Research Nester released a report titled “Wearable Injectors Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global wearable injectors market in terms of market segmentation by type, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global wearable injectors market is projected to grow with a moderate CAGR during the forecast period, i.e., 2022-2030, on account of the increasing prevalence of chronic medical conditions worldwide, growing geriatric population and advancements in drug delivery injectors technology. As per the statistics of the Organization for Economic Co-operation & Development (OECD), in 2019, about 33% of the total population of OECD countries with age 15 years or more had two or more chronic conditions, and the number increased to 58% in persons with age more than 65 years.
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The market is segmented by type into on-body and off-body. Among these segments, the on-body segment is anticipated to hold the largest share over the forecast period on the back of the greater demand for on-body injectors owing to the presence of multiple features such as water resistance and ease of operation. Additionally, on the basis of end-user, the home care settings segment is expected to grow significantly in view of the growing emphasis on self-administration of drugs by individuals at home care settings to minimize hospital expenditure.
On the basis of region, the global wearable injectors market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which the market in Asia Pacific is projected to grow at the highest CAGR throughout the forecast period owing to growth in geriatric population in Japan and China and the rising prevalence of chronic disorders in the region.
Increasing Prevalence of Chronic Medical Conditions Worldwide and Advancements in Drug Delivery Injectors Technology to Drive Market Growth
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The surge in the elderly population globally is directly associated with the rise in the prevalence of chronic disorders such as cancer, diabetes, and cardiovascular conditions on a global scale. Wearable injectors offer an innovative solution to the problem of delivering subcutaneous injections of higher-dose volume and viscosity in home-care settings. The capability of wearable injectors to include new formulations lessens the frequency of injections, which in turn is anticipated to augment the market growth over the forecast period.
However, the advent of other drug delivery systems and the absence of reimbursement policies in low and middle-income regions for wearable injectors are some of the factors that are estimated to restrain market growth in the near future.
This report also provides the existing competitive scenario of some of the key players of the global wearable injectors market, which includes company profiling of Amgen Inc., Insulet Corporation, YPSOMED AG, Becton, Dickinson and Company, Tandem Diabetes Care, Inc., Enable Injections, Inc., West Pharmaceutical Services, Inc., Medtronic plc, Q Core Medical Ltd., United Therapeutic Corporation, and others. The profiling enfolds key information of the companies, which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts detailed overview of the global wearable injectors market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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