New York, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wearable Injectors Global Market Report 2023" - https://www.reportlinker.com/p06280913/?utm_source=GNW
The global wearable injectors market is expected to grow from $6.24 billion in 2021 to $7.16 billion in 2022 at a compound annual growth rate (CAGR) of 14.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The wearable injectors market is expected to grow to $11.29 billion in 2026 at a CAGR of 12.0%.
The wearable injectors market research report is one of a series of new reports that provides wearable injectors market statistics, including wearable injectors industry global market size, regional shares, competitors with a wearable injectors market share, detailed wearable injectors market segments, market trends and opportunities, and any further data you may need to thrive in the wearable injectors industry. This wearable injectors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Wearable injectors are drug delivery devices that adhere to the body while the drug is administered subcutaneously over a preset time period.
North America was the largest region in the wearable injectors market in 2022.Western Europe was the second-largest region in the wearable injectors market.
The regions covered in the wearable injectors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of wearable injectors are on-body injectors and off-body injectors.On-body injectors are drug delivery devices that are applied directly to the patient’s skin, in the abdominal region or the back of the patient’s arm.
The various applications include immuno-oncology, diabetes, cardiovascular diseases, and others that are used by various end-users such as hospitals, clinics, and home care settings.
The rise in the number of diabetic and chronic diseases patients such as cardiovascular diseases and cancers contributed to the growth of the wearable injectors market.According to the International Diabetes Federation, in 2021, approximately 537 million adults were living with diabetes, and by 2045, it is estimated that around 783 million adults around the world and 1 in 5 adults who are above 65 are expected to suffer from diabetes.
The rise in the number of diabetes and chronic diseases patients increased the demand for the treatment of the diseases, thereby driving the wearable injectors market.
The high cost associated with wearable injectors is expected to limit the growth of the wearable injectors market.According to Drug Development and Delivery, wearable injectors are single-use systems that are comfortably worn on the body that costs between $20 to $35 per unit, which is high.
The high cost associated with wearable injectors has a negative impact on the wearable injectors market growth.
The focus areas for many companies in the wearable injectors manufacturing market have shifted to increasing mergers and acquisitions to acquire more production capabilities.Large prime manufacturers are forming joint ventures or buying small or midsized companies to acquire new capabilities or gain access to new markets.
For instance, in April 2020, Zealand Pharma completed its acquisition of Valeritas, Inc., to expand the product portfolios and capabilities of the company. The acquisition is expected to build Zealand Pharma’s capabilities and significantly increase its market share in the market. For instance, in April 2020, Zealand Pharma completed its acquisition of Valeritas, Inc., with an undisclosed amount. This acquisition helps to expand the product portfolios and capabilities of the company and is expected to build Zealand Pharma’s capabilities and to importantly increase its market share in the market. Valeritas is a medical technology company committed to improving and commercializing creative drug delivery solutions.
In April 2020, Copenhagen-based Zealand Pharma, a company that develops therapies for gastrointestinal, metabolic diseases, acquired Valeritas a New Jersey-based company that developed wearable insulin delivery devices for a deal amount of $23 million, plus the assumptions of some liabilities.The acquisition is expected to expand the footprint of Zealand Pharma in the US diabetes market.
Valeritas, Inc is a medical technology company headquartered in the United States.
The countries covered in the wearable injectors market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The wearable injectors market consists of sales of instruments such as on-body injectors and off-body injectors.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
Read the full report: https://www.reportlinker.com/p06280913/?utm_source=GNW
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