Transparency Market Research

Wearable Injectors Market: Boosting the Healthcare Industry Worldwide 2018-2026

 

Albany, NY -- (SBWIRE) -- 05/04/2018 -- Wearable Injectors Market: Overview

Wearable injectors (also known as patch pumps or bolus injectors) are drug delivery devices created for single-use. Wearable injector are used for the subcutaneous injection of insulin and other drugs with extended delivery periods or requiring large dose volumes. Most of the wearable injectors are used for insulin delivery among the diabetes patients and the treatment of autoimmune diseases such as psoriasis, rheumatoid arthritis, and IBD/Crohn’s disease. Wearable injector therapies are considered as substitute for the products such as standard prefilled syringe, insulin pumps, and injection pens. Unlike insulin pumps, wearable injectors does not need a tubing that delivers insulin directly from a patch. Wearable injectors are disposable drug delivery systems that are easily worn on the patient’s body. These devices are simple to use with preset with precise amount of insulin to the body over particular period of time. Also, it can be programed for individual diabetes patient’s basal rates with a bolus calculator that helps store drug delivery data. Many manufacturers are focusing on introducing wearable injectors with connectivity to a variety of software platforms.

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Prevalence of diseases such as rheumatoid arthritis, diabetes, psoriasis and IBD/Crohn’s disease are expected to grow exponentially globally owing to factors such as changes in lifestyle and various factors such as genetic mutations, malnutrition, and others. According to various government and private organizations operating in the diabetes industry, diabetes is considered one of the top fatal diseases. For instance, according to the American Diabetes Association, diabetes accounts for approximately 71,000 deaths in the U.S. each year. Increasing incidences of T1D among kids is a major healthcare concern. For instance, according to the IDF, in 2015, Europe had 140,000 kids (0-14 years) with T1D, and 21,600 new cases are diagnosed every year. Increasing advantages of wearable injectors over the traditional drug delivery products such as syringes, injection pens and insulin pumps along with increasing awareness programs are the other factor that boost the demand for wearable injectors in upcoming forecast period. However, the gradually increasing adoption of alternative products such as insulin pumps and injectable pens products hampers the growth of wearable injectors market.

The wearable injectors market has been segmented by product type, by application, distribution channels, and by geography. In terms of product type, wearable injectors market has been categorized into body-worn patch injector and off-body worn belt injector. Based on application, wearable injectors market is classified into diabetes, oncology, auto-immune disorders, infectious diseases, and others (neurology, etc.). Based on distribution channels, wearable injectors market segmented into hospital pharmacy, online sales, retail pharmacy, and specialty clinics/ diabetes centers.

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Geographically, the wearable injectors market is classified into regions namely, North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. Europe dominated the global market for wearable injector products due to the highest awareness among type- diabetes population and early launch of technological advanced connected wearable injectors. The developed countries such as Germany, U.K. and France are the major contributor to Europe wearable injectors market. Europe occupies the substantially larger market share of global wearable injectors market, which is followed by North America. Factors such as large number of people diagnosed with diabetes, technological advancements, extensive R&D practices, and increasing awareness about the treatment and management of diabetes among type-1 patients boost wearable injector’s market growth in North America. In Asia Pacific region, increasing demand for wearable injector product from countries such as China, India, and Japan is expected to boost the wearable injectors market. In addition, increased incidences of diabetes and increasing penetration of injection pens over syringes are some of the key factors driving the Asia Pacific wearable injectors market. However, affordability and lack of availability for innovative wearable injector products has become a restraining factor for wearable injectors market in developing and undeveloped regions such as Latin America and Middle East & Africa. Despite of this, wearable injectors market in these regions is expected to witness gradual growth with contribution of some developing countries such as South Africa and Brazil. The major players operating in this market include Amgen Inc., Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd., Valeritas, Inc., Unilife Corporation, Insulet Corporation, Ypsomed Group, West Pharmaceutical Services, Inc., CeQur SA., SteadyMed Therapeutics, Inc., among other significant players worldwide.

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