Wearable Injectors Market

Market Study on Wearable Injectors: Body-worn Patch Injectors Account for Bulk of Market Share

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

  • December-2021
  • PMRREP21463
  • 219 Pages
  • Healthcare
  • PPT, PDF, WORD, EXCEL

Wearable Injectors Market Snapshot

The global wearable injectors market reached a valuation of US$ 5 Bn in 2020, according to Persistence Market Research. As per detailed industry analysis, wearable injector sales are expected to reach US$ 17.6 Bn by 2031, reflecting a CAGR of 11.8% through 2031.

Wearable injectors market share is approximately 1% of the global injectable drug delivery market, which is currently valued at close to US$ 450 Bn.

Wearable Injectors Market Size (2020)

US$ 5 Bn

Projected Market Value (2031)

USD 17.6 Bn

Global Market Growth Rate (2021-2031)

11.8% CAGR

Market Share of Top 5 Countries

63.7%

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Companies

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

Wearable Injectors Demand Analysis (2016-2020) Compared to Market Outlook (2021-2031)

According to Persistence Market Research, sales of wearable injectors increased at a CAGR of 11.1% from 2016 to 2020.

With growing focus on the use of Biologics and Monoclonal Antibodies (mAbs) for the treatment of diseases such as rheumatoid arthritis, cardiovascular disease, and cancer, use of wearable injector systems has also increased. This is because these drugs need to be administered via the parenteral route, i.e., intravenous, subcutaneous, or intramuscular delivery.

The number of biologic drugs in development is increasing significantly because of their wide application and use in the pharmaceutical industry. Additionally, large-volume wearable injectors have the ability to deliver drugs stress-free, comfortably, and conveniently at home or at work.

Persistence Market Research expects the global wearable injectors market to surge at a CAGR of 11.8% through 2031.

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What’s Driving Sales of Wearable Injectors?

Wearable injectors are drug injectors that are responsible for the delivery of drugs. These wearable injectors evolved from traditional syringes to presently available on-body injectors and body worn patch injectors. The single-step administration system of these injectors, intended to make treatment simpler, has increased their preference amongst healthcare personals. These devices facilitate the control of disease in patients and deliver drugs into the body in a faster and safer way through subcutaneous tissues.

Due to technological advancements, multiple daily injections can be replaced with variable injectors. These injectors help administer drugs into the body using a needle that provides automated insertion and retraction according to the body’s need.

Patch injectors, on the other hand, are hands-free, easy, and simple-to-wear that deliver high & low volume and viscous drugs. Use of such injectors also decreases the chances of infection because the needles are not exposed. The device helps in patient self-care and helps with the required delivery of drugs.

Furthermore, during the first wave and second waves of COVID-19, there was continuous rise in the number of COVID patients admitted to hospitals for medical treatment, which created shortage of healthcare workers globally. This shortage, thus, positively impacted usage of wearable injector devices. This increasing demand for wearable injectors is also expected over the coming years because of them being self-administered injections.

According to 2021 data by WHO, more than 18 million healthcare workers are needed by 2030. Demand for healthcare workers is rising mostly in developing or low-income countries due to increasing geriatric population and rising chronic diseases cases. This issue can be overcome through the use of wearable injections by patients.

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Will Increasing Prevalence of Cardiovascular Diseases Drive Demand for Wearable Injectors?

Use of wearable injection systems has seen an incremental rise with increasing cases of chronic diseases such as cardiovascular diseases, autoimmune diseases, diabetes, etc. Invention of wearable injector devices and technologies have influenced patients’ need for a reliable, yet easy-to-use self-administered treatment.

Technological advancements such as wearable injectors have the potential to deliver large and the right amount of liquid drugs subcutaneously in a non-clinical setting with their pre-programmable delivery feature. This makes it easier for patients to administer drugs themselves without the need of visiting a clinic.

Prevalence of cardiovascular disease is increasing rapidly since the last few years due to change in lifestyles and unhealthy eating habits. Hence, launch of new products such as wearable medical injectors can help in the treatment of cardiovascular diseases with ease and less pain. This expected to fuel demand for drug delivery systems for years to come.

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Country-wise Insights

Will the U.S. Remain a Key Market for Wearable Injectors?

In the North American region, the U.S. is expected to be a key market for wearable injectors, holding a market share of over 90.3%.

Demand for wearable injectors is increasing in the U.S due to technological advancements, which lead to the development of new products for advanced drug delivery systems, and the presence of advanced healthcare infrastructure.

Which Country is Leading the European Market for Wearable Injectors?

