Market Industry Reports (MIR) has published a new report titled “Wearable Injectors Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global wearable injectors market is estimated to be over US$ 4.5 Bn in 2017. It is anticipated to grow at a CAGR of 12.1% from 2019 to 2030.
Increasing adoption of wearable injectors can be attributed to rising awareness, disposable incomes, and implementation of advanced drug delivery technologies. Moreover, rising prevalence of chronic disorders is anticipated to contribute substantially to the growth of the global wearable injectors market between 2019 and 2030.Educational establishments, namely Wyss Institute, have initiated partnership with KeepSmilin4Abbie Foundation, to develop wearable devices for both swift detection of anaphylaxis and automated treatment of the same by means of epinephrine delivery.
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Major Players in the Wearable Injectors Market
The prominent players in the global wearable injectors market are Medtronic, Insulet Corporation, Tandem Diabetes Care, Amgen, Ypsomed, Becton Dickinson and Company, Enable Injections, Debiotech, Inc., Cellnovo, and Valeritas among others.
Increasing incidences of Chronic Disorders
The wide variation in regards to the prevalence of diverse forms of chronic disorders has rose significantly in recent times. It is estimated that the burden of chronic diseases in America is approximately 133 million, i.e. 45% Americans suffer from one or the other forms of chronic disease. According to the World Health Organization (WHO), chronic diseases are responsible for majority of deaths across the world. It has been approximated that the total number of deaths worldwide, resulting from cardiovascular diseases is a staggering 17.8 million annually. However, preventable nature of such diseases makes the treatment of such condition manageable with early detection and consistent treatment therapies. Increasing burden of chronic disorders on a global scale is anticipated to be a major driver for the global wearable injectors market, which is further anticipated to grow in the coming years.
Adoption of Biologics & Latest Technology
Drug delivery systems with capability to deliver drugs of high viscosity and varying dosage have gained immense popularity with the introduction of biologics. Increasing application and popularity of biologics is anticipated to contribute positively to the growth of the wearable injector market. Similarly, inclusion of latest technologies such as data connectivity, digitalization in healthcare systems, advanced feedback mechanism have been highly beneficial in bringing down human error and simultaneously increasing the overall efficiency of the drug delivery process. Introduction of innovative technologies and simultaneous application of these in drug delivery systems is expected to present an attractive growth prospect for the market in the times to come.
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Presence of Alternate Drug Delivery Modes to Restrain the Market
The presence of alternative modes for delivery of drugs is one of the major factors affecting the growth of the wearable injectors market. Ease of use and cost effectiveness are few factors which have established syringes as the preferred mode for drug delivery.
Rapid Growth of the Asia Pacific Market
Asia Pacific is estimated to witness the highest CAGR during the forecast period. Increasing population, continuously growing economy, increasing burden of chronic diseases and increasing adoption of technologies is anticipated to present a lucrative growth scenario for the wearable injectors market in this region. Furthermore, improving healthcare facilities, coupled with supportive government healthcare regulations and norms is expected to present an attractive growth prospect for the market in the coming years.
Table of Contents
- INTRODUCTION
- Market Definition
- Market Ecosystem
- Market Classification
- Geographic Scope
- Years Considered for the Study
- Historical Years – 2016 & 2017
- Base Year – 2018
- Forecasted Years – 2019 to 2030
- Currency Used for the Study
- Report Beneficiary List
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Methodology
- Bottoms Up Approach
- Top Down Approach
- Data Validation and Triangulation
- Market Forecasting Model
- Limitations of the Study
- Assumptions of the Study
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESMENT
- Overview
- Drivers
- Barriers/Challenges
- Opportunities
- UNIQUE SELLING PROPOSITIONS (USPs)
- Regulatory & Reimbursement Scenario Snapshot
- Application Horizon Assessment
- Technological Advancement
- Initiatives Assessment: Government & Private Bodies
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