The “Wearable Injectors Market By Type, By Technology, By Application, By End-User, And By Regions – Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” report has been added to ResearchAndMarkets.com’s offering.
According to the report, the global wearable injectors market was valued at approximately USD 6.9 Billion in 2020 and is expected to reach a value of around USD 11.5 Billion by 2026, at a CAGR of around 8.9% between 2021 and 2026.
Wearable injectors are devices that can be worn on the body in the form of a patch or complete equipment for timely medicine inoculation. There are various kinds of medical condition in which timely injection of drugs are necessary for the normal functioning of the body when the person is affected from diabetes, Parkinson’s disease, heart disorders, and cancer. These products help the patient suffering from chronic diseases live a normal life. These devices can also be connected to the body in the form of a tube via a tiny discreet instrument. Moreover, wearable injectors also have wireless connectivity and their operations or functionalities can be regulated through software.
Rise in the occurrence of chronic ailments to drive the market expansion
The tremendous rise in the occurrence of chronic ailments like heart diseases, diabetes, and cancer will offer lucrative growth avenues for the market over the forecast timeline. According to the report of International Diabetes Federation, about 425 million persons were found be have been suffering from diabetes in 2017 and the figures are slated to hit nearly 629 million by 2045. Moreover, diabetic conditions need drug inoculation on time for maintaining normal body functioning. This will elevate the growth of the wearable injectors industry over the forecast timeline.
Furthermore, the launching of new technologies for maintaining the balance between disease management and lifestyles will further elevate the business growth during the forecast timeline. Moreover, technology has minimized the device size and made it user-friendly, thereby further accelerating the growth rate of the market over the forecast timeline. Nonetheless, growing acceptance of alternate modes of drug delivery will inhibit the scope of the market during the forecast timeframe.
On-body injectors to dominate the type segment by 2027
The users easily wear these devices and are handled by wireless connection & software. Moreover, technological breakthroughs have reduced the equipment size, thereby further steering the segmental growth over the forecast timeline.
Immuno-oncology segment to contribute majorly towards the overall market share by 2027
The growth of the segment during the forecast period is due to the high occurrence of cancer across the globe.
North America to lead the regional market growth during the period from 2019 to 2027
The growth of the market in North America is due to the presence of strong healthcare infrastructure along with growing incidences of chronic ailments. In addition to this, an increase in the research activities for biologics and the development of new injector design are a few of the major factors that are likely to steer the growth of the industry during the period from 2019 to 2027.
Furthermore, a rise in the acceptance of wearable injectors, favorable compensation policies, and bulge in healthcare spending are some of the aspects that will steer the regional market surge over the forecast timeline.
This report segments the Wearable Injectors market as follows:
Global Wearable Injectors Market: By Type Segment Analysis
- On-Body
- Off-Body
Global Wearable Injectors Market: By Technology Segment Analysis
- Spring-Based
- Motor-Driven
- Rotary Pump
- Expanding Battery
- Others
Global Wearable Injectors Market: By Application Segment Analysis
- Oncology
- Infectious Diseases
- Cardiovascular Diseases
- Autoimmune Diseases
- Others
Global Wearable Injectors Market: By End-User Segment Analysis
- Hospitals
- Clinic
- Home Care Settings
- Others
Global Wearable Injectors Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Middle East and Africa
Companies Mentioned
- Becton
- Dickinson and Company
- Johnson & Johnson Services Inc.
- F. Hoffman-La Roche Ltd.
- Unilife Corporation
- SteadyMed Therapeutics Inc.
- Amgen Inc.
- Insulet Corporation
- Enable Injections
- West Pharmaceuticals Services Inc.
- CeQur S.A.
- ATS Automation
- Tandem Diabetes Care
- Noble
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