wearable injectors market
wearable injectors market:-The demand for advanced dug delivery is rising, as subcutaneous injection is the most desirable route of administration in several therapeutic areas including hemophilia, auto-immune disorder, cancer intravenous immunoglobulin, and multiple sclerosis. Furthermore, the cost of administration of a single dose of specialty drug via IV infusion in clinics or hospitals costs about $1,000 to $10,000. The cost for the administration of the same dose is decreased by 30% to 70% in home care settings. Attributed to these factors, the demand for advanced drug delivery devices, such as wearable injectors in increasing, as patients can take the infusion themselves with minimal or no training.
A wearable injector is used for delivering large volume of drugs over an extended period of time. The device delivers large subcutaneous drug doses to patients even when the patient is ambulatory and is able to carry out normal daily activities during the day. The wearable injectors market is projected to grow at a considerable pace in the near future. Different types of wearable injectors are bolus injector, body-worn patch injector, and off-body worn belt injector. Among these, body-worn patch injector was the most in demand in the past. However, bolus injectors are predicted to be the most in demand in the coming years.
Various applications
The various applications of wearable injectors are blood disorder, cancer, cardiovascular disease, autoimmune disease, and infectious disease. Out of these, the largest demand for wearable injectors was created for cancer in the past and the situation is expected to remain the same in the coming years as well. There are different biologic drugs which need to be administered frequency for the treatment of cancer, which results in increased healthcare maintenance cost. In addition to this, the patient has to visit hospitals or specialized clinics in order to get a dose, which cause the patient discomfort. However, with the introduction of wearable injectors, the patients can self-administer the drugs.
Among all the regions, North America accounted for the major share of the wearable injectors market in the past and is expected to dominate the market in the near future. This is because of the surging prevalence of chronic and lifestyle- associated diseases and rising requirement for self-injection system. The Asia-Pacific region is predicted to witness the fastest growth in demand for wearable injectors in the coming years. The reason for this is the surging geriatric population in the region. As per the UN publication, the number of people aged 80 years or above was 9 million in Japan in 2013 and is predicted to reach 17 million by 2050.
Since elderly people are more susceptible to chronic diseases, such as cardiovascular diseases, cancer, diabetes, and neurological disorders, they need extensive care, which is resulting in the rising requirement for wearable injectors. According to the United Nations Department of Economic and Social Affairs’ report on the global aging population, the number of people aged 60 years or above is expected to grow by 56.0% across the world and is predicted to reach 1.4 billion by 2030.
The geriatric population around the world is growing at a swift pace; as per the World Health Organization (WHO), the number of people aged 65 years or above across the globe is projected to double from 703 million to 1.5 billion between 2019 and 2050. The WHO has also stated that the rate at which the aging population is growing has quickened in the past few years. Since the aging population is more susceptible to several chronic diseases, it often needs medical intervention. One such device, which is used for medical intervention, is a wearable injector.
Explanition
Wearable injectors are devices which deliver a large volume of drugs over an extended period of time. These delivery systems administer large subcutaneous (through the skin) drug doses to patients, even if the patient is ambulatory. Additionally, the patient is fully capable of carrying out normal daily activities during the delivery of the drug. As per a P&S Intelligence report, the global wearable injectors market is predicted to grow at a considerable pace in the coming years. There are three types of wearable injectors, namely bolus injector, body-worn patch injector, and off-body worn belt injector. Out of these, the demand for bolus injectors is expected to grow at the fastest pace in the near future.
Bolus injectors were introduced in 2016.
but have grown extremely popular due to their various advantages.
including their ability to treat several diseases,
including infectious diseases, blood disorders, cancer, cardiovascular diseases, and autoimmune diseases.
The treatment of these diseases requires the patient to be administered with multiple, repeated doses of drugs at frequent intervals.
and because bolus injectors are low-cost and easy-to-use disposable devices.
which allows for the at-home self-administration of drugs.
their demand is rising rapidly.
these injectors are projected to have the capability of delivering more than 900 biologics and biosimilars in the coming years.
Uses
Among all the diseases, wearable injectors were used the most for the treatment of cancer, in the past, and their demand is predicted to be the highest for treating cancer in the coming years as well. As per the WHO, cancer kills around 9.6 million people each year. The most prominent settings where wearable injectors are used include labs & diagnostic centers, homecare settings, and hospitals. Out of these, the highest demand for these devices is expected to be created by homecare settings in the coming years. Homecare settings enhance the quality of life of the patient, as these are convenient, and the patient does not have to visit the hospital frequently.
The global wearable injectors market is predicted to register significant growth in the coming years. This is attributed to the increasing demand for advanced drug delivery, rising geriatric population, and surging prevalence of chronic diseases. A device which is utilized for delivering large volume of drugs over an extended period of time is referred to as a wearable injector. The device delivers large subcutaneous doses of drugs to patients even when the patient is ambulatory and is able to carry out normal daily life activities during the drug delivery.
TYPES
When type is taken into consideration, the wearable injectors market is divided into bolus injector.
body-worn patch injector, and off-body worn belt injector.
Among these, the body-worn patch injector division held the largest share of the market in the past.
however, the bolus injector division is projected to dominate the market in the near future.
This is because of the ability of bolus injector to treat several diseases including auto-immune diseases.
blood disorders, cancer, infectious diseases, and cardiovascular diseases.
The division is further projected to grow at the fastest pace in the coming years.
In terms of end user, the wearable injectors market is categorized into lab & diagnostics, home care, hospital, and others (which include small clinics and healthcare settings).
Out of these, the home care category dominated the market in the past.
and is expected to account for the major share of the market in the near future.
as well due to the growing demand for self-injection system.
On the basis of technology,
the market is classified into mechanical injector, electronic injector, and others (which include hydrogel and hydraulic injector).
The surging geriatric population is among the major driving factors of the wearable injectors market.
According to the United Nations Department of Economic and Social Affairs report on the global aging population.
the number of people aged 60 years or above is expected to grow by 56%.
i.e., from 901 million in 2015 to 1.4 billion by 2030.
Moreover, the elderly people are more susceptible to chronic diseases as they have low immunity levels.
Attributed to these factors, the demand for wearable injectors is growing with the rising aging population.
geographical scenario
When the geographical scenario is taken into consideration.
North America has been the most productive wearable injectors market in the past.
The reasons for this are the surging prevalence of chronic and lifestyle-associated diseases.
growing requirement for self-injection and advanced drug delivery systems in the region.
With the focus increasing focusing on reducing patients’ stay at the hospital and decreasing the healthcare cost.
manufacturers are engaging in developing advanced drug delivery devices.
wearable injectors have emerged as one of the most suitable solutions for people suffering from chronic diseases and aged people.
Therefore, with an increasing number of people contracting various diseases.
the demand for constant and regulated drug delivery increasing, the usage of wearable injectors would also rise.
