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.
Wearable Injectors Market Analysis
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.
Wearable Injectors Market Overview
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.
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Wearable Injectors Market: Strategic Insights
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Wearable Injectors Market Drivers and Opportunities
Surge in Demand for Wearable Injectors to Favor Market
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.
New Product Launches and Approval – An Opportunity in the Wearable Injectors Market
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.
Wearable Injectors Market Report Segmentation Analysis
Key segments contributing to the wearable injectors market analysis derivation are type, application, and end user.
- Based on type, the wearable injectors market is divided into on-body injectors, off-body injectors. The on-body injectors segment held a larger market share in 2023.
- By application, the market is segmented into diabetes, oncology, cardiovascular disease, autoimmune disease, other applications. The oncology segment held the largest share of the market in 2023.
- Based on end user, the wearable injectors market is categorized into hospitals and clinics, homecare settings, other end users.
Wearable Injectors Market Share Analysis by Geography
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.
Wearable Injectors Market Regional Insights
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.
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Wearable Injectors Market Report Scope
| 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 |
|
Market Players Density: Understanding Its Impact on Business Dynamics
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:
- Amgen, Inc.
- Medtronic
- BD
- Insulet Corporation
- Gerresheimer AG (Sensile Medical)
- West Pharmaceutical Services, Inc.
Disclaimer: The companies listed above are not ranked in any particular order.
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Wearable Injectors Market News and Recent Developments
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:
- Ypsomed enters a partnership with ten23 health, a global Swiss contract development and manufacturing organization. The aim of this collaboration is to advance the commercialization of the YpsoDose wearable injector for the subcutaneous self-injection of large-volume doses. ten23’s drug development, filling and device assembly expertise will significantly contribute to the product offering. (Source: Ypsomed Company Name, Press Release, 2024)
- Eitan Medical, a global leader in advanced infusion therapy and drug delivery solutions with reliable innovations that put patients at the center of care, is pleased to announce the successful completion of sale and transition of its wearable injectors business to LTS, a leading pharmaceutical technology company that develops and manufactures innovative drug delivery systems. The strategic acquisition marks a milestone for both organizations and sets the stage for further advancements in the field of patient-centric drug delivery systems. (Source: Eitan Medical Company Name, Newsletter, 2023)
Wearable Injectors Market Report Coverage and Deliverables
The “Wearable Injectors Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
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The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published and advised several client across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organization are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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