Wearable Injector market to Grow at a CAGR of 12%

The global wearable injector market is expected to grow at a CAGR of 12% CAGR during the forecast period of 2021 to 2029. These devices permit the injection of large volume of dosage via subcutaneous route for long duration, which offers benefits to drug developers, clinicians and patients.

The latest market report published by Acute Market Reports “Wearable Injector market” Growth,Guest Posting Future Prospects, and Competitive Analysis, 2019-2029” wearable Injector market expected to grow at a CAGR of 12% during the forecast period from 2021 to 2029.

Recent years have seen ground breaking advances in pharmaceutical development, with increasingly innovative treatment option being introduced in the healthcare industry. However, the cost and complexity of these novel drugs has intensified the pressure to shift medication administration from traditional settings to more cost-effective alternatives. One such alternative is the patient’s own home, where life-altering molecules are now regularly self-administered subcutaneously to treat chronic diseases, such as rheumatoid arthritis, multiple sclerosis, and dyslipidaemia among others. Pharmaceutical companies have worked to develop highly concentrated monoclonal antibodies to improve treatment options for these chronic diseases. At the same time, they are looking to ease the burden on patients by reducing injection frequency and enabling home-based delivery. Although this new paradigm holds tremendous potential, it also brings new challenges in drug delivery, which requires innovative solutions to effectively address them.

For the purpose of this study, the global wearable injector device market is segmented on the basis of usage, product, technology, therapeutic area & end users. Injector type is further segmented into On Body & off Body. On Body wearable injectors dominate the segment, however, off body injectors are expected to witness faster growth. Based on Usage devices are further segmented into Disposable & Reusable devices. By therapeutic area devices are segmented into oncology, diabetes, cardiovascular diseases, autoimmune disorder, infectious diseases & others. Oncology remains to be the key therapeutic segment due to higher prevalence rate. By product the market is segmented on the basis of on body and off body segment. By technology the segment is based on Motors, Batteries/Springs. Market size estimates and forecast for these segments for the period 2019 to 2029 are provided in terms of US$ Mn along with the respective compounded annual growth rates (CAGRs) for the period 2021 to 2029, considering 2020 as the base year.

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Wearable injectors present a robust solution to the challenge of delivering SC injections of increasing dosing volumes and viscosities in non-clinical settings. Introducing robust, innovative technologies will allow more patients to enjoy the convenience of injecting at home. In addition, the ability to accommodate new formulations with higher volume and/or viscosity will enable less-frequent injections, improve the patient experience, and potentially increase adherence to therapies.

North America dominated the market with a share of about 42% in 2020 owing to the rise in prevalence of chronic diseases. Asia-Pacific was observed as one of the key markets for Wearable Injector due to the existence of massive pool of innovation and development of technology in regions such as Japan and China. In nations such as Latin America and Middle Eastern Africa, the accessibility and development of technology is still in progress, thus these nations promise significant potential during the forecast period.

ATS Automation Tooling Systems, Enable Injections, Stevanato Group, Mikron, Vancive Medical Technologies, Noble, Subcujet, Sorrel, Mitdubishi Gas Chemical, Sensile medical, Sonceboz, Ypsomed self care solutions, Elcam Drug delivery devices are some of the leading companies in Wearable’s Injector Market.