Wearable Injectors Market – Overview
Market Research Future (MRFR) announces a new release on the global wearable injectors market. The report assesses the historical and present growth dynamics of the wearable injectors market in order to present a comprehensive view of the market’s growth prospects over the forecast period. The segmentation and competitive landscape of the global wearable injectors market have also been assessed in the market study in order to provide readers with a close overview of the various factors affecting the market’s movement on a granular level. The global wearable injectors market is expected to exhibit a CAGR of 15.2% over the forecast period (2018-2023).
Wearable injectors are devices used to deliver large dosages of medication directly into the patient’s body automatically. Wearable injectors can provide timely delivery of drug dosages without the patient having to ensure the periodicity of the drug delivery. Comparatively large dosages of various forms of medication can be easily delivered through wearable injectors, making them highly user-friendly and effective. The convenience of wearable injectors is likely to be the major driver for the global wearable injectors market over the forecast period.
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The rising prevalence of diabetes and other chronic concerns is likely to be the major driver for the global wearable injectors market over the forecast period. Diabetes management is among the leading applications of wearable injectors, as delivering insulin via wearable injectors ensures regular delivery in the appropriate dosages.
Wearable Injectors Market – Competitive Analysis
Leading players in the global wearable injectors market include West Pharmaceutical Services Inc., Eli Lilly and Company, Amgen Inc., CeQur SA, Biospace, Sensile Medical AG, Enable Injections, SteadyMed Therapeutics Inc., Becton, Dickinson and Company, YPSOMED, and Valeritas Inc.
Wearable Injectors Market – Segmentation
The global wearable injectors market has been segmented on the basis of type, usage, mechanism of action, therapeutic area, and end user.
On the basis of type, the global wearable injectors market has been segmented into on-body wearable injectors, off-body wearable injectors, and hand-held wearable injectors.
The global wearable injectors market has been segmented by usage into disposable and semi-reusable wearable injectors.
By mechanism of action, the global wearable injectors market has been segmented into spring based, motor driven, rotary pump, expanding battery, pressurized gas, and collapsible reservoir.
By therapeutic area, the global wearable injectors market has been segmented into oncology, infectious diseases, cardiovascular diseases, autoimmune diseases, diabetes, and others.
By end-user, the global wearable injectors market has been segmented into hospitals, clinics, homecare, ambulatory surgery centers, others.
Wearable Injectors Market – Regional Analysis
The global wearable injectors market has been segmented by region into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
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The Americas and Europe are likely to be the major contributors to the global wearable injectors market over the forecast period, primarily due to the growing prevalence of diabetes in these regions. Lifestyle factors in these regions have resulted in a growing prevalence of diabetes and other chronic diseases, as most of the population in these regions follows a sedentary lifestyle, which is highly conducive to the development of diabetes. The increasing consumption of fast food is also a major factor in the growing prevalence of diabetes in these two regions, and is likely to remain a major factor in the growth of the wearable injectors market over the forecast period. About a third of Europe’s population (above 15 years of age) suffers from a chronic disease, while nearly 20% of the population in the U.S. suffers from some autoimmune disease, which is also a key demand channel for the wearable injectors market (as of Q1 2017).
Asia Pacific is likely to exhibit the fastest growth over the forecast period in the global wearable injectors market. The key drivers for the wearable injectors market in Asia Pacific include the rising prevalence of diabetes and the growing awareness about advanced healthcare technologies, coupled with government and private-sector efforts to modernize the healthcare sector and bring in advanced technologies to fulfill the demands of the increasing urban and rural populace. Wearable injectors are still a novelty in most Asia Pacific countries, but are likely to increase in demand over the forecast period as customers get more used to the idea of wearable injectors and healthcare sector manufacturers make more efforts to bring in cheaper and more effective models.
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