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Global Smart Drug Delivery Drones Market is expected to grow at a CAGR of 16.12% over the Forecast Period (2020 – 2028), Owing to Technological Advancements, says Absolute Markets Insights

Published On 16 Oct 2020 01:42 PM


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Drones used for delivery of drugs are witnessing rapid transformation due to incorporation of advanced computing and visualization technologies. These drones are embedded with high performance artificial intelligence (AI) algorithms for object detection, classification, and tracking while flying into the air. AI powered autonomous drug delivery drones are able to automatically plan their routes to the site of delivery and navigate through the entire path to deliver essential medical supplies such as vaccines, blood samples and medicines. These drones also carry biological samples of patients on their way back to medical facilities for diagnostics and research purposes. This reduces the considerable amount of efforts and time enabling medical professionals to concentrate on other activities. Also, development of advanced machine vision products such as thermal cameras, infrared sensors and others assist drones to navigate efficiently in harsh conditions. This technological advancements in drones have made it suitable for military and defense applications. For instance, U.S Army is conducting trials on AI enabled drones under its Medical Robotic & Autonomous Systems (MED-RAS) research project to deliver essential medical supplies at remotely located military sites. Thus, these ongoing technological advancements are propelling the growth of global smart drug delivery drones market.  

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The emergence of smart drones powered by advanced digital technologies are also suitable to cater patients with infectious diseases. The growing prevalence of infectious diseases makes it difficult for medical professionals to travel to the infected site and for patients to travel for buying medicines. The recent outbreak of COVID-19 pandemic which has infected more than 36.04 million people across the globe, has inflated the demand for tests, medicines and other medical essential supplies. Smart drones powered by AI technologies eliminate the human intervention in delivery of drugs and collection of biological samples for diagnostic purposes, thus, reducing the spread of infection. Hence, the development of advanced drones, amidst growing prevalence of infectious diseases, is anticipated to fuel the growth of global smart drug delivery drones market. 

The detailed research study provides qualitative and quantitative analysis of smart drug delivery drones market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.  

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Key Findings of the Report:  

  • The global smart drug delivery drones market was valued at US$ 78.54 Mn and is anticipated to witness a compound annual growth rate of 16.12% over the forecast period owing to rise in investments from various organizations in public health sector.   

  • Based on technology, multi-rotor drones are anticipated to witness high growth in global smart drug delivery drones market over forecast period due to their vertical take-off and landing capabilities and high stability to deliver packages in confined locations.  

  • North America accounted for the highest market share in global smart drug delivery drones market in 2018. Asia Pacific is expected to register the highest compound annual growth rate over the period of next eight years. The on-going government initiatives in developing nations of this region to provide medical care to the populations in remote areas with undeveloped infrastructure is attracting global players.  

  • Some of the players operating in the smart drug delivery drones market are Flirtey, Matternet, Softbox, Swoop-Aero, Wing Aviation LLC., Wingcopter and Zipline Inc. amongst others.  

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Global Smart Drug Delivery Drones Market: 

  • By Application 

    • Transport and Delivery  
    • Blood Samples, Lab Samples  
    • Vaccine Stock  
    • Diagnostic Specimens  
    • Long-tail Medicines  
    • Essential and Programme Medicines  
    • Others  
    • Medical Services (Remote Telemedicine, Patient Care at home)  
    • Others 
  • By Technology 

    • Autonomous Fixed-Wing  
    • Multi-rotor  
    • Others (Rotary-wing, Hybrid) 
  • By End User 

    • Hospitals and Health Facilities  
    • Government Organizations  
    • Military and Defense  
    • Others 
  • By Region
  • North America
    • U.S
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
  • Rest of Asia Pacific
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

 

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Press Release Provided By: Absolute Markets Insights