Impact of COVID-19 on Medical Wearable Injectors Market 2021 | Size, Growth, Demand, Opportunities & Forecast To 2027
Industry Trends
Wearable injectors are medical
devices for the dispensing of large doses of the drug. Wearable injectors are
user-friendly, comfortable and the need for multiple painful injections
decreases. Numerous factors, such as increasing demand for convenient drug administration
methods, increasing prevalence of chronic diseases such as diabetes,
technological advances and the advancement of design in wearable injectors are
expected to drive market growth. In addition, favorable government health-care
initiatives and rising demand for minimally invasive devices are fueling market
growth. Strict government regulation for product approval and the increasing
preference for conventional drug delivery methods that, however, impede market
growth during the forecast period.
The wearable injector does not
require that a physician or nurse administer the drug and it also monitors the
patient's medication. The risks of error with wearable injectors during the
delivery of a given dose are almost zero. The wearable injectors deliver
large-volume and viscous drugs which vials and syringes had previously made
difficult. Wearable injectors are also user-friendly, reducing the need for
multiple painful injections. Through reducing hospital visits the wearable
injector gives patients comfort. Conventional insulin pumps or CGM are large in
size and therefore people are socially and psychologically stigmatized about
opting for such devices, whereas portable injectors are lightweight and tiny
and stick to the patient's skin. This has led to the rising adoption of
wearable injectors globally.
The growth of the global wearable
injector market is driven mainly by the high prevalence of diseases such as
diabetes, cancer, cardiovascular diseases and technological innovation with
tracking devices that can track the patient's health. In addition, rising
demand for fewer or painless products is also expected to fuel market growth
for wearable injectors. The market is segmented based on type into on-body and
off-body injectors. The on-body segment is expected to account for the biggest
share of the global market for wearable injectors, by volume. The drawbacks
associated with on-body wearable injectors such as painful removal, skin
sensitivity issues and irritation, and adhesive fitting issues have resulted in
increased adoption of off-body injectors, however, in the coming years the
off-body injectors to witness the highest growth during the forecast period.
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The
North American region is leading the global market for wearable injectors,
which is predicted to account for the biggest market share in 2018. It is
further projected that North America will grow at the highest rate during the
forecast period. Factors such as the increasing prevalence of chronic diseases,
a favorable reimbursement scenario and the presence of major market players in
the region are expected to support the growth of the wearable injectors market
in North America.
Wearable
Injectors Market Revenue & Forecast, (US$ Million), 2015 – 2027
Competitive Landscape
The report provides both,
qualitative and quantitative research of wearable injectors market, as well as
provides comprehensive insights and development methods adopted by the key
contenders. The report also offers extensive research on the key players in
this market and details on the competitiveness of these players. Key business
strategies such as mergers and acquisitions (M&A), affiliations,
collaborations, and contracts adopted by these major market participants are
also recognized and analysed in the report. For each company, the report
studies their global presence, competitors, service offerings and specification
amongst others.
The
major market players include: West Pharmaceutical Services, Inc., Valeritas,
Inc., Eli Lilly and Company, YPSOMED, Amgen Inc., Becton, Dickinson and Company
(BD), CeQur SA, SteadyMed Therapeutics, Inc., BioSpace, Enable Injections, and
Sensile Medical AG.
Wearable
Injectors Market:
By
Type: On-Body, Off-Body injectors (Infusion Pump Devices)
By
Therapy: Immuno-oncology, Diabetes, Cardiovascular diseases, Parkinson's
disease, Thalassemia, Primary Immunodeficiency Disease
By
Geography:
North
America: (U.S, Canada, Mexico, Rest of North America)
Europe:
(France, The UK, Spain, Germany, Italy)
Nordic
Countries: (Denmark, Finland, Iceland, Sweden, Norway)
Benelux
Union: (Belgium, The Netherlands, Luxembourg, Rest of Europe)
Asia
Pacific:(China, Japan, India, New Zealand, Australia, South Korea)
Southeast
Asia: (Indonesia, Thailand, Singapore)
Rest of
Southeast Asia
Middle
East and Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of Middle East
and Africa)
Latin
America: (Brazil, Argentina, Rest of Latina America)
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