Rising incidence of chronic diseases will boost the wearable injectors market, forecast to touch US$ 13,750.98 Million by 2025 at a CAGR of 16.7%
Noida, Uttar Pradesh, India, February 17 2021 (Wiredrelease) Report Ocean Pvt Ltd –:Wearable injectors are also called patch injectors or patch pumps that are mainly adopted for drug delivery. These wearable injectors have been widely innovated and developed from the traditional syringes to make the overall treatment easier with its single-step delivery mechanism. The global wearable injectors market is growing due to the rising chronic disease prevalence such as cardiovascular disease (CVD), cancer, and diabetes. Besides this, the favorable reimbursement scenarios in emerging markets and technological advancements in injector devices are further enhancing the wearable injectors market position worldwide. Driven by these promising developments, the Global Wearable Injectors Market is estimated to see healthy growth, pegged at a CAGR of 16.7% during the forecast period 2020-2025.
Rising demand for mAbs and biologics
The rise in the demand and consumption of mAbs and biologics to treat diseases such as cardiovascular disease, cancer, and rheumatoid arthritis are estimated to deliver significant growth opportunities for wearable injectors globally. These drugs need to be administered through the parenteral route (subcutaneous, intramuscular, or intravenous delivery). According to Pharmaceutical Research and Manufacturers of America (PhRMA), over 907 biologics are in development stage, which are expected to finalize in the coming years that will register opportunities in terms of R&D activity in the market. Their efficacy in self-administration and convenience is proable to make wearable injectors’ prominent opportunistic options for efficiently delivering such drugs.
There is growth in several biologics in the drug development pipeline, which are difficult to deliver by a syringe. In most cases, biologics are injected by intravenous infusion across different applications such as hospitals, clinics, and home care. However, the introduction of self-administration in a home setting will become a growing trend during the forecast period. For instance, BD’s Libertas is currently being used to administer various biologic drugs under research, thereby capturing a market share in even the CRO industry. Cost and complexities associated with the traditional settings have urged patients to switch towards more cost-effective alternatives, creating demand for wearable injectors. Moreover, wearable injectors offer advantages such as ease of administration, reduced pain, and minimized hassle compared to syringes, thereby adding to market growth.
Segmentation Overview of the Global Wearable Injectors Market
The wearable injectors market is segmented based on Type, Technology, Application, and End-use. These major market segments are further categorized into various sub-segments to study the market in detail.
By Type Outlook
By Technology Outlook
Spring-based Motor-driven Rotary Pump Expanding Battery Other
By Application Outlook
Oncology Infectious Diseases Cardiovascular Diseases Autoimmune Diseases Others
By End-use Outlook
Hospitals Clinics Home Care Others
Key Players Insights
Bespak, Amgen Inc., Ypsomed Group, Valeritas, Inc, West Pharmaceutical Services, Inc., Dexcom, Inc., Becton, Dickinson and Company, Insulet Corporation, Enable Injections LLC, and Medtronic Plc, among others, are some major players included in the research study of the global wearable injectors market.
Research Report on the Global Wearable Injectors Market Include:
Economic Sectors and Share of Wearable Injectors
Global Wearable Injectors Market Size Forecast
Wearable Injectors Performance Index
Industry Structure by Segments
Healthcare Sector globally
Wearable Injectors Drivers
Regional Opportunities and Trends
Injectors Market Wearable Injectors in Home Care Market Landscape
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