The Wearable Injectors Market was valued at US$ 8.98 billion in 2023 and is expected to reach US$ 21.61 billion by 2031. The market is expected to register a CAGR of 11.6% in 2023–2031. Integration with telemedicine will likely remain key trend in the wearable injector market.
The rising prevalence of chronic illnesses is a factor driving the market for wearable injectors. The aging population also utilizes wearable medical technology because acute and chronic illnesses are becoming more commonplace worldwide. The emergence of wearable medical devices coincided with the COVID-19 pandemic. For instance, according to the World Health Organization, approximately 422 million individuals globally have diabetes, with the majority residing in low- and middle-income nations. The disease is directly responsible for 1.5 million deaths annually.
The field of wearable medical devices has a bright future due to technological developments, rising health consciousness regarding these devices, and a growing need for individualized healthcare. The market for wearable injection devices is anticipated to grow in emerging countries due to technological advancements and innovations in these devices. Increases in cardiovascular disease and diabetes are predicted to accelerate market expansion greatly. For example, it is anticipated that in China, the percentage of people aged 20 to 79 who have diabetes will rise from 8.2% to 9.7% between 2020 and 2030.
Companies are engaged in providing wearable health technology to their consumers and ensuring it is beneficial. The market for wearables in the healthcare ecosystem is growing rapidly. Based on information from the National Institutes of Health, about 30% of US adults use wearable medical technology, and almost half do so daily to address complicated medical conditions. According to reports, several businesses are competing to be the first to market wearable blood pressure monitors, which have the potential to replace traditional hospital testing. With its promise of seamless integration into daily routine, the wearable injectors industry is indispensable in revolutionizing healthcare. These devices have developed and gained traction. Smart medical systems are becoming possible due to advancements in embedded systems, sensing technologies, nanotechnologies, and miniaturization. Easy to use and comfortable to use, injectors come with features like flexible dosing, water resistance, and automatic warming of refrigerated drugs. The need for injectors has grown as a result of these advantages.
The healthcare industry is constantly developing significantly due to the increasing demand for wearable injectors from a large population globally, which has increased new product development, product launches, and approvals globally. Additionally, major market players are involved in research and development activities to ensure the innovation and development of efficient products. In recent years, various developments, such as product launches and approvals, have taken place in the market, likely to create ample opportunities. For instance, in February 2024, leading pharmaceutical technology company LTS LOHMANN Therapie-Systeme AG announced that Coherus BioSciences, Inc., one of its customers, has introduced the UDENYCA on-body injector (OBI), which makes use of the LTS Sorrel wearable drug delivery platform.) The biosimilar pegfilgrastim, known as UDENYCA (pegfilgrastim-cbqv), is given the day following chemotherapy to reduce the risk of infection, as indicated by febrile neutropenia. The U.S. Food and Drug Administration (FDA) approved the UDENYCA OBI in December 2024.
Key segments contributing to the wearable injectors market analysis derivation are type, application, and end user.
The wearable injectors market report's geographic scope is divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America has dominated the wearable injectors market. In North America, the U.S. is the largest market for wearable injectors in 2023. An increase in the prevalence of chronic illnesses such as diabetes, cancer, oncology, cardiovascular diseases, and others characterizes the growing North American market. In addition to the creation of novel products and the existence of significant market participants in the area. Furthermore, the growing incidence of diabetes in the United States is anticipated to support the expansion of the wearable injector market within the nation. According to the Centers for Disease Control and Prevention's (CDC) 2021 National Diabetes Statistics report, approximately 37.3 million Americans had diabetes, of which 1.45 million were type 1 diabetics. In North America, wearable injector demand is predicted to increase due to the rising incidence of cancer. For example, in 2022, the American Cancer Society reported that approximately 1.9 million new cancer cases were identified. Among the most prevalent cancers in the nation are melanoma, prostate, and breast cancers. Furthermore, the development of medical technology will create significant opportunities for the wearable injector market in North America.
The regional trends and factors influencing the Wearable Injectors Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Wearable Injectors Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 8.98 Billion |
| Market Size by 2031 | US$ 21.61 Billion |
| Global CAGR (2023 - 2031) | 11.6% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Wearable Injectors Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Wearable Injectors Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The wearable injectors market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for wearable injectors and strategies:
The “Wearable Injectors Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: