Ultra-large Volume Wearable Injectors Market: Introduction
- Ultra-large volume wearable injectors are devices that are able to store high volume of drugs and are designed to deliver the drug subcutaneously over an extended period of time. These devices are majorly utilized in the treatment of chronic diseases such as cancer, diabetes, and autoimmune disorders. Wearable injectors offers a solution to the challenge of delivering sub-cutaneous injections of increasing dosing volumes and viscosities in non-clinical settings.
- The ability of ultra-large volume wearable injectors to accommodate new formulations with higher volume and/or viscosity improves patient experience, and potentially increases adherence to therapies
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Key Drivers and Opportunities of Global Ultra-large Volume Wearable Injectors Market
- Change in dietary habits and lifestyle is a leading cause of diabetes, cancer, and cardiovascular diseases. Hence, a rise in prevalence of these chronic diseases is projected to drive the global market. According to the International Diabetes Federation, globally, 463 million adults were living with diabetes in 2019, and the number is anticipated to rise to 700 million by 2045.
- According to the American Heart Association, an estimated 116.4 million adults in the U.S. had hypertension in 2019. An article published in the Diabetes Research and Clinical Practice stated that prevalence of diabetes was estimated at 9.3%, globally in 2019, and it is likely to rise to 10.2% by 2030 and 10.9% by 2045.
- Increase in demand for integrated technologies owing to a rise in awareness about technological advancements and patient convenience of injecting at home are key factors that are expected propel the global ultra-large volume wearable injectors market
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- The shift from hospital care to home care is also likely to drive the global market. Industry players are engaged in the development of wearable products for home care for remote patient monitoring and health care application.
- The geriatric population is more prone to chronic diseases such as cardiovascular and diabetes. Hence, increase in geriatric population is a major factor propelling the global market.
- Emerging markets in regions such as Asia Pacific, Middle East & Arica, and Latin America offer lucrative opportunities for the global ultra-large volume wearable injectors market. Surge in geriatric population with various chronic diseases also offer significant opportunities for the global market. According to the National Heart Foundation of Australia, cardiovascular diseases (CVDs) is a major cause of death in Australia; around 43,477 deaths were attributed to CVD in the country in 2017.
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North America to Capture Major Share of Global Ultra-large Volume Wearable Injectors Market
- North America is expected to account for a major share of the global ultra-large volume wearable injectors market. Presence of key market players and early adoption of advanced technologies are major factors that boost the market in the region.
- The ultra-large volume wearable injectors market in Asia Pacific is estimated to expand at a rapid pace during the forecast period owing to expansion of healthcare infrastructure and a rise in government initiatives to increase awareness regarding chronic diseases
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Key Players Operating in Global Ultra-large Volume Wearable Injectors Market
The global ultra-large volume wearable injectors market is highly concentrated due to the presence of key players. A large number of manufacturers hold a major share in their respective regions. Growth strategies adopted by leading players are likely to drive the global market.
Major players operating in the global ultra-large volume wearable injectors market are:
- Ypsomed
- BECTON, DICKINSON AND COMPANY
- Enable Injections
- West Pharmaceutical Services, Inc.
- Gerresheimer AG
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