Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Global Wearable Injectors Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The global wearable injectors market size was estimated at USD 8.85 billion in 2023, projected to reach USD 55.84 billion by 2034 with a CAGR of 18.23% from 2024 to 2034. Key factors driving market growth include the increasing prevalence of chronic illnesses, a rising geriatric population, heightened concerns about needle stick injuries, growing demand for continuous monitoring and home-based treatment, robust healthcare infrastructure, an uptick in lifestyle disorders, surge in regulatory approvals, and strategic initiatives by leading market players such as partnerships, collaborations, mergers, and acquisitions.
The rising introduction of advanced wearable injectors for drug delivery is expected to boost market growth, enhancing both patient and healthcare worker safety by eliminating risks associated with conventional infusion and injection methods. Wearable injectors allow patients to self-administer medications subcutaneously at home, reducing the risk of needle stick injuries. Market players are innovatively introducing wearable injectors, such as the VertivaTM on-body delivery system launched by Stevanato in partnership with Thermo Fisher Scientific in June 2023.
In 2023, the on-body segment generated the highest revenue in the global wearable injectors market due to its comfort, water-resistant properties, and convenience for at-home use. The off-body segment is predicted to grow at the fastest CAGR during the forecast period, addressing potential risks associated with usage, such as painful removal and skin sensitivity.
The spring-based technology segment led in revenue in 2023, emphasizing ease of use for patient accuracy in subcutaneous medicine administration. The rotary pump segment is expected to grow at the fastest CAGR, driven by enhanced convenience and the increasing trend of mergers and acquisitions among market participants.
In terms of application, oncology dominated revenue in 2023 due to the increasing incidence of cancer and a growing preference for self-administration of medication. The infectious disease segment is predicted to grow at the fastest CAGR, driven by the rising occurrence of emerging infectious diseases.
Home care was the highest revenue-grossing end-user segment in 2023, driven by the increasing demand for home-based healthcare and advanced drug delivery devices. The hospital segment is expected to grow at the fastest CAGR, driven by the rising incidence of chronic diseases.
The North America region is expected to have the highest revenue share during the forecast period, driven by the increasing prevalence of chronic and lifestyle-related diseases. The Asia Pacific region is predicted to grow at the fastest CAGR, supported by government initiatives, a growing elderly population, increased healthcare spending, rising awareness about wearable injectors, and a notable uptick in mergers and acquisitions.
Wearable Injectors market analysis & forecast (revenue US$ billion) through 2023-2034 by:
Type
- Off-body
- On-body
Technology
- Rotary Pump
- Motor-Driven
- Spring-based
- Expanding Battery
- Other
Application
- Cardiovascular Disease
- Autoimmune Disease
- Immunodeficiency
- Infectious Disease
- Oncology
- Others
End-user
- Home Care
- Hospitals
- Clinics
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Companies Mentioned
- West Pharmaceutical Services Inc.
- F. Hoffmann-La Roche Ltd.
- Johnson & Johnson Services Inc.
- Steady Med Therapeutics Inc.
- BD
- Amgen Inc.
- CeQur Simplicity
- Insulet Corporation
- Unilife Corporation
- Enable Injections
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $8.85 Billion |
| Forecasted Market Value (USD) by 2034 | $55.84 Billion |
| Compound Annual Growth Rate | 18.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ne8dva
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
