Patient Controlled Injectors Market Surpass US$ 7,505.70 million by 2027 , Says The Insight Partners
According to The Insight Partners market research study of “Patient Controlled Injectors Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product, Application, Distribution Channel, and Geography”, the global patient controlled injectors market is expected to reach US$ 2,969.47 million by 2027 from US$ 7,505.70 million in 2019. The market is estimated to grow at a CAGR of 12.4% from 2020 to 2027. The report highlights trends prevailing in the global patient controlled injectors market and the factors driving market along with those that act as hindrances.
The patient controlled injectors are the recent invention in the administration of injections. There are high-unmet needs of people/ HCPs or patients’ requiring the patient-controlled injectors, as it has greater ease and comfort than any other auto-injectors. These are ergonomically developed, and the design of patient-controlled injectors can help optimize self-care, making it easy for patients to handle the system and administer the dosages at just one press. The patient controlled injectors market is expected to witness a significant growth due to increasing prevalence of infectious diseases and growing emphasis on superior patient compliance. However, poor adoption of injectors in emerging countries is likely to deter the growth of the market during the forecast period.
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Patient Controlled Injectors Market Competitive Landscape and Key Development
Gerresheimer AG; F. Hoffmann-La Roche Ltd.; Johnson and Johnson Services, Inc.; Ypsomed AG; Westbourne Medical Limited; Enable Injections; scPharmaceuticals Inc.; United Therapeutics Corporation; and BD are among the leading companies operating in the patient controlled injectors market.
The growth of the patient controlled injectors market is attributed to the factors such as increasing prevalence of chronic conditions and acceptance of patient controlled injectors due to better patient compliance. However, lack of awareness and adoption of patient controlled injectors in emerging countries is likely to restraint the growth of the market during the forecast period.
The demand for patient controlled injectors increased during the pandemic period. Factors such as increased patient population, shortage of healthcare resources, and ease of increased the adoption of injectors had positive impact on the market by certain extent. However, implementation of physical distancing policies and total shut down of businesses in order to prevent the viral infection disrupted the supply chain operations, which caused a negative impact on the market growth.
Rising Prevalence of Chronic Diseases
Patient controlled Injectors are subcutaneous drug delivery systems that adhere to the body and administer larger volumes (more than 2 mL) of a drug over an extended period. With the use of patient-controlled injectors, dosing errors, microbial contamination risks, and needle stick injuries can be avoided that are caused during parenteral drug administration using injections. In the last few years, the pharmaceutical industry has witnessed the introduction of several innovative interventions for the treatment of various chronic diseases. However, the majority of the available treatment options require parenteral drug administration, frequent dosing, and repeated hospital visits. Therefore, patient controlled injectors are preferred for the treatment of chronic diseases where long-term treatment is necessary. Chronic diseases, such as blood disorder, autoimmune disorders, and various types of cancer, are the leading causes of death and disability worldwide. According to the Centers for Disease Control and Prevention, in 2019, nearly 6 in 10 people suffer from at least one chronic disease in the US.
Cardiovascular diseases (CVDs) are a significant cause of mortality globally owing to the hectic lifestyle. As per the World Health Organization (WHO), CVDs are the number one cause of death globally, taking an estimated 17.9 million lives each year. Many biologics are commercially available for the treatment, but the conventional drug delivery methods are unable to provide accurate dosage. This augments the use of patient controlled injector drug delivery systems that provide targeted drug delivery and prolonged drug residence to the affected areas of the cardiovascular system. Hence, the adoption of patient controlled injectors is likely to increase, thereby propelling the market growth.
Patient Controlled Injectors Market: Segmental Overview
Based on product, the patient controlled injectors market is segmented into electronic wearable injector, mechanical wearable injector, and infusion pumps. In 2019, the electronic wearable injector segment held the largest share of the market; whereas, the mechanical wearable injector segment is likely to witness the fastest growth during the forecast period.
Based on application, the patient controlled injectors market is segmented into cancer treatment, auto-immune treatment, blood disorders treatment, and others. The cancer treatment segment held the largest share of the market in 2019 and is estimated to register the fastest growth during the forecast period.
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