The market for wearble injectors is evolving rapidly and in a way that transforms the healthcare industry. A variety of factors shape the market dynamics of the industry, like technological breakthroughs, growing base of chronic conditions, patient engagement in self-administration, and trend of patient-centered medicine care.
Technological breakthroughs are the key factors that boost the evolution of the wearable injectors market. These gadgets that are able to adjust dose on its own and make to use them user-friendly are quite important instruments that patients can apply to themselves. Incorporation of these cutting-edge technologies, including connectivity, sensors, and dose tracking capabilities, facilitates better patient experience via continuous data provision to both patients and medical staff.
The rising incidences of chronic diseases including diabetes, cardiovascular disorders, and autoimmune disease represents a central determinant factor for the expansion and dynamics of the wearable injectors market. Since the world's demand for chronic disease management increases, a pressing issue arises in the quest for efficient and user-friendly drug delivery techniques. The wearable injectors are developed to apply the long-acting therapies in a way which is convenient and reliable. This facilitates medication compliance and ensures better management of disease.
Another influencing factor of market dynamics is the increasing power of patients in managing their health and the shift toward patient-centered care. However, wearable injectors do not go against a general trend of patient engagement and self-management, where patients can take part in the treatment on their own. The numerous advantages of wearable injectors such as, ease of use and portability, further enhance the patient-centric drug administration procedure.
Regulations remain the most important regulatory factors in defining the development of the wearable injectors market. Tough rules and standards makes sure that devices are safe, effective and of high quality by design. Compliance with these requirements on to the getting of market approval is necessary and the building of trust between healthcare professionals and patients. The regulatory issues are in the way too of the introduction of additional features and technologies aimed to improve the functionalities of injectors.
The wearable injectors market is also impacted by a number of economic parameters and health care remuneration policies. The economic viability of the injectors and the reimbursement systems influence the adoption process of the wearable injectors by healthcare systems and providers. The cost and availability of these entities in healthcare systems are the factors that determine their popularity and usage in various hospitals.
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The wearable injectors market has been segmented into type, usage, mechanism of action, therapeutic area, and end-user.
The wearable injectors market, on the basis of type, has been segmented into on-body wearable injectors, off-body wearable injectors, and hand-held wearable injectors.
The wearable injectors market, by usage, has been segmented into disposable and semi-reusable.
The market, by mechanism of action, has been segmented into spring based, motor driven, rotary pump, expanding battery, pressurized gas, and collapsible reservoir.
The market, by therapeutic area, has been segmented into oncology, infectious diseases, cardiovascular diseases, autoimmune diseases, diabetes, and others.
The market, by end-user, has been segmented into hospitals, clinics, homecare, ambulatory surgery centers, others.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The wearable injectors market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European wearable injectors market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.Â
The wearable injectors market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The wearable injectors market in the Middle East & Africa has been segmented into the Middle East and Africa.
Key players
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 are some of the key players in the wearable injectors market.
Regional Market Summary
Wearable Injectors Market Share (%), by Region
Source: World Health Organization (WHO), Centers for Disease Control and Prevention (CDC)
Geographically, the Americas is anticipated to dominate the wearable injectors market owing to a well-developed healthcare sector, rising prevalence of autoimmune and chronic disease and growing healthcare expenditure. According to a report published by American Autoimmune Related Diseases Association (AARDA) in April 2017, in the US approximately 50 million people i.e. nearly 20% population suffer from autoimmune diseases. Additionally, government funding in this region contributes to the growth of the market.
Europe is expected to hold the second largest position in the wearable injectors market. The market growth in this region is attributed to the growing prevalence of chronic diseases, the availability of funds for research, and increasing healthcare expenditure. According to a report published by the NSD Alliance in July 2017, 1/3rd of the European population above the age of 15 years suffer from a chronic disease.
Asia-Pacific is anticipated to be the fastest growing region in the market due to the presence of a huge patient population, continuously developing economies, rising prevalence of chronic diseases like diabetes, cardiovascular diseases and increasing government funding for the healthcare sector. According to a study published in the Asian Pacific Journal of Tropical Biomedicine journal in 2014, it was estimated that about 150 million diabetic patients reside within the region, out of which more than 95% have type 2 diabetes mellitus.
On the other hand, the Middle East & Africa has the least share of the market. Majority of the market of this region is expected to be held by the Middle East region due to a well-developed healthcare sector and growing government initiatives for the healthcare sector.Recent Development
Intended Audience
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