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Wearable Injectors Market

Rising Technological Advancements in Wearable Sensing Technologies, as Well as the Development of Targeted Drug Delivery Systems, will Boost the Growth of the Overall Wearable Injectables Market

Wearable Injectors Market Segmented By Body-worn patch injectors, Off-body worn injectors Product in Hospital Pharmacies, Retail Pharmacies, Online sales

Wearable Injectors Market Outlook (2023-2033)

The global revenue from the wearable injectors market stands at US$ 6.5 Bn in 2022, with the global market expected to grow at a CAGR of 10.2% to reach a valuation of approximately US$ 19.4 Bn by the end of 2033.

Attributes Key Insights

Market Size (2022)

US$ 6.5 Bn

Projected Market Value (2033)

US$ 19.4 Bn

Global Market Growth Rate (2023-2033)

10.2% CAGR

Market Share of Top 4 Countries

52.7%

As assessed by Persistence Market Research, body-worn patch injector products hold a market share of around 85.1% in 2022. Overall, wearable injectors market sales account for approximately 8.3% revenue share in the global drug delivery devices market, which was valued at around US$ 78.0 Bn in 2022.

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Sales Analysis of Market from 2013 to 2022 Vs Market Outlook for 2023 to 2033

The global market recorded a historic CAGR of 12.6% in the last 9 years from 2013 to 2022.

Conventionally, drugs are injected into the patient using a syringe and hypodermic needle. Despite being a natural alternative, the parenteral route presents patients with a number of risks, including excruciating pain, thrombus formation at the site of administration, and hypersensitivity. The "transdermal drug delivery system" is an innovative drug delivery system that facilitates in drug delivery through the layers of skin.

It was developed by researchers to address the drawbacks of oral and parenteral routes of administration. Drugs are delivered through the skin's layers using microneedles, which are small needle-like devices. Since they do not involve any physical contact with the skin, they cause either very little or no pain when administered. Both large and small molecules can be successfully delivered to the subjects who require them, using microneedles.

The introduction of wearable human interface devices for a variety of applications, spanning healthcare monitoring, intelligent robotics, and wearable therapies, has become conceivable because of developments in wearable, highly sensitive, and multifunctional strain sensors.

These sensors typically feature 2 components: a substrate that can stretch, and a component that responds to stimuli. Multifunctional wearable devices enable new technological possibilities in fields including human-machine interaction, health monitoring, and drug administration.

This development is similar to the evolution of mobile devices, where ever-increasing capabilities are being merged into single devices. For instance, it may be possible to create a single device that can monitor the body's response while also delivering medications.

Despite the evident promise of such versatile wearable devices, additional innovations in the manufacture and cost-effectiveness are necessary for their commercialization.

The potential benefits of transdermal drug delivery include painless, convenient, and prolonged controlled release with reduced adverse effects. Additionally, drug nanocarriers that can penetrate the skin and target specific skin layers have been developed as a result of advancements in nanotechnology. Drugs can be infused into polymers, and particularly hydrogels, for transdermal drug delivery. Employing external stimuli, including pressure straining, can disintegrate hydrogels, expedite the dissolution of the hydrogel, and thus modify the rate at which the nanocarrier releases.

On-demand health monitoring can be achieved through such developments. Thus, owed to the above-mentioned factors, the global market is likely to show high growth over the coming years at a CAGR of 10.2% and reach a global market size of US$ 19.4 Bn by 2033.

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How Can the Global Market Grow?

Development of Novel Drug Delivery Devices

Drug administration and continuous monitoring are made possible by innovative medical devices called biosensor-integrated drug delivery systems. In particular for chronic diseases including diabetes mellitus, cancer, and cardiovascular diseases as well as advancements in regenerative medicine, the integration of smart polymer, bioMEMS, and electrochemical sensors has been intensively researched for these systems.

In its most basic form, the technology uses sensors developed for the continuous monitoring of biological components, accompanied by release of the drug in response to particular signals. High sensitivity and quick medication release are two benefits.

Micro-electromechanical systems (MEMS) are devices containing both mechanical and electrical parts. BioMEMS, also known as MEMS developed specifically for biomedical purposes, are receiving a lot of attention in the field of biomedical engineering for biomolecular analysis and sensing.