In Europe, the U.K. is the most lucrative market for wearable injectors with a share of nearly 25.8%. This is primarily due to increasing prevalence of chronic diseases, rising focus on biosimilar innovation, and favorable reimbursement scenario for various treatment options.

For instance, according to BMC Public Health, 24.4% of the population in the U.K. suffered from at least one chronic disease in 2019. Thus, demand for wearable injectors is expected to increase over the coming years.

Category-wise Insights

Why is Demand for Body-worn Patch Injectors Rising Rapidly?

Body-worn patch injectors hold a significantly larger market share compared to off body worn injectors. Body-worn patch injector systems are user-friendly and enable patients to accurately deliver the required drug subcutaneously.

Furthermore, technological advancements and increasing adoption rates are also driving demand for body-worn patch injectors across regions.

Why Do Retail Pharmacies Account for the Highest Market Share for Distribution of Wearable Injectors?

Retail pharmacies and hospitals together hold 1/3 of the overall market. This is primarily due to the large number of people admitted in hospitals seeking treatment for chronic diseases and easy availability of wearable injectors at retail pharmacies.

Sales of wearable injectors through hospitals and retail pharmacies are expected to increase even further over the forecast period as well.

Impact of COVID-19 Crisis on Wearable Injectors Industry

The COVID-19 pandemic had a positive impact on wearable injector shipments. Medical priorities shifted in response to COVID-19, with therapy for COVID-19 patients taking precedence. The wearable injectors industry benefitted as a result of this.

Wearable injectors represented a meaningful platform to bridge the gap between auto injectors and in-clinic care. Wearable injectors were also predicted to bridge major gaps in the healthcare system and related health services.

As patients with chronic pulmonary, cardiovascular, and neurological disorders began to manage the long-term repercussions of the disease, increase in chronic ailments resulting from COVID-19 morbidity fueled adoption of wearable injectors.

To protect themselves from COVID-19 exposure at hospitals, patients with chronic diseases requested for a transition from clinic to at-home drug delivery, thereby positively impacting demand for wearable medical devices.

Competitive Landscape

Key companies manufacturing wearable injectors have followed and are undertaking certain strategic steps such as acquisitions, collaborations, gaining FDA approvals, and launching of new products to stay relevant in the competition.

Following are some of the key developments and strategic steps taken prominent wearable injector suppliers:

  • In December 2016, SMC Ltd., acquired Oval Medical Technologies that develops auto-injectors. This acquisition helped SMC Ltd. enhance its injectors segment.
  • In September 2016, Medtronic received FDA approval for the MiniMed® 670G system, which is the most advanced insulin pump and sensor system designed to help people with type 1 diabetes in managing their glucose levels.
  • In January 2016, West Pharmaceutical Services, Inc. collaborated with Noble® for providing multisensory-based educational and training programs for self-injection systems.

Wearable Injectors Industry Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Million for Value

Key Countries Covered

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

Key Market Segments Covered

  • Product
  • Distribution Channel
  • Region

Key Companies Profiled

  • Becton, and Dickinson And Company
  • Medtronic plc
  • West Pharmaceutical Services
  • Amgen Inc.
  • Ypsomed
  • Insulet Corporation
  • Valeritas Holdings

Report Coverage

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

Customization & Pricing

Available upon Request

Key Segments Covered in Wearable Injectors Industry Research

Wearable Injectors Market by Product

  • Body-worn Patch Injectors
  • Off-body Worn Injectors

Wearable Injectors Market by Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • e-Commerce

Wearable Injectors Market by Region

  • North America Wearable Injectors Market
  • Latin America Wearable Injectors Market
  • Europe Wearable Injectors Market
  • East Asia Wearable Injectors Market
  • South Asia Wearable Injectors Market
  • Oceania Wearable Injectors Market
  • Middle East and Africa (MEA) Wearable Injectors Market

Media Release

- FAQs -

The global market for wearable injectors was worth US$ 5 Bn in 2020.

Wearable injector sales are expected to surge at a CAGR of around 11.8% over the forecast period (2021-2031).

The market is projected to reflect high demand because drugs can be self-administered through wearable injectors in homecare settings and reduces visits to the hospitals.

Demand for wearable injectors increase at 11.1% CAGR from 2016 to 2020.

The North America wearable injectors market dominates and is slated to surge at 10.7% CAGR through 2031.

Sales of wearable injectors in India are expected to balloon at a CAGR of 15.8% over the decade.

Demand for wearable injectors in the European market is expected to register 13.2% CAGR during the forecast period.

The Japan market for wearable injectors is expected to hold a market share of approximately 6%.

The U.S., Japan, China, U.K., and Germany are the top 5 countries driving most demand for wearable injectors.

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