Market Overview:

According to a new report by IMIR Market Research on Global Wearable Injectors Market size was estimated at USD 10.92 billion in 2023 and is expected to grow USD 12.96 billion in 2024 and USD 50.97 billion in 2032 forecast period with compound annual growth rate (CAGR) of 18.67%.

Healthcare infrastructure, with its strong implementation and a growing number of lifestyle diseases, constitute some of the main reasons for the market growth. On the other hand, there is an estimation that weak sales in under-developing countries and a high price of wearable injectors are to slow the growth of the market in the next few years. More than other hazards related with the healthcare systems, sharp needle stick injuries entail the most risks to the security of healthcare workers. Statistically, a WHO-published report in 2021 indicates that probably about 1 of an approximately 2 million nurses and doctors who are engaged in the work of the 35 million health care personnel worldwide are exposed to on-job injuries annually. HIV, Hepatitis B and C are the most prominent pathogens associated with health hazards excluding needlestick injury.

Besides, the data from CDC & EU-OSHA showcase that 3,85,000 medical staff and 1,000,000 health workers experience needlestick injuries in U.S. & Europe i.e. In addition, WHO (World Health Organization) states that there are 16000 of HCV, 66000 of HBV and 1000 cases of the HIV every year among heath care workers (HCWs).

The instrumental technology has made it such that the patient will not at any time be made to come in contact with the needle. Having attached the injector, I'm about to press the button which will inject the needle into the skin. The release of the medicine is followed by tactile, audible, and visual alerts that serve as an alert to the patient, and then the needle automatically retracts and locks out, facilitating the patient disposing of the device in a safe and easy way. With the usage of the wearable injectors, there can be no blood borne diseases infection since some traditional system of intravenous injectable and parenteral administration is eliminated.

The use of injectors considered as a drug delivery method reduces the difficulties incurring usually from infusion and injection procedures, i.e., preparation of drugs, insertion of needles, pill cover and needles disposal, all of which are revision points of infection. Unfortunately caring in countries at different stages of development is a difficult problem with health care costs skyrocketing. Governments and nations try their level best to invest in primary and secondary level of health care with a focus on quality and cost effectiveness. Patients may self-inject the drug subcutaneously and at home by wearable injection systems that they wear. It is projected to reduce the number of the visits that she would have at the hospitals or at other healthcare facilities and that will help in the reduction of the healthcare expenses.

Market Dynamics:

Market Drivers:

High Prevalence of Diabetes

• This issue is acute, as it is predicted that by the end of 2019 one more person will be diagnosed with diabetes globally, there is an urgent demand for alternative medicine methods. That their exact measurement and user-friendly features make them durable substitutes for traditional syringes eases the burden of insulin injection administration, hence leading to improved compliance. The song of wearable injectors that allow patients do more than their usual routine of monitoring their diabetes—a sound that reflects independence and empowerment. It's the song that their souls believe in. Adults may experience anguish and anxiety while needles are used for conventional injections. The use of wearable injectors replaces the harsh sting with a gentle vibration, thus eliminating discomfort to the patient and allows them to concentrate on their health issues without worrying over the technical aspects of the procedure. Wearable injectors can be multifunctional - as guys for pills dispensing, and for diabetes control, and for heart attacks and many other life-threatening health concerns. Also, the devices can be used for transferring important information without a special action of a patient who can just carry the injector, and be sure he is in safety. So, this is anticipated to hike the market alike.

Increasing Demand for Advanced Injector Technology

• Now that an advanced injecting technology has been invented, the patient should never have to be in contact with the needle in modern medicine, which gives an impulse regarding the market share growth. In this exercise, one should ensure that the syringe is attached (to). Then, pressing the button will allow the needle to be pushed through. The product is designed in such a way that the patient remains in awareness with the cautions released along with the drug and also it has an automatic retracting and locking out the needle ensuring safe and proper disposal of the device. Local injection by wearable injectors is way safer than intravenous injections and the advantaged parenteral administration since we wouldn’t be having needle stick injuries. Accordingly, this one motive is tantamount to proliferation of market growth.

