Wearable Injectors Market is Likely to Register an Amazing Double-Digit CAGR of 15.2% During Forecast 2018-2023
Wearable Injectors Market Overview:
Wearable
Injectors are advanced drug delivery instruments that are used for convenient
administration of viscous drugs. These instruments are also widely regarded as
bolus injectors or patch pumps. They are used to administer insulin and other
drugs that need large dose volumes with an extended delivery period.
The Wearable Injectors Market
is likely to ascend at a 15.2% CAGR through the review period, as
stated in the latest market research report by MRFR. With an increasing
prevalence of several chronic diseases and a rising concern for injuries caused
by needles are promoting the demand for 24-hour monitoring devices. This rise
in the demand is anticipated to propel growth in the adoption of wearable
injectors to a great extent. Further, rapid technological advancements in the
wearable injectors and mounting prevalence of geriatric population across the
globe are likely to fuel sizeable growth in the global wearable injectors
market in the forecast period.
On
the other hand, a high preference towards conventional drug delivery and
administration methods and a lack of skilled personnel to instruct patients
about these devices are anticipated to hinder market growth to a certain
extent. However, favorable healthcare investments by the government and a
rising demand or minimally invasive drug delivery methods are expected to
contribute heavily to the growth observed in the wearable injectors market
through the assessment period.
Key Players:
·
West Pharmaceutical Services, Inc.
·
CeQur SA
·
Eli Lilly and Company
·
Valeritas, Inc.
·
SteadyMed
Therapeutics, Inc.
·
YPSOMED
·
Becton, Dickinson, and Company (BD)
·
Amgen Inc.
·
Enable Injections
·
BioSpace
·
Sensile Medical AG.
Market Segmentation:
·
The Global Wearable Injectors Market is
studied for various segments carried out by type, usage, mechanism of action,
therapeutic area, end-user, and region.
·
Based on type, the wearable injectors market
is segmented into on-body wearable injectors, hand-held wearable injectors, and
off-body wearable injectors.
·
Based on usage, the wearable injectors market
is segmented into disposable and semi-disposable.
·
Based on the mechanism of action, the global
wearable injectors market is segmented into motor driven, spring based, rotary
pump, pressurized gas, expanding battery, and collapsible reservoir.
·
Based on the therapeutic area, the wearable
injectors market is segmented into infectious diseases, oncology,
cardiovascular diseases, diabetes, and autoimmune diseases.
·
By end-user, the global wearable injectors
market is segmented into hospitals & clinics, homecare, and ambulatory
surgery centers.
Detailed Regional Analysis:
The Global
Wearable Injectors Market is regionally segmented into Asia Pacific, Europe,
the Americas, and the Middle East & Africa. The Americas are further
segmented into North America and Latin America. The Americas are expected to
spearhead the global wearable injectors market over the forecast period. This
market domination can be owed to the presence of various well-established
healthcare infrastructure and advanced technologies for the administration of
drugs for the treatment of chronic diseases such as diabetes. As per the
National Diabetes Statistics Report 2017, approximately 30.3 million people
suffered from diabetes in the US alone, in 2015.
Europe
is anticipated to follow the Americas and hold the second largest share in the
global wearable injectors market through the review period. Additionally, a
noticeable development of the medical devices industry in the UK, Germany, and
France is expected to promote sizeable growth in the regional wearable
injectors market between 2018-2023.
Asia
Pacific is anticipated to exhibit the fastest growth rate for wearable
injectors through the review period among all the regional segments. Such
growth can be attributed to the introduction of various initiatives by the
government to encourage innovations in the medical devices industry.
The
Middle East & Africa is estimated to grow at a slow rate, accounting for
the smallest share in the global wearable injectors market. This can be
attributed to the leisurely development in the healthcare sector in the region.
Growth in this region can be owed to employed resources for the research and
development in the region.
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