The global wearable injectors market is projected to witness a CAGR of 20.67% during the forecast period to reach a total market size of US$17.271 billion by 2027, increasing from US$4.636 billion in 2020.
Wearable injectors are medical devices used for drug delivery systems. It is attached to the patient to deliver the drugs in a controlled manner. For the same reason, the devices are also called patch pumps or patch injectors. These devices are typically used for high-volume medications, drugs with high viscosities, and medicines that are required at regular intervals over a long period of time. The device reduces the need for multiple painful injections, making it convenient and user-friendly.
The growing prevalence of chronic diseases and changing lifestyles around the globe are considered the key drivers for the growth of the global wearable injector market. Wearable injectors are easy to use, especially when regular intervals of medication are required, thus providing a significant advantage over manual injections. The wearable injectors are user-friendly, making them easy to self-administer. They also do not interfere with the user's day-to-day life. Wearable injector devices improve dose accuracy and prevent needlestick injuries. Furthermore, rising healthcare costs and changes in technology have come up with innovative solutions that are not just efficient for managing the disease but also reduce the number of trips to hospitals and clinics to receive medical support for an injection.
Chronic or non-communicable diseases like cancer, hypertension, diabetes, cardiovascular diseases, etc. are the leading causes of death globally. According to the World Health Organisation (WHO), 71% of all deaths are due to non-communicable diseases (NCDs). Globally, 17.9 million people are diseased due to cardiovascular disease, annually. This is followed by cancer, respiratory diseases, and diabetes, accounting for 9.3 million, 4.1 million, and 1.5 million deaths, respectively. Wearable injectors play an important role in managing non-communicable diseases like cardiovascular disease, cancer, diabetes, and autoimmune disease, amongst other diseases. In particular, with the growing sedentary lifestyle. Wearable injectors are a highly used device to deliver drugs prescribed by the doctor at a regular interval. This eliminates the possibility of the drug being over-or under-dosed. Not only is it user-friendly, but it also saves time and money by reducing the number of trips to hospitals for medical assistance for injections.
With the increase in awareness of health, precautionary measures, and increased research and development in the medical industry, solutions like wearable injectors play an important role in assisting with various non-communicable diseases. As individuals are becoming more health-conscious, they are not just becoming aware of diseases but of all the alternative treatments and medical devices that are available for the management of such diseases. Several steps are taken by governments and international organizations to raise awareness amongst the citizens to ensure timely assistance is provided. Further, with technological advancement, the manufacturing cost has been reduced significantly. By using highly advanced automation, companies can reach economies of scale. Increasing profits and focusing more on R&D for better solutions are also priorities.
Though wearable injectors are life-saving devices, they come at a cost to the environment. These devices are made of plastic bodies and are manufactured for one-time use purposes. Also, mishandling of devices and improper disposal of them can be hazardous. Since these devices need proper disposal and not all countries have a good disposal system, this not only affects other humans but also the ecosystem as plastic takes a long time to decompose.
The coronavirus pandemic positively impacted the global wearable injector market. With the outbreak of the virus and restrictions, non-essential surgeries were avoided by both hospitals and clinics and patients in fear of the spread of the virus. Patients with cardiovascular disease, diabetes, and autoimmune disease, amongst others, were at high risk due to the coronavirus. Patients with high risk preferred to stay home in quarantine to avoid further risk. Furthermore, patients preferred to use self-administered devices like wearable injectors and Telehealthcare. This led to an increase in the demand for global wearable injectors.
|Market size value in 2020||US$4.636 billion|
|Market size value in 2027||US$17.271 billion|
|Growth Rate||CAGR of 20.67% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Technology, Application, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Medtronic, Amgen (Acquired by tenebio), Ypsomed, Insulet Corporation, West Pharmaceutical Services, Becton Dickinson And Company, Enable Injections, United Therapeutics Corporation, F. Hoffmann-La Roche AG, Johnson & Johnson|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the wearable injectors market size by 2027?
A1. The global wearable injectors market is projected to reach a total market size of US$17.271 billion in 2027.
Q2. What are the growth prospects for the wearable injectors market?
A2. The wearable injectors market is projected to witness a CAGR of 20.67% during the forecast period.
Q3. What is the size of the global wearable injectors market?
A3. Wearable Injectors Market was valued at US$4.636 billion in 2019.
Q4. What factors are anticipated to drive the wearable injectors market growth?
A4. The growing prevalence of chronic diseases and change in lifestyle around the globe is considered as the key driver for the growth of the global wearable injectors market.
Q5. How is the global wearable injectors market segmented?
A5. The wearable injectors market has been segmented by type, technology, application, end-user, and geography.
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Function
4.4. Function Value Chain Analysis
5. GLOBAL WEARABLE INJECTORS MARKET, BY TYPE
5.2. On body
5.3. Off body
6. GLOBAL WEARABLE INJECTORS MARKET, BY TECHNOLOGY
6.3. Expanding Battery
6.5. Rotary Pump
7. GLOBAL WEARABLE INJECTORS MARKET, BY END-USER
7.2. Hospitals and Clinics
7.3. Ambulatory Surgery Centres
7.4. Home Care Centres
8. GLOBAL WEARABLE INJECTORS MARKET, BY APPLICATION
8.4. cardiovascular Disease
8.5. Autoimmune Disease
9. GLOBAL WEARABLE INJECTORS MARKET, BY GEOGRAPHY
9.2. North America
9.3. South America
9.4.1. The United Kingdom
9.5. Middle East and Africa
9.5.1. Saudi Arabia
9.6. Asia Pacific
9.6.4. South Korea
10. COMPETITIVE INTELLIGENCE
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrative
10.3. Mergers, Acquisition, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. COMPANY PROFILES
11.1. Medtronic Plc.
11.2. Amgen (Acquired by tenebio)
11.4. Insulet Corporation
11.5. West Pharmaceutical Services Inc.
11.6. Becton, Dickinson, and Company
11.7. Enable Injections
11.8. United Therapeutics Corporation
11.9. F. Hoffmann-La Roche AG
11.10. Johnson & Johnson
Amgen (Acquired by tenebio)
West Pharmaceutical Services
Becton Dickinson And Company
United Therapeutics Corporation
F. Hoffmann-La Roche AG
Johnson & Johnson
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