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Global Wearable Injectors Market to Reach US$ 14.4 Billion by 2027, Spurred by the Increasing Prevalence of Chronic Medical Illnesses

Published on Sep 30, 2022

The latest report by IMARC Group, titled “Wearable Injectors Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global wearable injectors market size reached US$ 5.7 Billion in 2021. Wearable injectors (WIs) or patch pumps are drug delivery devices utilized for the single-step administration of medicines for longer durations. They automatically deliver preset doses to patients at optimal times. They are temporarily attached to the skin to deliver viscous drugs in large volumes faster and safely through the subcutaneous tissues in the body. They comprise a cannula for substance delivery to tissues, a reservoir to store medicine, and a drive system to provide the appropriate drug volume. In addition, these devices are user-friendly, disposable, and cause minimal discomfort and pain compared to traditionally used syringes and vials. As a result, wearable injectors are extensively used for the treatment of diabetes, rheumatoid arthritis, cancer, and cardiovascular diseases.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Wearable Injectors Market Trends:

The market is primarily driven by the increasing prevalence of chronic medical illnesses such as neurological, oncological, and autoimmune disorders. In addition, the rising geriatric population, which is more susceptible to such ailments, and the escalating demand for minimally invasive (MI) treatment alternatives among the patients represent other major growth-inducing factors. Moreover, the sudden outbreak of the coronavirus disease (COVID-19) pandemic prompted the entire healthcare system to switch to home-based therapies to stop the spread of the sickness. This, coupled with the growing popularity of at-home and self-administrable injectors to effectively manage disorders with the minutest risks of inaccurate dosage and needle stick injuries, is providing a positive thrust to the market growth. Besides this, various product innovations, such as the incorporation of wireless connectivity, passive warning systems, and Bluetooth technologies with the injectors, are anticipated to propel the market growth. These technologies promote convenient monitoring of the patient through a smartphone application and offer timely reminders for dosages. Furthermore, extensive research and development (R&D) activities, along with significant improvements in the healthcare infrastructure, are creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 14.4 Billion by 2027, exhibiting a CAGR of 16.75% during the forecast period (2022-2027).

Market Summary:

  • Based on the type, the market has been bifurcated into on-body and off-body.
  • On the basis of technology, the market has been classified into spring-based, motor-driven, rotary pump, expanding battery, and others.
  • Based on the application, the market has been segmented into oncology, infectious diseases, cardiovascular diseases, autoimmune diseases, and others.
  • On the basis of the end use, the market has been divided into hospitals and clinics, home care, and others.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the industry has also been examined in the report, with some of the key players being Becton Dickinson and Company, CeQur SA, Debiotech SA, Dexcom Inc., Enable Injections Inc., Gerresheimer AG, Insulet Corporation, Tandem Diabetes Care Inc., West Pharmaceutical Services Inc. and Ypsomed AG.
     

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