How Is Rising Need for Better Patient Care Driving Wearable Injectors Market Growth?

Factors such as the rising requirement for advanced drug delivery and the burgeoning need for better patient care will drive the wearable injectors market at a robust CAGR, of 23.0%, during the forecast period (2016–2024). According to P&S Intelligence, the market was valued at $2,162.1 million in 2015, and it is expected to generate $13,015.9 million revenue by 2024. Currently, the surging use of wearable injectors for treating chronic diseases is becoming a key market trend.

At present, the wearable injectors market is consolidated in nature, due to the presence of a few players such as Becton, Dickinson and Company, Insulet Corporation, West Pharmaceutical Services Inc., Unilife Corporation, Medtronic plc, Enable Injections, Johnson & Johnson, SteadyMed Ltd., F. Hoffmann-La Roche Ltd., and Ypsomed Group. The market players are focusing on collaborations to offer new solutions for their clientele. For instance, in June 2016, Ypsomed collaborated with Novo Nordisk to provide novel solutions for insulin pump therapy.

Geographically, North America held the largest share in the wearable injectors market in 2015, due to the booming demand for self-injection systems and the surging incidence of lifestyle-associated and chronic diseases, in the region. For instance, the Centers for Disease Control and Prevention (CDC) stated that cancer was the second leading cause of death in the U.S. and accounted for 599,601 deaths in the country in 2019. In the North American market, the U.S. is expected to generate higher revenue in the coming years.

Thus, the rising prevalence of chronic ailments, especially among geriatric population, and the surging need for better patient care will propel the demand for wearable injectors, globally.

This study covers

  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
  • Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
  • Major players operating in the market and their service offerings

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