IMARC Group, a leading market research company, has recently released a report titled “Wearable Injectors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”. The study provides a detailed analysis of the industry, including the wearable injectors market growth, size, share, trends and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Wearable Injectors Market?
The global wearable injectors market size reached a value of US$ 6.6 Billion in 2022 and it is expected to reach US$ 15.6 Billion by 2028, exhibiting a CAGR of 14.8% during 2023-2028.
What are Wearable Injectors?
Wearable injectors (WIs) or patch pumps are medical devices developed to provide single-step administration of medicines for extended durations. They are designed to deliver precise doses of medication at optimal intervals and are attached to the skin for subcutaneous delivery of high-viscosity drugs in large volumes. In addition, they comprise a drug reservoir for storing the drug, a cannula for administering medication, and a drive system that ensures accurate dosing. Moreover, they are disposable, user-friendly, and cause minimal discomfort to patients compared to traditional vials and syringes. Owing to these benefits, wearable injectors are extensively adopted in hospitals, clinics, and home care across the globe.
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What are the growth prospects and trends in the wearable injectors industry?
The market is primarily driven by the increasing occurrences of chronic diseases, including diabetes, cancer, rheumatoid arthritis, cardiovascular diseases (CVDs), and various oncological, neurological, and autoimmune disorders. In addition, the growing geriatric population, the rising concern over needle stick injuries, and the escalating demand for continuous monitoring are contributing to the market growth. In line with this, the recent coronavirus disease (COVID-19) pandemic escalated the demand for medical supplies and equipment to stop the spread of the virus, resulting in the promotion of home-based therapies thus, influencing the market growth. Moreover, on-body wearable injector devices offer numerous benefits such as water resistance, convenience, comfort, flexible dosing, changes in dosage frequency, and reduced hospital visits which represents another major growth-inducing factor. Besides this, numerous technological advancements, including wireless connectivity and Bluetooth integration with injectors, digital displays, and smartphones, are accelerating the product adoption rate. Along with this, several government initiatives promoting the use of medical tools, such as wearable injectors, are propelling the market growth. Apart from this, the wearable injectors market is growing at different rates in numerous regions, with North America being one of the largest markets due to the growing occurrences of chronic ailments, favorable government initiatives, several technological advancements, and new product launches across the region. Moreover, the industry is expected to face competition in the upcoming years as numerous key players are implementing competitive strategies to sustain their presence in the market. For instance, in November 2017, West Pharmaceutical Services introduced an expansion of its SmartDose drug delivery platform that incorporated numerous new wearable injectors capable of conveniently delivering up to 10 mL of volume to patients. Additionally, in 2018, BD introduced Libertas, a wearable injector capable of subcutaneously delivering large-volume and high-viscosity drugs. Furthermore, the rising healthcare expenditure and mergers and acquisitions (MA) among leading market players are creating a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- On-body
- Off-body
Breakup by Technology:
- Spring-based
- Motor-driven
- Rotary Pump
- Expanding Battery
- Others
Breakup by Application:
- Oncology
- Infectious Diseases
- Cardiovascular Diseases
- Autoimmune Diseases
- Others
Breakup by End Use:
- Hospitals and Clinics
- Home Care
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Becton Dickinson and Company
- CeQur SA
- Debiotech SA
- Dexcom Inc.
- Enable Injections Inc.
- Gerresheimer AG
- Insulet Corporation
- Tandem Diabetes Care Inc.
- West Pharmaceutical Services Inc.
- Ypsomed AG
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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