Developers See Opportunity in Injection Devices for At-Risk Populations
Safety and Tactile Features Address the Needs of Older and Compromised Patients According to Applied Market Data
Nashua, NH, February 24, 2017 (Newswire.com) - The aging global population and special-needs patients are two patient groups that represent a growing healthcare segment. Recognizing this, a small but growing number of pharmaceutical sector participants and their product development partners have created injection devices that address several of the feature and functional needs of at-risk patients.
The administration of injectables is moving increasingly from practitioner offices and healthcare facilities to patient homes. Decisions regarding as-supplied packaging that were once considered boilerplate have moved to the early stages of the development process. Drug developers and their device partners are increasing their emphasis on device features and functionality, attempting to create injectable products that are more user-friendly while promoting patient adherence and safety. These features address a wide spectrum of device attributes, including form factor, device-patient interaction, security and safety, dosing, activation, off-device communication, and drug formulation factors.
By creating devices that address patient limitations and family concerns, this class of devices is tapping into a growing theme among the aging and their loved ones. Pre-event audible patient instructions and post-event feedback provide a measure of assurance that the medication was indeed injected properly. Wireless connectivity allows caregivers to remotely monitor dosing and event performance. Dose reminders and failsafe injection event activation increase patient confidence in the self-administration process. Small form factor injectors and ergonomic device designs are aimed at expanding the number of patients with compromised dexterity that can self-medicate.
For the remainder of the decade, pipeline drugs and shifting demographics will drive sector growth as an aging population of baby boomers (23% of U.S. population) provides stimulus for industry demand. Currently, the over 65 segment accounts for approximately 13% of the U.S. population, with an estimated 40% of total healthcare expenditures, but by 2020, this segment is expected to grow to 17% of the population.
Applied Market Data has researched this evolving market and incorporated survey findings in a new report. Injection Devices for At-Risk Populations is a comprehensive assessment of this emerging drug delivery segment. As the drug delivery market transitions from standard protocols to a patient needs-based approach in lockstep with personalized medicine, we expect competition in this segment to intensify.
More information is available at www.appliedmarketdata.com
About Applied Market Data
Applied Market Data is a management consulting firm focused on the areas of technology strategy, product commercialization, venture development, and market research. We assist technology companies in achieving their business objectives through the creation of detailed development strategies, product commercialization programs, and comprehensive market and technology research and analysis. Our market research publications are designed, researched and written to provide timely and insightful information and data on focused market segments, with the aim of providing market participants with the essential knowledge to refine and execute their marketing plans and attain their financial targets.
Source: Applied Market Data