New York, NY, March 12, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Wearable Injectors Market by Type (Off-Body Injectors and On-Body Injectors), by Therapeutic Application (Cardiovascular Diseases, Diabetes, Immuno-Oncology, and Others), and by End-User (Home Care Settings, Clinics, Hospitals, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global wearable injectors market was valued at approximately USD 5.6 billion in 2018 and is expected to generate around USD 11.7 billion by 2025, at a CAGR of around 11.2% between 2019 and 2025.
Wearable injectors are easy to use and convenient drug delivery devices that adhere to the body to subcutaneously administer the drug for a prolonged time period. These devices are also known as patch pumps or patch injectors. Painful multiple injections using traditional prefilled syringe can be avoided with the help of wearable injectors, which are ideal for viscous, large volume drugs, which can be used for cancer, diabetes, and cardiovascular disease treatment.
Browse through 54 Tables & 27 Figures spread over 110 Pages and in-depth TOC on “Global Wearable Injectors Market: Industry Size, Market Share, Segments, Growth, Analysis and Forecast, 2018–2025”.
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The growing prevalence of chronic disorders worldwide, such as diabetes, cancer, cardiovascular diseases, etc., technological advancements in wearable injectors design, increasing investments made by major players, and favorable reimbursement policies for wearable injectors are major factors contributing to the global wearable injectors market. Additionally, the growing preference for wearable injectors to avoid needlestick injuries caused by traditional injectors, large-scale adoption of wearable injectors, and continuous increase in the development of biologics will further propel the wearable injectors market globally. However, the high cost and availability of alternative drug delivery systems may the hamper wearable injectors market. The growing demand for biologics and monoclonal antibodies are likely to bring new growth opportunities in the wearable injectors market in the future.
The global wearable injectors market is segmented based on type, therapeutic application, and end-user. By type, the market is segmented into off-body injectors and on-body injectors. Skin sensitivity, painful removal, and irritation associated with on-body injectors are fuelling the adoption of off-body injectors.
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By therapeutic application, the market is segmented into cardiovascular diseases, diabetes, immuno-oncology, and others. The immuno-oncology segment held the largest market share in 2018, due to the growing prevalence of cancer and increase cancer awareness. The diabetes segment will show the highest CAGR in the upcoming years, owing to the increasing diabetes prevalence worldwide and rising use of insulin and insulin analogs by diabetes patients.
Home care settings, clinics, hospitals, and others form the end-user segment of the wearable injectors market. Hospitals held the largest market share in 2018, whereas home care settings are expected to register the highest growth in the future.
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North America dominated the global wearable injectors market with a market share of about 42% in 2018 and is estimated to maintain its leading position over the forecast time period as well. This can be attributed to the increasing prevalence of chronic diseases, such as diabetes, cancer, cardiovascular diseases etc., the presence of major market players, favorable reimbursement policies for wearable injectors, developed healthcare infrastructure, and growing adoption of wearable injectors. Other factors that contribute to the market growth are increasing adoption of wearable injectors, rising healthcare expenditure, and growing health awareness. At the country level, the U.S. is a major market followed by Canada. In 2018, the U.S. dominated North America wearable injectors market by contributing the largest share of about 80%. High disease burden of chronic disorders due to a sedentary lifestyle and changing dietary habits and increasing health awareness in the U.S. are the major factors driving this regional market.
Europe was the second largest region in 2018 in the global wearable injectors market, due to the developed healthcare infrastructure, favorable reimbursement policies, and growing adoption of technologically advanced therapies. Germany, France, and UK are the major countries in the European wearable injectors market. Germany held the largest revenue share of about 32% in 2018, followed by UK. Over the forecast time period, UK will witness the highest market growth.
Browse the full “Wearable Injectors Market by Type (Off-Body Injectors and On-Body Injectors), by Therapeutic Application (Cardiovascular Diseases, Diabetes, Immuno-Oncology, and Others), and by End-User (Home Care Settings, Clinics, Hospitals, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/wearable-injectors-market
Increasing chronic disease burden and growing investments for injector design development are some factors contributing to the European wearable injectors market, particularly in UK, Spain, Germany, Italy, and France.
Asia Pacific will witness the highest CAGR over the forecast time period in the wearable injectors market globally. Huge geriatric population base, high chronic disease burden, increasing health awareness and expenditure, rising pharmaceutical and biopharmaceutical drug development and research, and growing need for health care cost reduction and self-drug administration are some factors expected to contribute notably towards the Asia Pacific wearable injectors market in the future region. Additionally, the focus of key market players on emerging markets like India and China, and rise in the disposable income of people and healthcare spending will further drive the wearable injectors in the Asia Pacific region. At the country level, China and Japan are major countries for this market. China held the largest revenue share of the market, i.e., about 32% in 2018, whereas Japan was the second largest market in 2018. India is projected to register the highest CAGR over the forecast period.
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Latin America signifies another important regional market for wearable injectors, which is slated to grow moderately over the forecast time period. Brazil is a major country in the Latin American wearable injectors market and held the largest revenue share of about 65% in 2018.
The Middle Eastern and African wearable injectors market will register sluggish growth in the upcoming years, owing to the lack of awareness and poor healthcare infrastructure.
Some key players of the global wearable injectors market include Medtronic PLC, Amgen, Ypsomed, Tandem Diabetes Care, Inc., Insulet Corporation, Becton, Dickinson, and Company, Valeritas, Inc., United Therapeutics Corporation, SteadyMed Therapeutics, Enable Injections, and Sensile Medical.
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This report segments the global wearable injectors market as follows:
Global Wearable Injectors Market: By Type
- On-Body Injectors
- Off-Body Injectors
Global Wearable Injectors Market: By Application
- Immuno-Oncology
- Diabetes
- Cardiovascular Diseases
- Others
Global Wearable Injectors Market: By End-User
- Hospitals
- Clinics
- Home Care Settings
- Others
Global Wearable Injectors Market: By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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