According to our new research study on “Wearable Injectors Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type, Application, and End User,” the wearable injectors market size is expected to reach US$ 13,880.88 million by 2027 from US$ 5,791.23 million in 2019. It is estimated to grow with a CAGR of 11.6% during 2020–2027. The report highlights wearable injectors market trends and factors driving the global wearable injectors market growth. The growth of wearable injectors market is attributed to increasing chronic diseases prevalence, technological advancements and design development, and conventional drug delivery system limitations. However, low rate of adoption in emerging countries is expected to restrain the growth of global wearable injectors market.
In 2019, North America accounted for the largest wearable injectors market share. The market growth in the region is attributed to presence of key market players, growing product developments, and technological advancements for the treatment of diseases. Asia Pacific is estimated to be the fastest-growing region during the forecast period owing to the increasing prevalence of chronic diseases, growing number of companies focusing on Asia Pacific countries for their expansion, and research in the field of wearable medical devices.
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Increasing Demand for Biologics Fuel Global Wearable Injectors Market Growth
One of the primary growth opportunities for wearable injectors is that large number of biologics are currently in development. A majority of these are highly viscous and require to be delivered in volumes greater than 1 ml. The absence of devices that can safely administer these drugs is currently a significant unmet need in the market. Moreover, many drug manufacturers have started working in this direction. A growing focus on the use of biologics to treat diseases such as rheumatoid arthritis, and cancer will provide significant growth opportunities for wearable injectors as these drugs need to be administered via the parenteral route. The biologic drugs consist of mega-molecules that are hundreds of times the size of conventional small molecule drugs. These wearable large-volume injectors have brought a new product development that reduces formulation time and effort by allowing a simpler product preparation method. Their efficacy in self-administration is expected to make wearable injectors a prominent choice for the delivery of biologics. As a result, these factors are likely to increase the growth of global wearable injectors market during the forecast period.
Global Wearable Injectors Market: Competitive Landscape and Key Developments
BD; Insulet Corporation; Gerresheimer AG; West Pharmaceutical Services, Inc.; Ypsomed AG; Tandem Diabetes Care, Inc.; Cequr SA; Debiotech S.A; E3D Elcam Drug Delivery Devices; and Zealand Pharma A/S are among the leading companies operating in the global wearable injectors market. Several companies are implementing organic strategies, such as products launch and expansions. Inorganic growth strategies witnessed in the market were partnerships and collaborations. These growth strategies have aided market players in expanding their businesses, geographical presence, and strengthening their customer base. The global wearable injectors market size is anticipated to flourish with such developments by market players.
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