The global Wearable Injectors market size is expected to be worth around US$ 28.3 billion by 2030, according to a new report by Vision Research Reports.
The global Wearable Injectors market size was valued at US$ 14.9 billion in 2020 and is anticipated to grow at a CAGR of 27.2 % during forecast period 2021 to 2030.
Wearable injectors are drug administration devices designed to deliver drugs in large volumes subcutaneously. It is gaining popularity owing to its advantages such as reduced pain, ease of administration, and elimination of costly health facility visits.
Over the last decade, patient interest in the self-administration of injectable drug therapies has grown. The increasing prevalence of diabetes, chronic pain, and auto-immune diseases, such as rheumatoid arthritis, is increasing the use of wearable injectors. Their demand is increasing for the long-term management of asthma, chronic obstructive pulmonary disease (COPD), high cholesterol, and cancer. This is expected to create a lucrative opportunity for advanced device manufacturers to make devices used to administer larger dose volumes at the comfort of home.
The recent COVID-19 pandemic has brought remote care technologies, such as wearable injectors, into the spotlight. Demand for chronic disease products remains largely unaffected by the pandemic. Since wearable injectors serve with the option of delivering medications at home, its demand has also remained stable or rather grown for the short term. Patients suffering from chronic diseases are opting for these devices as it reduces the risk of exposure to COVID-19 by eliminating hospital visits. The pandemic has, however, affected some of the devices in the pipeline, affecting short-term investments. Leading players who continue to invest in innovation push projects forward despite COVID-19 are expected to put their companies in a stronger competitive position post-crisis.
The on-body segment dominated the market in 2020 with a share of 55.7% and is projected to maintain its lead over the forecast period. These are comfortable to wear on the skin, particularly the stomach. They are also water-resistant and convenient to use at home.
In 2020, Enable Injections formed a partnership with Sanofi for its enFuse drug delivery platform. enFuse is an on-body drug delivery platform that has a self-contained drug transfer system, which is compatible with standard syringes or vial container formats. Based on type, the market is segmented into on-body and off-body wearable injectors.
The off-body segment is expected to witness the fastest growth over the forecast period as these devices eliminate perils, such as painful removal of devices, adhesive fitting issues to the skin, and skin sensitivity or irritation. Moreover, the increasing investment in remote device development is another factor expected to introduce numerous new products for the off-body segment.
The spring-based segment dominated the market in 2020 with a share of 36.3% and is projected to maintain its lead over the forecast period. This is attributed to the rising demand for adhesive patches as these devices are user-friendly and enable patients to accurately deliver the drug subcutaneously by pressing one or more buttons on the device. Based on technology, the market is segmented into spring-based, motor-driven, rotary pump, expanding battery, and others, which include pressurized gas and collapsible reservoir technology-based wearable injectors.
The motor-driven segment is expected to register the highest CAGR during the forecast period due to increasing customer demand for these devices as they are more convenient for use as compared to others. Ypsomed AG offers YpsoDose, a large volume patch injector that is based on the motor-driven system. In 2020, the company collaborated with SCHOTT and Lonza to develop a comprehensive solution for wearable patch injectors for the subcutaneous self-administration of large volumes of liquid formulations.
The oncology segment dominated the market in 2020 with a share of 29.9% owing to the rising prevalence of cancer, coupled with an increasing shift toward self-administration of medication among patients. Based on application, the market is segmented into oncology, infectious diseases, cardiovascular diseases, autoimmune diseases, and others, which include anxiety, neurology, anemia/blood disorders, respiratory disorders, skin diseases, genetic disorders, and digestive disorders.
The autoimmune diseases segment is expected to be the fastest-growing segment over the forecast period due to the rising prevalence of diabetes and the increasing adoption of wearable injectors due to their competitive advantage over insulin pumps. Stevanato Group offers a wearable device, SG EZ-be Pod, for diabetes patients. In 2020, the company had planned investments of USD 482.02 million, of which a significant amount is allocated to R&D programs for the manufacturing of drug delivery systems, including SG EZ-be Pod, its wearable device for the treatment of diabetes.
The home care segment dominated the market in 2020 with a share of 40.8% and is expected to maintain its lead over the forecast period. This is due to the rising preference for self-administration of medication and the increasing need to curb healthcare costs. In addition, the growing demand for technologically developed drug delivery, which lowers the hospitalization rate and requires minimal expertise, is expected to boost the market growth. Based on end-use, the market is segmented into hospitals, clinics, home care, and others.
