CHICAGO, October 8, 2018 /PRNewswire/ --
According to the new market research report "Wearable Injectors Market by Type (On-Body and Off-Body injectors (Infusion Pump Devices)), Therapy (Immuno-oncology, Diabetes, Cardiovascular diseases, Parkinsons disease, Thalassemia, Primary Immunodeficiency Disease) - Global Forecast to 2023", published by MarketsandMarkets™, the global Wearable Injectors Market is projected to reach USD 9.41 billion by 2023 from USD 5.57 billion in 2018, at a CAGR of 11.1% during the forecast period (2018-2023).
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The key factors driving the growth of this market are the growing prevalence of chronic diseases (such as cancer, diabetes, and cardiovascular diseases), favorable reimbursement scenario in major markets, and technological advancements in injector devices.
By type, the on-body injectors segment is expected to account for the largest market share in 2018
On the basis of type, the Wearable Injectors Market is segmented into on-body and off-body injectors. The on-body injectors segment is expected to account for the larger market share in 2018, while the off-body injectors segment is projected to witness the highest growth rate during the forecast period. The drawbacks associated with on-body wearable injectors, such as painful removal, skin sensitivity issues and irritation, and adhesive fitting issues have resulted in the increased adoption of off-body injectors.
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By therapy, the immune-oncology segment is expected to account for the largest market share in 2018
On the basis of therapy, the Wearable Injectors Market is segmented into immuno-oncology, diabetes, cardiovascular diseases, and other therapies (Parkinson's disease, thalassemia, and primary immunodeficiency disorders). In 2018, the immune-oncology segment is expected to account for the largest share of the Wearable Injectors Market. This can be attributed to the high prevalence of cancer across the globe.
North America to dominate the market in 2018
In 2018, North America is expected to account for the largest share of the Wearable Injectors Market, followed by Europe. Factors such as availability of technologically advanced wearable injector systems for various therapeutic areas such as cancer, diabetes, and cardiovascular diseases; the presence of major market players in the region; and a favorable reimbursement scenario in the US and Canada are contributing to the large share of North America.
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The key players in the global Wearable Injectors Market are Amgen (US), Medtronic (Ireland), Insulet Corporation (US), Tandem Diabetes Care (US), United Therapeutics Corporation (US), Valeritas (US), and SteadyMed Therapeutics (US). The other prominent players in this market are Ypsomed (Switzerland), Becton, Dickinson and Company (US), Enable Injections (US), Sensile Medicals (Switzerland), and Bespak (UK).
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