Market Trends:

Oncology Segment is Expected to Hold Significant Market Share Over the Forecast Period.

• Adoption of the new injectors is extending to the healthcare industry exponentially because patient groups have appreciated that they, first of all, help to slow cancer progression and pain. Healthcare Global Enterprises Limited (HCG) revealed through their brochure of October 2022 that the cancer cases in India are growing in number and will surpass the estimated number of 2 million, thus the ratio of cancer patients in India is supposed to raise. Along with the increase in cancers, it is likely that there will be rising demand for the new technology-based devices such as fast injection devices in the future.
• An study which was published in the Chinese Medical Journal in March 2022, it estimated that the number of new cancer cases was about 4.82 million and 2.37 million for China and the United States in 2022, respectively. Besides other findings, it specified that cancer was responsible for 3,210,000 deaths and 640,000 deaths in China and the United States respectively. The creation of a wide population pool of affected individuals will mark the extension of market growth throughout the forecast period.
• This product launch sector for wearable cancer injection devices is another important factor that fuels the market trend for this segment. For instance, in August 2021, BD (Becton, Dickinson, and Company) results from a 52-subject human clinical trial with the BD Libertas Wearable Injector were announced. The subcutaneous drug delivery system, currently in the final phases of development, was designed to be ready to use and to deliver drugs such as biologics with viscosities up to 50 cP in 2-5 mL and 5-10 mL configurations. It is applicable to both cancer patients and other chronic or long-term conditions.
• Accordingly, as the number of cancer incidences rises and new products are launched, we anticipate that the oncology segment will grow at a steady rate through the period of this forecast.

Market Restraining Factors:

Oral insulin as alternative method of drug delivery

• Oral insulin that is tasteless and easy to administer can be a means to convenient treatment, that would not interfere with our way of life. The administration of diabetes, missing dosages can result to arrhythmias. List For the same reason, oral insulin may be easier to take, and as a result, it can potentially augment the treatment effectiveness and positively contribute to long-term health. Individuals experiencing injection-site pain and needle anxiety are two prominent discordant notes. Oral insulin is anticipated to give the notion of a gentler and more soothing melody, enriching both the healing process and the general health of the people. Researchers are creating different methods of protection for insulin against the extreme conditions of the stomach and the intestines exposing it to digestion in the bloodstream and getting absorbed easily. This opera of technology features enteric coatings as protagonists and nanoparticles and microspheres as the antagonists. The main goal of this research is make the gut lining more permeable to stop the insulin to leave the bloodstream.

Key Industry Developments:

• In February 2023, Insulet Corporation acquired the assets of Automated Glucose Control LLC (AGC), a company focused on developing and commercializing best-in-class automated insulin delivery technology. The company was involved in the development of Omnipod (Insulet’s star product)
• In January 2023, Tandem acquired infusion set developer, Capillary Biomedical.
• In June 2022, AbbVie received US FDA approval for SKYRIZI (risankizumab-rzaa) as the first and only specific interleukin-23 (IL-23) inhibitor for the treatment of adults with moderately to severely active Crohn's disease (CD). It can be self-administered by Subcutaneous Injection (SC) with an On-Body Injector (OBI).
• In February 2022, Enable Injections raised a USD 215 million round to fund work on the subcutaneous drug delivery system enFuse. The device consists of a wearable delivery disc and a system for transferring the drug from its original vessel.

Report Coverage:

The report will cover the qualitative and quantitative data on the global Wearable Injectors Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

By Type (On-Body wearable injector, Off-Body wearable injector), By Technology (Spring based, Motor Driven, Rotary Pump, Expanding Battery, Other technologies), By Indication (Diabetes, Immuno-Oncology, Cardiovascular diseases, Chronic Pain, Other Indications), By End User (Hospitals and Clinics, Home care, Others end users)

Report Scope and Segmentations:

Wearable Injectors Market Players Analysis:

• Amgen Inc.
• Becton, Dickinson and Company
• Dexcom, Inc.
• Enable Injections
• Insulet Corporation
• Sensile Medical
• Tandem Diabetes Care, Inc.
• Ypsomed
• Buhler motor gmbh
• West Pharmaceutical Services, inc
• United Therapeutics (Steadymed Therapeutics)
• Stevanato Group
• Eitan Medical

Wearable Injectors Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2024-2032 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.

