The South & Central America patient controlled injectors market is expected to reach US$ 208.66 million by 2027 from US$ 93.28 million in 2019; it is expected to grow at a CAGR of 10.6%.
The increasing chronic diseases prevalence and rising patient compliance boost the growth of the South & Central America patient controlled injectors market. However, the preference of alternative drug delivery restrains the growth of the market. Additionally, technological advancements and design development, and market consolidation are likely to fuel the growth of the South & Central America patient controlled injectors market during the forecast period.
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.
Patient-controlled injectors are expected to rise concurrently in the market owing to greater ease, safety, and comfort of the administration of injections, which is likely to gain significant popularity among patients. In addition, the controlled release of the patient-controlled injectors helps a patient administer the drug by themselves and decide their dosage rate.
The patient-controlled injectors can be administered at home settings, and thus, there is an increase in demand for patient-controlled injectors. Patient-controlled injectors present a robust solution for increasing dosing volumes and viscosities in nonclinical settings. Specifically, a large volume of patient-controlled injectors is being used for subcutaneous drug delivery and have become a prior choice for administering drugs in the home care setting. Variants like these patient controlled self-administration devices have been designed and manufactured to administer highly viscous medications in large volumes dose (more than 1 mL), offering numerous dosing options, integrated safety mechanisms, and minimum risk of needle stick injuries. Besides this, it is crucial to ensure the safety of healthcare providers. Many manufacturers are now focusing on developing patient-controlled injectors to meet the unmet needs, which, in turn, is stimulating the growth of the market. The easy administration of these drugs plays a crucial role in improving the compliance to drug therapies among patients, which drives patient outcomes. Therefore, increasing preference for patient-controlled injectors among patients and healthcare providers, due to growing awareness regarding its benefits, is driving the market growth.
South & Central America is facing significantly challenging situations due to the COVID-19 pandemic. Governments in the region have announced massive relief packages to fight against the pandemic. In addition, the governments are engaged in the manufacturing of diagnostic kits and protective equipment for healthcare workers. Such financial pressure is restricting the investments in research & development by governments. Moreover, the healthcare systems in the region witnessed complete shift of focus on diagnosis and management of the COVID-19 crisis, which delayed other research & development activities and clinical trials. Such chain of actions caused due to the COVID-19 outbreak is expected to restrain the growth of the South & Central America patient controlled injectors market during the forecast period.
In 2019, the electronic injector segment accounted for the largest market share of the South & Central America patient controlled injectors market. Electronic injector offers benefits such as comfort, water resistance, flexible dosing, and automatic warming of refrigerated drug, and these are easy to use. Such benefits are increasing the demand for electronic injector. Moreover, the the market for mechanical injector segment is expected grow at a faster pace during the forecast period as it eliminates the risks of skin fitting issues and allergic skin reactions.
A few of the major secondary sources referred to while preparing this report on the South & Central America patient controlled injectors market are World Health Organization (WHO), Global Burden of Disease (GBD), and International Diabetes Federation (IDF).