(Albany, USA) DelveInsight’s Wearable Injectors Market Insights report provides the current and forecast market analysis, individual leading wearable injectors companies’ market shares, challenges, wearable injectors market drivers, barriers, trends, and key market wearable injectors companies in the market.
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Key Takeaways from the Wearable Injectors Market Report
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Wearable Injectors Overview
Wearable injectors represent a remarkable advancement in medical technology, seamlessly merging the worlds of medical devices and wearable gadgets. These innovative devices are designed to administer a range of medications, such as biologics, insulin, or other therapeutic agents, in a convenient and controlled manner. What sets wearable injectors apart is their user-friendly design, allowing patients to adhere to prescribed treatment regimens with greater ease and comfort. Typically worn on the body like a patch or belt, these injectors automate the process of drug delivery, often reducing the need for frequent injections and hospital visits. This not only enhances patients’ quality of life but also improves medication adherence and overall treatment outcomes. As wearable injectors continue to evolve, they hold the potential to revolutionize the way chronic conditions are managed and treated, offering a glimpse into a more patient-centered and technologically empowered future of healthcare.
Wearable Injectors Market Insights
North America is predicted to lead the global wearable injectors market in 2023 and will continue to do so during the forecast period of 2023–2028. This dominance is attributed to the rising prevalence of chronic diseases and lifestyle-related diseases, the presence of sophisticated healthcare infrastructure, and the presence of key players in the region, among other factors, which are key contributors to the country’s wearable injectors market growth and are expected to aid in the growth of the North America wearable injectors devices market.
Furthermore, several strategic activities undertaken by market participants, such as product launches, collaborations, mergers, and acquisitions, are projected to enhance the North American wearable injectors market. For example, CeQur, a Marlborough-based insulin delivery device manufacturer, raised USD 115 million in funding in April 2021 to launch its wearable insulin injector, CeQur Simplicity.
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Wearable Injectors Market Dynamics
Cancer is the largest cause of mortality worldwide, accounting for roughly 10 million deaths in 2020, according to the World Health Organisation (WHO) 2022 factsheet. Breast cancer had 2.26 million new cases in 2020, followed by lung cancer with 2.21 million cases, colon and rectal cancer with 1.93 million new cases, prostate cancer with 1.41 million cases, skin cancer with 1.20 million cases, and stomach cancer with 1.09 million cases worldwide. As a result of the increasing frequency of chronic diseases, there will be a growth in demand for wearable injectors, which are used to provide various drugs to patients suffering from chronic diseases over a longer length of time. Cardiovascular disorders are widely regarded as the major cause of death worldwide. The various methods used by key market players to offer novel goods are also projected to boost wearable injectors market expansion over the forecast period.
However, the desire for alternate drug delivery modes, some adverse effects produced by the system’s nanoparticles, and the high cost of wearable injectors, among other factors, may stymie the global wearable injector market’s growth.
The COVID-19 pandemic has had a tremendous impact on the wearable injector market. The pandemic’s outbreak resulted in strict social distancing norms, reduced socializing among people, and restrictions on mobility among consumers, resulting in a drop in wearable injectors usage, with consumers finding it difficult to visit stores to buy the wearable injectors, lowering demand and the overall wearable injectors market during the lockdown’s initial phase.
However, the rising demand for wearable injectors for drug self-administration during the pandemic resulted in a rise in demand for wearable injectors. Furthermore, with the reduction of the supply chain, manufacturing, and lockup constraints, as well as the increasing trend of e-commerce sales for wearable injectors, the wearable injectors market expanded at a healthy rate. As a result of the aforementioned factors, the wearable injectors market experienced profitable growth in the second half of the pandemic, and the trend is expected to continue in the next years.
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Wearable Injectors Market Report Metrics
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Wearable Injectors Market Assessment
Table of Contents
1. Report Introduction
2. Executive summary
3. Regulatory and Patent Analysis
4. Key Factors Analysis
5. Porter’s Five Forces Analysis
6. COVID-19 Impact Analysis on Wearable Injectors Market
7. Wearable Injectors Market Layout
8. Global Company Share Analysis – Key 3-5 Companies
9. Wearable Injectors Market Company and Product Profiles
10. Project Approach
11. About DelveInsight
About DelveInsight
DelveInsight is a leading Business Consultant and Market Research firm focused exclusively on life sciences. It supports Pharma companies by providing end to end comprehensive solutions to improve their performance.
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