The benefits of BioMEMS are numerous, including their rapid response times, excellent scalability, and high sensitivity. Mechanical, chemical, or biologic signals are transformed into electrical impulses in bioMEMS, which then induce the release of the medication. The medication is released from BioMEMS implants into the body in response to sensor feedback.

Introduction of novel drug delivery systems, as well as the growing assessment on the commercialization of novel sensor based technologies, are factors expected to propel the growth of the overall market throughout the forecast period.

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Can the Wearable Injectors Market Growth Be Affected in Any Way?

Presence of Alternatives, Restricted Product Adoption, and Device Limitations

For the convenience of patients, various drug delivery systems are being developed because of advances in technology. Contrary to auto-injectors and other injectors like pens, wearable injectable drugs are much more costly. In the case of administering insulin, there are numerous alternatives to less expensive delivery methods including insulin pens and standard prefilled syringes.

The substitutes also come with a sizeable reimbursement. Thus, the threat of wearable injector alternatives is significant and could limit market expansion throughout the projected period.

The public health system is still not actively promoting the use of wearable injectable devices. This is because the device is expensive, there are limited reimbursement options, and very few patients are aware of the technology. The device's limited availability is an additional complication.

For instance, evaluating insulin delivery trends for analysis is believed to be advantageous, but patients find it difficult to do so due to the complex user interface. According to the current situation, such limitations will negatively impact the market for integrated drug delivery systems as a whole.

In addition, it costs money and time to modify a drug into a formulation that is compatible with wearable injectors. It may be simple to use a wearable injector to dispense formulations that are already sold in prefilled syringes. However, manually reconstituting lyophilized formulations with a syringe before using them in wearable injectors may be required. Additionally, there is a chance that the dosage will be administered improperly as a result of device malfunction and user error during reconstitution.

These factors thus restrain the growth of the overall market during the forecast period.

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Country-wise Insights

Why is the U.S. Market Booming?

“Increasing Disease Burden and Presence of Established Market Players”

The U.S. is set to account for around 34.1% market share in the global market in 2023. Due to an advanced healthcare system and the increased prevalence of chronic diseases and lifestyle-related illnesses, wearable injector use is on the rise in the United States. The local presence of significant market participants in the U.S., such as Johnson & Johnson Services, Inc. and Becton, Dickinson and Company, has also increased demand in the nation.

Further boosting the segment to represent a larger proportion within the overall market will be the rising disposable incomes in the region and reimbursements for therapeutic drug delivery.

Will Germany Be a Lucrative Market for Wearable Injectors?

“High Burden of Cardiovascular Diseases Propelling Product Adoption”

Germany is set to hold around 7.1% market share of the global market in 2023. Because of the fast-paced lifestyle, cardiovascular diseases (CVDs) constitute a major cause of mortality worldwide. According to the European Society of Cardiology, there were 2.1 million more deaths in Europe in 2017 as a result of cardiovascular disease (CVDs) among women than among men.

Although there are many commercially available biologics for treatment, the conventional drug delivery systems seldom deliver precise dosage. This increases the effectiveness of wearable injector drug delivery systems by delivering the drug to the affected locations of the cardiovascular system with targeted drug administration and extended drug release.

Wearable injector adoption is therefore anticipated to rise, which will fuel market expansion within the country.

How is Japan Emerging as a Prominent Market?

“Emergence of Reimbursement Programs”

Japan is set to hold a market share of about 7.4% of the global market in 2023. The medical insurance system in Japan has included a new classification called "C150." It expands the pool of individuals with diabetes who are qualified to receive financial assistance in Japan for the Dexcom G6 continuous glucose monitor (CGM). All individuals who administer insulin by self-injection at least once per day fall under Japan's new C150 category.

Regardless of the type of diabetes they have, everyone who qualifies is covered. The Japanese medical insurance programme no longer requires hospitals to apply for eligibility. All hospitals are eligible to earn reimbursement under the new category.

With the emergence of reimbursements for such indications in the country, the adoption of wearable sensors is expected to rise, thus indicating growth within the overall wearable injectors market, over the forecast period.

Category-wise Insights

Which Product is Driving Demand within the Global Market?

