The Global Wearable Injectors Market Will Grow to $19,518.9 Million by 2030, at a CAGR of 15.3% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Wearable Injectors Market By Type, Usage, Technology, Mechanism Of Injection, Therapeutic Area and End User: Global Opportunity Analysis And Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global wearable injectors market was valued at $5,022.2 million in 2020, and is projected to reach $19,518.9 million by 2030, registering a CAGR of 15.3% from 2021 to 2030.
Development of advanced wearable injectors and advantages over traditional IV infusion drives the growth of the wearable injector market. In addition, the increase in the adoption of home-based treatments, owing to the impact of COVID-19 propels the growth of the wearable injector market. Wearable injectors can release drugs throughout the set period with specific time intervals, thus they can be used for long term therapy.
The rise in prevalence of chronic diseases such as cancer, diabetes, kidney diseases, respiratory diseases, and arthritis contributes toward the growth of the market. For instance, according to the World Health Organization (WHO) in 2019, diabetes was the ninth leading cause of death with an estimated 1.5 million deaths directly caused by diabetes in the world. Cancer has become one of the leading cause of death worldwide. As per the American Cancer Society Journal, an estimated 19.3 million new cancer cases and almost 10.0 million cancer deaths occurred in 2020, globally. Rise in geriatric population also contributes toward the growth of the market. Wearable injectors are useful for geriatric patients receiving daily medication, giving them a convenient experience. For instance, as per data by the Population Reference Bureau (PRB), in 2019, about 52.76 million people were over the age of 65 in the U.S.
However, some drugs are highly potent and may produce toxic effects such as anti-cancer requires physician monitoring, which limits usability of wearable injectors. In addition, high cost associated with manufacturing of devices in developing and underdeveloped countries also limit growth of the market. Moreover, a single type of wearable injector is not suitable for all drugs, hence manufacturers, while designing a device, focus on specific category of medication, which limits its usage.
The wearable injector market is segmented on the basis of type, usage, technology, mechanism of injection, therapeutic area, end user, and region. By type, the market is divided into on body (adhesive patch), off body (belt held), and hand held. By usage, it is classified into disposable and semi-reusable. By technology, it is classified into electronic injectors, mechanical injectors, and others. By mechanism of injection, it is categorized as motor driven, spring driven, expanding battery, rotary pump, collapsible reservoir, and pressurized gas. By therapeutic area, it is divided into diabetes, oncology, cardiovascular disease, infectious disease, and auto immune disorder. By end user, it is divided into clinics, hospitals, ambulatory surgery centers, home care settings, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the global wearable injector market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers market analysis from 2021 to 2030, which is expected to enable stakeholders to capitalize on the prevailing opportunities in the market.
- A comprehensive analysis of the region assists to understand the regional market and facilitating strategic business planning and determining prevailing opportunities.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global wearable injector market growth
KEY MARKET SEGMENTS
- On body
- Off body
- Electronic injectors
- Mechanical injectors
By Mechanism of Injection
- Motor driven
- Spring driven
- Expanding battery
- Rotary pump
- Collapsible reservoir
- Pressurized gas
By Therapeutic Area
- Cardiovascular disease
By End User
- Ambulatory surgery centers
- Home care setting
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
LIST OF KEY PLAYERS PROFILED IN THE REPORT
- Enable Injections
- United Therapeutics (Steadymed therapeutics, inc.)
- Insulet Corporation
- Medtronic plc
- Sensile Medical AG
- West Pharmaceutical Services, inc.
- Becton, Dickinson and company
- Buhler Motor gmbh
LIST OF OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request.)
- Sorrel Medical
- Shift of healthcare system toward home-based treatment due to COVID-19
- Rise in demand for quality and affordable patient care
- Advancements in wearable injectors
- Low volume of administration and nature of drugs
Increase in the prevalence of chronic disorders
For more information about this report visit https://www.researchandmarkets.com/r/x34rll
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