The size of the Asia-Pacific wearable injectors market is forecasted to be growing at a promising CAGR from 2021 to 2026.
Y-O-Y growth in the prevalence of chronic diseases and the increasing number of technological advancements are key factors accelerating the growth rate of the APAC wearable injectors market.
The use of parenteral therapy is often associated with dosing errors, microbial contamination risk, and needle stick injuries. These are the main factors that affect treatment adherence and, therefore, significantly affect treatment outcomes, thus driving the market growth rate across APAC regions. Over the years, several companies have developed advanced therapeutic delivery solutions, such as wearable auto-injectors and pen-style injectors, to overcome the challenges associated with delivering large molecule drugs and viscous. In addition, the concept of self-injection reduces healthcare costs and allows optimal use of healthcare resources.
Wearable injectors aids in increasing the dosage volumes and viscosities under non-clinical healthcare environments, which is seeing a robust growth rate. In addition, the treatment of needlestick injuries is a high cost for any healthcare facility. The number of problems associated with conventional drug delivery methods and the benefits offered by wearable injectors, such as accurate dosing, fewer hospital visits, and compatibility with high volume drugs, are among the factors likely to increase the adoption rate for wearable injectors over the forecast period. Hence, the limitations of the conventional drug delivery system are contributing to the growth of the Asia-Pacific wearable injector market during the forecast period.
However, the APAC wearable injectors market is likely to negatively impact due to the lack of adoption in emerging countries, namely Pakistan, Vietnam, and Thailand.
Impact of COVID-19 on the APAC wearable injectors market:
The COVID-19 pandemic has popularized remote healthcare technologies such as wearable injectors. The demand for products for chronic diseases is largely unaffected by the pandemic. As wearable injectors are used to deliver drugs to homes, their demand has also remained stable or rather increased in the short term. Patients with chronic illnesses opt for these devices because they reduce the risk of exposure to COVID-19 by eliminating hospital visits. However, the pandemic has affected some of the ongoing devices, affecting short-term investments. Major players who continue to invest in innovation projects despite COVID-19 are expected to put their businesses in a stronger competitive position after the crisis.
This research report on the APAC Wearable Injectors Market has been segmented and sub-segmented into the following categories:
By Type:
By Technology:
By Application:
By End-use:
By Country:
Geographically, China captured the majority of the APAC wearable injectors market share in 2020. This trend is expected to continue in the near future due to the easy availability of large varieties of wearable injectors in the Chinese market. Moreover, the increased incidence of chronic disorders such as diabetes and cancer contributes to the growth of the market in this region. However, Malaysia is expected to experience the strongest growth during the forecast period due to increased awareness related to wearable injectors. In recent years, the regional pharmaceutical sector has observed the need for several innovative interventions as treatment options for various chronic diseases. However, most available treatment options require parenteral drug administration, frequent doses, and repeated hospital visits. In addition, the ever-changing life science industry is driving market growth in developing economies such as India, Taiwan, and Bhutan.
KEY MARKET PLAYERS:
Amgen, Becton, and Dickinson and Company, Medtronic, Valeritas, Inc, Insulet Corporation, Gerresheimer AG (Sensile Medical), Tandem Diabetes Care, SteadyMed Therapeutics, Inc., United Therapeutics Corporation, Sensile Medical AG, Zealand Pharma A/S (Valeritas, Inc.), West Pharmaceutical Services, Inc., SteadyMed Therapeutics, F. Hoffmann-La Roche Ltd, Ypsomed, Johnson & Johnson, Dexcom, Inc., Enable Injections, CeQur SA, Sensile Medicals and Bespak are some of the notable companies in the APAC wearable injectors market profiled in this report.
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