Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Wearable Injectors Market size is expected to reach $12.9 billion by 2028, rising at a market growth of 9.2% CAGR during the forecast period.
The Diabetes segment acquired maximum revenue share in the Global Wearable Injectors Market by Therapy 2021, thereby, achieving a market value of $5.9 billion by 2028. The increased prevalence of diabetes around the world, together with the increasing availability of wearable injectors for the diagnosis of chronic diseases, is driving the expansion of this market segment. The rapidly rising incidences of diabetes across the world are a result of significant lifestyle changes in people. Moreover, another factor driving the development of diabetes in people is the adoption of a sedentary lifestyle along with a lack of physical activities. This factor is augmenting the growth of the segment.
The Home healthcare setting segment is showcasing a CAGR of 11.8% during (2022 - 2028). The growth of the segment is rising due to the increased preference for self-administration of medication, as well as the growing need to reduce healthcare expenses. Furthermore, the growing need for technologically sophisticated drug administration approaches that reduce hospitalization rates while requiring minimum expertise is likely to propel the utilization of wearable injectors in home healthcare settings.
The On-body Injector segment is leading the Global Wearable Injectors Market by Type 2021, thereby, achieving a market value of $8.7 billion by 2028. The increasing growth of this segment can be attributed to the patients' ease to deliver a precise amount of drug to the body over a controlled period of time. Moreover, the convenience that is offered by this technique is another factor that is estimated to propel the growth of the segment in the forecast period.
The Motor Based segment has shown growth rate of 9.5% during (2022 - 2028). The constantly increasing growth of the segment is owing to the integration of advanced high-end motors into these injectors, which allow users to immediately inject the required amount of medicine into their body. This factor is augmenting the growth of this segment.
The North America market dominated the Global Wearable Injectors Market by Region 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5 billion by 2028. The Europe market is estimated to witness a CAGR of 9% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 9.8% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Insulet Corporation, United Therapeutics Corporation, ATS Automation Tooling Systems, Inc., Ypsomed AG, Amgen, Inc., West Pharmaceutical Services, Inc., Zealand Pharma A/S (Valeritas, Inc.), Medtronic PLC, CeQur SA, and Subcuject ApS.
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