Smart Medical Devices Market by Emerging Technologies, Major Applications, Enhancement in Medical Sector
Global Smart Medical Devices Market is dynamic and is expected to witness healthy growth according to a report by Market Research Future. Biotech companies have identified this demand and are working toward catering to it by increasing investments toward the development of more efficient methods of self-administration of drugs. Patient-centric biologics and the growing participation of patients in their treatments have significantly increased the demand for Smart Medical Devices. Market Research Future's report provides insights into the market and reveals various important market figures along with predictions for the market over the assessment period.
Some of the prominent players operating in the global
Smart Medical Devices market are Becton Dickinson
and Company, Johnson & Johnson Services, Inc., F. Hoffmann-La Roche Ltd.,
Amgen, Inc., Unilife Corporation, Debiotech S.A., SteadyMed Therapeutics, Inc.,
Insulet Corporation, Enable Injections, Sensile Medical AG, West Pharmaceutical
Services, Inc., and CeQur SA.
Moreover, this
demographic has a high demand for ease of treatment which works in favor of the
Smart Medical Devices market. Technological advancements are ongoing and are
expected to open up multiple avenues for opportunities in the coming years and
offer superior safety to conventional injectors.
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Smart Medical
Devices, also known as large volume injection devices, are a fairly innovative
port of injectable drug delivery as it offers the ability to deliver a high
volume of drugs, typically larger than 1 to 2 ml. This represents high
potential for the development of treatment to pharmaceutical companies which
are increasingly submitting drug approvals for biologics which is expected to
be a significant driver of the Smart Medical Devices market. Although there are
many areas of therapy where Smart Medical Devices can find applications, the
use of Smart Medical Devices for the treatment of cancer is expected to be a
driver of note in the global market due to the rapidly rising population.
By Type
·
On-body (adhesive patch)
·
Off-body (belt clip)
·
Hand-held
By Technology
·
Spring-based
·
Motor-driven
·
Rotary Pump
·
Expanding Battery
·
Pressurized Gas
·
Collapsible Reservoir
·
Others
By Application
·
Oncology
·
Diabetes
·
Auto-Immune Disorders
·
Cardiovascular Diseases
·
Infectious Diseases
·
Others
Majority of
large volume injectibles are presently administered via IV which require close
monitoring in a clinical setting, and the ongoing nature of such drug
administration has led to a demand for Smart Medical Devices. Reducing the need
to visit a hospital and or appointments, self-administration in the comfort of
one's own home is a highly attractive concept to patients with chronic diseases
and is an important factor driving the demand for Smart Medical Devices.
Applications for Smart Medical Devices also lie in the treatment of autoimmune
diseases, cardiovascular, and neurological diseases. The growing elderly
population across the globe has also led to the recording of high numbers of
chronic diseases.
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The technologies
covered in the report are spring-based, motor-driven, rotary pump, expanding
battery and others. For opportunity analysis, major application areas that are
covered in the report are oncology, diabetes, auto-immune disorders,
cardiovascular diseases and others. All the sub-market covered in the report
are profiled under four major region- North America, Europe, Asia Pacific and
the rest of the world, with respective country-level analysis.
Detailed Regional
Analysis
North America is a significant region due to the high prevalence of
lifestyle diseases caused by excessively sedentary lifestyles, and poor dietary
habits. The region includes the U.S which is home to a number of market players
leading the Smart Medical Devices market. The presence of a well-established
healthcare sector with rising expenditures and government support for the
development of advanced therapeutics for cancer, diabetes and other chronic diseases
are expected to drive the regional market.
The Asia Pacific has a high diabetic population and a large patient
population suffering from cardiovascular issues. Moreover, the presence of a
truly significant patient population among which the geriatric demographic is
considerable, thus making it a potentially lucrative market for the Smart
Medical Devices market. Governments in the region are increasing their support
of the healthcare sector, and rising investments are expected to be conducive
to the adoption of Smart Medical Devices. Moreover, the increasing, rising
disposable of the population combined with increased awareness about
advancements in healthcare technology are expected to drive demand and as a
result, market growth
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