Wearable Injectors Market to Grow at a CAGR of 11.6% during 2020–2027

Increasing Chronic Diseases Prevalence, Technological Advancements and Design Development, and Conventional Drug Delivery System Limitations Drive Market Growth

NEW YORK, UNITED STATES, November 28, 2022 /EINPresswire.com/ -- Wearable injectors are drug delivery devices that adhere to the body to deliver larger volumes of drugs subcutaneously. Several pharmaceuticals and medical device companies have developed wearable injectors. The devices consist of a reservoir for medicine, a cannula for substance delivery to tissues, and a drive system to deliver the appropriate drug volume; it is loaded with adhesive to fix the device to the patients’ skin. The increasing chronic disease prevalence, technological advancements and design development, and conventional drug delivery system limitations are among the major factors contributing to the growth of the wearable injectors market.

The wearable injectors market size is projected to reach US$ 13,880.88 million by 2027 from US$ 5,791.23 million in 2019; it is estimated to grow at a CAGR of 11.6% from 2020 to 2027.

Download PDF Brochure: https://www.theinsightpartners.com/sample/TIPMD00002677/

Wearable injectors are rapidly gaining prominence in the market owing to their ability of delivering high volumes of viscous formulations. The administration of pharmaceuticals via intravenous (IV) infusion is expensive; however, the self-administration of subcutaneous injections is expected to save 30–70% of costs of treatment. Moreover, administration through conventional methods poses risks such as inaccurate dosage and needle stick injuries. The rise in the number of biologic drugs that are not suitable for oral administration has increased the adoption of wearable injection devices. Higher dosage volumes and viscous formulations of these drugs are further emphasizing the need for alternative injection methods such as wearable injectors. enFuse wearable injector manufactured by Enable Injections is used for subcutaneous delivery of high-volume therapeutics outside a healthcare facility. The company has also incorporated mobile monitoring and larger volume capabilities to its high-volume wearable injectors.

The most notable wearable injectors market players are Amgen, Inc.; Medtronic; BD; Insulet Corporation; Gerresheimer AG (Sensile Medical); West Pharmaceutical Services, Inc.; Ypsomed AG, Tandem Diabetes Care, Inc.; Cequr SA; Debiotech S.A; Elcam Medical; and Zealand Pharma A/S(Valeritas, Inc.)—which occupy a considerable share of the market. The market leaders are involved in inorganic activities such as partnerships and acquisitions to improve their performance and consolidate the market position. For instance, in April 2020, Zealand Pharma A/S acquired all assets of Valeritas Holdings, Inc., for the cash purchase of ~US$ 23 million. This acquisition has helped Zealand Pharma to extended its existing pharmaceutical business.

Prominent players in the wearable injectors market are also focusing on organic strategies such as product launches, product approvals, and geographic and manufacturing expansions. These strategies help them strengthen their market positions, along with widening their geographic footprints.

A Few of the essential developments from the wearable injectors industry are mentioned below:

In 2020, Tandem Diabetes Care, Inc., launched its t:slim X2 insulin pump with Control-IQ technology commercially in the US. The pump device is enabled with the Control-IQ technology. It uses CGM values, in combination with other variables such as insulin on board, to predict sensor glucose levels 30 minutes in advance and regulates insulin delivery accordingly.

In 2019, Insulet Corporation received clearance from the US FDA for its Alternate Controller Enabled Infusion Pump. This approval has allowed it to market its Omnipod DASH Insulin Management System as an integrated insulin pump.

In 2018, West Pharmaceutical Services, Inc., launched new extensions for the SmartDose drug delivery platform. It includes various new wearable injectors that support the administration of the dose of up to 10 ml.

Purchase a Copy of this Report: https://www.theinsightpartners.com/buy/TIPMD00002677/

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:

Sameer Joshi
The Insight Partners
+91 96661 11581
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn