USD 6.66 billion
Wearable Injectors Market Size, Share, Growth Analysis, By Type(On-Body, Off-Body), By Therapy(Diabetes, Cardiovascular Disease, Oncology, Infectious Disease), By End Use(Home care and Hospital), By Region - Industry Forecast 2024-2031
Report ID:
SQSG35B2020 |
Region:
Global |
Published Date: February, 2024
Pages:
263
|Tables:
63
|Figures:
76
Wearable Injectors Market Insights
Wearable Injectors Market size was valued at USD 6.66 billion in 2019 and is poised to grow from USD 7.65 billion in 2023 to USD 23.89 billion by 2031, growing at a CAGR of 15.29% in the forecast period (2024-2031).
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.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Fastest Growth
Off-body
Growth Rate
15.29% CAGR
Global Wearable Injector Market, 2021-2028($ Bn)
Country Share for North America Region- 2021 (%)
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Wearable Injectors Market Segmental Analysis
The global wearable injectors market segmentation is based on type, therapy, and region. Based on type the market is segmented into on-body and off-body. Based on therapy the market is segmented into diabetes, cardiovascular disease, immuno-oncology, and others. Based on region the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the 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.
Global Wearable Injector Market By Type, 2021(%)
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Wearable Injectors Market Regional Insights
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.
Global Wearable Injector Market By Geography, 2021-2028
- Largest
- Fastest
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Wearable Injectors Market Dynamics
Wearable Injectors Market Driver
Increasing Prevalence of Chronic Diseases
- Increasing incidence of chronic conditions such as diabetes, cardiovascular diseases and cancer is a major driver for the wearable injectors market. These devices provide a convenient and it is less painful to administer medications to patients, resulting in better patient compliance. As the global burden of chronic diseases increases, especially in the elderly population, injectable wear is expected to continue to increase.
Technological Advances in Drug Delivery
- Continuous innovations in drug delivery, including improved automation, connectivity and accuracy are driving the adoption of wearable injectors. The combination of smart technology and IoT connectivity enables real-time monitoring, which enhances patient outcomes and provides actionable insights for healthcare professionals. These advances are expected to drive the market improved by increasing reliability and effectiveness of treatments.
Restraints
High Cost of Forced Injectors
- One of the major restraints in the global wearable injectors market is the high cost of these devices. The combination of advanced technology and sophisticated manufacturing processes makes them more expensive, and more inaccessible, and this economic restriction, especially in developing and low-income countries in many cases is a great challenge.
Regulatory Challenges and Approval Delays
- Stringent regulatory standards and complicated approval processes may hamper the introduction of new wearable injectors to the market. Regulatory agencies like the FDA and EMA require rigorous testing and proof of safety and effectiveness, prolonging time-to-market. This delays innovation and limits the growth potential of developers.
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Wearable Injectors Market Competitive Landscape
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
- Ypsomed
- Amgen
- Subcuject (Denmark)
- Becton, Dickinson and Company (BD)
- Bespak Europe Ltd.
- CeQur SA
- Debiotech SA
- Enable Injections
- Insulet Corporation
- Medtronic plc
- Mylan N.V.
- Nemera Development S.A.
- Omron Corporation
- Pfizer Inc.
- Roche Holding AG
- Sensile Medical AG
- SteadyMed Therapeutics, Inc.
- Tandem Diabetes Care, Inc.
- United Therapeutics Corporation
- West Pharmaceutical Services, Inc.
- Zosano Pharma Corporation
Wearable Injectors Market Recent Development
- In 2023, Enable Injections, Inc. expects 2023.2. and a U.S.-based biotechnology company of Viridian Therapeutics, Inc.; united, and extended the joint effort.
- In 2023, Tandem Diabetes Care, Inc. is expected to have 1.5% of its revenue. increased by 0.08%. has completed the acquisition of AMF Medical SA, known for its Sigi Patch Pump, strengthening its portfolio.
- In 2022, AbbVie acquired U.S. the FDA approved SKYRIZI, an interleukin-23 inhibitor, for the treatment of moderate-to-severe active Crohn’s disease. It is administered by subcutaneous injection, allowing patients to opt for self-administration with an On-Body Injector.
Wearable Injectors Key Market Trends
- Shift towards Personalized Medicine: A growing trend in the wearable injector market is the shift towards personalized medication delivery. With more and more biopharmaceutical companies developing products tailored to individual patients, wearable injectables are increasingly being developed to meet personalized treatment regimens. This trend improves not only patient outcomes but also does accuracy, reviving the demand for wearable injectables.
- Growth in Home Healthcare Industry: Growth in the home healthcare industry is another major trend in the wearable injector market. As many patients receive care in the comfort of their own homes, wearable injectables enable self-administered medications without the need for frequent hospital visits. This is especially important in the post-pandemic era, where the focus is on reducing personal contact in healthcare settings.
Wearable Injectors Market SkyQuest Analysis
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 2019 | USD 6.66 billion |
| Market size value in 2031 | USD 23.89 billion |
| Growth Rate | 15.29% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Wearable Injectors Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Wearable Injectors Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
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.
Analyst Support
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.
Regional Analysis: Further analysis of the Wearable Injectors Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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