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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