Wearable Injectors Market - Insights
The increasing prevalence of various chronic diseases, rising concern for injuries caused due to needles and increasing demand for round the clock monitoring are expected to drive the growth of the market during the forecast period. Additionally, the technological advancements in wearable injectors and growing geriatric population are likely to boost the market growth. On the other hand, preference for traditional methods of drug administration and lack of skilled labor who can instruct patients about wearable injectors and its usage may hinder the growth of the market during the forecast period.
The Global Wearable Injectors Market is currently dominated by many market players. The key players in the market are engaged in new product launches and strategic collaborations to strengthen its market position. For instance, in June 2014, SteadyMed Therapeutics, Inc. entered into a strategic agreement with Bespak Europe Ltd., a European manufacturer of medical devices, to develop and produce Trevyent. Trevyent is a wearable injector with PatchPump-based technology that works on an expanding battery to take the drug out of a flexible primary drug container.
Wearable Injectors are medical devices designed to dispense large doses of the drug. They are also known as bolus injectors or patch pumps. Wearable injectors are used to subcutaneously administer insulin and other drugs that require large dose volumes and extended delivery period. Wearable Injectors are user-friendly, convenient and they lessen the need for multiple painful injections. It is estimated that the global market is expected to register a CAGR of ~ 15.2% during the forecast period from 2018 to 2023.
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Wearable Injectors Market - Key Players
Some of the key players in the Global Wearable Injectors Market are West Pharmaceutical Services, Inc., Valeritas, Inc., Eli Lilly and Company, YPSOMED, Amgen Inc., Becton, Dickinson and Company (BD), CeQur SA, SteadyMed Therapeutics, Inc., BioSpace, Enable Injections, and Sensile Medical AG.
Wearable Injectors Market - Segmentation
For enhanced understanding, the report has been segmented into six key dynamics.
By Type: On-body, Off-body, and Hand-held Wearable Injectors.
By Usage: Disposable and Semi-reusable.
By Mechanism of Injection: Spring-based, Motor Driven, Rotary Pump, Expanding Battery, Pressurized Gas, and Collapsible Reservoir among others.
By Therapeutic Area: Oncology, Infectious Diseases, Cardiovascular Diseases, Autoimmune Diseases, and Diabetes among others.
By End-user: Hospitals, Clinics, Homecare, and Ambulatory Surgery Centers among others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Industry/Innovation/Related News:
February 08, 2019 - West Pharmaceutical Services, Inc. (the US), one of the world’s largest manufacturers and sellers of containment and delivery systems for injectable drugs and healthcare products announced its plans of partnering with Swissfillon AG (Switzerland), a provider of aseptic fill and finish services to pharmaceutical and biotechnology companies for Clinical Filling of SmartDose® Drug Delivery Platform.
The partnership that is intended to lead to a non-exclusive global collaboration to provide fill-finish capabilities to customers using West’s proprietary SmartDose drug delivery platform for complex molecules. Through the collaboration, it is anticipated that West will be able to deliver an integrated solution with filled Daikyo Crystal Zenith® cartridges for the SmartDose wearable injector.
January 29, 2019 - scPharmaceuticals Inc. (the US), a clinical-stage pharmaceutical company, engages in the development and commercialization of various pharmaceutical products announced its partnership with West Pharmaceutical Services, Inc. (the US), one of the world’s largest manufacturers and sellers of containment and delivery systems for injectable drugs and healthcare products to incorporate West’s SmartDose Drug Delivery System with the its (SC’s) lead drug FUROSCIX (furosemide), in development for treating edema in heart failure patients.
Wearable Injectors Market - Regional Analysis
The market in the Americas is expected to dominate the global wearable injectors Market during the forecast period owing to the presence of well-established healthcare infrastructure and advanced technologies to administer drugs for the treatment of chronic diseases like diabetes. According to the National Diabetes Statistics Report 2017, an estimated 30.3 million people of all ages had diabetes in the US in 2015. The European market is expected to be the second-largest due to the growing medical devices industry in France, Germany & the UK and the rising opportunities for the market players. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the assessment period owing to favorable government initiatives for the medical devices industry. The market in the Middle East & Africa is likely to account for the smallest share of the global wearable injectors market. The market growth in this region can be attributed to the rising research and development activities in the region.
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