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.
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.
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.
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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.
- On-body (adhesive patch)
- Off-body (belt clip)
- Rotary Pump
- Expanding Battery
- Pressurized Gas
- Collapsible Reservoir
- Auto-Immune Disorders
- Cardiovascular Diseases
- Infectious Diseases
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.
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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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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