September 23, 2022 05:59 ET | Source: Facts & Factors Facts & Factors
TOKYO, JAPAN, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Wearable Injectors Market Size, Share, Growth Analysis Report By Type (On-Body Injector, Off-Body Injector), By Technology (Spring Based, Motor Based, Rotary Pump, Expanding Battery, Other Technology), By Therapy (Immuno-Oncology, Diabetes, Cardiovascular Disease, Other Disease), By End User (Hospitals and Clinics, Home Healthcare Setting), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Wearable Injectors Market size & share was valued at approximately USD 5,284.10 million in 2021. The market is expected to grow above a CAGR of 16.90% and is anticipated to reach over USD 13,485.22 million by 2028.”
The report analyses the market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Wearable Injectors market.
Wearable injectors, called patch pumps, are condensed drug delivery systems designed for longer-term, one-step medication administration. They are drug delivery devices that attach to the body and automatically dispense patients' prescribed doses at the appropriate time. The drug is subcutaneously given over a pre-programmed period of seconds or hours using wearable injectors, single-use devices conveniently worn on the body. They administer huge quantities of sticky drugs via the body's subcutaneous tissues more swiftly and securely. The entire dose is injected, and then they are removed from the body and properly disposed of. Such devices have been made possible by the notion of patient centricity and a greater focus on human considerations in drug delivery design.
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Key Insights from Primary Research
The report contains qualitative and quantitative research on the global Wearable Injectors Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global Wearable Injectors market include:
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The major factors driving the global wearable injector market growth are an increase in the prevalence of chronic diseases like diabetes, cardiovascular disease, cancer, and more; an increase in the use of biologics like monoclonal antibodies for treating diseases; and an increase in R&D activities for wearable injector devices like Bluetooth connectivity with smartphones and digital displays. A rise in the demand for home-based treatments and an increase in the number of senior patients both contribute to the market's expansion. Well-established healthcare infrastructure and the rise in the frequency of disorders linked to a sedentary lifestyle are additional factors driving market expansion. However, it is anticipated that low demand in developing countries and the expensive cost of wearable injectors will impede market expansion.
Additionally, a rise in public-private funding for targeted research initiatives, an increase in demand for minimally invasive surgeries, an increase in children's participation in sports, and an increase in product novelties & development due to global technological advancements will prolong profitable periods for market players during the forecast period. The market will grow faster due to expanding internet penetration, rising arthroscopic surgery use, rising aged & obese populations worldwide, and rising per capita health care spending.
Wearable Injectors Market: COVID-19 Impact Analysis
Due to the risk of patients being exposed to COVID-19, it is recommended that patients self-administer their medications at home. This is especially true for patients who are dealing with chronic conditions. Aside from providing acute care, healthcare providers also save resources for patients infected with COVID-19 at no additional cost. Because of this, there is a growing demand for wearable injectors and other forms of remote care equipment. In light of this, it is anticipated that the market for wearable injectors will expand in a measured and optimistic manner during this time period, despite the widespread spread of COVID-19.
Browse the full “Wearable Injectors Market Size, Share, Growth Analysis Report By Type (On-Body Injector, Off-Body Injector), By Technology (Spring Based, Motor Based, Rotary Pump, Expanding Battery, Other Technology), By Therapy (Immuno-Oncology, Diabetes, Cardiovascular Disease, Other Disease), By End User (Hospitals and Clinics, Home Healthcare Setting), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/wearable-injectors-market
Wearable Injectors Market: Segmentation Analysis
The global wearable injector market is segmented on type, technology, therapy, end user, and region.
Based on type, the market is divided into the on-body injector and off-body injectors. The on-body segment dominated the market in 2021. Based on technology, the market is categorized as motor driven, spring driven, expanding battery, rotary pump, and other technology. The spring-driven segment dominated the market in 2021.
Based on therapy, the market is divided into diabetes, immuno-oncology, cardiovascular disease, and other diseases. The diabetes segment dominated the market in 2021. Based on end-user, the market is divided into hospitals, clinics, and home care settings. The home care settings segment dominated the market in 2021.
In 2021, North America dominated the global wearable injectors market due to chronic illnesses and disorders linked to lifestyle becoming more common. Additionally, rising medical costs and investments in the construction of healthcare infrastructure are anticipated to fuel the global wearable injector’s market expansion. Around 37 Million Americans have diabetes, and 90 to 95% of them have type 2, according to the CDC.
Additionally, the market is anticipated to grow due to the local presence of key market participants in the U.S., including Becton, Johnson & Johnson Services, Inc., Unilife Corporation, Dickinson and Company, Steady Med Therapeutics, Inc., Amgen, Inc., and Enable Injections. Developing various innovative drugs that can effectively treat chronic illnesses fuels the desire for wearable injectors. Additionally, the industry may benefit due to the increased popularity of customized medications.
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The global Wearable Injectors market is segmented as follows:
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