Wearable Injectors Market Is Anticipated to Increase at a CAGR of 17.2% and Will Touch USD 18.3 Billion by 2028 | Grand View Research, Inc.

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According to a new report published by Grand View Research, the research studies have shown that non-adherence to medications can account for about 50% of treatment failures, 125,000 deaths, and up to 25% of hospitalizations each year in the U.S. In such cases, wearable injectors manufacturers are expected to play a key role to develop patient-centric devices.

The global wearable injectors market size is expected to reach USD 18.3 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 17.2% from 2021 to 2028. Wearable injectors are drug administration devices designed to deliver drugs in large volumes subcutaneously. It is gaining popularity owing to its advantages such as reduced pain, ease of administration, and elimination of costly health facility visits.

Over the last decade, patient interest in the self-administration of injectable drug therapies has grown. The increasing prevalence of diabetes, chronic pain, and auto-immune diseases, such as rheumatoid arthritis, is increasing the use of wearable injectors. Their demand is increasing for the long-term management of asthma, chronic obstructive pulmonary disease (COPD), high cholesterol, and cancer. This is expected to create a lucrative opportunity for advanced device manufacturers to make wearable devices used to administer larger dose volumes at the comfort of home.

The recent COVID-19 pandemic has brought remote care technologies, such as wearable injectors, into the spotlight. Demand for chronic disease products remains largely unaffected by the pandemic. Since wearable injectors serve with the option of delivering medications at home, its demand has also remained stable or rather grown for the short term. Patients suffering from chronic diseases are opting for these devices as it reduces the risk of exposure to COVID-19 by eliminating hospital visits. The pandemic has, however, affected some of the devices in the pipeline, affecting short-term investments. Leading players who continue to invest in innovation push projects forward despite COVID-19 are expected to put their companies in a stronger competitive position post-crisis.

 

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Wearable Injectors Market Report Highlights

By type, the on-body segment led the market in 2020 owing to its advantage to be worn on the skin
The spring-based technology segment held the largest share of 36.3% in 2020 due to a rise in demand for adhesive patches for the treatment of chronic conditions, such as cancer and diabetes
The home care end-use segment led the market in 2020. This can be attributed to a rise in preference for self-administration, especially during the COVID-19 pandemic
North America dominated the market with a share of 41.5% in 2020 owing to the rising prevalence of chronic diseases

 

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Wearable Injectors Market Segmentation

Grand View Research has segmented the global wearable injectors market based on type, technology, application, end-use, and region:

Wearable Injectors Type Outlook (Revenue, USD Million, 2016 – 2028)

On-body
Off-body

Wearable Injectors Technology Outlook (Revenue, USD Million, 2016 – 2028)

Spring-based
Motor-driven
Rotary Pump
Expanding Battery
Others

Wearable Injectors Application Outlook (Revenue, USD Million, 2016 – 2028)

Oncology
Infectious Diseases
Cardiovascular Diseases
Autoimmune Diseases
Others

Wearable Injectors End-use Outlook (Revenue, USD Million, 2016 – 2028)

Hospitals
Clinics
Home Care
Others

Wearable Injectors Regional Outlook (Revenue, USD Million, 2016 – 2028)

North America
U.S.
Canada
Europe
U.K.
Germany
France
Asia Pacific
Japan
China
Latin America
Brazil
Mexico
Middle East & Africa
South Africa

List of Key Players of Wearable Injectors Market

Becton, Dickinson and Company
Johnson & Johnson Services, Inc.
F. Hoffmann-La Roche Ltd.
Unilife Corporation
SteadyMed Therapeutics, Inc.
Amgen, Inc.
Insulet Corporation
Enable Injections
West Pharmaceutical Services, Inc.
CeQur SA

 

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About Grand View Research

 

Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.

Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.

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