“Successful Subcutaneous Drug Delivery with Minimal Complexities”

Body-worn patch injectors held a market share of around 85.1% in 2022. High-volume pharmaceutical and biological therapies are administered subcutaneously using body-worn patch injectors. The device is directly attached to the patient's skin using an adhesive. This adhesive surface can extend to the size of a mobile phone's face depending on the dimension of the device.

The complexity of administering subcutaneous injections in non-clinical settings with increasing dosage volumes and viscosities can be successfully overcome with body-worn wearable injectors, thus propelling the overall segment value over the forecast period.

Which Distribution Channel Provides the Global Market With a Large Share?

“Greater Product Accessibility and Usage”

Retail pharmacies held a share of about 34.8% in 2022. A growing number of patients are adopting ultra-large volumes wearable injectors for a range of drug deliveries, which accounts for the high market share maintained by the retail pharmacies segment.

Various wearable injectors are available for purchase and use in retail pharmacies and drug stores, making them easy to obtain and utilize.

With increased product accessibility, as well as the subsequent rise in product adoption, the retail pharmacies hold a larger share within the global market.

Competition Landscape

Manufacturers are concentrating on developing wearable injectors to minimize hospital visits with monitoring systems, so physicians can monitor their records, in an attempt of expanding their respective market shares.

In order to reduce their production costs and remain competitive on the market with reduced prices, the businesses are focusing on outsourcing the production of wearable injector products.

Companies are concentrating on working together with established research institutions and other producers to manufacture significantly superior products.

Some key instances of development within the market include:

  • In January 2022, Enable Injections, Inc. announced $215 million in Series C investment for its investigational wearable medicine delivery system platform called enFuse®. Magnetar Capital, along with fresh institutional investments from GCM Grosvenor, Squarepoint Capital, Woody Creek Capital Partners, and other investors, have been supporting this investment.
  • For people with type 1 diabetes aged six and older, the Omnipod 5 automated insulin delivery (AID) system from Insulet Corporation became completely accessible through U.S. retail pharmacy channels in August 2022.

Similarly, the team at Persistence Market Research has tracked recent developments related to companies in the wearable injectors market, which are available in the full report.

Wearable Injectors Market Report Scope

Attribute Details

Forecast Period

2023-2033

Historical Data Available for

2013-2022

Market Analysis

USD Million for Value

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Argentina
  • Mexico
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia
  • BENELUX
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Turkey
  • GCC
  • North Africa
  • South Africa

Key Market Segments Covered

  • Product
  • Distribution Channel
  • Region

Key Companies Covered

  • Medtronic Plc
  • Enable Injections LLC
  • Becton, Dickinson and Company
  • Insulet Corporation
  • Valeritas,Inc
  • Dexcom, Inc.
  • Ypsomed Group
  • West Pharmaceutical Services, Inc.
  • Bespak
  • Amgen Inc.

Report Coverage

  • Market Forecast
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Segments Covered in Global Wearable Injectors Market Research

Product:

  • Body-worn patch injector
  • Off-body worn injectors

Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies
  • E-commerce

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

- Companies Covered in This Report -

  • Medtronic PLC
  • Enable Injections LLC
  • Becton, Dickinson and Company
  • Insulet Corporation
  • Valeritas,Inc
  • Dexcom, Inc.
  • Ypsomed Group
  • West Pharmaceutical Services, Inc.
  • Bespak
  • Amgen Inc.

- Frequently Asked Questions -

The global market is currently valued at around US$ 6.5 Bn in 2022.

Sales of the market are set to witness growth at a CAGR of 10.2% and be valued at around US$ 19.4 Bn by 2033.

Demand for the global market increased at a 12.6% CAGR from 2013 to 2022.

The U.S., Germany, Japan, and Australia account for most demand within the market, currently holding around 52.7% market share.

The U.S. is set to account for around 34.1% share of the global market in 2023.

Europe is set to expand at a CAGR of 15.0% over the forecast duration.

Japan market is set to hold a share of about 7.4% in the global market in 2023.

The U.K. market is set to expand at 12.2% CAGR over the forecast period.

The China market is expected to grow at 15.1% CAGR during the forecast period.

The market in India is set to expand at a 14.2% CAGR over the forecast period.

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