Wearable Injectors Market by Product and Geography - Forecast and Analysis 2020-2024
Global Wearable Injectors Market: About this market
Technavio’s wearable injectors market analysis considers sales from on-body wearable injectors and off-body wearable injectors products. Our study also finds the sales of wearable injectors in Asia, Europe, North America, and ROW. In 2019, the on-body wearable injectors segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the convenience of self-administration of drugs and increasing prevalence of cancer, diabetes, and other chronic diseases will play a significant role in the on-body wearable injectors segment to maintain its market position. Also, our global wearable injectors market report looks at factors such as increasing prevalence of chronic diseases, increasing number of new product launches, and increasing demand for self-administrative drug delivery devices. However, presence of alternative methods for drug delivery, high costs associated with wearable injectors, and cybersecurity concerns related to wearable injectors may hamper the growth of the wearable injectors industry over the forecast period.
Global Wearable Injectors Market: Overview
Increasing demand for self-administrative drug delivery devices
Specific drug delivery systems have recently become available for patients, which facilitate self-administration and thus, ensure patient’s adherence to medication. Self-administration of drugs improves health outcomes and reduces the admission rate at hospitals and clinics for regular treatment. A wearable injector is a specific type of self-injector drug delivery device that is widely accepted by healthcare professionals and patients worldwide. Thus, the increasing demand for self-administrative drug delivery devices will lead to the expansion of the global wearable injectors market at a CAGR of almost 11% during the forecast period.
Technological advancements in wearable injectors
Wearable injectors are preferred self-injection devices, which are primarily used in healthcare settings for the treatment of patients with diabetes, cancer, arthritis, and autoimmune diseases. They are widely accepted by patients with diabetes and pain due to various medical reasons. These advanced injectable devices facilitate accurate and automatic delivery of drugs in high volume and with high viscosity. Most pharmaceutical and medical device companies are focusing on new technologies that can enhance the effectiveness and accuracy of the medication by minimizing the frequency of injections for drug delivery with regular injectors and syringes. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global wearable injectors market during the forecast period 2020-2024, click here.
With the presence of several major players, the global wearable injectors market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading wearable injectors manufacturers, that include Amgen Inc., Becton, Dickinson, and Co., Enable Injections Inc., Gerresheimer AG, Insulet Corp., Medtronic Plc, Tandem Diabetes Care Inc., Valeritas Inc., West Pharmaceutical Services Inc., and Ypsomed AG.
Also, the wearable injectors market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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