Global Wearable Injectors Market Opportunities And Strategies
The global wearable injectors market is expected to decline from $5.40 billion in 2019 to $5.14 billion in 2020 at a compound annual growth rate (CAGR) of -4.65%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $7.53 billion in 2023 at a CAGR of 13.54%. 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. However, the high cost associated with wearable injectors is expected to limit the growth of the market.
Wearable injectors are drug delivery devices that adhere to the body while the drug is administered subcutaneously over a preset time duration. Only goods and services traded between entities or sold to end consumers are included.
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The global wearable injectors market is further segmented based on type and geography.
By Type: On-Body Injectors, Off-Body Injectors
By End-User: Hospitals, Clinics, Homecare Settings
By Application: Immuno-Oncology, Diabetes, Cardiovascular Diseases, Other.
By Geography: The global wearable injectors market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Trends In The Wearable Injectors Market
The focus areas for many companies in the wearable injectors manufacturing market has shifted to increasing mergers and acquisitions to acquire more production capabilities. Large prime manufactures are forming joint ventures or buying small or midsized companies to acquire new capabilities or gain access to new markets.
Wearable Injectors Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides wearable injectors market overviews, analyzes and forecasts wearable injectors market size and growth for the global wearable injectors market, wearable injectors market share, wearable injectors market players, wearable injectors market size, wearable injectors market segments and geographies, wearable injectors market trends, wearable injectors market drivers and wearable injectors market restraints, wearable injectors market’s leading competitors’ revenues, profiles and market shares. The wearable injectors market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.