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(India.CityRegions.Com, August 17, 2018 ) Industry Trend Analysis
The global wearable injectors market is expected to be around 14 billion by 2025. Some of the key factors driving the market growth are, ease of administering drugs in home care settings, increasing need of advanced drug delivery systems that can be used with minimal expertise and increasing demand for better patient care. Also, the advantages of wearable injectors over traditional modes of drug delivery requiring subcutaneous injections are also expected to fuel their adoption during the forecast period. Moreover, growing applications of biologics will also favorably contribute the growth of wearable injectors market as wearable injectors are appropriate mode of drug delivery for biologics. However, availability of alternative drug delivery methods can hinder the market growth during the forecast period.
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Technology Outlook and Trend Analysis
Developments in electronic wearable injectors have offered new opportunities for the drug delivery industry in recent years as these are easy to use and do not require advanced patient-training. Mechanical injectors are self-administration devices which are used by the patients for manually administering the drugs. These devices either come pre-loaded with drugs or can be loaded at the time of administration.
Type Outlook and Trend Analysis
Based on the type of wearable injectors, the market is segmented into off-body worn belt injectors, body-worn patch injectors and other injectors. The growth of body worn patch injectors segment is expected to be limited by factors such as adhesive fitting issues, issues related to sensitivity and irritation of the skin and painful removal of the patches. With technological advancements in wearable injectors, their adoption is expected to increase significantly over the forecast period prompting the development of improved delivery mechanisms in coming years.
Application Outlook and Trend Analysis
Based on the applications of wearable injectors, the market is segmented into blood disorder, cancer, infectious diseases, autoimmune disorders, cardiovascular disorders and other applications. Cancer segment is expected to be the largest segment during the forecast period in terms of market share owing to increasing incidence of cancer around the world.
End User Outlook and Trend Analysis
In 2016, the home care segment dominated the end user market for wearable injectors due to the convenience offered by wearable injectors to be used in home care setting with minimal assistance. Use of wearable injectors in home care setting reduces patient’s visits to the hospital and helps in reducing the associated cost. This largely improves the quality of life of patients who need to receive frequent drug doses. Also, increasing prevalence of geriatric population around the world will also considerably contribute to the growth of home care segment during the forecast period.
Regional Outlook and Trend Analysis
North America dominated the global wearable injectors market in 2016 owing to availability of advanced healthcare infrastructure in the region and increasing demand for self-administration drug delivery devices. Also, increasing prevalence of lifestyle disorders chronic diseases is also expected to favorably contribute to the market growth during the forecast period. Asia-Pacific wearable injectors market is expected to witness favorable growth during the forecast period owing to the presence of unmet medical needs in the region and increasing focus on improving healthcare infrastructure.
Competitive Analysis
The key players operating in the global wearable injectors market emphasize on strategic collaborations to strengthen their product portfolio and ensure a larger share of the market. For instance, in February 2016, Unilife Corporation collaborated with Amgen Inc. for injectable drug delivery systems. In this collaboration, Unilife Corporation has granted Amgen Inc., the rights for Unilife’s prefilled, customizable wearable injectors. Some of the key players operating in this market are, Amgen Inc., Enable Injections, Inc., Insulet Corporation, West Pharmaceutical Services, Inc., Becton, Dickinson and Company, Ypsomed AG, Unilife Corporation and Sensile Medical AG.
Market Opportunities
With significant increase in prevalence of geriatric population globally, the demand for wearable injectors is expected to rapidly increase in coming years. As the preference for home health care by the patient community increases, the demand for favorable medical devices is also expected to escalate during the forecast period. With presence of highly unmet medical needs in emerging economies such as China, India and Brazil, the companies operating in the global wearable injectors have lucrative growth opportunities in such evolving markets during the forecast period.
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Wearable Injectors Market Segmentation:
By Technology:
Mechanical Injectors Electronic Injectors Other Technologies
By Type:
Off-Body Worn Belt Injectors Body-Worn Patch Injectors Other Injector Types
By Application:
Blood Disorders Infectious Diseases Cancer Cardiovascular Diseases Autoimmune Disorders Other Applications
By End User:
Lab and Diagnostics Hospital Care Home Care Other End Users
By Region
North America U.S. Canada Mexico
Europe Germany UK France Russia Italy
Asia-Pacific China Japan South Korea India Southeast Asia Rest of Asia-Pacific
South America Brazil Argentina Columbia Rest of South America
Middle East and Africa Saudi Arabia UAE Egypt Nigeria South Africa Rest of MEA
Some of the key questions answered by the report are: What was the market size in 2014 and forecast from 2015 to 2023? What will be the industry market growth from 2015 to 2023? What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast? What are the major segments leading the market growth and why? Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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Qurate Business Intelligence
Nehal Chinoy
+919881074592
nehal@qurateresearch.com
Source: EmailWire.Com
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