According to Emergen Research, the global wearable injectors market size was USD 6.75 Billion in 2020 and is expected to reach USD 15.66 Billion in 2028 and register a revenue CAGR of 11.2% during the forecast period, 2021-2028.
Emergen Research has published its latest report titled “Wearable Injectors Market By Technology (Motor-driven. Spring-based), By Type (Off-body, On-body), By Application (Cardiovascular Disease, Diabetes, Immuno-oncology), By End-use (Hospitals, Home Care Settings), and By Region, Forecast to 2028”
According to Emergen Research, the global wearable injectors market size was USD 6.75 Billion in 2020 and is expected to reach USD 15.66 Billion in 2028 and register a revenue CAGR of 11.2% during the forecast period, 2021-2028.
Market Dynamics:
Wearable injectors or WIs are single-use systems that adhere to the body and release higher amounts (more than 2 mL) of medicine subcutaneously over a pre-programmed period of seconds or hours. They are taken from the body and discarded of once the dose has been fully injected. These devices are capable of delivering both higher viscosities and larger doses, and in some cases both and growing adoption of these devices due to increasing focus on self-management and convenience are some key factors expected to drive global market revenue growth. In the case of diabetes, wearable injectors can be used with other external devices such as glucose metres, allowing diabetic patients to actively monitor glucose levels and change the insulin delivery strategy. The patient can alter the delivered volume or flow rate via connected applications based on their preferences or physician recommendations. These technologies enhance in patient adherence and treatment outcomes.
In addition, increasing preference for self-administration of medication, rising focus on drug-delivery design, increasing government focus on the production of drug delivery systems, and rapid development of pharmaceutical industries and medical technologies are some factors expected to fuel wearable injectors market throughout the forecast period. However, presence of alternative drug delivery methods, high costs of wearable injectors and poor reimbursement medical policies are some factors expected to restrain wearable injectors market to a certain extent over the forecast period.
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COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Immuno-Oncology Segment Revenue to Expand at a Rapid CAGR:
Immuno-Oncology segment is expected to register a rapid CAGR in the market globally throughout the forecast period owing to increasing number of patients suffering from cancer, growing geriatric population, rising need for personalized medicine, advancements in drug discovery and development of advanced immuno-oncology treatments by healthcare professionals.
Home Care Settings Segment to Register Significant Revenue Growth:
Home care settings segment is expected to register larger revenue share among other segments in the wearable injectors market over the forecast period due to rising need for cost-effective healthcare delivery, growing popularity of telehealth (especially during COVID-19 pandemic), technological advancements in home care devices, and increasing research activities on development of self-injection systems.
North America to Account for Largest Revenue Share:
North America is expected to register a steady CAGR and account for largest revenue share in the global market throughout the forecast period due to increasing prevalence of diabetes and cardiovascular diseases, growing elderly population and presence of advanced healthcare infrastructure. In addition, presence of key market players such as Enable Injections, Becton and United Therapeutics Corporation, and technological advancements in healthcare sector are some other factors expected to contribute to the market growth in the region over the forecast period.
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Major Companies in the Market Include:
- Medtronic
- Amgen
- Ypsomed
- Insulet Corporation
- West Pharmaceutical Services
- Becton
- Dickinson And Company
- Enable Injections
- United Therapeutics Corporation
- F. Hoffmann-La Roche AG
- Johnson & Johnson
For the purpose of this report, Emergen Research has segmented the global wearable injectors market on the basis of technology, type, application, end-use, and region:
Technology Outlook (Revenue, USD Billion; 2018–2028)
- Motor-driven
- Expanding Battery
- Spring-based
- Rotary Pump
- Others
Type Outlook (Revenue, USD Billion; 2018–2028)
- Off-body
- On-body
Application Outlook (Revenue, USD Billion; 2018–2028)
- Cardiovascular Disease
- Diabetes
- Immuno-Oncology
- Infectious Diseases
- Others
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Clinics
- Hospitals
- Home Care Settings
- Others
Have a look at Report Description and Table of Contents of Market Report@ https://www.emergenresearch.com/industry-report/wearable-injectors-market
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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