Rise in incidence of chronic disorders which require the use of ultra large volume wearable injectors for treatment, increase in adoption of ultra large volume wearable injectors across the globe, and advantages associated with the use of ultra large volume wearable injectors fuel the growth of the global ultra-large volume wearable injectors market
PORTLAND, Oregon, March 17, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Ultra-Large Volume Wearable Injectors Market by Product Type (Electromechanical Wearable Injector, and Others) and Application (Diabetes, Cancer, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global Ultra-Large Volume Wearable Injectors Industry was estimated at $1.40 billion in 2018, and is expected to hit $4.06 billion by 2026, registering a CAGR of 14.2% from 2019 to 2026.
Drivers, restraints, and opportunities-
Increase in incidence of chronic disorders which require the use of ultra large volume wearable injectors for treatment, rise in adoption of ultra large volume wearable injectors across the globe, and benefits associated with the use of ultra large volume wearable injectors drive the growth of the global ultra-large volume wearable injectors market. On the other hand, high cost of ultra large volume wearable injectors restrains the growth to some extent. However, presence of products in development phase is expected to create a number of opportunities in the industry.
The electromechanical wearable Injector segment to lead the trail till 2026-
Based on product type, the electromechanical wearable injector segment contributed to more than four-fifths of the global ultra-large volume wearable injectors market share in 2018, and is expected to rule the roost by the end of 2026. The segment is also projected to register the fastest CAGR of 14.4% during 2019–2026. Presence of large number of electromechanical wearable injectors in the market, and rise in number of electromechanically products present in the pipeline fuels the growth of the segment.
The diabetes segment to dominate during the estimated period-
Based on application, the diabetes segment accounted for nearly two-thirds of the global ultra-large volume wearable injectors market revenue in 2018, and is anticipated to maintain the lion's share from 2019 to 2026. The cancer segment, on the other hand, would grow at the fastest CAGR of 15.7% throughout the forecast period. Surge in various types of cancers across the globe and increase in adoption of ultra large volume wearable injectors for the treatment of side effects related to cancer therapy drives the segment growth.
North America to maintain its top status in terms of revenue-
Based on geography, North America held the major share in 2018, garnering more than half of the global ultra-large volume wearable injectors market, owing to rise in prevalence of chronic diseases such as diabetes, cancer, Parkinson's disease, and others. At the same time, the Asia-Pacific region would register the fastest CAGR of 16.1% during the study period. This is due to improvement in healthcare infrastructure, rise in demand for ultra large volume wearable injectors, and development in healthcare infrastructure in this province.
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