According to a market report published by BlueWeave Consulting, The Global Wearable Injectors Market is expected to reach a value of US$ 13.0 Bn by 2024, owing to growing burden of geriatric population, increasing prevalence of chronic diseases, high demand for advanced drug delivery and increasing compliance for controlled drug delivery. The emerging economies offer ample growth opportunities for the global of wearable injectors market.
However, alternative drug delivery methods hinder the growth of the global market. The market is projected to expand at a CAGR of 23.0% during the forecast period from 2018 to 2024 by value.
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Accelerating pervasiveness of chronic diseases is driving the market growth
The demand for wearable injectors is increasing due to increasing prevalence of chronic and lifestyle associated diseases. The prevalence of chronic diseases, such as heart disease, cancer, stroke, and diabetes, is increasing due to the alteration in lifestyle and lack of access to preventive care. As reported by WHO in 2014, there were 422 million adults suffering from diabetes. Eastern Mediterranean region had the highest prevalence of diabetes (13.7%) in 2014, followed by South-East Asia (8.6%). According to Centre for Disease Control and Prevention (CDC), approximately 117 million people in 2012 in the U.S. had one or more chronic health conditions.
Wearable Injectors Market: Scope of the Report
The wearable injectors market can be segmented on the basis type, technology, application, end user and geography. Based on type, the global wearable injectors market is classified into body-worn patch injector, off-body worn belt injector, and bolus injector. Bolus injector market is expected to witness the fastest growth and is expected to grow at a CAGR of 42.36% during the forecast period. In end-user segment, the sale of wearable injectors in homecare segment is dominating.
North America is expected to lead the global wearable injectors market during the forecast period
North America led the global wearable injectors market; owing to rise in ageing population in the region the market has witness gain in terms of revenue in 2017. The North American wearable injectors market is expected to grow at a CAGR of 24.48% during the period 2018– 2024.
Global Wearable Injectors Market: Competitive Dynamics
The research study includes profiles of leading companies operating in the global Wearable Injectors market. Some of the key players profiled in the report include Johnson & Johnson, Medtronic plc, F. Hoffmann-La Roche Ltd, Unilife Corporation, etc.
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