Pramod Kumar

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Wearable Injectors Market To Generate $13,015.9 Million Revenue by 2024

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. 



Another growth driver for the wearable injectors market is the booming aging population, owing to the surging life expectancy and declining birth rates. Old patients require extensive care as they are highly susceptible to chronic illnesses, such as diabetes, cancer, cardiovascular diseases, and neurological disorders, owing to their low immunity levels. Moreover, the longer recovery time required for old patients also creates a huge requirement for wearable injectors. Additionally, the surging need for home healthcare and increasing public focus on overall healthcare costs will also facilitate the market growth.

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. 

Source: P&S Intelligence

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