Wearable Injectors Market Segmentation Analysis:

By Type

• On-Body wearable injector
• Off-Body wearable injector

By Technology

• Spring based
• Motor Driven
• Rotary Pump
• Expanding Battery
• Other technologies

By Indication

• Diabetes
• Immuno-Oncology
• Cardiovascular diseases
• Chronic Pain
• Other Indications

By End User

• Hospitals and Clinics
• Home care settings
• Others end users

The report also helps in understanding Global Wearable Injectors Market dynamics, structure by analyzing the market segments, and project the Global Wearable Injectors Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Wearable Injectors Market make the report investor’s guide.

Segmentation Analysis:

The market scope is segmented because of by Type, by Technology, by Indication, by End User.

By Type

Based on the Type of the market is segmented into On-Body wearable injector, Off-Body wearable injector.

On the body wearable injectors had the highest share of the market revenues in 2023 due to the high demand as they are comfortable to wear up to the skin layer, they are water resistant and they are home based thus they cut down on the number of hospital visits and consequently healthcare costs, lifecycle management, flexible dosing and automatic warming of refrigerated drugs.

Medtronic (Ireland) introduced an infusion set in April 2021 that allows for the transport of insulin from the pump to the body for a duration of up to seven days.

Through this innovation, chances of usual risks - such as painful removal of devices or skin sensitivity/irritation when an adhesive device fits on - disappear. The growth is expected to be stimulated by turn outs of corporations which are in the business of making better off-body, injectors in the coming future.

By Technology

Based on the Technology of the market is segmented into Spring based, Motor Driven, Rotary Pump, Expanding Battery, Other technologies.

Although in 2023 a spring-based segment was the key one (35.9%) and will be so during the forecasting period, it stays to be seen, whether it will keep its popularity. Patients are the reason why the company reigns supreme because injection therapy using pen devices is so user friendly and can be administered subcutaneously by pressing a button (or more) on the device. The BD Libertas wearable injector is a safe, prefilled, and advanced drug delivery system developed by BD a U.S. based company specialized in medical technology solutions. It is in a spring-based power source configuration that ABOLISH batteries or heavy metals, there is exhaust. The rotatory wearable injector prognostic segment is its highest CAGR at 18.29% over the forecast period as a continuous increase in their demand has been noticed owing to ease of use.

By Indication

Based on the Indication of the market is segmented into Diabetes, Immuno-Oncology, Cardiovascular diseases, Chronic Pain, Other Indications.

Due to the rising incidence of cancer and patients' growing tendency to self-administer their medications, the oncology segment held the greatest market share of 29.5% in 2023 and is expected to continue to dominate the industry. Nowadays, there are a lot of medications on the market; however, in order to take them, a patient needs to visit a hospital frequently, which increases costs and causes discomfort. According to projections from the Canadian Cancer Society, 13% of Canadians will die from lung and bronchus cancer in 2022, making up 24% of all cancer-related fatalities in the country. Due to the growing trend of patients self-administering medication and the increased prevalence of cancer. It is projected that throughout the forecast period, the infectious illness segment would grow at the quickest CAGR of 18.35%. Approximately 20 million people worldwide lost their lives to infectious diseases every year, according to figures from the World Health Organisation (WHO). Injector demand rises because to the emergence of new infectious diseases such coronavirus, Ebola, salmonella, hepatitis A, and west nile virus, which either harm more individuals than previously or are more common. A primary driver of this global market's growth is the rising need for advanced medication delivery systems.

By End User

Based on the End User of the market is segmented into Hospitals and Clinics, Home care, Other end users.        

