New York, USA, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Wearable Injectors Global Market Size and Share to Rise at an Incredible CAGR of ~13% by 2028 | DelveInsight
The wearable injectors market is expected to rise rapidly, because of rising rates of chronic diseases such as cancer, diabetes, and cardiovascular disease, among others. Furthermore, rising worry about the risks and restrictions of needle sticks, the rising need and need for patient compliance to treatment, and rising innovations and technological improvements in the device would produce a market demand for wearable injectors. Furthermore, rising product releases and approvals, as well as expanding reimbursement scenarios globally, will drive the wearable injectors market forward.
DelveInsight’s Wearable Injectors Market Insights report provides the current and forecast market analysis, individual leading wearable injectors companies’ market shares, challenges, wearable injectors market drivers, barriers, trends, and key market wearable injectors companies in the market.
Key Takeaways from the Wearable Injectors Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global wearable injectors market during the forecast period.
- Notable wearable injectors companies such as BD, Ypsomed, Amgen Inc., West Pharmaceutical Services, Inc., Stevanato Group, Eitan Medical, United Therapeutic Corporation, Bühler Motor GmbH, Sonceboz, Subcuject Aps, Nemera, SHL Medical AG, Gerresheimer AG, Insulet Corporation, CeQur SA, and several others, are currently operating in the wearable injectors market.
- In June 2022, AbbVie received United States Food and Drug Administration (FDA) approval for SKYRIZI (risankizumab-rzaa) as the first and only specific interleukin-23 (IL-23) inhibitor for the treatment of adults with moderately to severely active Crohn's disease (CD). It can be self-administered by subcutaneous injection (SC) with an on-body injector (OBI).
- In February 2022, Enable Injections raised a USD 215 million round to fund work on the subcutaneous drug delivery system enFuse. The device consists of a wearable delivery disc and a system for transferring the drug from its original vessel.
To read more about the latest highlights related to the wearable injectors market, get a snapshot of the key highlights entailed in the Global Wearable Injectors Market Report
Wearable Injectors Overview
Wearable injectors represent a remarkable advancement in medical technology, seamlessly merging the worlds of medical devices and wearable gadgets. These innovative devices are designed to administer a range of medications, such as biologics, insulin, or other therapeutic agents, in a convenient and controlled manner. What sets wearable injectors apart is their user-friendly design, allowing patients to adhere to prescribed treatment regimens with greater ease and comfort. Typically worn on the body like a patch or belt, these injectors automate the process of drug delivery, often reducing the need for frequent injections and hospital visits. This not only enhances patients’ quality of life but also improves medication adherence and overall treatment outcomes. As wearable injectors continue to evolve, they hold the potential to revolutionize the way chronic conditions are managed and treated, offering a glimpse into a more patient-centered and technologically empowered future of healthcare.
Wearable Injectors Market Insights
North America is predicted to lead the global wearable injectors market in 2023 and will continue to do so during the forecast period of 2023–2028. This dominance is attributed to the rising prevalence of chronic diseases and lifestyle-related diseases, the presence of sophisticated healthcare infrastructure, and the presence of key players in the region, among other factors, which are key contributors to the country’s wearable injectors market growth and are expected to aid in the growth of the North America wearable injectors devices market.
Furthermore, several strategic activities undertaken by market participants, such as product launches, collaborations, mergers, and acquisitions, are projected to enhance the North American wearable injectors market. For example, CeQur, a Marlborough-based insulin delivery device manufacturer, raised USD 115 million in funding in April 2021 to launch its wearable insulin injector, CeQur Simplicity.
To know more about why North America is leading the market growth in the wearable injectors market, get a snapshot of the Wearable Injectors Market Outlook
Wearable Injectors Market Dynamics
Cancer is the largest cause of mortality worldwide, accounting for roughly 10 million deaths in 2020, according to the World Health Organisation (WHO) 2022 factsheet. Breast cancer had 2.26 million new cases in 2020, followed by lung cancer with 2.21 million cases, colon and rectal cancer with 1.93 million new cases, prostate cancer with 1.41 million cases, skin cancer with 1.20 million cases, and stomach cancer with 1.09 million cases worldwide. As a result of the increasing frequency of chronic diseases, there will be a growth in demand for wearable injectors, which are used to provide various drugs to patients suffering from chronic diseases over a longer length of time. Cardiovascular disorders are widely regarded as the major cause of death worldwide. The various methods used by key market players to offer novel goods are also projected to boost wearable injectors market expansion over the forecast period.
However, the desire for alternate drug delivery modes, some adverse effects produced by the system’s nanoparticles, and the high cost of wearable injectors, among other factors, may stymie the global wearable injector market’s growth.
The COVID-19 pandemic has had a tremendous impact on the wearable injector market. The pandemic’s outbreak resulted in strict social distancing norms, reduced socializing among people, and restrictions on mobility among consumers, resulting in a drop in wearable injectors usage, with consumers finding it difficult to visit stores to buy the wearable injectors, lowering demand and the overall wearable injectors market during the lockdown’s initial phase.
However, the rising demand for wearable injectors for drug self-administration during the pandemic resulted in a rise in demand for wearable injectors. Furthermore, with the reduction of the supply chain, manufacturing, and lockup constraints, as well as the increasing trend of e-commerce sales for wearable injectors, the wearable injectors market expanded at a healthy rate. As a result of the aforementioned factors, the wearable injectors market experienced profitable growth in the second half of the pandemic, and the trend is expected to continue in the next years.
Get a sneak peek at the wearable injectors market dynamics @ Wearable Injectors Market Dynamics Analysis
| Report Metrics | Details |
| Coverage | Global |
| Study Period | 2020–2028 |
| Wearable Injectors Market CAGR | ~13% |
| Wearable Injectors Market Size by 2028 | USD 13.8 Billion |
| Key Wearable Injectors Companies | BD, Ypsomed, Amgen Inc., West Pharmaceutical Services, Inc., Stevanato Group, Eitan Medical, United Therapeutic Corporation, Bühler Motor GmbH, Sonceboz, Subcuject Aps, Nemera, SHL Medical AG, Gerresheimer AG, Insulet Corporation, CeQur SA, among others |
Wearable Injectors Market Assessment
- Wearable Injectors Market Segmentation
- Wearable Injectors Market Segmentation By Type: On-Body Injectors and Off-Body Injectors
- Wearable Injectors Market Segmentation By Indication: Oncology, Autoimmune Disease, Diabetes, Cardiovascular Disease, and Others
- Wearable Injectors Market Segmentation By End User: Hospitals & Clinics, Home Care, and Others
- Wearable Injectors Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Which MedTech key players in the wearable injectors market are set to emerge as the trendsetter explore @ Wearable Injectors Companies
Table of Contents
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Key Factors Analysis |
| 5 | Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Wearable Injectors Market |
| 7 | Wearable Injectors Market Layout |
| 8 | Global Company Share Analysis – Key 3-5 Companies |
| 9 | Wearable Injectors Market Company and Product Profiles |
| 10 | Project Approach |
| 11 | About DelveInsight |
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