Pune, India, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Wearable injectors are drug delivery devices that adhere to the body to deliver larger volumes of drugs subcutaneously. Several pharmaceutical and medical device companies have developed wearable injectors. Wearable injectors consist of a reservoir for the medication, a cannula for delivery to the tissue, adhesive to fix the device to the patient’s skin, and a drive system to deliver the appropriate drug volume.
According to our latest study on “Wearable Injectors Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type, Application, End User, and Geography,” the market is to reach anticipated to reach $13.88 billion by 2027 from $5.79 billion in 2019; it is estimated to record a CAGR of 11.6% from 2020 to 2027. The growth of the wearable injectors market is attributed to some key driving factors, such as increasing chronic disease prevalence, technological advancements and design development, and conventional drug delivery system limitations. However, the low rate of adoption in emerging countries is a major factor hindering market growth.
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Global Wearable Injectors Market Analysis: Competitive Landscape and Key Developments
The wearable injectors market analysis consists of the players such as Amgen, Inc., Medtronic, BD, Insulet Corporation, Gerresheimer AG (Sensile Medical), West Pharmaceutical Services, Inc., Ypsomed AG, Tandem Diabetes Care, Inc., CeQur SA, Debiotech S.A, Zealand Pharma A/S, Elcam Medical. These players are focusing on expanding and diversifying their market presence and acquiring a novel customer base, thereby tapping prevailing business opportunities in the global wearable injectors market. Organic and inorganic developments made by the market players that are operating in the wearable injectors market are as below:
In November 2022, Medtronic launched the Medtronic Extended infusion set, the first and only infusion set labeled for up to 7-day wear. This innovation is estimated save the cost of insulin by up to 25% due to a reduced number of infusion sets and reservoir changes, as well as a plastic waste reduction of up to 50%.
In December 2020, B.D. Libertas Wearable Injector cleared 52-subject human clinical trial. The injector is a subcutaneous drug delivery system, is designed to require no patient assembly and deliver biologics with viscosities up to 50 cP in 2-5 mL and 5-10 mL configurations.
In April 2020, Zealand Pharma A/S acquired all assets of Valeritas Holdings, Inc. for a cash purchase of about US$ 23 million. This acquisition has helped to extend its business from its existing pharmaceutical business.
In January 2020, Tandem Diabetes Care launched the t:slim X2 Insulin Pump with Control-IQ Technology in the U.S.
In September 2019, Insulet Corporation received clearance from the U.S. FDA for its Alternate Controller Enabled Infusion Pump. This approval has allowed the company to market its Omni pod DASH Insulin Management System as an integrated insulin pump.
Rapid technological advancements and design development are driving the growth of the Global Wearable Injectors Market during 2020 to 2027:
Wearable injectors are proving to be a useful innovation due to their capability to deliver a high volume of viscous formulations. The administration of pharmaceuticals via intravenous (IV) infusion is expensive in healthcare settings. Self-administration of subcutaneous injections is expected to save 30–70% of costs. Moreover, administration through conventional methods poses risks such as inaccurate dosage and needle stick injuries. The rise in the number of biological drugs that are not suitable for oral administration has increased the adoption of wearable injection devices. Higher dosage volumes and viscous formulations of these drugs are further emphasizing the need for alternative injection methods, such as wearable injectors. For instance, the enFuse wearable injector manufactured by Enable Injections is used for subcutaneous delivery of high-volume therapeutics outside a healthcare facility. The company has also introduced mobile monitoring and larger volume capabilities to its high-volume wearable injectors.
A new category of wearable products has emerged, bridging the gap between functionality and cost while improving patient safety and quality of life. One such example is Stevanato Group’s cartridge-based wearable device, which received the Best Innovation in Drug Delivery Device award at Pharma Pack Awards in 2019. It is designed to offer convenience and ease of administration for patients who need intuitive, discreet, and easy-to-use devices.
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Global Wearable Injectors Market: Segmental Overview
As per the scope of the report, the wearable injectors market is segmented by type, application, and end-user. Based on the application of wearable injectors market is differentiated into diabetes, oncology, cardiovascular disease, autoimmune disease, and other applications. The oncology segment held the largest share of the market in 2019. However, the autoimmune disease segment is estimated to register the highest CAGR of 12.6% in the market during the forecast period.
Wearable injectors are witnessing a considerable increase in their adoption across the healthcare industry due to their benefits, such as a reduction in disease progression and pain in cancer patients. The development of drugs with formulations of more than 1ml has led to the adoption of auto-injectors, as these formulations are painful to inject using conventional methods. Wearable injectors are being used more when a higher dose of the drug is to be delivered over an extended period compared to daily injections. For instance, Neulasta Onpro is designed to provide Neulasta the next of chemotherapy automatically and saves the trip to the hospital. Most patients can spend the day after intense chemo at home. It is being used by over 600,000 patients and is designed to automatically deliver a dose above 45 minutes, about 27 hours after application.
Go through further research published by The Insight Partners:
Off Body Wearable Injectors Market - Global Analysis and Forecast to 2030
Ultra-Large Volume Wearable Injectors Market - Global Analysis and Forecast to 2030
Self Injection Device Market - Global Analysis and Forecast to 2030
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