A high volume of medications is delivered to patients for extended periods of time using wearable injectors. Patch pumps and patch injectors are other names for wearable injectors. These injectors, which are an evolution of conventional syringes, are made to make treatment simpler thanks to their one-step administration system. Additionally, the system aids in patient disease management and uses parenteral administration to give medications to the body in a quicker, safer manner. These injectors have made it possible for patients with diabetes, cancer, cardiovascular disease, and auto-immune disorders to administer their medications without difficulty. Wearable injectors are convenient and lessen the need for frequent, uncomfortable injections as well as hospital visits.
The market for wearable injectors in 2021 was USD 6.17 billion and will reach USD 17.75 billion, growing at a 12.46% CAGR during 2021-2030.
Drawbacks, including needle stick accidents and the limits of conventional syringes, have prompted the public's adoption of the newest wearable injectors. Wearable injectors minimize the need for any help from healthcare professionals and lower consumer healthcare costs. Additionally, because wearable injectors are small and portable, patients can effortlessly self-administer medications while performing daily duties at home or work. During the forecast period, wearable injector demand will increase due to all these advantages supplied by these devices. Additionally, the development of new and inventive pharmaceuticals as a result of technological breakthroughs necessitates the use of specialized drug delivery systems to effectively provide the drugs to patients. Thus, the quickly expanding biopharmaceutical industry is encouraging the development of novel and cutting-edge medicines, which in turn promotes the expansion of the global wearable injector market.
The rising prevalence of different chronic diseases, including cancer, cardiovascular diseases, rheumatoid arthritis, diabetes, and other chronic diseases, along with technical improvements in drug delivery systems, are the main factors driving the global wearable injector market.
The majority of patients choose other drug administration systems since they are more familiar with how to use wearable injectors, which reduces demand for wearable injectors and restrains the market's expansion.
Due to rising demand and the convenience of these skin-contact patches, on-body wearable injectors had the highest revenue share of 55.16% in 2021. (stomach). They are also practical for usage at home and are water resistant. The advantages of on-body wearable injectors include the following:
- Costs of healthcare are falling
- management of a lifecycle (intravenous to subcutaneous)
- Modifications to dose frequency
- Adaptable dosage
- Automatic drug warming for cold drugs
In 2021, the spring-based wearable injectors segment ruled the overall market with 35.91% of the revenue share. The spring-based sector will rule the market since it is user-friendly and allows patients to accurately administer the medication subcutaneously by pressing multiple buttons on the device. According to research, the wearable spring-based Subcuject injector accurately administers a 3 mL, 1 cP viscous dosage in 4 minutes.
In 2021, oncology ruled the market with a share of 29.49%. Due to the rising incidence of cancer and patients' increasing tendency to self-administer their medications, the oncology segment is projected to dominate the market. According to the Canadian Cancer Society, about 7% of Canadian men will develop lung and bronchus cancer, and about 5% will die.
With a market share of around 41.8%, the home care category ruled the wearable injectors market in 2021. The market is expanding due to increased demand for home healthcare services, the need for sophisticated medication delivery systems that require little technical knowledge, and a decline in the number of hospitals stays for patients. The home care market is also driven by the low cost of wearable injectors and the growing desire to reduce healthcare costs.
The North American Market generated USD 2,212.6 million in 2021 and is growing at a 15.21% CAGR. It is due to advanced healthcare infrastructure, increased prevalence of chronic diseases, and lifestyle-related illnesses in this region. Additionally, the market will grow due to the local presence of key market participants in the U.S., including Becton, Dickinson and Company, Unilife Corporation, Johnson & Johnson Services, Inc., Steady Med Therapeutics, Inc., Amgen, Inc., and Enable Injections.
Key Players Analysis
- CeQur SA
- Johnson & Johnson Services, Inc.
- Becton, Dickinson, and Company
- F. Hoffmann-La Roche Ltd.
- SteadyMed Therapeutics, Inc.
- Unilife Corporation
- Amgen, Inc.
- Enable Injections
- Insulet Corporation
- West Pharmaceutical Services, Inc.
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