Wearable Injectors Market Size, Share & Trends Analysis Report By Type (On-body, Off-body), By Technology (Spring-based, Motor-driven), By Application (Oncology, Autoimmune Diseases), By End Use, And Segment Forecasts, 2021 - 2028
New York, Feb. 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wearable Injectors Market Size, Share & Trends Analysis Report By Type, By Technology, By Application, By End Use And Segment Forecasts, 2021 - 2028" - https://www.reportlinker.com/p06025382/?utm_source=GNW
Wearable Injectors Market Growth & Trends
The global wearable injectors market size is expected to reach USD 18.3 billion by 2028. It is expected to expand at a CAGR of 17.2% from 2021 to 2028. Wearable injectors are drug administration devices designed to deliver drugs in large volumes subcutaneously. It is gaining popularity owing to its advantages such as reduced pain, ease of administration, and elimination of costly health facility visits.
Over the last decade, patient interest in the self-administration of injectable drug therapies has grown.The increasing prevalence of diabetes, chronic pain, and auto-immune diseases, such as rheumatoid arthritis, is increasing the use of wearable injectors.
Their demand is increasing for the long-term management of asthma, chronic obstructive pulmonary disease (COPD), high cholesterol, and cancer. This is expected to create a lucrative opportunity for advanced device manufacturers to make wearable devices used to administer larger dose volumes at the comfort of home.
The recent COVID-19 pandemic has brought remote care technologies, such as wearable injectors, into the spotlight.Demand for chronic disease products remains largely unaffected by the pandemic.
Since wearable injectors serve with the option of delivering medications at home, its demand has also remained stable or rather grown for the short term.Patients suffering from chronic diseases are opting for these devices as it reduces the risk of exposure to COVID-19 by eliminating hospital visits.
The pandemic has, however, affected some of the devices in the pipeline, affecting short-term investments. Leading players who continue to invest in innovation push projects forward despite COVID-19 are expected to put their companies in a stronger competitive position post-crisis.
Wearable Injectors Market Report Highlights
• By type, the on-body segment led the market in 2020 owing to its advantage to be worn on the skin
• The spring-based technology segment held the largest share of 36.3% in 2020 due to a rise in demand for adhesive patches for the treatment of chronic conditions, such as cancer and diabetes
• The home care end-use segment led the market in 2020. This can be attributed to a rise in preference for self-administration, especially during the COVID-19 pandemic
• North America dominated the market with a share of 41.5% in 2020 owing to the rising prevalence of chronic diseases
Read the full report: https://www.reportlinker.com/p06025382/?utm_source=GNW
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