DUBLIN, Aug. 24, 2021 /PRNewswire/ -- The "Wearable Injectors Market Research" report has been added to ResearchAndMarkets.com's offering.
The global wearable injectors market is projected to reach USD 11.5 billion by 2026 from USD 7.2 billion in 2021, at a CAGR of 9.9%
Growth in this market is mainly driven by factors such as the shift of healthcare delivery toward homecare due to COVID-19, advantages of wearable injectors in the administration of various drugs, the rising prevalence of chronic diseases (such as cancer, diabetes, and CVD), favorable reimbursement scenario in major markets, and technological advancements in injector devices.
However, the preference for alternative drug delivery modes, high costs, and a poor reimbursement structure in developing countries are expected to limit the adoption of wearable injectors to a certain extent.
The on-body injectors segment holds the highest market share, by type, in the wearable injectors market, in the forecast period.
By type, the global wearable injectors market is segmented into on-body injectors and off-body injectors. The on-body injectors segment accounted for the largest share in the forecast year. The large share of this segment can be attributed to the patients ease to deliver a precise amount of drug to the body over a controlled period of time.
The spring based segment holds the highest market share, by technology, in the wearable injectors market, in the forecast period.
Based on technology, the wearable injectors market is segmented into spring-based, motor-driven, rotary pump, expanding battery, and other technologies. The spring-based technology segment accounted for the largest share in the forecast period. The large share of this segment can be attributed to the rising demand for adhesive patches, as these devices are user-friendly and enable patients to accurately deliver the required drug subcutaneously.
The diabetes segment holds the highest market share, by therapy, in the wearable injectors market, in the forecast period.
Based on therapy, the wearable injectors market is segmented into immuno-oncology, diabetes, cardiovascular diseases, and other therapies (such as Parkinson's disease, thalassemia, and primary immunodeficiency disorders). The diabetes segment accounted for the largest share in the forecast period. The large share of this segment can be attributed to The high burden of diabetes across the globe, coupled with the growing availability of wearable injectors for the treatment of these diseases, is driving the growth of this market segment.
In wearable injectors market by end user segment, Hospitals and clinics holds the highest market share
Based on end user, the wearable injectors market is segmented into hospitals and clinics and home healthcare settings. The hospitals and clinics segment accounted for a larger market share during the forecast period.
The large share of this segment can primarily be attributed to the rising preference for the self-administration of medication and the increasing need to curb healthcare costs. In addition, the growing demand for technologically developed drug delivery approaches, which lower the hospitalization rate and require minimal expertise, is expected to boost the growth of the home healthcare settings segment.
North America holds the largest share in the wearable injectors market, by region, in the forecast period
The wearable injectors market in North America accounted for the largest market during the forecast period. The large share of North America in this market is to the rising prevalence of chronic and lifestyle-related diseases and the presence of advanced healthcare infrastructure in the region.
However, the Europe market is estimated to grow at the highest CAGR during the forecast period owing to factors such as the Increasing prevalence of chronic diseases, Government support for drug development in Germany, Rising focus on biosimilar innovation in the UK, Favorable reimbursement scenario for various treatment options in France.
The key players in the wearable injectors market include Becton, Dickinson and Company (US), Ypsomed (Switzerland), Amgen (US), Subcuject (Denmark), Enable Injections (US), Medtronic plc (Ireland), Insulet Corporation (US), United Therapeutics Corp. (US), CeQur SA (Switzerland), Sensile Medical (Switzerland), and West Pharmaceutical Services, Inc. (US).
Diabetes Segment Commanded the Largest Share of the North American Market in 2020
Market in China to Witness the Highest Growth During the Forecast Period
North America is the Largest Market for Wearable Injectors
Shift of Healthcare Delivery Toward Homecare due to COVID-19
Advantages of Wearable Injectors in the Administration of Various Drugs
Growing Prevalence of Chronic Diseases
Favorable Reimbursement Scenario in Major Markets
Technological Advancements and Design Development
Preference for Alternative Drug Delivery Modes
High Cost of Wearable Injectors
Increasing Demand for Biologics and Mabs
Unfavorable Reimbursement Structure in Developing Countries
Value Chain Analysis
Ecosystem Market Map
Supply Chain Analysis
Patent Publication Trends for Wearable Injectors
Impact of COVID-19 on the Wearable Injectors Market
Becton, Dickinson and Company
Bespak Europe Ltd.
Buhler Motor GmbH
Elcam Drug Delivery Devices (E3D)
Noble International LLC (An Aptar Pharma Company)
Sensile Medical (A Part of Gerresheimer)
Tandem Diabetes Care
United Therapeutics Corporation
West Pharmaceutical Services, Inc.
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