Global Wearable Injectors Market
Global Wearable Injectors market was valued at US$ 5.5 Bn and expected to grow at 12.0% Compound Annual Growth Rate (CAGR) from 2018 to 2024.
Market Outline: Global Wearable Injectors Market
Wearable Injectors are the drug delivery devices are technologically designed to deliver a large volume drugs to the patients for long durations. Wearable injectors are also called as patch pumps or patch injectors. These injectors are evolved from the traditional syringes, and are designed to make the treatment easier with its single-step delivery mechanism. The device also helps to control the disease in patients and delivers the drug faster and safer manner in the body through parenteral route. These injectors have opened the door of hassle free medication administration for the patients suffering from cancer, cardiovascular diseases, auto-immune diseases, and diabetes. Wearable injectors are user friendly and reduce the need of multiple painful injections and the number of hospital visits.
Market Dynamics: Global Wearable Injectors Market
The growing prevalence of diseases such as diabetes, cardiovascular diseases, cancer, and autoimmune diseases are the major factors expected to drive the global wearable injectors market. Moreover, advancements in technology along with tracking devices, advantages over traditional devices for administering large dose volumes driving the adoption of wearable injectors. Benefits of these devices over other drug delivery devices such as prefilled syringe is that wearable injectors limits the number of subcutaneous injections and reduces the dosing frequency with an acceptable pain that eventually results in improved patient compliance during the course of patient treatment. Furthermore, growing demand for less or painless devices is expected to fuel the growth of the wearable injectors market over the forecast period. However, poor adoption in under developed countries and stringent regulatory approvals may hinder the growth of global wearable injectors market.
Market Scope: Global Wearable Injectors Market
Global wearable injectors market is segmented based on type, technology, therapy and end user
Based on type, market is segmented into the following:
Based on technology, market is segmented into the following
- Rotary Pump
- Expanding Battery
- Pressurized Gas
- Collapsible Reservoir
Based on therapy, market is segmented into the following:
- Auto-Immune Disorders
- Infectious Diseases
Based on the end user, the market is segmented into the following:
- Home Care Settings
- Ambulatory Surgery Centers
Regional Analysis: Global Wearable Injectors Market
Geographically, global wearable injectors market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Now a days the use wearable injectors has been tremendously increasing in different parts of the world due to advancements in technology. North America is expected to dominant market in the global wearable injectors market due to ease of availability of advanced technologies and higher penetration of healthcare services. Europe market is expected to grow rapidly over the forecast period owing to increase in demand for less or painless devices in the European market.
Competition Assessment: Global Wearable Injectors Market
Some of the players in the global Wearable Injectors market include:
- Amgen (U.S.)
- Medtronic (Ireland)
- Insulet Corporation (U.S.)
- Tandem Diabetes Care (U.S.)
- Dickinson and Company (U.S.)
- Enable Injections (U.S.)
- Sensile Medicals (Switzerland)
- Insulet Corporation
New updates: Global Wearable Injectors Market
- In June 2017, Enable Injections Inc. launched a new single, partial or multi-vial/syringe transfer system used to fill its large volume wearable injectors that enables the patients to either use multiple vials or syringes to deliver biologics and high volume drugs subcutaneously.