With a revenue share of over 42.0% in 2023, the home care category topped the market. Wearable injector demand is predicted to rise internationally as a result of a decrease in patient hospitalisation and an increase in the need for sophisticated drug delivery systems that require little technical knowledge. These factors are driving the growth of the market. The home care market is predicted to be driven by wearable injectors' low cost and consumers' growing desire to reduce their healthcare costs. Infusion therapy can cost anywhere from $200 to $1,000 or more, whereas wearable injectors typically cost between $20 and $30, according to a research. Due to the increased number of patients seeking treatment in hospitals and the growing prevalence of chronic illnesses, the hospital segment is predicted to grow quickly. Patients with cancer typically need to be admitted to the hospital on a regular basis in order to provide their drugs. Additionally growing are specialized clinics. Previously handled during clinic appointments, doctors can now track patient information and drug adherence with on-body injectors linked to cloud data. Physician-patient interactions become more frequent as a result of the integrated health paradigm. It is anticipated that the hospital segment will grow rapidly due to the rise in the number of patients seeking treatment in hospitals and the increasing frequency of chronic illnesses. In order to receive their medications, cancer patients usually need to be admitted to the hospital on a regular basis. Specialised clinics are expanding as well. Previously managed during clinic visits, on-body injectors connected to cloud data allow physicians to monitor patient data and medication compliance. The integrated health paradigm leads to an increase in the frequency of interactions between physicians and patients. It is anticipated that the hospital segment will grow rapidly due to the rise in the number of patients seeking treatment in hospitals and the increasing frequency of chronic illnesses. In order to receive their medications, cancer patients usually need to be admitted to the hospital on a regular basis. Specialised clinics are expanding as well. Previously managed during clinic visits, on-body injectors connected to cloud data allow physicians to monitor patient data and medication compliance. The integrated health paradigm leads to an increase in the frequency of interactions between physicians and patients. Hospitals are expected to grow rapidly due to the rise in patients seeking care there as well as the rising incidence of chronic illnesses. Typically, in order to receive their medications, cancer patients must be regularly admitted to the hospital. The number of specialty clinics is also rising. On-body injectors connected to cloud data enable physicians to monitor medication adherence and patient information, previously handled during clinic visits. Because of the integrated health concept, interactions between physicians and patients occur more frequently.

Regional Snapshots:

North America is Expected to Hold a Significant Share in the Market and is Expected to do the Same in the Forecast Period.

Chronic disease prevalence and high-end product introductions together with the latest technological breakthroughs fuel a market expansion in the region. Underscoring this number, according to the American Cancer Society's projections for 2022, the United States is forecasted to have an estimated 1.9 million new cancer cases and 609,360 cancer deaths. This means that the number of cancer victims and the mortality rate directly correlate with the demand for surgical procedures which further fuels the consumptions of drug delivery devices eventually bringing the market to higher up levels. The majority of cancers seen in the U.S. are breast cancer, lung cancer, prostate cancer, colon and rectum cancer, bladder cancer, and skin cancer.

The data of the American Diabetes Association published in February 2022 also revealed that diabetes was present in more than 29 million people, and the number was projected to reach 33 million by 2026. The high penetration of these illnesses is expected to determine the growing demand for wearable injectors within the market, in the region.

On the other hand, many different tactical moves adopted by the market players including product launches, cooperation, merger, and acquisitions to push the market in North America. For this example, in April 2021, Marlborough-based CeQur, the maker of insulin delivery devices which launched its wearable pumps (Simplicity), secured USD 115 million of funds.

Hence the cited aspects should drive the development of the wearable injectors industry in the North American region.

Wearable Injectors Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report:

The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.

The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 12 years data history and forecast.

The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.

Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.

The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Reasons to Purchase:

To gain insightful analyses of the Wearable Injectors market and have comprehensive understanding of the global market and its commercial landscape.

Assess the production processes, major issues, and solutions to mitigate the development risk.

To understand the most affecting driving and restraining forces in the market and its impact in the global market.

Learn about the Wearable Injectors market strategies that are being adopted by leading respective organizations.

To understand the future outlook and prospects for the Wearable Injectors market. Besides the standard structure reports, we also provide custom research according to specific requirements.

Research Scope of Wearable Injectors Market:

• Historic year: 2018- 2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

Wearable Injectors Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: