The key factors driving the growth of this market are the growing prevalence of chronic diseases (such as cancer, diabetes, and cardiovascular diseases), favorable reimbursement scenario in major markets, and technological advancements in injector devices.
The Wearable
Injectors Market is projected to reach
USD 9.41 billion by 2023 from USD 5.57 billion in 2018, at a CAGR of 11.1%
during the forecast period.
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Market
Segmentation:-
On the basis of type, the Wearable Injectors Industry is
segmented into on-body and off-body injectors. The on-body injectors segment is
expected to account for the larger market share in 2018, while the off-body
injectors segment is projected to witness the highest growth rate during the
forecast period. The drawbacks associated with on-body wearable injectors, such
as painful removal, skin sensitivity issues and irritation, and adhesive
fitting issues have resulted in the increased adoption of off-body injectors.
On the basis of therapy, the wearable injectors market is
segmented into immuno-oncology, diabetes, cardiovascular diseases, and other
therapies (Parkinson’s disease, thalassemia, and primary immunodeficiency
disorders). In 2018, the immune-oncology segment is expected to account for the
largest share of the wearable injectors market. This can be attributed to the
high prevalence of cancer across the globe.
Recent Developments:-
- In 2019, Amgen’s Repatha (evolocumab) device
options, including the Pre-Filled Syringe and Pushtronex available in the
US at a 60% reduced list price.
- In 2018, Amgen received EU approval for
Repatha.
- In 2018, Medtronic launched MiniMed670G for
diabetic patients
- In 2018, Insulet Corporation (US) partnered
with Glooko Inc. (US). According to the partnership, Insulet’s Omnipod
System user data will be connected with the Glooko+diasend platform in
order to review the blood glucose pattern of patients on smartphones.
Regional Analysis:-
In 2018, North America is expected to account for the
largest share of the wearable injectors market, followed by Europe.
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Key Players: -
The key players in the global Wearable Injectors Industry are
Amgen (US), Medtronic (Ireland), Insulet Corporation (US), Tandem Diabetes Care
(US), United Therapeutics Corporation (US), Valeritas (US), and SteadyMed
Therapeutics (US). The other prominent players in this market are Ypsomed
(Switzerland), Becton, Dickinson and Company (US), Enable Injections (US),
Sensile Medicals (Switzerland), and Bespak (UK).
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