ALBANY, New York, January 14, 2019 /PRNewswire/ --
The revenue generated by the wearable injectors market stood at US$ 2,920.2 Mn in 2017 and the market anticipated to touch valuation of US$ 9,038.1 Mn by 2026. The global wearable injectors market is likely to expand at robust 13. 95 CAGR over the said forecast period.
On-body Wearable Injectors segment of Product Type to Lead Global Wearable Injectors Market
On the basis of type, the on-body wearable injectors segment is likely to hold maximum share in the global wearable injectors market on the basis of revenue. This segment is expected to account for healthy growth during the course of forecast period, owing to increasing inclination for self-administration of drugs. Geographically, North America is expected to account maximum share by 2026 end. High awareness about the wearable injectors in the North America region couple with substantial growth in healthcare investment along with the advancement in technology is fueling growth in this market.
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The increase in demand for the wearable injectors has been largely depended on increasing cases of severe prolonged disease. Several patients requires self-administrative drug to maintain the health and this likely to influence demand for the global wearable injectors market. For instance, the patients suffering from diabetes requires injection of insulin on the regular basis and this process is carried out through the usage of wearable injection. This in turns propel growth of the global wearable injectors market in the foreseeable future. Apart from this, treatment for several disease such as psoriasis, Crohn's diseases, arthritis, and cancer also comprises usage of the wearable injectors. These are some of the key factors augmenting growth of the global wearable injectors market in the coming years.
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Implementation of Traditional Practice May Limit Market Growth
On the other hand, despite the facts of advancement of wearable injectors, several healthcare centers and healthcare clinics use the traditional process. These are some of the major factors negatively impacting the overall growth of this market. Conversely, constant growth in the healthcare industry and increasing prevalence of chronic disease is likely to bode well for the growth of the global wearable injectors market.
The presence of large number of players in the global wearable injectors market demonstrates competitive structure of the wearable injector market, finds Transparency Market Research (TMR). The marketplace is likely to witness entry of various new entrants during the course of forecast period from 2018 till 2026. The wearable injectors market also features a progressively competitive landscape and this is majorly attributed to presence of large and small players in the wearable injectors market.
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As per report, TMR note that the manufacturers are highly focused towards launch of various initiative and focusing towards the adoption of key strategies to attract more consumers in the coming years. Some of the major players operating in the global wearable injectors market are Ypsomed AG, Dickinson and Company, Tandem Diabetes Care, Inc., Debiotech S.A., SteadyMed Therapeutics, Inc. and CeQur SA. In addition, the manufacturers are largely focusing towards mergers and acquisitions in order to gain strong hold across the globe.
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This review is based on the findings of a TMR report titled "Wearable Injectors Market (Type - On-body Wearable Injectors, Off-body Wearable Injectors; Application - Oncology, Diabetes, Autoimmune Disorders, Cardiovascular Diseases, Infectious Diseases; End use Industry - Hospitals, Clinics, Home Care Settings) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026."
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