies Growth Partnership Service program.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Analysis of the Drug Delivery Devices Market, Forecast to 2023

Mariana Fernandez
Corporate Communications
T: +1 210 348 10 12
E: Mariana.Fernandez@frost.com


SOURCE Frost & Sullivan

These press releases may also interest you

at 13:15
IBM will collaborate with VetBloom, the digital learning ecosystem from Ethos Veterinary Health, to form a group focused on the application of blockchain for learning credentials in the veterinary industry. The goal is to create a framework for...

at 13:00
SMP Nutra is a turn-key manufacturer for all supplements, vitamins and nutraceuticals. We understand the need to have a reliable and responsive manufacturing supplier for the hundreds of nutra-brands a large difficulty for many supplement brands. Our...

at 13:00
Primary care doctor, Dr. Brent Michael, serves families in the Santa Monica, California, area. Dr. Michael and his skilled team provide high-quality, patient-centric care for the entire family and he has recently launched a new comprehensive website....

at 13:00
We introduce a groundbreaking new approach to sculpting the abdomen with Emsculpt ?the first and only non-invasive body shaping procedure that simultaneously addresses both Muscle and Fat. Bringing an entirely new technology to the category, Emsculpt...

at 12:44
GH Recovery Solutions, New England's premier drug and alcohol treatment center, revealed that New Hampshire Governor Chris Sununu visited its facility late Thursday afternoon to get an up-close and personal look at those affected by the state's...

at 12:30
EmblemHealth, one of the nation's largest non-profit health insurers, announced today the release of a new TV commercial, which showcases how EmblemHealth is redefining what consumers should expect from their health plan....

News published on 21 october 2019 at 11:34 and distributed by: