Chicago, Aug. 31, 2023 (GLOBE NEWSWIRE) -- In the near future, the wearable injectors industry is poised to undergo a transformative evolution, redefining the landscape of medical treatment and patient care. These innovative devices, seamlessly integrating advanced technology with healthcare, will enable individuals to self-administer a wide range of therapies, from biologics to personalized medicine, with unprecedented convenience and precision. The convergence of miniaturization, sensor technology, and smart connectivity will empower healthcare providers to remotely monitor patient adherence and vital signs, revolutionizing chronic disease management. This shift towards patient-centric, on-demand treatment modalities is anticipated to enhance treatment outcomes, reduce hospitalizations, and ultimately foster a new era of proactive and individualized healthcare.
Wearable Injectors market in terms of revenue was estimated to be worth $7.2 billion in 2021 and is poised to reach $11.5 billion by 2026, growing at a CAGR of 9.9% from 2021 to 2026 according to a latest report published by MarketsandMarkets™. Growth in this market is mainly driven by factors such as the shift of healthcare delivery toward homecare due to COVID-19, advantages of wearable injectors in the administration of various drugs, the rising prevalence of chronic diseases (such as cancer, diabetes, and CVD), favorable reimbursement scenario in major markets, and technological advancements in injector devices. However, the preference for alternative drug delivery modes, high costs, and a poor reimbursement structure in developing countries are expected to limit the adoption of wearable injectors to a certain extent.
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Wearable Injectors Market Scope:
| Report Coverage | Details |
| Market Revenue in 2021 | $7.2 billion |
| Estimated Value by 2026 | $11.5 billion |
| Growth Rate | Poised to grow at a CAGR of 9.9% |
| Market Size Available for | 2019-2026 |
| Forecast Period | 2021-2026 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Wearable injectors Market: Type, Technology, Therapy and End User |
| Geographies Covered |
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| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Increasing demand for biologics and mAbs |
| Key Market Drivers | Shift of healthcare delivery toward homecare due to COVID-19 |
Wearable Injectors market major players covered in the report, such as:
- Becton, Dickinson and Company (US)
- Ypsomed (Switzerland)
- Amgen (US)
- Subcuject (Denmark)
- Enable Injections (US)
- Medtronic Plc (Ireland)
- Insulet Corporation (US)
- United Therapeutics Corp (Us)
- CeQur SA (Switzerland)
- Sensile Medical (Switzerland)
- Steadymed Therapeutics (US)
- ATS Automation (Canada)
- West Pharmaceutical Services, Inc (US)
- Unilife Corporation (UK)
- Tandem Diabetes Care (US)
- Valeritas (US)
- Bühler Motor (Switzerland)
- Sonceboz (Switzerland)
- Noble (US)
- Elcam Drug Delivery Device (Israel)
- Bespak (UK)
- Stevanato Group (Italy)
- Sorrel Medical (Israel)
- Weibel CDS AG (Switzerland) and Neuma (US)
- and Among Others
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The research report categorizes the market into the following segments:
Wearable Injectors Market, By Type
- On-body Injector
- Off-body Injector
Wearable Injectors Market, By Technology
- Spring Based
- Motor Based
- Rotary pump
- Expanding battery
- Other technology
Wearable Injectors Market, By Therapy
- Immuno-oncology
- Diabetes
- Cardiovascular disease
- Other disease
Wearable Injectors Market, By End User
- Hospitals and clinics
- Home healthcare setting
Wearable Injectors Market, by region
- North America North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific (RoAPAC)
- Latin America
- Middle East & Africa
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The key stakeholders in the Wearable Injectors market include:
- Medical Device Manufacturers and Developers: Companies that design, produce, and innovate wearable injector devices, driving technological advancements and market growth.
- Pharmaceutical and Biotechnology Companies: Organizations that collaborate to develop drug formulations compatible with wearable injectors, expanding treatment options and therapeutic possibilities.
- Healthcare Providers and Professionals: Medical professionals who integrate wearable injectors into patient treatment plans, monitor usage, and ensure proper administration for optimal therapeutic outcomes.
- Regulatory Agencies: Government bodies responsible for setting guidelines, reviewing safety, and approving wearable injector devices, ensuring compliance with quality and safety standards.
- Research Institutions: Academic and scientific organizations that contribute to the understanding of wearable injector technology, conduct studies, and advance knowledge about its efficacy and applications.
- Patients: Individuals who directly benefit from wearable injectors by experiencing more convenient and controlled administration of medications or therapies.
- Caregivers: Individuals, often family members or healthcare aides, who assist and support patients in using wearable injectors, especially for patients who require additional assistance.
These stakeholders collectively play pivotal roles in shaping the wearable injectors market, influencing its development, adoption, and impact on healthcare delivery.
Recent Developments:
- In April 2021, Medtronic launched the Infusion Set that can be worn up to seven days
- In April 2021, Amgen acquired Five Prime Therapeutics. This acquisition—for USD 38.00 per share in cash—was focused on developing immuno-oncology and targeted cancer therapies.
- In September 2020, Insulet Corporation expanded its presence in Sweden, Finland, Norway, and Denmark.
Frequently Asked Questions (FAQs) of Wearable Injectors Market:
Which are the top industry players in the global wearable injectors market?
The top market players in the global wearable injectors market include are Becton, Dickinson and Company (US), Ypsomed (Switzerland), Amgen (US), Subcuject (Denmark), Enable Injections, Inc(US), Medtronic plc (Ireland), Insulet Corporation (US), United Therapeutics Corp. (US), CeQur SA (Switzerland) and Sensile Medical (Switzerland).
Which are the segments that have been included in this report?
This report has the following main segments in the wearable injectors market:
- By Type
- By Technology
- By Therapy
- By End User
- By Region
Which geographical region is dominating in the wearable injectors market?
The global wearable injectors market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. In 2020, the North American region dominated the global wearable injectors market. The prominence of the North American region in this market can be attributed to the rising prevalence of chronic and lifestyle-related diseases and the presence of advanced healthcare infrastructure in the region.
Which is the leading segment in the wearable injectors market, by type?
The on-body accounted for the largest share in the forecast year. The large share of this segment can be attributed to the patients ease to deliver a precise amount of drug to the body over a controlled period of time.
What is the current size of the global wearable injectors market?
The global wearable injectors market is projected to reach USD 11.5 billion by 2026 from USD 7.2 billion in 2021, at a CAGR of 9.9% during the forecast period.
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Report Objectives:
- To define, describe, analyze, and forecast the size of the wearable injectors market on the basis of type, technology, therapy, end user and region.
- To provide detailed information on the major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
- To forecast the size of the market segments with respect to North America, Europe, Asia Pacific, latin America and Middle East and Africa.
- To profile key players and comprehensively analyze their product portfolios, market positions, and core competencies.
- To track and analyze competitive developments such as product launches, partnerships, acquisitions and other developments in the market.
- To benchmark players within the wearable injectors market using the Competitive Leadership Mapping framework which analyzes market players on various parameters within the broad categories of business and product strategy.
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