Market Analysis
The last of couple of years have seen an ever-increasing interest and demand in wearable injectors. This in turn has boosted the growth of the wearable injectors market considerably. It is projected to grow at a whopping 15.2% CAGR over the forecast period (2018-2023). Wearable injectors represent a novel class of injectable drug delivery system. It can be worn on the patient’s body as it delivers into the body the prescribed drug. As opposed to an insulin pump, a wearable injector is designed for just a single use. Post pushing the injection, the patient can peel it off and discard it. A wearable injector is largely used for delivering biologic drugs which a patient cannot administer through the standard handheld device. Most of these devices are used for treating autoimmune diseases such as Crohn’s disease/IBD, rheumatoid arthritis, psoriasis and for insulin delivery. A wearable injector is convenient, user-friendly and will reduce the requirement for numerous painful injections. Also known as patch pumps or bolus injectors, the wearable injectors are utilized for subcutaneously administering insulin as well as other drugs which need extended delivery period and large dose volumes.
There are many factors that is fueling the growth of the Wearable Injectors Market Size. The different market trends and factors in this market according to an analysis performed by Market Research Future (MRFR) include upsurge in diabetes and cancer cases, use of cutting-edge technological products, rise in the incidence of needlestick injuries, growing need for 24/7 monitoring, shift to injectables that can be self-administered and prevalence of diseases that are lifestyle-associated such as hypertension and diabetes. On the contrary, lack of skilled labor is likely to hamper the wearable injectors market growth.
Market Segmentation
In the Market Research Future (MRFR) report, the wearable injectors market has been segmented on the basis of type, usage, mechanism of action, therapeutic area and end-user.
Based on type, the market can be segmented into hand-held wearable injectors, off-body wearable injectors and on-body wearable injectors. Of these, the on-body wearable injectors will have the maximum market share.
Based on usage, the wearable injectors market is segmented into semi-reusable and disposable.
Based on the mechanism of action, it is segmented into collapsible reservoir, pressurized gas, expanding battery, rotary pump, motor driven and spring based.
Based on therapeutic area, it is segmented into diabetes, autoimmune diseases, cardiovascular diseases, infectious diseases and oncology. Of these, the autoimmune diseases are anticipated in being the fastest growing during the predicted years.
Based on end-user, the wearable injectors market is segmented into ambulatory surgery centers, homecare, clinics, hospitals and others. Of these, homecare is predicted to have the maximum market share.
Regional Analysis
Based on region, the Wearable Injectors market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Middle East and Africa. Of these, North America will dominate the market due to advanced technologies for administering drugs to treat chronic diseases such as diabetes and the existence of superior healthcare infrastructure. Europe holds the second position owing to the developing medical devices industry in the UK, Germany and France coupled with the increasing opportunities for market players. In the APAC region, the wearable injectors market is projected in being the fastest developing over the forecast period due to good government initiatives taken for the medical device industry. In the Middle East and Africa, the market is expected to have a minimum share. The growth of the wearable injectors market in this region is due to increasing R&D activities here.
Key Players
Leading players profiled in the wearable injectors market include Sensile Medical AG, BioSpace, Enable Injections, SteadyMed Therapeutics, Inc., CeQur SA, Dickinson and Company (BD), Amgen Inc., Becton, YPSOMED, Eli Lilly and Company, Valeritas, Inc., and West Pharmaceutical Services, Inc.
Jan 2019- Enable Injections, a Cincinnati based company has come up with its latest painless wearable injector. A little bigger than a cookie, this injector will enable patients in self-administering drugs through the touch of a button. This latest innovation will help in eliminating the requirement for those long intravenous treatments given at the doctor’s office thereby allowing patients to comfortably self-administer treatment and in accordance to their time. In fact, the biggest perk of this needle is it is never exposed and is of the smallest size possible. This needle will help in controlling pressure as well as the flow rate that in turn will reduce the pain related to the procedure.
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