Wearable Injectors Market Trend - Increasing Prevalence of Chronic Diseases Across the Globe
Increasing prevalence of chronic diseases across the globe, growing awareness about wearable injectors, and rising focus on developing advanced products are expected to drive global market growth
According to Emergen Research, the global wearable injectors market size was USD 6.75 billion in 2020 and is expected to reach USD 15.66 billion in 2028 and register a steady CAGR of 11.2% during the forecast period, 2021-2028.
Market Dynamics:
Wearable injectors are drug delivery systems that adhere to the body and automatically administrate set doses at specific times. These wearable injectors are single-use systems that can be conformably worn on the body while the drug is delivered subcutaneously over a pre-programmed period. Most of these wearable injectors are capable of storing large volumes of drugs and aid in tracking and managing doses to avoid double injections or missed injections. These devices enable patients to perform their daily routine activities seamlessly while receiving the medication continuously and comfortably.
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Factors such as increasing prevalence of chronic diseases such as cardiovascular diseases, diabetes, and cancer, rising geriatric population across the globe, ongoing research on self-injectable systems, and high preference for wearable injectors due to fear of needles, risk of stick-needle injuries are expected to drive global market revenue growth during the forecast period.
In addition, increasing focus on developing advanced, user-friendly, and cost-effective devices and high preference for homecare settings are expected to fuel market growth going ahead. However, low awareness about advanced wearable injector systems in many developing countries, high costs of certain wearable injectors, and high preference for alternative drug delivery methods are some factors that can hamper overall market growth to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Diabetes Segment To Register Rapid Revenue Growth:
The diabetes segment is expected to register rapid revenue growth during the forecast period. This can be attributed to increasing prevalence of diabetes across the globe, rising elderly population, rapid advancements in wearable injectors, and growing demand for advanced wearable injectors to track and manage diabetes therapy in homecare settings.
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Homecare Segment to Account for Largest Revenue Share:
The homecare segment is expected to account for largest revenue share during the forecast period owing to increasing geriatric population, large patient pool, rising preference for therapy in home environment, and high focus on developing advanced and cost-effective self-injections for homecare settings.
North America to Lead In Terms of Revenue Share:
North America is expected to dominate other regional markets in terms of revenue share during the forecast period owing to increasing prevalence of cardiovascular diseases, diabetes, and cancer across the region, rapid adoption of advanced technology, and growing inclination towards pain-free drug administration. In addition, presence of leading companies, rising geriatric population, and increasing adoption of homecare settings are expected to drive North America market growth going ahead.
Major Companies in the Market Include:
- Medtronic
- Amgen
- Ypsomed
- Insulet Corporation
- West Pharmaceutical Services
- Becton, Dickinson And Company
- Enable Injections
- United Therapeutics Corporation
- F. Hoffmann-La Roche AG
- Johnson & Johnson
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Scope of Wearable Injectors Research
|
Report Details |
Outcome |
|
Market size in 2020 |
USD 6.75 Billion |
|
CAGR (2021–2028) |
11.2% |
|
Revenue forecast in 2028 |
USD 15.66 Billion |
|
Base year for estimation |
2020 |
|
Historical data |
2017–2019 |
|
Forecast period |
2021–2028 |
|
Quantitative units |
Revenue in USD Billion, Revenue share (%), and CAGR (%) |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments covered |
Technology, Type, Application, End-use, and Region |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, China, India, Japan, South Korea, Brazil, Saudi Arabia, UAE, South Africa |
|
Key companies profiled |
Medtronic, Amgen, Ypsomed, Insulet Corporation, West Pharmaceutical Services, Becton, Dickinson And Company, Enable Injections, United Therapeutics Corporation, F. Hoffmann-La Roche AG, and Johnson & Johnson |
|
Customization scope |
10 hours of free customization and expert consultation |
For the purpose of this report, Emergen Research has segmented the global wearable injectors market on the basis of technology, type, application, end-use, and region:
Technology Outlook (Revenue, USD Billion; 2018–2028)
- Motor-driven
- Expanding Battery
- Spring-based
- Rotary Pump
- Others
Type Outlook (Revenue, USD Billion; 2018–2028)
- Off-body
- On-body
Application Outlook (Revenue, USD Billion; 2018–2028)
- Cardiovascular Disease
- Diabetes
- Immuno-Oncology
- Infectious Diseases
- Others
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Clinics
- Hospitals
- Home Care Settings
- Others
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Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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