USD 6.66 billion
Report ID:
SQSG35B2020 |
Region:
Global |
Published Date: December, 2024
Pages:
263
|Tables:
63
|Figures:
76
Wearable Injectors Market size was valued at USD 7.65 Billion in 2023 and is poised to grow from USD 8.82 Billion in 2024 to USD 27.54 Billion by 2032, growing at a CAGR of 15.29% during the forecast period (2025-2032).
Wearable injectors increase the safety of patients and health workers by eliminating the risks of traditional injection technology, such as medications, needle insertion, caps and needle removal. But one of the biggest problems in developing countries is developed countries is rising health costs. Countries strive to provide high quality and affordable health care. Patients can use wearable subcutaneous injections at home with wearable injectors. They are expected to reduce the frequency of visits to hospitals or other healthcare facilities and reduce healthcare costs.
With advanced injection technology, the patient is never in need of an injection. When the injector is attached, the needle is inserted by pressing the button.
As soon as the product is released, the patient is alerted by tactile, audible and visual cues, and the needle retracts and closes automatically, allowing safe, easy removal of the device. No needle stick injury compared to intravenous injection and parenteral administration using a wearable injector.
US Wearable Injectors Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 6.66 billion
Largest Segment
On-body
Fastest Growth
Off-body
Growth Rate
15.29% CAGR
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Global Wearable Injectors Market is segmented by Type, Technology, Indications, End User and region. Based on Type, the market is segmented into On-body Wearable Injectors, Off-body Wearable Injectors, Device-Only Wearable Injectors. Based on Technology, the market is segmented into Spring-Based, Motor Drive, Expanding Battery, Rotary Pump, Other. Based on Indications, the market is segmented into Diabetes, Immuno- Oncology, Cardiovascular, Chronic Pain. Based on End User, the market is segmented into Hospital & Clinic, Homecare, Other. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Wearable Injectors Market Analysis by End Use
The home care segment led the market with an estimated 42.0% revenue share in 2023. Growing demand for home-based healthcare and advanced device delivery that requires minimal expertise is expected demand for wearable injectors worldwide. Low cost of mandatory injectables and growing demand to reduce healthcare costs is expected to drive the home care segment. According to study, wearable injectables cost US$1, $20 to $30, while the injection costs US$30, $200 to $1,000 or more.
The hospital segment is expected to expand rapidly with the increasing prevalence of chronic disorders and increased patients to the hospital. Cancer patients generally require frequent administration of drugs, they go to the hospital regularly. Specialty hospitals are also expanding. Connecting in-body injectors to cloud data enables physicians to track patient profiles and monitor medication adherence, increasing the frequency of doctor-patient contact through an integrated healthcare model that previously wasn’t monitored during hospitalization.
Wearable Injectors Market Analysis by Therapy
Oncology segment held the largest market share of 29.5% in 2023 and is likely to dominate the market due to increasing incidence of cancer and increasing shift towards self-administered drugs among patients. Today there are many drugs in the market however, the patient must frequently visit a health facility to use it, which increases costs and inconvenience. The Canadian Cancer Society estimates that in 2022, approximately 13% of Canadians were diagnosed with lung cancer, accounting for 24% of all cancer deaths with cancer on the rise and an increasing trend for patients to self-medicate.
The infectious disease segment is expected to grow rapidly at a CAGR of 18.35% during the forecast period. The World Health Organization (WHO) has reported that about 20 million deaths annually worldwide are caused by infectious diseases. Emerging, new or more affective infectious diseases, such as coronavirus, Ebola, salmonella, hepatitis A, West Nile virus, growing demand for injectables. Growing demand increase to offer advanced medicines is one of the major factors driving the global market growth.
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North America play a dominant role in the growth of the wearable injectors market, each with distinctive factors driving their growth. North America especially the US. leading to improved healthcare, increasing acceptance of new technologies. In addition to the strong emphasis on home health through the presence of pharmaceutical and medtech companies, chronic diseases such as diabetes and cancer are on the way higher increases the demand for wearable injectables in this region. North America’s favourable reimbursement and regulatory policies and support the region. The region is also an R&D hub, which provides technologies internal growth occurs in drug delivery systems, making it a key player in market growth.
Asia-Pacific grows rapidly due to factors such as expanding healthcare services, rising healthcare costs and medical due to increased knowledge of advanced technology. This has led to an increased demand for wearable injectables. Furthermore, growing aging population in Asia Pacific, and increasing government investment in healthcare are driving market expansion but challenges associated with cost savings and access to healthcare in countries which are just undergoing some development may slow adoption rates in some regions. However, the region’s large population and highly focused personalized healthcare are expected to drive significant growth, positioning Asia Pacific as the key future market for injectables.
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Wearable Injectors Market Driver
Increasing Prevalence of Chronic Diseases
Technological Advances in Drug Delivery
Restraints
High Cost of Forced Injectors
Regulatory Challenges and Approval Delays
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The market is fragmented with high competition worldwide due to the presence of major key players. These players focus on growth strategies, such as new product launches, collaborations, partnerships, business expansions, mergers & acquisitions, and patient campaigns in March 2021. Aptar and Noble International dne pharma, North European addiction treatment the first to announce a collaborative implementation the innovative Unidos Liquid system by Ventizolv, Aptar and Noble. The partnership aims to prevent the potentially deadly effects of opioid overdoses in Europe as soon as possible.
Top Players in the Global Wearable Injector Market
Wearable Injectors Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the global wearable injectors market is driven by rising incidence of chronic diseases and technological advancements in drug delivery systems, but high cost and regulatory challenges remain a major restriction, limiting the growth of the market. Key trends such as shift towards personalized medicine, growing home healthcare services are shaping the future of this market, making wearable injectables an important tool in modern patient care. Despite challenges the market is poised for growth due to the continuous demand for simple and effective medicines medical solutions.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 7.65 Billion |
Market size value in 2032 | USD 27.54 Billion |
Growth Rate | 15.29% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Wearable Injectors Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Wearable Injectors Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Wearable Injectors Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Report ID: SQSG35B2020
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