The market is estimated to grow at CAGR of 12. 4% from 2020 to 2027. The growth of the market is driven by the factors such as, increasing chronic diseases prevalence, technological advancements and design development, and conventional drug delivery system.
New York, Oct. 01, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Asia Pacific Wearable Injectors Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type ; Application ; End User, and, Country" - https://www.reportlinker.com/p05974346/?utm_source=GNW
However, the market is likely to have negative impact due to lack of adoption in emerging countries.
In the last few years, the pharmaceutical industry has witnessed the introduction of several innovative interventions for the treatment of several chronic diseases.However, the majority of the available treatment options require parenteral drug administration, frequent dosing, and repeated hospital visits.
Treatment administration via the parenteral route is associated with concerns such as dosing errors, microbial contamination risks, and needle stick injuries.These are found to be the primary factors affecting medication adherence and, thereby affecting significantly on therapeutic outcomes.
Over the years, several companies have developed advanced therapeutic delivery solutions such as wearable autoinjectors and pen injectors to overcome the challenges associated with the administration of viscous and large molecule drugs. Moreover, the concept of self-injection reduces healthcare costs and allow the optimal usage of healthcare resources.
Wearable injectors present a robust solution for increasing dosing volumes and viscosities in non-clinical settings.Specifically, large volume wearable injectors are being used for subcutaneous drug delivery and have become a preferred choice for the administration of drugs in the home-care setting.
Variants of these wearable devices have been designed to administer highly viscous drugs (such as biologics) in large volumes (more than 1 mL), offering numerous dosing options, integrated safety mechanisms, and minimum risk of needle stick injuries. Besides this, it is crucial to ensure safety of healthcare providers.
Moreover, managing needle stick injuries incurs high costs to any healthcare facility. The number of problems associated with conventional drug delivery methods and advantages offered by wearable injectors such as accurate dosage, fewer visits to hospitals, and compatibility with high volume drugs are among the factors likely to increase their adoption rate during the forecast period.
Thus, conventional drug delivery system limitations contributing to the growth of the Asia Pacific Wearable Injectors market in the forecast period.
Based on type, the wearable injectors market is segmented into on-body injectors and off-body injectors.The on-body injectors segment held the largest share of the market in 2019.
However, the off-body injectors segment is estimated to register the highest CAGR of 13.0% in the market during the forecast period.
Based on application, the market is segmented into oncology, diabetes, autoimmune diseases, cardiovascular disease and other applications.The oncology segment held the largest share of the market in 2019.
However, the autoimmune disease segment is estimated to register the highest CAGR of 13.4% in the market during the forecast period.
Based on end user, the market is segmented into homecare settings, hospital and clinical and other end users.The homecare setting segment held the largest share of the market in 2019.
However, the hospitals and clinics segment is estimated to register the highest CAGR of 13.0% in the market during the forecast period
Some of the major primary and secondary sources for Asia Pacific Wearable Injectors market included in the report are, The National Center for Biotechnology Information, World Health Organization, Health Ministry of Japan, International Diabetes Federation, The Indian Council for Medical Research and others.
Read the full report: https://www.reportlinker.com/p05974346/?utm_source=GNW
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