Global Wearable Injectors Market Insights Forecasts to 2032
- The Global Wearable Injectors Market Size was valued at USD 42.6 Billion in 2022.
- The Market is growing at a CAGR of 11.4% from 2022 to 2032.
- The Worldwide Wearable Injectors Market size is expected to reach USD 16.8 Billion by 2032.
- Asia Pacific is expected to Grow the fastest during the forecast period.
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The Global Wearable Injectors Market Size is expected to reach USD 16.8 Billion by 2032, at a CAGR of 11.4% during the forecast period 2022 to 2032.
Wearable injectors are medicine delivery devices that attach to the body and give predetermined dosages to patients at the ideal moment. Wearable injectors, as opposed to insulin pumps, are single-use devices that are comfortably worn on the body while the medicine is subcutaneously injected over a pre-programmed period of seconds or hours. They are taken from the body and readily disposed of once the dosage has been fully injected. The notion of patient-centricity and a greater emphasis on human aspects in medication delivery design has aided in the development of such devices. It is a mechanism for injection that does not require the use of a person's hands. It is intended to autonomously administer very viscous biotechnological medications subcutaneously. It delivers medications to the subcutaneous tissue. It forces people to take charge of their therapy. It gives predetermined dosages to the patient at appropriate periods. It is a step forward in the treatment of chronic diseases.
This research report categorizes the global wearable injectors market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global wearable injectors market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global wearable injectors market. Technological innovation and advancement will further optimize the performance of the product, enabling it to acquire a wider range of applications in the downstream market.
Global Wearable Injectors Market Report Coverage
|Market Size in 2022:||USD 42.6 Billion|
|Forecast Period 2022-2032 CAGR:||11.4%|
|2032 Value Projection:||USD 16.8 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||130|
|Segments covered:||By Product Type, By Therapy, By Technology, By End Users, By Region, and COVID-19 Impact Analysis|
|Companies Covered:||Becton, Dickinson, and Company, Johnson & Johnson Services, Inc., F. Hoffmann-La Roche Ltd., Unilife Corporation, Steady Med Therapeutics, Inc., Amgen Inc., Insulet Corporation, Enable Injections, West Pharmaceutical Services, Inc., and CeQur SA|
|Pitfalls & Challenges:||COVID-19 has the potential to impact the global market|
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The rising frequency of chronic illnesses has increased the emphasis on wearable injector devices to properly manage the increasing patient pool and promote patient adherence to medicines. Chronic illnesses such as diabetes and cardiovascular ailments require daily or weekly injections, emphasizing the need for and acceptance of easy and effective injection methods. According to the International Diabetes Federation, 463 million individuals worldwide were diagnosed with diabetes in 2019; this number is anticipated to rise to 700 million by 2045. Because of the increasing disease prevalence, market players offering wearable injectors have focused on product launches, resulting in the introduction of products such as Amgen's Repatha Pushtronex system (using West Pharmaceutical's SmartDose Technology platform) and the Neulasta (pegfilgrastim) OnPro kit for the treatment of neutropenia in cancer. As illness prevalence rises in the next years, so will the demand for effective and cutting-edge treatment options like wearable injectors.
Wearable injectors are utilized instead of admitting the patient to a medical institution for clinical assistance. To gain widespread acceptance, technological platforms must keep additional cost increases to pharmaceutical firms, healthcare payers, and consumers to a minimum. Wearable injectors are less popular among end users due to their greater cost as compared to oral medicine or medication given by an autoinjector.
- In 2022, the on-body segment is dominating the market with the largest market share during the forecast period.
Based on product type, the global wearable injectors market is segmented into different segments such as on-body and off-body. Throughout these segments, the on-body segment has the biggest revenue share over the predicted period. This is owing to increased demand for the product, which is comfortable to wear on the skin. It is also water resistant. It provides several advantages, including lower healthcare expenses, lifecycle management, dose frequency modifications, and chilled medicine automatic warming. The following are the advantages of on-body wearable injectors:
- Healthcare expenses are reduced (the frequency of hospital visits is reduced).
- Management of the lifecycle (intravenous to subcutaneous)
- Modifications to the dosing schedule
- Dosing flexibility
- Warming of refrigerated drugs automatically
- In 2022, the diabetes segment is influencing the largest market share over the forecast period.
Based on therapy, the global wearable injectors market is classified into immuno-oncology, diabetes, & cardiovascular diseases. Among these segments, the diabetes segment is dominating the market. The expanding availability of wearable injectors for the treatment of the world's high diabetes burden can be attributable to the huge proportion of this category.
- In 2022, the spring-based segment is dominating the market with the largest market share during the forecast period.
On the basis of technology, the global wearable injectors market is bifurcated into different segments such as spring-based, motor-driven, rotary pump, expanding battery, & others. Among these segments, the spring-based segment has the biggest revenue share over the predicted period because of its ease of use and capacity to accurately administer medication subcutaneously by simply pressing one or more buttons on the device. According to research, the spring-based wearable Subcuject injector accurately delivers a 3 mL, 1 cP viscous dose in 4 minutes.
- In 2022, the hospitals & clinics segment is dominating the largest market share during the forecast period.
Based on end user, the global wearable injectors market is classified into hospitals & clinics, and home healthcare settings. Among these segments, the hospitals & clinics segment is dominating the market. The growing desire to reduce healthcare expenditures, as well as the growing demand for self-administration of medication, account for a high proportion of this market.
Regional Segment Analysis of the wearable injectors market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America is dominating the market with the largest market revenue share during the forecast period
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North America is leading the significant market growth during the forecast period, due to the increasing frequency of chronic illnesses and lifestyle-related ailments, as well as the availability of advanced healthcare infrastructure. Furthermore, the presence of leading market participants in the United States, such as Becton, Dickinson, and Company; Johnson & Johnson Services, Inc.; Unilife Corporation; Steady Med Therapeutics, Inc.; Amgen, Inc.; and Enable Injections, is projected to enhance the market.
In Asia Pacific, the market for wearable injectors market is predicted to develop rapidly over the forecast period owing to Favorable regulations for the use of medical equipment such as wearable injectors, an expanding older population, and rising healthcare costs in this region are all factors.
The report offers the appropriate analysis of the key organizations/companies involved within the global wearable injectors market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Becton, Dickinson, and Company
- Johnson & Johnson Services, Inc.
- F. Hoffmann-La Roche Ltd.
- Unilife Corporation
- Steady Med Therapeutics, Inc.
- Amgen Inc.
- Insulet Corporation
- Enable Injections
- West Pharmaceutical Services, Inc.
- CeQur SA
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In April 2021, Medtronic Announces the European Launch of the World's First Infusion Set with a Wear Time of Up to Seven Days to Help Reduce Diabetes Burden.
- In April 2021, Amgen purchased Five Prime Therapeutics. This cash transaction for USD 38.00 per share was intended to advance immuno-oncology and targeted cancer medicines.
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Wearable Injectors Market based on the below-mentioned segments:
Global Wearable Injectors Market, By Product Type
Global Wearable Injectors Market, By Therapy
- Cardiovascular Diseases
Global Wearable Injectors Market, By Technology
- Rotary Pump
- Expanding Battery
Global Wearable Injectors Market, By End User
- Hospitals & Clinics
- Home Healthcare Settings
Wearable Injectors Market, By Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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