The global wearable injectors market size was valued at USD 6.64 Bn in 2022 and is projected to reach USD 27.28 Bn by 2031, expanding at a CAGR of 17% during the forecast period, 2023–2031. The growth of the market is attributed to the rising prevalence of chronic diseases, such as diabetes, cardiovascular disease, and cancer globally.
Wearable injectors are medication delivery systems that monitor the human body and provide significant amounts of pharmaceuticals subcutaneously over time. Recent advancements in biotechnology have resulted in the production of a wide spectrum of protein-based compounds that must be injected in order to achieve improved therapeutic effects.
Key suppliers are working on creating big volume wearable injectors devices to satisfy the volume constraints of current intramuscular and subcutaneous administration systems.
The COVID-19 pandemic outbreak had positive impact on the market. During the pandemic, there has been a shift in medical priorities among healthcare organizations, with the treatment of COVID-19 patients taking precedence. This resulted in the growth of the wearable injectors market.
Wearable Injectors Market Trends, Drivers, Restraints, and Opportunities
- Shift of healthcare delivery toward homecare is one of the key factors driving the market growth.
- Growing demand of convenient methods of drug administration is expected to boost the market growth in the coming years.
- Stringent government regulation for product approval presents a major challenge. This is likely to hinder the market growth during the forecast period.
- Rising preference for traditional methods of drug delivery is expected to hamper the market growth during the projected timeline.
- Increasing demand for biologics and monoclonal antibody is projected to create significant growth opportunities for the market in the near future.
Scope of Wearable Injectors Market Report
The report on the global wearable injectors market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Wearable Injectors Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Applications (Cardiovascular Diseases, Autoimmune Diseases, Oncology, Infectious Diseases, and Others), Types (Off-body and On-body), Technology (Expanding Battery, Motor-driven, Spring-based, Rotary Pump, and Others), and End-users (Clinics, Home Care, Hospitals, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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CeQur SA; West Pharmaceutical Services, Inc.; Becton, Dickinson and Company; F. Hoffmann-La Roche AG; Unilife Corp.; SteadyMed Therapeutics, Inc.; Amgen, Inc.; Insulet Corp.; Enable Injections, Inc.; and Johnson & Johnson Pvt. Ltd.
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Wearable Injectors Market Segment Insights
Applications Segment Analysis
Based on applications, the global wearable injectors market is divided into cardiovascular diseases, autoimmune diseases, oncology, infectious diseases, and others. The oncology segment is expected to grow at a rapid pace during the forecast period owing to the increased incidence of cancer, combined with a growing trend among patients to self-administer medication.
However, the autoimmune diseases segment is anticipated to hold a key share of the market in the coming years due to their competitive advantage over insulin pumps, the rising prevalence of diabetes, and the increasing acceptance of wearable injectors.
Types Segment Analysis
On the basis of types, the market is bifurcated into off-body and on-body. The on-body segment is projected to expand at a considerable CAGR during the forecast period attributed to the properties, such as being water-resistant, convenient to use at home, and comfortable to put on the skin particularly the stomach.
On the other hand, the off-body segment is anticipated to account for a major market share during the forecast period as these devices remove risks including painful device removal, skin adhesive fitting difficulties, and skin sensitivity or irritation.
Technology Segment Analysis
In terms of technology, the global wearable injectors market is segmented into expanding battery, motor-driven, spring-based, rotary pump, and others. The spring-based segment is anticipated to hold significant market share in the coming years owing to the increasing prevalence of adhesive patches, which are easy to apply and allow patients to inject drugs subcutaneously by pressing one or more buttons on the device.
However, the motor-driven segment is expected to register a considerable CAGR during the forecast period due to growing customer need for motor-driven devices as these are considerably convenient in use when compared with other devices.
End-users Segment Analysis
On the basis of end-users, the market is segregated into clinics, home care, hospitals, and others. The home care segment is estimated to expand at robust growth rate during the forecast period attributed to the increasing need to curb healthcare costs and rising preference for self-administration of medication. On the other hand, the hospitals segment is expected to grow at a significant rate due to the increasing number of hospitals across the globe.
Regional Analysis
In terms of regions, the global wearable injectors market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to the rising prevalence of lifestyle-related and chronic diseases and the presence of sophisticated healthcare infrastructure in the region.
However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period attributed to the wide diabetic population, increasing geriatric population, and the rise in the number of chronic diseases across the region.
Segments
The global wearable injectors market has been segmented on the basis of
Applications
- Cardiovascular Diseases
- Autoimmune Diseases
- Oncology
- Infectious Diseases
- Others
Types
Technology
- Expanding Battery
- Motor-driven
- Spring-based
- Rotary Pump
- Others
End-users
- Clinics
- Home Care
- Hospitals
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global wearable injectors market are CeQur SA; West Pharmaceutical Services, Inc.; Becton, Dickinson and Company; F. Hoffmann-La Roche AG; Unilife Corp.; SteadyMed Therapeutics, Inc.; Amgen, Inc.; Insulet Corp.; Enable Injections, Inc.; and Johnson & Johnson Pvt. Ltd.
As part of their efforts to acquire a competitive advantage over competitors and expand their client base, manufacturers operating in the market have opted numerous strategic initiatives, such as collaborations, mergers & acquisitions, and partnerships. Moreover, companies are focusing on investment in R&D for launching new products and development to maintain their competitive positions in the market.
For instance, in June 2020, Insulet Corp. along with its Omnipod Insulin Management System, a global leader in tubeless insulin pump technology, expanded its financial aid program for its customers in the United States.
The consumer may receive up to a six-month supply of products (60 Pods) for free as part of the program. Customers who lost their employment and insurance as a result of the pandemic and were not covered by Medicaid or other insurance were eligible for the program.