The hospitals segment is expected to witness lucrative growth during the forecast period owing to the increased number of patients that require hospitalization. Moreover, the increasing number of hospitals across the globe is anticipated to drive the segment.
North America dominated the market in 2020 with a share of 41.5% owing to the rising prevalence of chronic and lifestyle-related diseases and the presence of sophisticated healthcare infrastructure. In addition, the local presence of major market players in the U.S., such as Becton; Dickinson and Company; Johnson & Johnson Services, Inc.; Unilife Corporation; SteadyMed Therapeutics, Inc.; Amgen, Inc.; and Enable Injections, is expected to boost the market growth.
Asia Pacific is projected to be the fastest-growing regional market over the forecast period. This can be attributed to the increasing geriatric population, especially in countries such as Japan, a wide diabetic population in countries such as China, and the rise in the number of chronic diseases in this region. In November 2020, Terumo Corporation, a Japan-based medical technology company, received CE Mark for its MEDISAFE WITH insulin pump system. The product that is developed and manufactured in Japan is the first and only tubing-free patch pump for insulin delivery available in the country since its commercial launch in 2018. By obtaining CE Mark, the company will now be able to initiate the global product launch of its product.
High Incidence of Chronic Diseases to Propel Demand
The demand within the global market for wearable injectors has been escalating on account of the rising incidence of severe chronic diseases. Several patients are in dire need for continual administration of drugs in order to maintain their health, thus, necessitating the need for wearable injectors. The injection of insulin in diabetics is carried out through the use of wearable injectors, and this creates lucrative growth opportunities within the global market for wearable injectors. Treatment of diseases such as cancer, arthritis, psoriasis, and Crohn;s diseases also involves the use of wearable injectors.
The inclination of the masses towards easier methods of drug injection has also le to the growth of the global market for wearable injectors. Furthermore, the rising geriatric population that is at a risk of suffering needle stick injuries also propels demand within the global wearable injectors market.
Use of Traditional Methods to Hamper Growth
Despite several advantages of wearable injectors, several hospitals and healthcare centers still prefer to use traditional methods for the injection of drugs or hormonal liquids. This has emerged as a huge roadblock for the growth of the global market for wearable injectors. Furthermore, the lack of skilled professionals who can inform and instruct the patients about the usage of wearable injectors also hampers the growth of the global market. However, the nascent developments in the healthcare industry and sophistication of medical procedures are expected to propel demand within the global market for wearable injectors.
Popularity of Wearable Technologies to Drive Demand
The growing relevance of wearable injectors and technologies has created new pathways for market growth and maturity. Several medical experts have pointed to the potential of wearable technologies in helping the medical industry in expediting treatment processes. Minor jumps and medical advances can be a source of relief for patients suffering from chronic illnesses. The hassle of undergoing multiple manual procedures for administration of medical fluids can be extremely traumatizing for patients. Patients suffering from heart diseases, cancer, and diabetes are especially prone to suffering from excessive stress due to frequent exposure to hospitals for minor fluid administration. Therefore, use of wearable injectors has emerged as an important dynamic of market growth and maturity in recent times. It is legit to expect that the growth graph of the global wearable injectors market would ascend along a lucrative pathway in the years to come by.
Report Scope of the Home Diagnostics Market
|US$ 28.3 Billion by 2030|
|Becton, Dickinson and Company, Johnson & Johnson Services, Inc., F. Hoffmann-La Roche Ltd., Unilife Corporation, SteadyMed Therapeutics, Inc., Amgen, Inc.|
Becton, Dickinson and Company
Johnson & Johnson Services, Inc.
F. Hoffmann-La Roche Ltd.
SteadyMed Therapeutics, Inc.
West Pharmaceutical Services, Inc.
Middle East & Africa
The Wearable Injectors market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Wearable Injectors market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Wearable Injectors market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Wearable Injectors market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Wearable Injectors market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Wearable Injectors capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Wearable Injectors by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Wearable Injectors market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Wearable Injectors market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Wearable Injectors market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Wearable Injectors industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Wearable Injectors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Wearable Injectors market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Wearable Injectors market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Wearable Injectors market. These factors have benefited the growth of the global market for Wearable Injectors. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Wearable Injectors. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Wearable Injectors are as follows:
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- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are: