Ultra-Large Volume Wearable Injectors Market Overview:
The ultra large volume wearable injectors market accounted for $1,408 million in 2018, and is expected to reach $4,066 million by 2026, registering a CAGR of 14.2% from 2019 to 2026.
Ultra-large volume wearable injectors are defined as the devices, which have the capacity to store large volume of drugs. Furthermore, these devices are designed to stick to the body of the patient and deliver the drug subcutaneously over an extended period of time. The different mechanisms on which these devices work include electromechanical mechanism, mechanical mechanism, and others. For instance, the electromechanical devices deliver drug with the help of an electrical motor, which builds pressure to achieve delivery of the drug. However, some ultra-large volume wearable injectors also work on osmosis mechanism, which involves two chambers of liquid separated by a semipermeable membrane. Thus, the liquid from one chamber is drawn to another chamber upon addition of salt which leads to the generation of mechanical pressure responsible for drug delivery. In addition, there are various benefits associated with the use of these devices such as better patient compliance, easy ambulation, self-administration which lowers the frequency of healthcare professional visits, and others. In addition, these devices are used for the treatment of various chronic conditions such as cancer, diabetes, Parkinson’s diseases, and others.
The major factor that contributes toward the growth of the ultra large volume wearable injectors market include surge in prevalence of chronic disorders such as diabetes, cancer, and others. Furthermore, other factors such as benefits associated with the use of ultra large volume wearable injectors and rise in adoption of these devices across the globe fuel the growth of the market.
Moreover, surge in the demand for more advanced treatment options for chronic diseases such as diabetes contributes toward the growth of the ultra-large volume wearable injectors market. In addition, increase in focus by key players toward launch of new products in the market has led to rise in collaborations within the market, which fuels the growth of the market. However, high price of ultra large volume wearable devices restrict the global ultra large volume wearable injectors market growth. In contradiction, presence of ultra large volume wearable devices in development phase, which are expected to be introduced during the forecast period is expected to provide lucrative opportunities for the players in the market
Global Ultra-large Volume Wearable Injectors Market Segmentation
The ultra large volume wearable injectors market size is studied on the basis of segments product type, application, and region to provide a detailed assessment of the market. By product type, the market is divided into electromechanical wearable injectors and others. By application, it is classified into diabetes, cancer and others. By region, the ultra large volume wearable injector market size is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
On the basis of product type, the market is divided into electromechanical wearable injector, and others. Electromechanical wearable injector acquired the largest ultra large volume wearable injectors market share in 2018 and is expected to exhibit the fastest growth rate during the forecast period. The growth of this segment is attributable to surge in prevalence cancer and diabetes worldwide. Moreover, rise in awareness related to use of ultra large volume wearable injectors and surge in demand for advanced treatment options for chronic diseases such as diabetes fuel the growth of the market. Furthermore, presence of large number of electromechanical wearable injectors is another major factor that contributes to the ultra-large volume wearable injector market growth.
By Product Type
Electromechanical Wearable Injector segment holds a dominant position in 2018 and would continue to maintain the lead over the forecast period.
By application, the market is segmented into diabetes, cancer and others, research laboratories, and others. The diabetes segment occupied the largest ultra large volume wearable injectors market share in 2018 and is expected to maintain the lead during the forecast period.
Cancer segment is projected as one of the most lucrative segment.
Region wise, North America garnered the major share of the ultra-large volume wearable injectors market in 2018, and is expected to continue this trend in the near future, attributable to easy availability of ultra-large volume wearable injectors. Moreover, surge in incidence of chronic disorders such as diabetes and cancer contribute toward the growth of the market in this region. However, Asia-Pacific is projected to register the highest growth during the forecast period, owing to surge in awareness related to the use of ultra-large volume wearable injectors. Furthermore, the constantly evolving life science industry drives the growth of the market in the developing economies such as India, China, and Malaysia.
Asia-Pacific region would exhibit the highest CAGR of 16.1% during 2019-2026.
The global ultra-large volume wearable injectors market is highly competitive, and prominent players have adopted various strategies for garnering maximum market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market include Amgen Inc., Becton, Dickinson And Company, CeQur SA, Enable Injections, Inc., Gerresheimer AG (Sensile Medical AG), Insulet Corporation, Medtronic plc., Tandem Diabetes Care, Inc., West Pharmaceutical Services, Inc., and Ypsomed Holding AG.
Key Benefits for Stakeholders:
- This report entails a detailed quantitative analysis along with the current global ultra-large volume wearable injectors market trends from 2019 to 2026 to identify the prevailing opportunities along with the strategic assessment.
- The ultra-large volume wearable injectors market forecast is studied from 2019 to 2026.
- The market size and estimations are based on a comprehensive analysis of key developments in the ultra-large volume wearable injectors industry.
- A qualitative analysis based on innovative products facilitates strategic business planning.
- The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market
Ultra-Large Volume Wearable Injectors Market Report Highlights
Key Market Players
AMGEN INC., YPSOMED HOLDING AG, INSULET CORPORATION, WEST PHARMACEUTICAL SERVICES, INC., BECTON, DICKINSON AND COMPANY, MEDTRONIC PLC., CEQUR SA, TANDEM DIABETES CARE, INC., ENABLE INJECTIONS, INC., GERRESHEIMER AG (SENSILE MEDICAL AG)
Ultra large volume wearable injectors are used to deliver drugs large volume of drugs such as biologicals. These devices have drug solution reservoir with a capacity of 2ml or more. Furthermore, the device releases drugs over an extended period of time through the subcutaneous route for the treatment of diseases such as diabetes, cancer, and others. Moreover, these devices work on various mechanisms such as electromechanical, mechanical, and others.
Factors responsible for driving the growth of the ultra large volume wearable injectors market are rise in surge in prevalence of diseases such as cancer and diabetes and increase in the adoption of these devices. In addition, surge in awareness related to the use of ultra large volume wearable injector across the globe is another prime growth factor that fosters the growth of the global ultra large volume wearable injectors market. However, high price of ultra large volume wearable injector restricts the growth of the global ultra large volume wearable injectors market.
North America garnered the largest share of this market due to rise in research activities related to development of advanced treatment options, easy availability of ultra large volume wearable injector, and presence of key players in the region.