Wearable injectors are also called patch pumps or patch injectors that are responsible for the delivery of drugs. These wearable injectors have been evolved from the traditional syringes, and are designed to make the treatment easier with its single-step delivery mechanism. The device helps to control the disease in the patients and delivers the drugs faster and safer manner in the body through subcutaneous tissues. The wearable injectors have open the door for the patients suffering from cancer, cardiovascular diseases, diabetes and rheumatoid arthritis. The wearable injectors deliver large-volume and viscous drugs, which were previously difficult by vials and syringes. Moreover, wearable injectors are user friendly and they reduce the need of multiple painful injections. The wearable injector offers convenience to the patients by reducing the hospital visits.
The conventional insulin pumps or CGM are large in size and thus, people have social and psychological stigma towards opting for such devices, while wearable injectors are compact and small and adhere to the skin of the patient. The wearable injector does not require a doctor or nurse to deliver the drug and also to monitor the medication of the patient. The chances of error with wearable injectors are almost negligible during delivery of a particular dosage.
On the basis of product type, the wearable injector market is segmented into body-worn patch injectors and off body-worn injectors. The off body-worn injectors are applied to the body with the help of belts while the body worn patch injectors come with an adhesive which sticks to the body. The needle in the device is retractable. The device can be easily disposed of once the required dosage is subcutaneously delivered to the patient. The body-worn patch injector segment is expected to grow at a significant CAGR during the forecast period. The wearable injector provides automation for drug delivery, for instance wearable insulin pumps such as the MiniMed by Medtronic injects the insulin into the body at basal or bolus rates. Throughout the day the machine injects small amount of insulin in the body.
The wearable injector has a sensor, as the level of insulin goes down or increases the sensor gives a warning signal. On the basis of distribution channels, the global wearable injector market is segmented into hospitals pharmacies, retail pharmacies and online sales. Increasing demand for minimal invasive treatments is expected to bolster the overall growth of the wearable injector market globally.
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- West Pharmaceutical Services, Inc.
- Ypsomed Group
- Dexcom, Inc.
- Insulet Corporation
- Becton, Dickinson and Company
- Enable Injections LLC
- Amgen Inc.
- Medtronic Plc,
Market Value Forecast
The global wearable injector market was valued at US$ 3,329.5 Mn in 2017 and is expected to expand at a CAGR of 13.7% over the forecast period (2018–2026).
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The growth of the global wearable injector market is mainly driven by high prevalence of diseases such as diabetes, cancer, cardiovascular diseases and advancement of technology with tracking devices, which can monitor the health of the patient. Furthermore, increasing demand for less or painless devices is also expected to surge the growth of the market for wearable injectors.
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The global wearable injector market has been segmented on the basis of regions into North America, Latin America, Europe, and Asia Pacific excluding Japan (APEJ), Japan and Middle East & Africa (MEA). In terms of revenue, North America is projected to be the dominant regional market for wearable injectors throughout the forecast period as manufacturers in the region are developing products that have the potential to treat diseases, such as diabetes, beforehand with transmitters, which transmit the drugs during the high or low levels of insulin in the body, and sensors, which alerts the patients about it.
Latin America and APEC are expected to witness significant growth during the forecast period as numerous research and development activities are been carried out for rapid drug delivery by wearable injector devices. U.S. dominates in North America market due to a large patient pool suffering from diseases such as diabetes and cancer. The U.S., Japan, Germany, the U.K. and China contribute a major share in the global wearable injector market.
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Examples of some of the key players operating in the global wearable injector market are Medtronic Plc, West Pharmaceutical Services, Becton, and Dickinson and Company, Ypsomed, Valeritas, Inc, Dexcom, Inc., Amgen Inc., Enable Injections, Consort Medical and Insulet Corporation
A large number of players operating in the wearable injector market are focused on entering into collaborations and partnerships with local distributors and retailers in order to enhance their market presence globally. Moreover, it also enables companies to increase product visibility across different regions.