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Wearable Injectors Market Set for Prosperity in Future

Wearable Injectors Market Set for Prosperity in Future

Global wearable injectors market is projected to reach $13,015.9 million by 2024, growing at a CAGR of 23.0% during 2016 - 2024.The global wearable injectors market is predicted to register significant growth in the coming years. This is attributed to the increasing demand for advanced drug delivery, rising geriatric population, and surging prevalence of chronic diseases. A device which is utilized for delivering large volume of drugs over an extended period of time is referred to as a wearable injector. The device delivers large subcutaneous doses of drugs to patients even when the patient is ambulatory and is able to carry out normal daily life activities during the drug delivery. 

WEARABLE

INJECTORS MARKET

In terms of end user, the wearable injectors market is categorized into lab & diagnostics, home care, hospital, and others (which include small clinics and healthcare settings). Out of these, the home care category dominated the market in the past and is expected to account for the major share of the market in the near future as well due to the growing demand for self-injection system. On the basis of technology, the market is classified into mechanical injector, electronic injector, and others (which include hydrogel and hydraulic injector). 

The increasing adoption of wearable injectors in developing countries is opening up wide opportunities for the players operating in the wearable injectors market. This is ascribed to the rising awareness regarding the availability of these devices and increasing healthcare spending. In addition to this, the prevalence of chronic diseases is high in emerging economies, such as Brazil, India, and China, because of a lack of healthcare awareness, which is further creating an increased demand for these devices. As per the International Diabetes federation, China has the largest population of adults suffering from diabetes. 

Source: P&S Intelligence

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