Comprehensive market analysis of wearable injectors 2021-2030

Wearable injectors are small drug delivery systems intended to administer medications continuously for extended periods. They are placed briefly on the skin to quickly and safely administer viscous medications in large quantities via the body's subcutaneous tissues. Wearable injectors are disposable, user-friendly, and far less painful than commonly used vials and syringes. As a result, they are frequently employed in managing cardiovascular, diabetic, rheumatoid, and cancer disorders.

 

In 2021, the market value of wearable injectors was worth USD 6.17 billion, and by 2030 it will reach USD 17.75 billion, expanding at a 12.46% CAGR during the forecast period. 

 

The rising frequency of chronic diseases such as diabetes, cancer, and cardiovascular problems would contribute to the growth of the wearable injector market. The industry is also being driven by a growing number of biological drugs being developed, which are difficult to administer via syringes.

 

Market Dynamics

 

Drivers

 

The factor boosting the market's growth is the rising prevalence of chronic illnesses such as oncological, neurological, and autoimmune disorders. In addition, the aging population, which is more vulnerable to certain diseases, and the increased demand for minimally invasive (MI) treatment options among patients are boosting the market's expansion. Injectors that may be used at home and by the user themselves are also becoming more popular since they offer excellent disease management with a low risk of dosage error and needle stick accidents. Further growth-promoting aspects include a number of product developments, such as the incorporation of Bluetooth, wireless communication, and passive warning systems with injectors. 

 

Furthermore, the market may be constrain by rising demand for alternative drug delivery methods and unfavorable reimbursement arrangements.

 

Opportunity 

 

The different approaches used by the major market players to introduce cutting-edge products will boost market expansion during the forecast period. For instance, in February 2021, Subcuject, a global innovator of proprietary device platforms, and Phillips-Medisize collaborated to commercialize a revolutionary wearable bolus injector. With such product introductions, the market for wearable injectors will have substantial growth during the forecast period.

 

Market Segmentation

 

By Technology

 

On the basis of type, the wearable injectors market is segment into the rotary pump, spring-based, expanding battery, motor-driven, and others. 

 

The spring-based segment was the biggest market contributor in 2021, with a revenue share of nearly 35.91%. The largest market share of this segment is because it is user-friendly and allows patients to accurately administer the medication subcutaneously by pressing one or more buttons on the device.

 

Furthermore, the rotary pump segment will expand at a rapid rate of 15.47% CAGR because they are easier to use than other wearable injectors.

 

By Application

 

On the basis of application, the wearable injectors market is segment into cardiovascular diseases, autoimmune diseases, infectious diseases, oncology, and others. 

 

In 2021, the oncology segment ruled the market with a significant revenue share of nearly 29.94%. It is primarily due to the rising rate of cancer and patients' increasing tendency to self-administer their medications. Per the Canadian Cancer Society, about 7% of Canadian men will develop lung. And bronchus cancer leading to nearly 5% of deaths. Also, the market will rise due to technical developments. And the availability of wearable injectors for the treatment of these disorders. 

 

By End-Use

 

On the basis of end-user, the market is segment into clinics, hospitals, homecare, and others. 

 

In 2021, the home care segment led the entire market with a revenue share of approximately 41.8%. The largest share of this segment is due to the growing need for home-based healthcare. And the need for advanced drug delivery devices that requires less expertise and fewer hospitalization rate of patients. Additionally, the home care segment is also drive by the low cost of wearable injectors. And the growing desire to reduce healthcare costs.

 

Regional Analysis 

 

In 2021, North America was the biggest regional market, with a 15.215 CAGR and revenue of nearly USD 2,212.6 million. The largest market share is due to the expanding rate of chronic disorders and lifestyle-related ailments. And the presence of advanced healthcare infrastructure. Furthermore, the demand for the wearable injector market is drive by the introduction of numerous novel medications that can successfully cure chronic diseases. Also, the growing acceptance of tailored pharmaceuticals may have a favorable effect on the market in the coming years.

Furthermore, Asia Pacific will expand at a rapid rate of 15.58% CAGR. This growth is due to the region's favorable government initiatives supporting the use of medical devices like wearable injectors. The growing geriatric population, and rising healthcare spending.

 

Key Players 

 

• Johnson & Johnson Services, Inc.
• Becton, Dickinson, and Company
• Unilife Corporation
• Amgen, Inc.
• Ypsomed
• Hoffmann-La Roche Ltd.
• SteadyMed Therapeutics, Inc.
• Insulet Corporation
• West Pharmaceutical Services, Inc.
• Enable Injections
• CeQur SA

 

 

In 2021, the market value of wearable injectors was worth USD 6.17 billion. And by 2030 it will reach USD 17.75 billion, expanding at a 12.46% CAGR during the forecast period. The rising rate of chronic illnesses, expanding senior population. And the increased concern over needle stick injuries are the key factors stimulating market expansion.

 

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