Global Wearable Injectors Market size to registering approximately 15.2% CAGR throughout the forecast period (2018 – 2023). The thriving wearable injectors market is expected to register significant accruals throughout the forecast period. Factors predominantly supporting the growth of the market include the growing demand for convenient methods of drug administration and technological advancements & design development in wearable injectors.
Moreover, factors such as the favorable healthcare investments by government and the rising demand for minimally invasive devices escalates the market on the global platform. Additional factors positively impacting the market growth include increasing cancer cases, the rising prevalence of chronic diseases, and growing uses of biologics. Also, technological advancements, improving outcomes and patients’ experience, beneficial reimbursement policies, and increasing awareness towards healthcare are some of the major driving forces pushing up the market growth.
On the other hand, factors such as the stringent government regulation and the time consuming, lengthy process for product approvals alongside the preference for traditional methods of drug delivery are negatively impacting the market growth. Nevertheless, factors such as the significant growth in the home healthcare are expected to support the market growth throughout the forecast period, pushing push up the demand for wearable injectors.
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Wearable Injectors Market Major Players
Key players leading the global wearable injectors market include Valeritas, Inc., West Pharmaceutical Services, Inc., Eli Lilly and Company, Becton, Dickinson and Company (BD), YPSOMED, Amgen Inc., CeQur SA, BioSpace, Enable Injections, SteadyMed Therapeutics, Inc., and Sensile Medical AG among others.
Global Wearable Injectors Device Market – Segments
• Type
• Mechanism of Injection
• Usage
• Therapeutic Area
• End-user
By Type Wearable Injectors Device Market has been segmented into
• On-body Wearable Injectors
• Off-body Wearable Injectors
• Hand-held Wearable Injectors
By Usage Wearable Injectors Device Market has been segmented into
• Spring-based
• Motor Driven
• Rotary Pump
• Expanding Battery
• Pressurized Gas
• Collapsible Reservoir
By Therapeutic Area Wearable Injectors Device Market has been segmented into
• Oncology
• Infectious Diseases
• Cardiovascular Diseases
• Autoimmune Diseases
• Diabetes
By End-user Wearable Injectors Device Market has been segmented into
• Hospitals
• Clinics
• Homecare
• Ambulatory Surgery Centers
By Regions Wearable Injectors Device Market has been segmented into
• Asia Pacific
• North America
• Europe
• Rest-of-the-World.
Global Wearable Medical Injectors Market – Regional Analysis
The North American region, heading with the presence of several notable players is expected to retain its dominance over the global wearable injectors market. Moreover, factors such as the enhanced access to technology, increasing governmental support for the research and development, and high per capita healthcare expenditures are fostering the growth of the regional market.
Besides, the availability of well-developed technologies alongside the presence of well-established infrastructure that allows implementation of advanced technology positively impacts the market growth.
The wearable injectors market in the European region holds the second position in the global market, emerging as a lucrative market. The market in the region is expanding due to the increased funding and the support provided by the government and private entities for R&D that are bringing advancements in the wearable technology. Moreover, the resurging economy in Europe is playing a vital role in the growth of the market allowing it to register a phenomenal CAGR throughout the forecast period, increasing consumers purchasing power.
The Asia Pacific region, heading with the high uptake of technology, is rapidly emerging as a profitable market for wearable injectors. Advancements in wearable technology and medical devices are one of the key driving forces behind the growth of the market in this region. The market in India, China, and Japan heading with the large technological advancements and the increasing number of healthcare solution providers predominantly contributes to the growth of the regional market.
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